Marketing research, Taco Bell Essay Example

Marketing research, Taco Bell Paper Many factors, both within the organization and in the market, have the potential to influence the success or failure of a companys internationalization. In order to put itself in the best position to succeed (or to prevent failure), a company must conduct an in-depth analysis of these factors and use that analysis to make an educated decision as to whether or not they should expand their business abroad. Strengths and weaknesses of the organization must be evaluated. Also, there are opportunities and threats that exist outside the control of the organization in the market that must be assessed. By determining the strengths, weaknesses, opportunities, and threats through analyzing the company and market research, it will be possible to determine if internationalizing Taco Bell to Great Britain is a financially lucrative and promising decision. Strengths Based on the marketing research, Taco Bell has many strengths that would help it succeed in an internationalization effort in Great Britain. Its primary strength is its corporate ownership. Taco Bell is owned by YUM! Brands, an international organization consisting of six subsidiaries*. Those subsidiaries include Taco Bell, Pizza Hut, KFC, AW All American Food Restaurants, and Long John Silvers. YUM! has successfully franchised on an international level, and has done particularly well with Pizza Hut and KFC, featuring 4,348 and 7,088 international units respectively*. Taco Bell itself has internationalized as well, with 209 international units. Another positive aspect in terms of these YUM! Brands figures, is that there are 578 KFCs and 522 Pizza Huts in the UK already, but there are currently no Taco Bells*. These figures imply YUM! Brands would be able to successfully internationalize another of their leading subsidiaries in a market in which they have already been successful. We will write a custom essay sample on Marketing research, Taco Bell specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing research, Taco Bell specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing research, Taco Bell specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In terms of their franchising strength, YUM! Brands provides the resources Taco Bell would need to establish a lucrative franchise in Great Britain. There are ten Franchise Restaurant Support Centers throughout the world to aid in YUM! Brands franchising. The center for Europe and Great Britain is actually located in England, providing an accessible support center for a newly established Taco Bell franchise*. Within the company there is the personnel support to aid in Taco Bells internationalization to Great Britain. While Taco Bell is under the control of its president and chief operating officer, it also has the extended support of the YUM! Brands executive officers. Furthermore there is actually a separate division called YUM! Restaurants International that would provide additional support to Taco Bell*. As an added support resource within the context of the organization, YUM! has their own board of directors. The board consists of twelve members, each possessing their own valuable experience with other large and often international corporations, which is able to provide valuable advice and support regarding Taco Bells new project. Weaknesses Despite the numerous strengths of the Taco Bell organization and YUM! Brands, there are some important potential weaknesses within the organization to consider before internationalizing. YUM! Brands reliance on franchising, Taco Bells reliance on beef as a cheap, staple product, and the image of Taco Bell as an American restaurant are all possible weaknesses that stem from the organization. Over 80% of YUM! Brands restaurants are franchised. YUM! Brands has had great success with this internationalization mode with existing KFCs and Pizza Huts, however, their reliance on franchising may hurt when trying to introduce a new restaurant, such as Taco Bell in Great Britain*. The culture and expectations of Taco Bell are not yet known in the UK, so the new franchise may not coordinate itself with the company image as well as it should. Another serious detriment for Taco Bells expansion into the UK is their reliance on cheap available beef. Due to regulations in the market (covered later), beef is not a cheap and readily available product in the UK. Many Taco Bell products contain beef and their products are known for being very inexpensive. With beef being more expensive, this creates a problem for Taco Bells core menu and prices*. An interesting weakness for Taco Bell may be its overall image. KFC and Pizza Hut serve American food in an American atmosphere both domestically and abroad. Taco Bell is distinct in that it is supposed to be a Mexican restaurant*. Domestically, the atmosphere of Taco Bell is the same as any other American fast food restaurant, but abroad, consumers may prefer a more Mexican, rather than American approach. Taco Bells American image may create difficulties when attempting to persuade customers that it is a Mexican restaurant. Opportunities Many opportunities exist for the internationalization of Taco Bell in the United Kingdom. Aspects of the British culture, economy, and general food market support the introduction of a Mexican fast food chain. British consumers enjoy spicy food, Indian food being one of the most popular foods. They also enjoy variety and novelty in food choices. Mexican food is generally spicy and Taco Bells line of spicy sauces give consumers a choice in how spicy the food tastes as well as providing an alternative to everyday British food*. Also, living in the UK is quite expensive, especially in London, and Taco Bell appeals to the price sensitive nature of most British consumers*. The ethnic food market in the UK is growing rapidly with Mexican food as one of the fastest growing sectors. Consumer food preferences are evolving to fit the increasingly fast paced lifestyles of the British*. Taco Bell has the opportunity to take advantage of consumers needs for rapidly prepared food. Many consumers have expressed an interest in Mexican food, yet there are few Mexican restaurants. Taco Bell can fill the niche and gain a share of the large ethnic and fast food markets. Taco Bell can gain the first mover advantage in internationalizing to the UK, as there are currently no direct competitors*. The UK has favorable psychological distance from the US. Trade, customs, and governmental policies are well understood by the US and it will not be difficult for Taco Bell to market itself effectively in the UK. Many US citizens also travel to the UK and know little about or do not enjoy British food thus creating a demand for American chains*. McDonalds, for example, has done very well in the UK. Threats Potential threats of Taco Bells entrance involve mainly the legal and economic environment of the UK and its fast food industry. The strict food safety regulations which require beef imported from the US to be tested and prohibit the import of hormone treated meat in the UK complicate the procedures for Taco Bell to acquire and sell their food. This increases their cost, as they have to find suitable meat suppliers and ensure their meats are hormone free. As the UK government is open to foreign investments and free trade, the few regulations and stable economy makes the UK market attractive to many foreign firms. One threat Taco Bell should note is the continuously growing fast food industry and the fact that Mexican food is one of the three most popular foods in the ethic food industry*. As there is currently no established Mexican fast food chain in the UK, Taco Bell could take up great risks including the significant pioneering costs of being the first mover in this market*. Taco Bells main competition includes McDonalds, traditional Mexican restaurants, Indian, Asian, as well as local cuisine*. However, their competition does not fall directly into the Mexican fast food category. Final Analysis The S.W.O.T analysis taken from the marketing research indicates that Taco Bell should internationalize and the United Kingdom will provide a lucrative market. YUM! Brands has proved successful in internationalizing its other leading subsidiaries in the UK market. It has a well-defined franchising plan including a support center located in the UK, which can ameliorate the possible weakness involved with introducing a new restaurant through franchising. Taco Bell has the opportunity to fill a niche within the UK fast food market and appeal to British consumer preferences for spicy, rapidly prepared food. Entering the niche market as a first mover may include high pioneering costs, but allows Taco Bell to take advantage of the rapidly growing ethnic food market. As a result of weighing the organizational strengths against the weakness and market opportunities against the possible threats*, the analysis proves that with careful planning, internationalizing Taco Bell to the UK should be a success.

