...makes a business successful one must consider all aspects of a firm. One of the most important factors of success is imbedded in the marketing management team of a company. In this project, Subway’s marketing strategy is thoroughly researched to reveal why the firm is thriving among fast food chains around the world. This is done through researching the background on the company, analyzing the fast food market, identifying the position/competition/brand, evaluating the services and pricing, and finally considering promotions/marketing. Through the breakdown of these subjects it will be apparent that Subway is not only one of the leading firms in its industry, it will also show that it has outshined companies across the world in marketing management. Provide a description of your product/service and a brief history of the firm that produces your product/service. Subway is a fast food restaurant franchise that specializes in the submarine sandwiches. It is owned and operated by Doctor’s Associates, Inc. Subway’s headquarters is located in Milford, Connecticut. The franchise has five regional offices to oversee its international operations. The regional offices for Europe are located in Amsterdam, regional offices for Australia and New Zealand are located in Brisbane, regional offices for Asia are located in Beirut and Singapore, and regional offices for Latin America are located in Miami, Florida. (China Weekly News, 2011) Currently, Subway franchise has over 39,000 stores...
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...world. Now that their eldest son is in college, and they have seen how hard it was for him to get summer jobs and student work studies, they want to make the path a bit easier for their younger children. Their hope is to start a small business that will eventually become a family affair. This business will help the community as well as allow their children to have summer work growing up and instill in them the entrepreneurial spirit. As part of working class America, Sherdon and Anissa do not have a lot of income at their disposal. They will be investing all of their savings into this business, therefore, proper planning is a must. The business that they have decided to open is an employment agency. After researching the industry, both feel as though there is a market for this service and that the time it will take to open the business is reasonable. Additionally, they believe that if they can use a line of credit, their initial investment will be low and their risk a bit lower compared to other industries. To begin their journey to small business ownership, Sherdon and Anissa will approach their planning by way of using a project plan, especially focusing on managing their risks as they have a lot at stake. Statement of work...
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...Strategy recommendation for how KFC should incorporate the reality of the Internet and social media into its business plan Yum! Brands is a global company that operates in 41 different countries and territories with approximately 41,000 restaurants. The company was formed in 1997 as a spin-off of PepsiCo and has become a leader in international retail development, opening an average of five restaurants per day outside the U.S. Yum! Currently owns 3 different concepts: KFC, Taco Bell and Pizza Hut. Colonel Harland Sanders is the founder of Kentucky Fried Chicken and is proven to be a great American success story. He began frying chicken in the early 1930’s at a travelers’ service station in Corbin, KY and after perfecting his 11 herbs and spices and frying technique that is still used today, the Colonel began franchising in 1955. 10 years later there were over 600 restaurants in the U.S. and Canada. The Benefits of using social media and the internet The benefits in using social media and the internet for any business is to increase exposure, gain traffic and connect with people. A business needs to create strategies that link the customer experience with the technologies and systems required to deliver the right content at the right time. (Hisaka, 2012, para. 1) KFC has to stay relevant to its customers and followers because it’s a brand that everyone knows and has been around since the 1950’s. Interacting with customers and asking for their opinion allows...
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...can also improve performance of an organisation. This report is going to identify all the factors that helps the business run efficiently. First of all, this will understand the purpose for a range of business types (e.g. sole trader, limited company, business partnership and many more). Then will identifies and justifies how objectives evolve, and how they are influenced by the various stakeholders. Find techniques which will enable the business to cope with the environment in which they operate. And in completion realise the different market sectors will have different approaches when defining objectives, satisfying stakeholders, and coping with their external environment. This will be analysed by choosing three different types of businesses which will be compared in their way that they operate. An introduction to business environment Business environment may be distinct as the set of external and internal factors which affect the decision of business. Internal environment is the factor that will affect the business directly, which involve customer, employees etc. External environment refers to the factors that influence the organisation indirectly, which involve PEST (Political, Economic, Social and Legal). Working of the business process is influenced by these forces and factors, which stay outside the business that are uncontrollable by single business entity but have effect on business is called Business Environment. The purpose of business is to offer value through products...
