Hot Dog Truck Business Essentials

This report provides an in-depth analysis of the business essentials required for a hot dog truck operating near London University. The study explores market external analysis and company essential requirements to achieve optimal market position. It highlights the importance of adopting best marketing strategies, promotional techniques, and understanding customer needs and wants.

HOT DOG TRUCK

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
PART A...........................................................................................................................................3
PART B............................................................................................................................................5
TASK 2............................................................................................................................................6
TASK 3............................................................................................................................................7
TASK 4............................................................................................................................................8
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Food industry isa highly profitable and growing sector, it is the biggest fact that all
human beings cannot live without their favorite food services. Most of the food business has
started in the country on the basis of customer needs and wants. Present report will be based on
Hot dog truck. It will explain the overall startup business opportunity involves in this food
business and customer attraction towards the pork dishes. It will also explain about the
competitor’s position and their pricing strategies to attract buyer’s attraction. It would be very
much important for the three partners who will plan to start Hot Dog truck. In which there are
three members who starts the business it gives positive impact on the new startups in order to
earn money profit.
TASK 1
PART A
Hot Dog truck is a new business idea which is based on customer service. Truck on top is
a private operating partnership business, including three partners and a mobile truck that will sale
fresh pork meals and special Italian coffees, to be serve in a clean manner. It is a productive
business idea which is most favorable and productive effective growth. Customers love to have
fast food products nearby to their places (Beatty, Samuelson and Abril, 2018). They always look
for clean and hygienic food services in their location. Hot Dog truck opened their business at
Roehampton University of London. It will be moved into another place where preferred location
and most crowded place in the city. It is basically situated nearby those places where customer
attraction will easily get attracted. It must be according to the most impact and impressive way of
manner. It is the best idea to open fast food services at that location. It will always must be
impressive and attraction for the customers. Innovative ideas and effective planning always
produce the best outcomes and impressive performance. Customers of London love pork fast
food services which makes impressive ideas and productive impact on the business ideas.
Business concepts are always according to customer needs and wants. In terms of fast food
services it always considered good and impressive idea tools and techniques. It must be
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according to the business ideas and impactful decision making approach. Besides, customer
always looks for best quality of product and services. According to which this business idea is
most preferable for business growth. Along with that, this also helps to understand the current
needs of the customers. To get the best approachable interest of Customers, a Company needs to
meet the needs of buyers to increase their business image in the London market. For customers
pork fast food is an innovative product which is available at reasonable price or with best
position (Cooper, Ashley and Simona, 2014). To keep business always great and productive
company needs to take care of productive services. The reason behind this business idea is that
youth and students love to eat fast food. This is one of the reasons seller choose to sell their food
services nearby universities. It makes good impact on the minds of customers as well as
company profit revenue.
In order to protect the business from uncertainties, Hot dog Truck always needs to
acquire and analyze their most potential competitors and their needs and wants. Another reason
of setting up of this business, is that (Ebert and Griffin, 2016) similar businesses, restaurant or
fast food stands nearby the university campus ,apart from few vending machines cannot offer
more than a restricted variety of bites. So this is the reason for which business idea must be
suitable and effective ways of services. There are various competitors of the business which may
affect business activities and market conditions. In order to overcome from the competitors Risk
Company always needs to adopt fresh pork and quality of ingredients to provide the best quality
of product and services.
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PART B
In order to take business further or on next step company needs to protect their business
from external environment (Gamble and Thompson, 2014). Besides, company also take care the
needs of buyers and meet their expectations. All fast food businesses are sustained in the market
on the basis of their goals and objectives. It will enhance the profit making tasks and objectives
for the business. To fulfils customers or business targets there are some objectives of the
company.
Food: it is the best and foremost objective of the Hot Dog truck. This is the major goals of
business to provide best possible food to their target market customers. Along with that, for food
business it is very necessary for the company to take care the cleanliness and hygiene factors.
The objective of Hot dog truck is to serve the best quality of fast food services according to
customer needs.
Dining Experience: the second objective of business is they want to provide best dining and
internal experiences to customers. For that, company needs to make good impression on buyer’s
minds at the time they enter the place (Guffey and Loewy, 2015). They must be attracted and
clean. It also includes creating a complete dining experience such as decorated place, clean and
good environment, and quality of services. Moreover, this is the necessary objectives for the
company in order to fulfill the buyer’s needs and wants.
Profitability: this is the reason of the business to earn productive profitability from selling fast
food. Without accomplishing the profitability objectives company could not achieve the
expenses of business. Hot dog truck makes sure that they recover their all cost and expenses and
earn effective profit from the businesses. It must be according to customer needs and wants.
