Suppose you are tasked to open a restaurant in your hometown. Identify what type of a restaurant/and or food you would put up/serve – fast food, fast casual, fine dining, etc.
Discuss/justify your choice given the concepts covered in monopolistic competitive markets – be specific. How will you compete with already existing restaurants in your hometown? Be specific. Are you likely going to earn economic profits in the long-run? Why or why not?
Since all the restaurants actually come under the monopolistic competition, can we mention that I would actually offer a fast food restaurant in this is because of the fact that the fixed cost would be low and the break-even would reach soon when compared to that of other types purchase casual dining and fine dining. Apart from that the differentiation level can be more in terms of quality as well as the cuisine at a very low cost in a fast food restaurant which is actually required for the monopolistic competitive markets to survive at the price in the market and the main tool I would use is differentiation where it can be mentioned that economic profits in the long run wouldn't be earned as many new firms enter the market and the product differentiation level will go down
Suppose you are tasked to open a restaurant in your hometown. Identify what type of a...
When Walmart decided to incorporate grocery stores into some locations to create “supercenters,” was this a business-level strategy of differentiation or a corporate-level strategy of diversification? Why? Explain your answer Franchising is widely used in the casual dining and fast food industry, yet Starbucks is quite successful with a large number of company-owned stores. For example, while McDonald’s is moving towards a 95% franchised model, 50% of Starbucks' restaurants are still company owned. How do you explain this difference? Is...
Nina’s Mexican-Style Restaurant Nina’s is a casual style, full service restaurant. The average meal ticket is $14.63 per person. The waiters serve some of the finest Mexican-style food in the United States. They are primarily located in the South. The hours of service are 11:00am to 11:00pm Sunday through Friday and 11:00am to 1:00am Saturday. Nina’s, surprisingly, currently prefers to take over well-located existing restaurant facilities and convert them into Nina’s restaurants. This has resulted in lower start-up costs and...
(6 marks) "The past eight months have been devastating for Hong Kong's food and beverage industry as a result of anti-government protests and now, the coronavirus outbreak. A slew of fine dining restaurants have temporarily closed - the most recent being John Anthony, Theo Mistral by Theo Randall, Gaddi's, Chesa and LH Group's hotpor outlets, as well as many in Macau. Meanwhile, Hunter & the Chase, Bibo and Root Central are among the restaurants in Hong Kong to have closed...
Based on your own knowledge of Disney and the information provided in the scenario, does Disney appear to create value in its businesses primarily through a cost leadership or through a differentiation strategy? Why do you think that Mickey's Kitchen failed? Support your answer with a logical argument, using business-level strategy, relationship between customers and business-level strategies, five forces of competition model WALT DISNEY COMPANY Walt Disney Company is famed for its creativity, strong global brand, and uncanny ability to...
A contest at a fast-food restaurant offered cash prizes and the probabilities of winning on one visit are shown to the right. Suppose you spend $1 to buy a bus pass that lets you go to 26 different restaurants in the chain and pick up entry forms. Find your expected value.Prize Probability$100,000 1/7,804,800$25,000 1/1,560,960$5,000 1/780,480$1,000 1/97,560$100 1/19,512$5 1/4,878$1 1/542
I am consulting you on this situation, individually, for your expert advice. We have been approached by a large restaurant franchise that is having trouble staying competitive in the casual dining market. This client’s performance had been slipping, employees are becoming disengaged. As part of their strategy to stay competitive, the company has strategically decided to add a line of upscale food and alcoholic beverages to their menu. The CEO of this company has asked for our consultation services. She...
Marketing Plan: Product Identification and SWOT Analysis What needs to be done. The focus of your marketing plan can be a new product/service idea of your own or an existing product/ service. I have chosen to do a marketing product and SWOT analysis for the company Walmart. Here is an example but in of McDonald's I'm doing the company WALMART About WALMART should contain paragraphs that cover like the example pictures above. Should include The SWOT analysis that I'm doing...
Read through the case study and answer the following questions: Using appropriate concepts and theories from Block 2, Session 2, identify and discuss three main threats and three main opportunities that should be considered by Yum! in expanding its global reach within emerging markets such as China. (25 marks) Twelve marks will be awarded on the basis of the appropriateness of the three main threats and three main opportunities that you have identified (two marks each); there are no standard...
Case 18: Chipotle Mexican Grill, Inc.: The International Challenge Do overseas markets offer attractive growth opportunities for chipotle? If so should, chipotle replicate its US strategy in overseas markets, or does if need to adjust the local circumstances- if so how? In particular, should chipotle directly own and manage its overseas restaurants or should I opt for a joint venture or franchising? Complete a porter 5 forces analysis for the firm plus “1” technology impact? Case 18 Chipotle Mexican Grill,...
Using appropriate concepts and theories from Block 2, Session 2, identify and discuss three main threats and three main opportunities that should be considered by Yum! in expanding its global reach within emerging markets such as China. (25 marks) um! The Fast Food Giant Eating up the World Yum! Brands is an American fast food company, headquartered in Louisville, Kentucky. It is one of the world’s largest fast food restaurant companies, and owns some big name restaurant chains such as...