Training day essays

Training day essays Everyday there is a war being waged on America's inner city streetsa war between residents, drug dealers and the people sworn to protect one from the other. This war has its casualties, none greater than L.A.P.D. Detective Sergeant Alonzo Harris, a 13-year veteran narcotics officer whose questionable methodology blurs the line between legality and corruption. His optimism has long since been chipped away by his tour of duty in the streets, where fighting crime by the book can get you killed and getting the job done often requires Alonzo and his colleagues to break the laws they are empowered to enforce. This crime tale shadows Alonzo as he tests the resolve of wide-eyed, idealistic rookie Jake Hoyt, who has one day and one day only to prove himself to his fiercely charismatic superior. Over the next 24-hours, Jake will be pulled deeper and deeper into the ethical mire of Alonzo's logic as both men put their lives and careers on the line to serve their conflicting notions of justice It's obvious why perennial good-guy Denzel Washington was intrigued by the malevolent role of veteran L.A.P.D. Detective Sergeant Alonzo Harris, who heads an elite, undercover narcotics squad. He's a dedicated rogue cop who's glib that "you gotta have a little dirt on you for anyone to trust you." His "street justice" ethics and morality are outside the norm but he has his own ambiguous integrity. So when Jake Hoyt, an idealistic rookie, played by Ethan Hawke, wants to join his unit, Harris gives him 24 hours to prove himself saying, "You've got today and today only to show me what you're made of....You've got to decide if you're a sheep or a wolf." Their day begins with drugs and alcohol, part of "getting to know the streets," and includes extortion, execution, and a $4 million seizure, which quickly decreases to $3 million as the corrupt cops take their cut. "It's ugly but it's necessary," rationalizes Harris. "Play the game, grow wise and then you can...