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...Managing Business Operations The chosen company to study in this report is YO! Sushi. I. INTRODUCTION 1. The Company YO! Sushi is a chain of restaurants that was founded in 1997 by Simon Woodrofde in London, United-Kingdom. Its goal was to make sushi more approachable to the English market. In order to achieve so, it brought the innovative concept of the conveyor belt, also called “kaiten” and sushi bar ambiance that was so successful in Japan. After its opening in Soho, London, its concept expanded among Londoners among whom the YO! Sushi brand quickly established itself as a unique dining experience. The company pursued its expansion in the United-Kingdom and by 2001, it became the market leader in sushi restaurants. The company receives an average of 300 applications per year from potential franchises. It began its international quest by entering the Middle-East in 2003. It progressively entered other European countries such as Portugal and Norway; in 2012, it opened its first branch in the United-States of America, in Washington. The company reports that it serves over 5 million customers a year worldwide. (Rowland, 2014; YO! Sushi, 2014). The Venue In order to analyze the company’s operations, the venue should be introduced: Customers enter the restaurant and a staff member immediately places them either on a table or at the bar. All seats are situated at proximity of the conveyor belt, which is located around an open kitchen. Condiments including...
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...of the programme Bachelors of Arts in International Business Management Asia Pacific University of Technology and Innovation 06-11-2013 Abstract Recently countries over the world have been in a very fast economic development race with the most modern and appropriate strategies and technologies. However, franchising has been of the most successful and useful strategies that helped in the development and improvement of countries. On the other hand Pakistan is one of the developing countries that suffer from the lack of such strategies and technologies that would play the role in the economic development of the country. This report provides an overview of franchising strategy with its advantages and drawbacks. Moreover the report is about the market in Pakistan and provides a much clear image of the environmental factors and current situation in the country. The aim of research is to study the opportunities of franchising in Pakistan as well as the challenges that organizations face in the market of Pakistan specially in franchising. The research focuses on the environmental factors, political and social and cultural factors and its impact on the franchising market in Pakistan. The report also focuses on how technology and infrastructure can help in enhancing the franchising market. Moreover this report also focuses on the issue of the purchasing power of people and how it affects the franchising market. Questioners were distributed to the local population of...
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...factor of goal orientation. “A system that coordinates people, jobs and technology and management practices to achieve a goal” Umstot (1998). A business will always be owned by someone whether it’s an individual or hundreds, with different types of ownership and objectives. Although profit may not always be the main objective, as those of charities or government run enterprises, some profit will need to be made for them to continue in business long term. The majority of organisations will aim to make a profit however small or large. There are many types of business organisations, including sole traders, partnerships, public limited companies, private limited companies, franchises and those in the public sector e.g. local authority and N.H.S. Sole Traders This is a business owned by one person, and the most common according to BIS (Department for business innovation and skills statistical release 2013), its estimated 62.6% of UK businesses are sole traders, but as there is no central register for them it is hard to establish exact numbers, a sole trader will employ one or more people, and can easily be set up compared to other types of organisations, as it is cheap to do with minimal paperwork. There are many sole traders whose purpose is to provide a service i.e. window cleaners, hairdressers and plumbers. Some will be a small business that supplies a product like those of a newsagent or market trader selling fruit and veg. For example SAMS Plumbing ltd in hackney, north...
