Taco Bell Marketing Essay

Taco Bell Marketing Essay

Which taking a look at the benefits creates the right opportunity in opening a new junk food concept, which supplies a different delicacies from the current trends within a fast food format into the Hong Kong market. Environmental Analysis SWOT Analysis Strengths| Weaknesses| 1 ) Established a massive brand recognition and devotion. Tremendous amounts of consumer satisfaction. | 1 . Local customer tastes must be adapted to Mexican delicacies. | installment payments on your High Quality goods, at fairly reasonable prices. | 2 . House prices are relatively costly, high operating costs. | 3. Quite new strategy could create focus and buzz. | 3. Not a extremely health conscious menu could be unpleasant to target users. | four.

Sole Mexican cuisine junk food concept cycle. | | Opportunities | Threats| 1 ) Introduce Home/Office delivery solutions. | 1 ) Existing well-established fast food restaurants, e. g. McDonalds, KFC, Subway, Bistro de Coral etc . | 2 . Experiment with local needs/taste, incorporate neighborhood flavors and delicacies. | 2 . Will not be appreciated by Hong Kong general public. | three or more. Possibility to build up drive through, to create easy accessibility pertaining to consumers. 3. Existing Mexican restaurants which have established manufacturer loyalty among Hong Kong consumers. | four. Establish stores where college students and working people can easily get.

E. g. office structures, university campuses, shopping malls etc . | | PEST Examination Political: The political condition in Hong Kong is comparatively stable, consequently introducing a north american based junk food chain, will not have any kind of impacts or create any problems coming from a political aspect. Since Hong Kong isn’t facing any political stress or disturbances domestically or perhaps internationally. Cost effective: There are several economical impacts that will incur because Taco Bell starts the operations in Hong Kong.

First of all, starting a new fast food chain would make domestic employment, as careers will be made available towards the regional citizens. Furthermore everyone generating will then spend taxes that will result in an increase in government revenue as the business gradually starts to increase it is operations inside Hong Kong premises. Social: The social factor also procedes play a massive role when establishing a new fast food string, as this acts upon the consumers’ values and beliefs. So many people are known to be relatively health conscious, hence therefore an aspect that Palabrota Bell must consider may be the quality and the healthiness in the food that is to be served to the local consumers.

If the top quality of meals is compromised it could then simply impact the need for the foodstuff and could prevent the company development. Furthermore aside from the food factor, Taco Bells will also need to consider their Corporate Cultural Responsibility factors of treating their employees in an sufficient manner and rewarding these what they should have, and also the environment factor and also to maintain the clean environment Hk stresses, nd to reduce squander and place weighty emphasis on packaging their meals with recyclable and biodegradable materials. Technical: Technology is shown to be growing and rapidly changing all around the world.

Hong Kong is known to be a extremely technology structured country, exactly where majority of the business is done around technology, hence therefore there are several technological elements to which Follon Bell may adapt to to be able to bring confident impacts for the chain. One method would be to adjust company websites on which the menu and other promotional companies can be placed, to be able to increase convenience for users. Besides websites we are at present living in the Smartphone eras, hence growing apps based upon the website and perhaps exploiting the opportunities of providing solutions on-the-go plus the ability to deliver from the software can definitely create positive development to the firm.

Therefore searching for these scientific methods can definitely increase the company value. Hk Fast Food Market Trends Promoting Analysis While Taco Bells enters the Hong Kong fast food industry, it’ll have to create quick effects, because of the existing competition that have previously established themselves within the marketplace. Franchises such as McDonalds and KFC, established themselves since the innovators of bring western foodstuff to Hong Kong in the late 70s and 1980s. Which has induced further foreign investors including Pizza Hut’ Burger King’ to name a few.

Alongside local business people who have acquired a significant business with Cafe de Coral’, Maxims’ and Fairwood. ‘ McDonalds and KFC happen to be shown to have top stocks in the HASTKRAFTER fast food sector at 22% and 14% respectively. Whereas the local dispenses combined possess only managed 10%. The rest is accumulated with the various other foreign operation chains, which will each have market shares below the 10% indicate.

Which will not really significantly influence Taco Bell. Besides junk food, bringing in a Tex-Mex cuisine won’t become something new towards the Hong Kong community, as there are a number of Mexican eating places that provide identical products and provides the public requirements. However Follon Bell is likely to hold competitive advantage together with the fact that it has an established name brand and the capacity to serve speedy, good quality and reasonable foodstuffs which correlates with what the restaurants serve.

Target Market The primary target market on this fast food sequence is mainly geared towards the working human population, students and teenagers of Hong Kong. As the fact that it is a fast food sequence, its primary objective should be to provide speedy serviced foodstuff at reasonable prices, hence including working and student budget people, rather then the expensive consumers of Hong Kong. In addition to the financial component, the population who also are keen on a different cuisine of food, concentrating on the diversified population of Hong Kong, and not only to one particular ethnicity however the citizens who are on a specific budget is the main target market. Advertising Mix Parameters Price: It will also have to consider the budget amount chosen target audience.

As establishing an maximum level might then result in a demand, although if the price are placed way too high, it could slow down demand and if price the purchase price is placed lacking, although it might create a significant demand, however operating costs might not be covered and could bring about financial deficits. Product: The item will be the standardized menu that is set all around the world. This will include the food items which will taco bells is known to end up being most famous for.

Although it will certainly serve the typical types of food items, in order to suit the Hk market it can also then check out the tastes and developments of the regional population and the eating habits, which could be included within the restaurant menu. Place: The perfect places to reach out with their consumers, is always to open all their branches within our minutes away from local school campuses, this would result in convenient accessibility to get the students who would be able to grab and get, or have the choice to eat in the restaurant premises.

Besides wedding caterers to the pupils, to make it convenient intended for the working human population of Hong Kong, the best spots would be beginning stalls and restaurants within an office building philosophy or shopping malls which are placed around the business areas of Hong Kong, in order to generate ease of option of the working inhabitants of Hong Kong. Promotion: Strategies such as marketing is a great option, as Palabrota Bell has already been a well set up fast food chain, hence posting advertisements on neighborhood newspapers and magazines can easily immediately create effects as the studies show that 1 in 7 people in Hong Kong read some sort of paper or journals on a daily basis. This process is the most ideal in terms of creating brand understanding within Hong Kong.

Furthermore, throughout the aid of promotional websites such as www. groupon. com. hk and www. beecrazy. com. hastkrafter that promote upcoming products, services while offering can definitely help reach out to all their potential customers and create demand. These types of methods can definitely bring good success, once the promo period begins. Conclusion To summarize by implementing the correct promoting mix methods and currently taking account with the various elements which was viewed through in the PEST analysis, it can be attracted to conclusion that although Palabrota Bell can enter the industry with fairly high competition, however as a result of already well established brand name as well as the fact that its products tend to vary quite substantially in comparison to the leading competitors, it could gain coming from being diverse.