The Food Industry: Overview In Food Service Industry

The restaurant industry can be a fickle friend. Business trends directly with the economy and is linked with a dizzying amount of other factors, enough to make any manager go crazy. Yet at the same time the industry is lucrative and therefore enticing. The industry has been a contributing factor in the slow recovery from economic recession and is showing growth in sales (Stensson, 2011). Specifically, the fast food industry if projected to grow at a slightly higher rate of 3.3% over that of the full service industry at 3.1% (Stensson, 2011). With expanding sales comes higher demand and restaurant jobs are estimated to rise by 1.3 million positions by 2021 (Stensson, 2011).

This paper will introduce a product and service which operates in the U.S. with the intent to expand within foreign markets eventually. The service that I chose is a current service in the food service industry that does exist but would benefit from enhancing it; there are market trends for the new service that would definitely satisfy potential customers’ needs and wants once the idea is brought to their attention. The goal is to bring the feel of the city’s fine dining and lounging experience to areas outside the city without having to travel far or spend more. The service is an

The restaurant industry has been booming since the 90’s to now. With over 600,000 restaurants in the United States alone, and about 14.4 million employees

More and more people like to eat outside in a restaurant. Restaurant services can help people establish the satisfaction of ingredients, provide considerate services, and save customers’ time. The restaurant industry occupies an important place in the service industry, and because the demand of customers is increasing, the demand on the level of service is becoming greater. The stages of the industry’s life cycle are typically separated into three stages: beginning, maturity, and recession. The restaurant industry is clearly in the maturity stage. For now, people usually can find what they want by using some Apps, and find the restaurants near them. It is convenient for people to eat in a restaurant. The trend of restaurant will be continued in next five years. The charts(4) below showed the restaurant industry sales have been increasing since 1970, and the restaurant sales was $709.2 billion dollars, the sales of restaurant industry included commercial restaurant services, eating places, bars and taverns, managed services, lodging places and retail, vending, recreation, mobile. Commercial restaurant services occupied the most sales from restaurant industry. The major emerging trend in restaurant industry is the way we manage restaurant, more and more technological products were used in restaurant, we use tablet to order food. Restaurant were using advanced technique to have a better dining experience, like the

According to National Restaurant Association the restaurant industry covers one million fast food service locations in the U.S. and employs 14 million people. Globally, fast food generates a revenue of over $570 billion and it is expected to exceed $780 billion in 2016. Furthermore, the industry expects an annual growth of 2.5 percent for the next several years. The United States generated a revenue of $200 billion in 2015. In the restaurant market share 48.5 percent are covered by full service restaurants, which means that the QRS segment has sales of 51.5 percent and is supposed to grow

The moderate growth rate of the restaurant industry results in many competitive rivalries and the nature of business allows customers to switch freely. Therefore, among porter’s five forces, the pressures from substitute products tend to drive the most competition in the restaurant industry today (Restaurant 2015). In addition, restaurants face the threat of customer’s ability to choose other leisure activities such as going to the movies, bowling, or other social outings (Restaurant 2015). To effectively compete under such conditions, restaurants are heavily investing in brand building to create customer loyalty. Another trending strategy used to increase customer returns is servicing beyond food and beverages; restaurants are heavily investing in providing individualized, memorable and entertaining

The restaurant industry is highly competitive with respect to price, value and promotions, service, locations, and food quality. Consumers are highly focused on value and

The industry is made up of full service restaurants, which provide take out and entertainment services along with food services (Southward, 2013). The food service industry is extremely competitive, in which BWW is constantly increasing and improving its brand image, recognition and loyalty. The actual major industry concerns are rising food and labor costs. Rising costs have forced restaurant chains to increase prices for meals.

The fast food, or quick service restaurant industry (QSR), represents approximately 200,000 restaurants and $155 billion in sales in the U.S. alone, they are one of the largest segments of the food industry (Hoovers, 2011). This segment of the restaurant industry is “highly competitive and fragmented… number, size and strength of competitors vary by region, market and even restaurant. All of these restaurants compete based on a number of factors, including taste, quality, speed of service, price and value, name recognition, restaurant location, customer service and the ambience and condition of each restaurant” (Chipotle, 2010).

Too many people pick up food products off of the shelves and put it into their shopping cart without knowing what exactly it is or what the product has been through. After watching an absolutely disturbing documentary called "Food Inc." I started to feel strongly about the problems of the Food Industry. The problem is that our food is no longer being produced in an all American farm, but in dirty abusive factories. Not only is the food unhealthy for us after all of the processing, but the workers and animals are being abused. I know that I single handily cannot change all of the problems with the twisted food industry, but I know that I can do my part by making others aware so that they can make sure that they can make fully informed decisions about what they are putting into their carts at the grocery store and eventually into their bodies.

The restaurant industry is said to be one of the oldest industries in the economy. As the economy and urbanization grow, so too does the industry of restaurants; it’s for this reason that the industry has been growing at a rapid pace. Even with the restaurant industry ebbing and flowing, there are still new entities entering the fray consistently. Some restaurants may close, but it will not be too long before a new restaurant opens in the place of the old one. Historically, the restaurant industry has contributed nearly 4 percent to the gross domestic product (GDP) of the United States (U.S.) economy. The most recent findings show that the restaurant industry employs more than 12.7 million people (which is approximately equal to 9 percent of the

The research will examine aspect of fine dining industry in Singapore. I will be assessing the competitive strategy of western fine dining restaurant in term of retaining existence customer and attracting new one. In order to identify retaining successful customer I will undertake survey in term of customer satisfaction and willing to pay. I will also interview restaurant’s managers who handle strategy and execution in order to develop attracting new customer. Last I will conclude with a good strategy would help a restaurant

Throughout the years, there has been an incredible amount of speculation as to what ingredients are being put into the food we consume. The same food manufactured by major food corporations that can only be approved by the FDA. There are many techniques that these food corporations can use in order to gain consumer loyalty, but the main focus is the way their advertising works. Along with these advertisements, comes a target market as well. The food industry is constantly in speculation because there are always new foods that corporations want approved to sell. Some of these businesses are part of the fast food industry and others are international food companies that sell their products around the world. As adults and parents, we need to

Restaurants are found throughout the United States as well as other countries. Restaurants are found in many different places such as street corners in mobile businesses, buffets found in mid-sized towns and cities, as well as upscale restaurants that are most always found in larger and more populated areas. All of these places serve one purpose in common; to aide to the desired food cravings of countless people. A person might say that there are no noticeable differences of each type of restaurant, but hidden beneath their common goals are various differences that set each apart.

The paper presents an analysis of the different factors influencing the restaurant industry and how these factors increase or decrease the demand for such services. The hypothesis that will be examined is that the performance of restaurants is mostly based on the type of food chosen by customers when they decide to go out for dinner, lunch, breakfast, or simply for a snack. What type of food refers mainly the nationality or concept of the food, (traditional American, Italian, Indian, Latin, or from any other type of culture). This factor is important because when customers go out to for dinner; they decide what to eat before deciding where to eat. That is why this factor is considerably important according to the hypothesis.