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...Gravois Bluff's, yet the location offers the same opportunity for sales. The recently completed highway 141 offers hundreds of thousands of local residents, shoppers from outside the area, and travelers that use this new highway. With this high concentration of customers there are no Italian restaurants in Fenton and a tremendous need for an upscale family restaurant that offers items for both the children and adults. This turnkey operation seats 170 customers and is the perfect size for a PHC family operation. With the current leasehold improvements and quality kitchen equipment it would take very little to upgrade this operation to the legendary PHC winning formula. The growth in numbers of high income families in the Fenton area is projected at over 30%. There is a need for a family fine dining restaurant in the Fenton area. PHC would be the perfect neighborhood restaurant in the perfect neighbourhood. The Pasta House Co. in Fenton will be the second location for Dennis Boldt, who has operated a successful franchise unit in High Ridge, Missouri for 20 years. The Pasta House Co. based out of St. Louis, and now has over 34 successful company and franchise locations in the United States and Mexico. PHC Fenton will have a prime location, great food, a proven concept, super franchise support, no competition, a senior management and crew, a fantastic neighborhood marketing program, a huge catering base to build on, personalized service in a warm Italian imported grocery store atmosphere...
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...Lifetime Value-companies are realizing that losing a customer means losing more than a single sale. It means losing the entire stream of purchases that the customer would make over a lifetime of patronage. Customer Perceived Value-the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers. Customer Relationship Management-is the overall process of building and maintain profitable customer relationships by delivering superior customer value and satisfaction. Customer Satisfaction-depends on the product’s perceived performance relative to a buyer’s expectations. Demands-human wants that are backed by buying power Exchange-is the act of obtaining a desired object from someone by offering something in return Internet-a vast public web of computer networks that connect users of all types all around the world to each other and to an amazingly large “information repository’ Market-is the set of actual and potential buyers of a product Marketing-the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Marketing Concept-holds that achieving organizational goals depends on knowing the needs and wants of target markets and building profitable relationships with them Marketing Myopia-many sellers make the mistake of paying more attention to the specific products they offer than to the benefits and experiences...
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...operating markets to others on their behalf. This is however indicating franchising as a political activity instead of the business activity. Moreover, according to some historians the very first example of the franchising indicating a method of conducting business is traced back in the mid nineteenth century in Germany where the contact was made with the tavern/bar owners in order to sell beer entirely in taverns. But, in the United States the earliest use of the franchising was not found in the taverns and breweries rather it started with the product selling the housewives that are located on U.S. prairie. However, in 1851, a singer named Isaac became the first U.S. franchisor of the product name when he started to sell the rights to the independent salesman in order to sell the sewing machine to the end users. Though, Singer Sewing Machine was the first U.S. product name or identity franchisor in America, but it was outpaced rapidly by another significant franchisor i.e., Coca Cola. Early, in 1890, Coca cola has chosen to franchise rights in order to bottle carbonated beverage to various businessmen that were doing business independently and and received limited territories in order to deliver the product in response of paying for and also assuming the distributional risk of the product....
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...business must scrutinize every aspect of their prospect operations to ensure they have covered every single component to ensure maximum success going forward. Once companies have gathered the necessary information through their research, they can properly assess the feasibility of their vision and make an appropriate decision. Comprehensive Analysis The fast food industry is continuing to grow and expand throughout the world, and each company is contemplating their role and position within this competitive environment. Chick-fil-A is no exception to this movement and is currently the number one fast food chicken venue in the United States. Despite their regional popularity, they do not have a significant presence in the international market for fast food. As Europe specifically the UK continues to add more fast food chains, Chick-fil-A has set their sights upon this market to expand their global presence. Before they begin organizing and planning their new vision, a high level of market research is necessary including a crucial analysis involving regional, country, and product. Region Analysis Regional Alliances and Economic Integration The UK is the third largest economy in Europe after Germany and France. Sixty percent of food produce is by UK’s agriculture,...