Effective Leadership Style in Controlling the High Employee Turnover Thesis

Effective Leadership Style in Controlling the High Employee Turnover Rate within Nursing Faculties - Thesis Example The nursing facilities in UK are experiencing a 12.2% reduction as of 2010 (Buchan and Seccombe, 2012, p. 21). In Canada, â€Å"a shortage of 20,000 nurses† was reported in 2012 (Coutts, Nursing faculty leaders in US, UK, Canada, and Australia are experiencing problems related to recruitment and retention (American Association of Colleges of Nursing, 2013a; National Black Nurses Association, 2013; Laschinger et al., 2009; Longley, Shaw and Dolan, 2007). To solve problems related to recruitment, nursing faculties in US, UK, Canada, and Australia are continuously hiring nurses from different counties around the world (Netzwerk Migration in Europa, 2013). In Canada, low salary is one reason why nursing educators in this area are looking for other more promising job opportunities (Cash, Doyle and Tettenborn, 2011). Nursing faculties in US, UK, Canada, and Australia are having problem retaining nurses in the field of education. Aside from unattractive payment scheme, other reasons that causes poor retention includes lack of trust and collaboration among the nursing staff, over-worked, absence of career opportunities, no proper recognition for good work performance, absence of control over job performance, and poor communication among the faculty members (Hunt, 2009, p. 2). To solve retention, problem, nursing faculties in US, UK, Canada, and Australia will have to use transformational leadership not only to help them create a healthy and attractive work environment which is necessary in increasing the work satisfaction of registered nurses who wish to pursue a career in teaching (Cummings et al., 2009; Nielsen et al., 2009; Raup, 2008). Furthermore, Nielsen et al. (2009) mentioned that there is a strong relationship between the use of transformational leadership style and the decrease in work-related stress and burnout. By solving problems related to stress, burnout and poor working environment, the nursing faculties in US, UK,

Discussion Forum Post Essay Example | Topics and Well Written Essays - 250 words - 3

Discussion Forum Post - Essay Example I do agree with Castiglione to some extent, but I think that he overlooked the fact that for individuals to perform well they need to acquire experience in the field they are engaged in. I think that no man can be perfect in all areas; everyone has a strong and a weak point. In addition, he never considered the moral values of a gentleman. This is emphasised in the book The American gentleman where the author describes a gentleman as a person who gives room for character development. He is a person that proves to others that he is committed to following the moral high road and acquires his personality and continuously developing, which is associated with his actions. The author also highlights that being a gentleman necessitated self-sacrifice, needs efforts and that a gentleman offers himself freely without expectations for anything in return (Hall v). Yes I agree with Machiavelli’s conviction that a leader must never trust anyone because as written in the selected political writings it is hard to anticipate an armed person would obey a defenceless person gratefully or a person who is not armed would feel secure in the hands of armed employees. This is due to the fact an armed individual disrespects a person who is not armed, and the defenceless person does not have confidence in anyone who can overthrow him. The author describes a wise ruler as the one who is always working in periods of peace taking the advantage of the calm period to prepare for trouble and when disaster strikes he must be ready to retaliate (Machiavelli & Wootton

