The following is a business assignment that involved the creation of a poster and also a video script. It was created by us for a student who was studying master’s in international business at a reputed university in the UK. The objective of the poster is to discuss entry barriers of a fast-food restaurant chain to an emerging economy.
We have selected Chick-fil-A as the fast-food chain restaurant in this case and the emerging economy – India. Following that, we have created a poster discussing the company’s introduction, SWOT analysis, reasons to enter India, target segmentation, social and economic factors, Porter’s five forces, and cultural dimensions.
Apart from that, since students are required to give a recorded presentation on the created poster, so we have included the video script also along with this assignment.
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Poster Making Assignment
Text Content of the Poster:
Introduction:
Chick-fil-A is a fast-food chain restaurant serving the United States of America since 1964. Chick-fil-A has 2,671 locations spread in 48 states in the USA. It also has two stores located in Canada. Its signature dish is a chicken sandwich. However, their most popular item on the menu is Waffle fries.
SWOT Analysis –
A. Strengths:
- High-quality fast food
- Award-winning services
- Growth in revenue
- Offer red-meat alternatives
B. Weakness:
- Negligible global presence
- Closed on Sundays
- Less number of stores
- Strong religious beliefs
C. Opportunities:
- Global expansion
- Increasing number of stores
- Adding variety to the menu
- Adding healthy options
D. Threats:
- Competitors have a global presence
- Rise in no. of vegan people
- Rise in no. of vegetarian people
Why enter India?
- Second largest populated country in the world – 1.36 billions
- Seventh largest country in the world
- Fast food market in India – 27.57 billion US dollars
- Quick-service restaurants are expected to attain cumulative annual growth of 23% by 2025 (Source: Statista)
Major Competitors:
- Burger King
- Mc Donalds
- KFC
Discussing Social and Economic Factors:
- Social factors: Customisation of menu items to meet the needs of Indian people may be required. Beef is not consumed in India therefore must be avoided.
- Economical factors: India’s growing economy and the influx to metro cities present a great opportunity. 80% of people from the age group 10-24 visit fast-food restaurants (in metro cities)
To summarize, Various analytical methods were used to examine the market conditions of the host country: India, and the findings were illustrated using charts, tables, pictorial representations, etc. To conclude we can easily say that India provides an excellent platform of international market for Chick-fil-A to expand into.
Video Script for Presentation:
The following script can be used while recording the presentation for the created poster –
Hi, my name is ……….. and the company that I have chosen is Chick-fil-A. Chick-fil-A is a fast-food chain restaurant headquartered in the United States and has been serving since 1964. They have a wide variety of menu options but they are best known for their chicken sandwiches and waffle fries. They are applauded for their best customer service and have earned the top spot in the Consumer Choice Award – US in 2017.
I have decided to launch the company in India due to numerous factors. Firstly, India has the second largest population in the world and has a 27.57 billion US-dollar food market. Secondly, 80% of the population aged 10-24 visit fast-food restaurants in metro cities of India which makes it an ideal option for a food chain company to enter.
After analyzing and studying the market, I concluded that the marketing strategy that I will be choosing to enter India for Chick-fil-A will be a Joint Venture.
A joint venture involves two or more businesses pooling their resources and expertise to achieve a particular goal. In a strategic alliance, firms work together cooperatively, but no new organization is formed.
In both cases, the firm and its local partner share decision-making authority, control of the operation, and any profits that the relationship creates. Both the risks and rewards of the enterprise are shared. A joint venture helps in business expansion especially when moving into a new market overseas. A joint venture could give access to more resources, greater capacity, increased technical expertise, and access to established markets and distribution channels.
Other strategies like franchising, licensing, exporting, and contract manufacturing were also considered. But I believe that the best strategy to adopt will be Joint Venture. I believe this will be the best course of action for Chick-fil-A as they have gone global before in two countries: South Africa and the United Kingdom and have failed.
A joint venture will provide them with the knowledge and the resources required for the success of the business. Adapting the menu to Indian consumer requirements will be a necessity due to lifestyle differences between the people of the United States and India.
For instance, Indian people do not consume beef therefore it must be removed from the menu. Also, 40% of the population is vegetarian in India, so a menu option for them should also be decided and launched.
It will also be imperative for the company to launch a cheaper option on the menu as there is an income gap between middle-class families from the US and those from India. All these factors prove that a menu localization will be required which will require cultural study of Indian people. However, the other party in the Joint Venture will be a local partner so they will have local consumer knowledge and expertise thereby decreasing the cost.
It’s true that competitors of Chick-fil-A like McDonald’s and Burger King already have a head start in the nation but the entry of Burger King only three years ago proves that the market can still be captured.
However, a plan for the fast expansion of outlets of the company in the Indian market will be required to conquer the market share as widely as possible.
A strategic plan with defined short-term and long-term goals should be used to map the success journey of the company.
References
- Chick-fil-A, 2021. Who we are. [Online]
Available at: https://www.chick-fil-a.com/about/who-we-are
[Accessed Monday April 2021]. - McDonald’s, 2021. Financial information. [Online]
Available at: https://corporate.mcdonalds.com/corpmcd/investors/financial-information.html
[Accessed Monday April 2021]. - Restaurant Brands International, 2021. Annual reports. [Online]
Available at: https://www.rbi.com/English/investors/annual-reports/default.aspx
[Accessed Monday April 2021]. - Statista, 2021. Brand value of the 10 most valuable quick service restaurant brands worldwide in 2020.
[Online] - Available at: https://www.statista.com/statistics/273057/value-of-the-most-valuable-fast-food-brands-
worldwide/ [Accessed Monday, April 2021]. - World Bank, 2021. World Population. [Online]
Available at: https://data.worldbank.org/indicator/SP.POP.TOTL
[Accessed Monday April 2021]. - YumBrands, 2021. Annual report for KFC. [Online]
Available at: https://investors.yum.com/financial-information/annual-reports/
[Accessed Monday April 2021].
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