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...merged Au Bon Pain with Ronald Shaich’s company The Cookie Jar in 1981. Au Bon Pain, looking to move away from their urban niche market, acquired the St. Louis Bread Company in 1993, a 19 store company with a more suburban marketplace. In 1999, after performing market research and studying their newly acquired bakery-concept, the company decided to sell Au Bon Pain and form a new concept, Panera Bread. (Panera Bread Company Overview, 2013) Panera Bread Company - Business Description Panera Bread Company (Panera Bread) is a national bakery-cafe concept involved in providing bakery products through a network of bakery-cafes. It is one of the largest food service companies in the US, serving over seven million customers per week system-wide. Its products are freshly baked goods which include a diverse selection of bagels, breads, muffins, scones, rolls, and sweet goods, made-to-order sandwiches, unique soups and side items, hand-tossed salads, and custom roasted coffees and cafe beverages, including hot or cold espresso, cappuccino drinks and smoothies. The company operates under the trademarked names Panera Bread, Saint Louis Bread Co. and Paradise Bakery & Cafe. Panera Bread operates through three business segments, namely, Company Bakery-Cafe Operations, Franchise Operations, and Fresh Dough and Other Product Operations. The Company Bakery-Cafe Operations segment operates through 809 company-owned bakery-cafes which are principally located throughout the US and in Ontario...
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...wait-staff; LSRs do not have wait-staff. The top five countries, in terms of total number of foodservice outlets, are: China, India, Brazil, Japan, and the US. The industry is of low concentration. Combined, the top industry players make up less than 3% of total global industry revenues. In terms of size, 2013 global sales were $2.6T, up 4.9%. The 2013 global labor force was 62.4M employees, up 2.4%. In accordance with Porter’s Five Forces framework, the forces that shape competition in the restaurant industry have a moderate to high impact on competitiveness. There is a moderate threat of new entrants and a high threat of substitutes. Buyers have a high degree of bargaining power and suppliers have a moderate degree of bargaining power. The restaurant industry is highly competitive and experiences intense rivalry. In terms of macro-environmental factors, emerging markets around the world over are having an impact on how restaurants execute strategy both domestically and abroad. The growth of the middle class in emerging markets, such as China and India, presents a new demographic and an opportunity for quality growth in an industry that is simultaneously experiencing levels of maturity in the US and European markets. Internal analyses of the industry’s top players yields an in depth look into McDonald’s, Yum Brands, Burger King, and Darden Restaurants. McDonald’s is the industry leader in terms of revenues with $89B in 2013 systemwide sales, more than double of...
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...Introduction to Retail Retail comes from the French word retailler, which refers to "cutting off my hands, clip and divide" in terms of tailoring (1365). It first was recorded as a noun with the meaning of a "sale in small quantities" in 1433 (French). Its literal meaning for retail was to "cut off, shred, off my toes paring".[2] Like the French, the word retail in both Dutch and German (detailhandel and Einzelhandel respectively), also refers to the sale of small quantities of items. Retail consists of the sale of goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser.[1] Retailing may include subordinated services, such as delivery. Purchasers may be individuals or businesses. In commerce, a "retailer" buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells smaller quantities to the end-user. Retail establishments are often called shops or stores. Retailers are at the end of the supply chain. Manufacturing marketers see the process of retailing as a necessary part of their overall distribution strategy. The term "retailer" is also applied where a service provider services the needs of a large number of individuals, such as a public utility, like electric power. Shops may be on residential streets, shopping streets with few or no houses or in a shopping mall. Shopping streets may be for...
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...Franchising and Franchise relationship Introduction Various researchers that have developed models for examining businesses over years assume that companies should pass through four stages during their life cycle: start-up, growth, maturity and decline. The most critical of all are the start-up and growth stages. In the first stage the business makes its primary steps in attempt to create a market presence, the primary base of customers. The start-up stage is generally characterized by innovation, high risk, and low profit margins. Stage two or the growth phase of the business is when the business establishes its niche in the market. This is the phase where the business owners start to establish their brand identity and generate brand loyalty within their customer base using sound marketing practices. Although the focus of this stage is to maintain the core customer group and build trust and goodwill among the customers, this stage is marked by a rise in consumer demand and a consequent requirement of increased inputs in terms of production, manufacturing, and general operations to keep up with the rising sales and continue growth. The growth phase is thus marked by increased sales, rise in profit margins and thus establishment of the brand name in the market. Once you have given consideration to expanding, the next step is determining the best method to grow your business. The business has many strategies available. The company can choose to go along with...
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