Business Analysis of Outback Steakhouse Essay

Through extensive market investigation and by talking with the struggling restaurant manager, I have come up with top trends and with the reasons why restaurants fail.

Chipotle Mexican Grill originated in Denver, Colorado in 1993. In 1998, McDonald’s became the majority shareholder; however, in 2006, McDonald’s divested its controlling interest. Chipotle became a public company listed on the New York Stock Exchange in 2006. It currently has 1,083 locations across the United States and Canada. In May 2010, Chipotle expanded into Europe, opening their first restaurant in the United Kingdom. (Form 10-K Chipotle Mexican Grill, Inc., 2011)

Determining the impact of other restaurants is imperative for Chris and Erica in their start-up business. Initially, Chris and Erica should conduct reconnaissance of their start-up target location and determine the style of restaurants in the area, this will reveal if there are any immediate competitors to the type of restaurant they wish to open. If direct competitors are present, then Chris and Erica should do research on the restaurant’s customer satisfaction, menu, prices, and publicity. This study will determine if Chris and Erica could develop a niche such as superior customer satisfaction or low-pricing.

Single location full service restaurants generated over $175 billion dollars in annual revenues as of June 2015 according to IBISWorld reports. And as the economy continues to improve, consumer spending will also increase in this industry segment, which is expected to grow over the next 5 years by 3.2%. The major key to restaurant successes of course is the ability to meet the consumer’s preference in dining

Quite possibly one of the most notable issues facing Outback Steakhouse is the differing regulations and restrictions that may hinder the corporation’s ability to enter certain markets. Other countries can impose more restrictions on new restaurants than in the United States, and it may also be difficult to readily find these regulations. (Grant: 759) Before entering a specific country, research must be done in order to fully understand how this may affect the corporation. It should be noted, however, that Outback Steakhouse realizes this and believes that franchising to local entrepreneurs will eliminate the need to understand each market individually. (Grant: 757)

Desert dreams is in the business of casual dining, catering mainly to individuals or groups who are in transit to other events or activities. Besides formulating a marketing-oriented and customer focused mission statement, Desert Dreams should establish an objective to achieve profitability over the next two to five years. Over the space of five to ten years Cake should aim to expand into new stores in Sydney or Melbourne. During the infancy of the business the marketing plan, Cake should attempt to match internal strengths to external opportunities. In addition, they try to convert internal weaknesses into strengths and external threats into opportunities. The development of Cake’s marketing objectives is based on environmental analysis, SWOT analysis, the firm’s overall corporate objectives, and the organization’s resources.

Introduction which includes a short description of the case study restaurants and a brief explanation of research

The development of a new restaurant is recommended with the aim of meeting multiple aims. When looking at the way a company can increase business Ansoff has identified 4 potential strategies which may be used, which are based on two variables; the aim of developing new product or attracting new customers. The four strategies are penetration, product expansion, market expansion, or diversification (Hooley et al. 2007). The development of a restaurant will allow the firm to pursue several goals simultaneously increasing revenues and the level of guest satisfaction with the amenities.

Arriving in San Diego, CA the prospective customer was hoping to organize a casual dinner for a group of twelve students. Without much knowledge of the city the customer hoped to find a convenient, affordable option which would contribute positively to the experience of all parties joining. Not looking for a tourist-attraction or a chain restaurant the options were limited to a local favorite within downtown San Diego. Ideally, this restaurant would feature a fairly broad menu, large portions, and provide a unique dining experience. This selection criteria led the prospective customer to choose Sixth Avenue Bistro—a casual and contemporary family-style restaurant.

Quintessentially, this report aims to dissect the strengths of the restaurant, and to identify its weaknesses in order to offer possible solutions.

An assessment of the current marketing opportunities available to Papaya Thai restaurant reveals several important factors affecting the firm in long term marketing strategy. The firm competes in the locally owned restaurant in Melbourne city. Our current market is divided into two primary segments: residents and visitors. A company analysis shows the restaurant major strengths and weaknesses as word of mouth advertising and inability to capitalize on the visitor segment, respectively.

The sandwich market is gaining popularity in American culture. Several competitors are now present in the market place competing against Subway®. Many of the fast food providers are currently trying to capitalize on this growing market. The food sales market is growing and Subway® has marketed their sandwiches as hearty and healthy. This is one of the many marketing strategies that

First issue: Marketing department will be facing several challenges in terms of promotions and building relationships with customers as marketing system will have to first see the outcomes and statistics of other restaurants’ trends and then decide to which target segment promote. Second issue: Provided that the Eastern Foods sets up strategies such as discounts, free drinks, and so on, it will be adversely affecting the income level, and will lead to the failure of strategic plan, thus demolishing profits gained. Second issue: External and internal designs of outlets can be unattractive to the customers. As well as ingredients and types of meals may not be liked very much. For example, clocks on the walls, color, posters, and such attractive items might not be suitable to preferences of the customers.

The type of service of provider that I have chosen for this assignment is the restaurant sector. This sector can include restaurants from fast service to fine dining. In recent years, this has been the largest industry group, employing 775,200 people in 2006 (“Discover Tourism”, 2016). This sector is not only instrumental in meeting basic human needs, instead it has become a significant component in the tourism industry as well. Tourists nowadays are seeking to try different foods. They want to gain the authentic experience. Thus, the restaurant industry has developed different sectors in order to meet tourist’s needs. For instance, you have an outdoor catering sector that serves food and beverages at a low to medium price range. [This specific sector usually provides] limited levels of service and often high customer throughout (Pandey, 2014). Compared to a hotel, where the prices have been modified and customers will receive better service. Tourists will gain a better experience from there. However, the restaurant sector has been impacted through environmental, social and economic impacts. This will not affect the industry as a whole, but to consumers. The following paragraphs will be issuing these points along with sustainability with the operations and the supply chain.

As the industry increasingly offers many options to the customer to meet their different desires, most of the restaurants remain essential to American lifestyles. Some things they are looking for is speedy drive-through at limited service restaurants, elegant ambience and cuisine provided at fine-dining establishments, the