Market Analysis of Bennelong

This presentation provides a market analysis of Bennelong, a restaurant located in Sydney, and discusses the potential for expansion into the UK, USA, and Indian food industries. Strategies to overcome market barriers are also presented.

MARKET ANALYSIS OF
BENNELONG
Name of the student
Name of the University

INTRODUCTION
 It has been estimated that Australians spend
large amount in eating out (Chou, Chen and
Wang 2012)
 Thus no doubt, food industry is a growing
industry in the Australia
 Australians love spending behind food
 Food joints are also popular in the country
 Australians loves tasting different types of
food
 They enjoys different flavors and cuisines of
food as well of the Australians are foodie

INTRODUCTION
 Restaurant industry is ever growing industry
in the global context (Chou, Chen and Wang
2012)
 Bennelong is a restaurant which is a part of
the food industry
 It belongs to the restaurant industry

INTRODUCTION
 The purpose of the study is to understand
how a company develops the strategies
against the barrier while entering into a new
market.
 It gives a brief introduction
 It proceeds by discussing the market
opportunity analysis
 The market opportunity barriers has been
identified then
 At the same time strategies to overcome the
barriers were also mentioned
 The presentation finally summed up the
entire discussion

INTRODUCTION
 It is located in opera house in Sydney
 The location of the restaurant is iconic
 The chief chef and the CEO of the restaurant
is Peter Gilmore (Lane 2013).

INTRODUCTION
 Peter Gilmore is a celebrated Australian chef
 The entire restaurant is coordinated by Peter
Gilmore
 The restaurant is theme based (Lane 2013)

MARKET OPPORTUNITY ANALYSIS
 Three different markets have been proposed
where the restaurant can plan to expand its
business (Palmer and Griswold 2011).
 The three markets re UK, USA and Indian
food industry.

MARKET RESEARCH OF INDIA
 The food industry of India is increasing at 17%.
 The entire food industry is worth $24.77 billion.
 The internet based food ordering and delivering
business has been experiencing exponential
growth over the last few years.
 The existing competitors of Bennelong in India
are Barbeque nation, Hard Rock Café, California
Pizza chicken and many more.
 However, the food industry of India is growing at
a rapid speed, business scope is huge for
Bennelong (Palmer and Griswold 2011).

MARKET RESEARCH OF USA
 The food industry of USA is a large as well as
growing market.
 The entire food industry of the USA worth
$1.46 trillion.
 Major competitors for Bennelong in the USA
food industry are McDonald’s, Subway, Taco
Bell, Wendy’s and many more.
 The business scope is high to medium as the
above mentioned food chains already have a
good hold over the customer base (Lee and
Ha 2012)

MARKET RESEARCH OF UK
 The food industry of United Kingdom has
been witnessing consistent growth over the
recent years.
 It is one of the established sector of the
economy of the UK.
 Nando’s, Wagamama, Gourmet Burger
Kitchen and etc are some of the leading
restaurant chain in the UK.
 as the food industry is already an established
sector, the business scope for Bennelong is
average to low (Palmer and Griswold 2011).

MARKET OPPORTUNITY BARRIERS IN
UK
 There can be many such barriers in the
opportunity for the restaurant.
 As mentioned earlier, the food industry in the
UK is already established, the threat of new
entrants in the industry is likely low to medium.
 Large restaurant chains already have good
customer hold, thus to enter in the market of
UK, Bennelong will have to use unique business
strategy.
 The brand loyalty is another major barrier that
Bennelong might face while entering the UK
market (Palmer and Griswold 2011)..

MARKET OPPORTUNITY BARRIERS IN USA
 Similar to UK, USA food industry is dominated
by several renowned restaurant chains.
 the leading fast food restaurants provide
customers the opportunity to avail best
quality at an affordable prize.
 However, Bennelong is a fine dine restaurant
with comparatively, high price strategy.
 Brand recognizition is one of the major threat
for the restaurant while entering in the USA
economy (Kimes 2011).