Business has been started with three partners who are moreover very much effective and
competitive. Partnership is the business type of organization in which two or more than two
partners are sharing equal profit and loss (Hugos, 2018). They also invest equal capital
investment for opening the business. It is the most popular kind of business through all pressure
is not coming on the single person or business man. It will also help to recover the best possible
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action plan. In hot dog truck all three partners share his equal roles and responsibilities. It will
also very much helpful to get business at equal level.
TASK 2
Pestle analysis
Political: Political factors are determined as changes in political conditions of the
country. This is the factor which affecting food industry by changing in tax rates or changing in
service tax etc. all fast food services needs to regulated wages, quality, hygiene and food variety.
Wage rate of a country is different from others (Kubasek, Browne and Dhooge, 2015). They
need to adopt all regulations and changes factors to safe their business activities and growth.
Economic: recession and inflation influenced fast food sector, in terms of expensing
services and raw material. It is very much required to measure the external environment to
identify strength and weaknesses. Customer services are the foremost method for the
organization to maintained company image. Customer service or customer attraction would be
helpful for the company to handle recession and uncertain situations. It must be according to the
customer needs and wants.
Social: health and safety of buyers is very distinct and necessary for the business. Health
awareness affected overall food industry and company profit revenue. It must be necessary for
the organization to keep the company position and reputation on top of the customer list. Social
perception might be affect company services (Major, 2015). This factor is highly influenced by
society changes. Hot dog truck will require adopting all safety and health care precaution for the
organization. It is helpful to take customer faith and loyalty towards the company products and
services.
Technological: technological factors influenced fast food services and minimize the role
of mediators. With the help of digital technology, customer can get fast services from the
business outlets. Technology can easily reduce time or money cost which is very impressive for
customers to buy a product. Technology is helpful to sustain the quality of customer services.
Technological factors have already brought huge changes to the way brands have served and
engaged their customers. Such online technology can easily get service or food fast by ordering
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through company site or through company app (Moore, 2014). It helps to reduce the services and
it also helps to get the more opportunity for business growth.
Legal: A legal aspect in food business is very much important and required to protect
buyer’s safety. Any Business requires adopting current legal implications imposed by the
government. They also need to adopt the best kind of business environment safe employee’s
safety as well. Legal factors are highly affecting the business activities. It is also important to
take care of the safety needs of employee’s s well.
Environmental: Sustainability is another necessary factor to impact on fast food
services. Changing in government policies and environmental changes directly would impact on
food industry. Changing regulation, market conditions, customer needs and other environmental
changes affect business activities (O'Brien, 2015). UK food and drug rules are very much strict
and serious about customer interest. Hot dog truck needs to provide healthy fast food services to
their buyers.
TASK 3
On the basis of above pestle analysis Company needs to adopt marketing or business plan
in order to overcome from the business activities. It also influences business activities into
effective manner. Besides, Hot dog truck needs to adopt best required techniques to get
overcome from the activities. Every business required some activities and positive influencing
factors which helps company to take business further. Such as productive nature of goods and
services. For getting new area of improvement company needs to take digital technology to
attract customer focus and promote company services in more effective manner. External
environment of the business influence many opportunities and growth. For getting good market
response company needs to sustain their market condition in good manner (Ragas and Culp,
2014). Moreover, it is the best way to protect the best things to keep market good and supportive.
Hot dog truck requires. They also need to think about new idea and production. To make proper
budget Plan Company needs to acquire the best possible action plan in order to keep the better
opportunity and growth.
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TASK 4
Marketing objectives: the main purpose or reasons of marketing objectives are to gain
customer interest and enhance customer reach. Marketing process includes approaching
customer’s buyers by making product awareness. For example Hot dog truck attracts buyers by
give them varieties of pork dishes with high committed quality.
Target Markets: target market customers of Hot dog truck are to get more customer poll
or they target generally young people who love to eat fast food items at their own favorite’s
variety.
Marketing Mix: Marketing mix is the most essential mix in the marketing which helps
to influence positive activities in the business (RONALD, EBERT and RICKY, 2018). Which
also influence company image in the market marketing mix includes place, product, price,
promotion, people, physical evidence etc. all market factor are very much market require.
Marketing strategies for each target market: Hot dog truck require adopting best
marketing strategies in order to get the best productive idea and emerging trends. Such as
promotional strategies, moreover, another impressive ways to grab the new market strategies.
Along with that, hot dog truck also should adopt some effective and impacting market strategies.
Marketing activities should be according to customer needs and wants (Wilson, 2014). To grab
the attraction of youth people company needs to adopt best and variety of pork dishes.
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CONCLUSION
From the basis of above section it can be concluded that, business essentials are very
much required and necessary for the organization. It is necessary for any organization to adopt
necessary implementation. Present report was based on the new business of Hot dog truck which
opened at London near the university. It discussed about the market external analysis and
company essential requirement to get best market position.
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