Satisfying Customers Needs And Wants Marketing Essay

Satisfying Customers Needs And Wants Marketing Essay Marketing has often been defined in terms of satisfying customers needs and wants. Critics however maintain that marketing goes beyond that and creates needs and wants that did not exist before, According to these critics, marketers encourage consumers to spend more money than they should on goods and services they really do not need. Marketing process can be explained as creating value for customers and building customer relationship by doing this the organisation makes profit The various elements of marketing process can be classified as follow Fig 1 Understanding the market place and customers needs and wants is achieved through in-depth market research and thereby identifying a product gap or needs gap. This will involve trends , how to make things easier , comfortable, better and user friendly. In the early 80s there were few or no mobile phones. A thorough market research has created the need for mobile phones, then came the massive first generation mobile phones. This were later followed by smaller ones and these days we can see the smart phones with inbuilt cameras, time online movies and news ability to actual work from your mobile Samsung note to the new tablets. Every day specialist market research companies, innovators, technicians and scientist all work hand on hand to create a new niche market or brand that makes our lives much more comfortable. Even the pay as you go concept became apparent as people could not continue to pay the incredible high cost then been charged by manufacturers who were looking at ways to cover the cost of their research and development. So the critics may not be far from the truth but the ideal is marketers coming with ways and products that makes our lives easy. Design a customer driven marketing strategy. Marketing strategy is a long term means of achieving a corporate objective. If we take the example of the mobile phone industry where the likes of Samsung, IPhone, Nokia are in serious competition each as to design a marketing strategy to capture a share of the market. Like a military personnel will define the art of going to warfare. Marketing program that delivers superior value : This refers to the marketing mix that is the 4ps Usually referring to E. Jerome McCarthys  [1]  Ã‚  4 P classifications for developing an effective marketing strategy, which encompasses: product, price, placement (distribution) and promotion. When its a consumer-centric marketing mix, it  has been extended to include  three more Ps: people, process and physical evidence, and  three Cs: cost, consumer and competitor. Depending on the industry and the target of the marketing plan, marketing managers will take various approaches to each of the four Ps. The benefits and cost of marketing orientation Market orientation is the understanding of customers requirement and creation of marketing mix which will meet these needs. Market driven means the firms capability to understand, attract and keep valuable customers G. Armstrong and P. Kotler define marketing as social and managing process by which the individuals and groups procure what they need by creating and exchanging values with others.  [2]   A market-oriented company is in a position to achieve competitive advantage thanks to its unique innovative approach to customers. In addition to this, according to the opinion of P. R. Dickson, a competitive advantage should be understood in the sense of dynamics of competition. He expresses disagreement with the standpoint of neoclassic theory of market equilibrium and claims that the main characteristic of the market is its disequilibrium. He sees marketing as a science and skill of creating changes (disequilibrium) in the market in the manner that would provide for the changes that are beneficial for the company. Various responses of salespersons and customers to changes in supply and demand, thinks Dickson, create possibilities that could be used by the company that understands market. He underlines the importance of adjusting company to the market occurrences.  [3]   Benefits and cost of market orientation Figure 2: Customer relationship groups Source: G. Armstrong, P. Kotler, Marketing: An Introduction, 7. ed., Pearson/Prentice-Hall, Upper Saddle River, NJ, 2005, p. 25. The above summaries the benefits and cost of market Orientation other advantages and disadvantages. Responding to Demand Building Customer Value Disadvantages Extensive and Expensive Research and Increased cost. Micro and Macro environmental factors that affect marketing Decision The micro environmental factors are factors that can be controlled by the organisation and relates directly with the business these are considered using the factors in fig 3 Micro Environmental factors Fig 3 Fig 4 shows how different public affects organisation. The public that affect the marketing decision of the yet they can be controlled and are regarded as micro are the relation with the following members of this public e.g Financial public this is based on say for example the organisations annual returns. Fig 4 Macro Environmental Factors The Target market for mobile phones companies and IT companies are more likely to be the high income earning spectrum of the society or the new graduates and the city bankers and young people in the top echelon of society who will be able to afford the integrated packages that are about to be launched into the market very soon The package will include home entertainment, office package, security package, phone and video calls and financial/banking package all launched as one integrated hand held device. Market segmentation, and Target is followed by positioning, this should be developed and implemented by creating an image for the product, profiling the target market, High Tech gadgets like this integrated hand held device will be bought based on the technical specification what comfort or ease of doing a task it provide. Buying Behaviourur is the way and act of people involved in buying and using products. To understand these we need to consider, why a buyer will make a purchase, what factors influence will influence a buyer to buy a certain product. Buying Behaviour refers to how people will behave when buying a certain product. A firm needs to consider and study buying behaviourur and peoples reactions to the organisation marketing strategy has this will have great impact on the firms success. The marketing concept show how a marketing mix (MM) that satisfies (gives utility to) customers, hence it important to understand the what, where, when and how consumers buy. Stages of the Consumer Buying Process There are Six Stages to the Consumer Buying Decision Process (For complex decisions). Problem Recognition Information search The evoked set. Evaluation of Alternatives Purchase decision- Post Purchase decision Buying behaviour is often determined by the level of consumer involvement in the purchase decisions, the importance and level of interest the consumer decisions is determined by the motivation to seek information about the product or service. High involvement purchase such as buy a luxury car or other expensive items. Also the element of risk involved in the use of the product that is the social risk and the economic risk. The four type of consumer buying behaviour: Routine Response/Programmed Behaviourr, Limited Decision Making, Extensive Decision Making/Complex, impulse buying, Routine Response/Programmed behaviour this are low involvement very little or no decision effort is required E.g. A can drink . Limited Decision Making- This are product bought occasionally example are like clothing but not brands Extensive Decision Making/Complex: This involves unfamiliar, expensive and infrequently bought goods. It involves a high degree of economic performance, and psychological risk. e.g. cars, homes, computers, it also involves a lot of time seeking information and deciding. and consumers will go through all six stages of the buying process. Impulse buying, this are purchase which are unplanned it like buying chewing gum in the Conner shop without actually thinking about it. Also prices at time lead to impulse buying. They are usually low valued items. Ethan Lyon said The goal of market positioning is to find the ideal opportunity in the market based on customer needs, market forces and financial and strategic considerations. Once the market opportunity is identified then the organisation can further develop its product and elevate its brand to deliver outstanding value. To clarify the market position, the firm will need to find an overarching theme, then define the details. (sparxoo.com) Brand Idea-The idea is an aspirational concept it defines the idea of what the company. For example the Samsung note goes with the concept of designed for human Value Proposition- A customer or a consumer buyers the Samsung note they see high value and high quality Differentiating Attributes-Samsung has distinguished itself from Apple by targeting the main stream yet providing quality and comparable or better phones than those provided by Apple Word count1450