MARKET OPPORTUNITY BARRIERS IN INDIA
 Among the all three markets, Indian economy
can be considered as the most beneficial for
Bennelong.
 The Indian food industry is competitive with
the rate of new entrants in the industry is
high.
 Restaurants like Bennelong are barely seen
in the industry.
 less start up costs in the economy is the
other main advantageous aspect for the
Bennelong (Lee and Ha 2012)

STRATEGIES TO OVERCOME
BARRIERS
 The restaurant need to be aware of the
industry of the new market and other related
aspects to overcome such barriers.
 Capital cost can be controlled with proper
planning and estimation of project budget.
 However, capital cost is not similar to cost
budget. estimation should be in detailed and
conceptual parameters (Lane 2013).

STRATEGIES TO OVERCOME
BARRIERS
 One of the important ways to overcome such
challenges need to be started from the initial
stage where the need of identifying,
recognizing and evaluating the gaps and
problems might be incurred.
 After which follows the planning style which
has to be properly planned and to generate
the solution involving the customer
requirement (Maumbe 2012).

STRATEGIES TO OVERCOME
BARRIERS
 The restaurant though consists of all the
equipments and moving cost, fundraising and
other such costs. It must be able to make
effective business decision making when it will
expand in other countries
 Community concern can be managed with the
help of effective internal staffs that establish
several security concerns relating to the market
trends and the industry analysis.
 It includes building security for the restaurant,
protection of data, money and supplies and
equipments (Chou, Chen and Wang 2012).

STRATEGIES TO OVERCOME
BARRIERS
 The management of the restaurant needs to
proactive about the political and economical
conditions of the proposed markets in order to
avoid any difficulties in entering the market.
 Quality of communication has to be maintained
both by the management and the employee in
order to interact with the communities of the
countries in a well manner.
 Finally, the restaurant need to build a strong
network of distributors in order to run its
business smoothly in those new markets
(Bernstein and Sheen 2016).

CONCLUSION
 Thus, it has been seen that the food and
restaurant industry in India is a growing and
can be beneficial.
 At the same time the scope of entering in the
economy of UK and USA, ranges from
medium to low.
 However, the presentation suggest that the
restaurant needs to have plan strategically
for entering new markets.

REFERENCES
 Chou, C.J., Chen, K.S. and Wang, Y.Y., 2012. Green practices
in the restaurant industry from an innovation adoption
perspective: Evidence from Taiwan. International Journal of
Hospitality Management, 31(3), pp.703-711.
 Palmer, J. and Griswold, M., 2011. Product and service
innovation within small firms: An exploratory case analysis
of firms in the restaurant industry. International Journal of
Business and Social Science, 2(13).
 Lee, K. and Ha, I.S., 2012. Exploring the impacts of key
economic indicators and economic recessions in the
restaurant industry. Journal of Hospitality Marketing &
Management, 21(3), pp.330-343.
 Mellet, K., Beauvisage, T., Beuscart, J.S. and Trespeuch, M.,
2014. A “democratization” of markets? Online consumer
reviews in the restaurant industry. Valuation Studies, 2(1),
pp.5-41.

REFERENCES
 Lane, C., 2013. Taste makers in the “fine-dining” restaurant
industry: The attribution of aesthetic and economic value by
gastronomic guides. Poetics, 41(4), pp.342-365.
 Joong Kim, Y. and Hancer, M., 2010. The effect of knowledge
management resource inputs on organizational effectiveness
in the restaurant industry. Journal of Hospitality and Tourism
Technology, 1(2), pp.174-189.
 Kimes, S.E., 2011. The future of distribution management in
the restaurant industry. Journal of Revenue and Pricing
Management, 10(2), pp.189-194.
 Bernstein, S. and Sheen, A., 2016. The operational
consequences of private equity buyouts: Evidence from the
restaurant industry. The Review of Financial studies, 29(9),
pp.2387-2418.
 Maumbe, B., 2012. The rise of South Africa's quick service
restaurant industry. Journal of Agribusiness in Developing and
Emerging Economies, 2(2), pp.147-166.