PM305 International Marketing
21 Pages3913 Words264 Views
GSM distinctive higher education London
International Marketing (PM305)
Added on 2020-04-13
PM305 International Marketing
GSM distinctive higher education London
International Marketing (PM305)
Added on 2020-04-13
ShareRelated Documents
Running Head: Business management1Business management
Contract management 2Executive Summary:Global fast food restaurant industry has managed to grow from last five years despite the fact ofweak global economy and increase of awareness of health risk in the society such as risk relatedto diet high in fat, salt, and sugar. Attempt made by industry in responds to change of customerpreferences also result in revenue of growth. In next five years till 2022, it is forecasted by IBISWorld that fast food industry will grow in same manner. This industry provides benefit to theglobal economy, and improvement in this industry is ensuring because consumers continue tospend their resources on small luxuries such as eating out. This industry also provides variousnew opportunities to the business organizations at global level. This report states the case studyof Five Guys Burgers, and plan to spend their business in four countries and that are Japan, India,Singapore and China.
Contract management 3ContentsExecutive Summary:....................................................................................................................................2Introduction:...............................................................................................................................................4Macro and competitive factors that affect global fast food industry:.........................................................4PESTEL Analysis:......................................................................................................................................5Internal business environment of Five Guys Burgers:.................................................................................7Value chain analysis:................................................................................................................................7Global competitive factors:.....................................................................................................................7SWOT of Five Guys Burgers:....................................................................................................................8Potential target markets:...........................................................................................................................1012Cs Framework:...................................................................................................................................10Hofstede model:....................................................................................................................................12Chosen country:........................................................................................................................................13Socio-cultural factors of Singapore:...........................................................................................................13Conclusion:................................................................................................................................................13References:................................................................................................................................................14Appendix:..................................................................................................................................................16
Contract management 4Introduction:Asia pacific was considered as fourth fastest growing region in the world in context of fast foodindustry. In lieu of value growth rates, this industry witnessed various ups and downs over thelast decade. Suddenly, a constant positive trend of eating out gives rise to the disposable incomesand overall health of economies. There are number of countries such as Hong Kong, Japan and South Korea which have highfrequency of eating out such as with per capita expenditure almost as high as their Westerncounterparts. On the other hand, countries like Indonesia, the Philippines and India are eating outon weekly basis but not on daily basis, as compared to western counterparts. Consumers stillpreferred Asian food because this food is healthy as well as tasty. In 2016, China, Japan andIndia together achieve 83% of total fast food value sales in the region (Euro monitorInternational, 2017; IBIS World, 2017)This report states the internal expansion strategies for Five Guys Burgers in four countries that isJapan, India, China, and Singapore. This paper states various aspects of internal expansionstrategies, and lastly paper is concluded with brief recommendations and conclusion. Macro and competitive factors that affect global fast food industry:All organization must operate on the basis of their target market, and for this context marketrefers to the set of all potential buyers and sellers of specific product or service (Kotler, Brown,Adam & Armstrong, 2004). It is necessary for organization to apply marketing managementwhich includes analyze, plan, implement, and control plans which are framed for the purpose ofcreating, building, and maintaining beneficial exchanges with the target buyers for the purpose ofachieving the goals stated by organizations (Kotler, et al, 2004).
Contract management 5PESTEL Analysis:The most important factor for ensuring effective marketing management is the proper evaluationof environment of marketing. This involves actors and forces from outside marketing whichdirectly affects the ability of marketing management to develop and maintain successfultransactions with the target customers. This environment consist various micro and macro-environment factors. PESTEL analyses for Five Guys Burgers are stated below: (Figure 5)PoliticalPolitical factors which affects fast food industry changes from country tocountry, but in all these factors compliance factor is the most importantwhich include regulations related to wages, hygiene, and food quality.These political factors are considered as most important factors whichaffect the fast food industry, and it is the attitude of the governmentwhich ultimately affects the business performance of the organization. EconomicRecession also affects the growth of fast food industry to some extent,and from the time it passed, spending per consumer has increased.Because of recession, restaurants include cheaper options in their menusand also focus on customer services. Customer service is the mostimportant area which is struggled by the brands at the time of recessionfor the purpose of retaining customers. It must be noted that deliciousfood was not sufficient to retain the customers, and because of this it isnecessary that Five Guys Burgers supplement the delicious food with lowcost and best customer services. Social Social context includes the health and lifestyle trends which influence thefast food industry. Increasing awareness of people in context of healthalso affects the growth of fast food industry. Now people think twice
Contract management 6before they eat, and this changed attitude of consumer’s pressure therestaurants to include healthy food options in their menu. It is alsorecommended to the Five Guys Burgers to include healthy and organicfood options in their menu. Technological Technological changes already result in number of changes in the waythrough which restaurants engaged their customers, and they also affectthe marketing and advertising methods used by the restaurants. FiveGuys Burgers can also use social media channels to engage theircustomers. Environmental Changing approach of government towards the environment pressure thebrands to adopt more green approach. In every country quality standardsbecome stricter. However, this greener approach of restaurants also helpsthem in attracting the customers and gain customer loyalty. Legal Pressure imposed on fast food industry because of the changes occurredin legal requirements has risen. Quality of food and nutrition’s areas arethe most important areas which are affected by law. Now, it also includespackaging and handling of waste (Pratap, 2016). Internal business environment of Five Guys Burgers:Value chain analysis:Five Guys Burgers can create value for their organization by using the Porters Value ChainAnalysis, and this chain determines the activities which create value for the business. Primaryactivities that occur continuously within the corporation create value for customers. For thispurpose value creating activities of Five Guys Burgers are marketing and selling the product,
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Global Expansion for Five Guys Burgers International Restaurant - Reportlg...
|20
|3792
|298
International Marketing of McDonaldslg...
|22
|5948
|35
Marketing Assignment Five Guys Burgerslg...
|26
|5552
|170
Impact on Global Fast Food Industrylg...
|19
|4968
|71
Report on International Marketing - Five Guys Burgerslg...
|12
|3552
|295
International Marketing International Marketing Introductionlg...
|27
|5482
|399