Persuasive Speech Essay

It has been proven that wellness programs in the workplace can increase productivity and elevate work environment moods while decreasing health related work issues and decreasing overall companywide health care costs. By taking some simple steps toward implementing a wellness program in the workplace we will be able to save money on health care, cut down on health issues that increase absenteeism, and increase productivity through more energy and upbeat attitudes. Why do we as a company want to implement a wellness program? There are many beneficial reasons for doing so. We will decrease unnecessary costs due to unhealthy lifestyles. For example; Healthier employee’s leads to lower premiums and healthier employees also lead to less missed days and injuries. Also, healthy employees are more success oriented. This can be seen by increased productivity and the fact that healthy minds bring healthy attitudes and stronger morale. So now you are saying to yourself that this sounds g reat, but it must be complicated to initiate a program of this nature. Well let’s look at the steps needed to implement a wellness program in our office. To begin, we would want to survey our employees to find the goals we want to achieve, and then determine what we need to accomplish these goals. After setting our goals it may be in our best interests to consult with a firm that specializes in designing and implementing workplace wellness programs. By setting the goals and consulting with specialists we can now start to create a budget through the use of data that is based on our investment to return ratio. It is important to determine our company’s monetary investment so that the program itself will not suffer from interruptions or lack of funding. It may also help to create a rewards system to enhance companywide involvement. So now we have a wellness program designed that is based off of our group goals, a budget in place, and the program is ready to be implemented. It will now become important to keep the program running smoothly. By the use of meetings we can discuss our movement towards our goals and highlight positive personal stories. We could also provide health and wellness screening that can give both the employees and our company important feedback. Also we could look into group packages for gyms and health clubs. Lastly, by using reward based games we can continue to provide motivation and this will assist in keeping maximum involvement in the company wellness program. In closing, I know that if we as a company initiate a workplace

Ragging in Colleges Essay

The accurate meaning of the word ‘ragging’ is to ‘tease’, but even the dictionary says it is an archaic meaning. The main objective of ragging is to ‘break the ice’ between the senior students and the new entrants. Ragging is any disorderly conduct whether spoken or written or by an act which causes annoyance, hardship or psychological harm or raises fear or shame in a student. It is generally committed by ‘senior’ students, upon the first year students. Ragging generally takes place in colleges and hostels. The new students feel that they are in for a series of practical jokes at the hands of the senior students. Once they fall into the clutches of the latter, they don’t find a way to escape. There are a few senior students in every hostel who don’t take enough interest in studies. They indulge in ragging, bullying etc. They create an image of themselves as rowdies. No one dares to interfere with their ways. Ragging o riginated in the west. But today, it has reached the Indian society too. Some people feel that it is a socio-cultural problem. The truth is that in some cases, ragging has occasionally, ended in fighting, serious injuries, and even deaths, leading to the ruin of some brilliant careers. Senior students tease the new students about their looks and manners. Students wearing glasses, have their glasses snatched away and are made to read without them. Sometimes the eatables brought by the new students are eaten by the seniors in the formers’ presence. A new student who resists becomes a target for harassment.During the trail, he might be forced to admit his guilt, he is pressurised by physical threats and humiliation. After the trail, the accused asked to polish the shoes of his senior students. Ragging has some positive effect too on the new students. It influences the new students to behave in a socially acceptable way. It makes one change one’ eccentric behavior. It creates self- awareness. Those who endure it get emboldened. They become courageous. They get used to facing hardships in life. They learn to face unpleasant situation boldly. Many a time, it is seen that the juniors and the seniors become very good friends after the ragging period. In the beginning, ‘ragging’ was an amusing practice. it has degen erated into an evil. It has become a synonym for ‘torture’. It should be banned. The supreme court of India has defined it as. â€Å"Any disorderly conduct whether by words spoken, or written or by act which adversely affect the physique or psyche of fresher or a junior student is an act of ragging.† But if through  ragging the decency and morals are violated, one’s body gets injured, if any wrongful restraint and criminals intimidation is involved in it, then ragging becomes a legal offence. More effective steps need to be taken to deal with the evil. Institutes should arrange counseling session for fresher so that they can speak their mind. Anti ragging cells should also be established. A fresher party should be organized by the institutes itself within town weeks of the academic session so that junior and senior can easily interact with one another.