Taco Bell Marketing

08 F alone Introduction Hong Kong is know as being a very(prenominal) multinational and diversified city non hardly in Asia save to a fault in the world. not single is Hong Kong a paradise from a financial perspective, but it is as hygienic as a gr tucker agricultural in terms of the standard of living. As Hong Kong has a very diversified shade and a mix of various ethnicities, on that point isnt a lack of victuals options and dissolvents suggest that 1 to 4 Hong Kong respondents pick to dine out and prefer to go through up to HKD$1500 a month.Which looking at the results prep atomic number 18s the ideal opportunity in generateing move a relatively impertinently neighboring(a) regimen concept, which provides a different culinary art from the current trends in a firm viands format into the Hong Kong marketplace. Environmental psychoanalysis SWOT Analysis Strengths Weaknesses 1. Established a huge check off aw areness and dedication. grand amounts of consu mer satisfaction. 1. Local consumer tastes need to be change towards Mexi squeeze out cuisine. 2. High Quality outputs, at relatively reasonable worths. 2. Property prices are relatively expensive, high operating costs. 3.Quite new concept could pull in attention and buzz. 3. Not a very health in extended transportation could be unappealing to identify users. 4. Sole Mexican cuisine deestablish nutriment concept chain. Opportunities Threats 1. Introduce mansion/Office delivery function. 1. Existing puff up launch close fare chains, e. g. McDonalds, KFC, Subway, coffee shop de Coral etc. 2. Experiment with topical anesthetic needs/taste, incorporate local flavors and delicacies. 2. may not be appreciated by the Hong Kong public. 3. Possibility to develop drive through, to create ease of handiness for consumers. 3. Existing Mexican restaurants that ease up established blur loyalty amongst Hong Kong customers. 4. Establish chains where bookmans and working mass can easily access. E. g. office buildings, university campuses, obtain malls etc. plague Analysis governmental The political condition in Hong Kong is relatively stable, w becausecece introducing an American based ready diet chain, wont maintain any impacts or create any problems from a political aspect. As Hong Kong isnt cladding any political distress or disturbances domestically or internationally. Economical at that place are several economical impacts that volition incur as taco price shape starts its operations in Hong Kong. First of all, get-go a new fast sustenance chain would create domestic employment, as jobs volition be opened up towards the local citizens. Furthermore everyone earning provide accordingly pay taxes that will result in an step-up in government gross as the company gradually starts to increase its operations in spite of appearance Hong Kong premises. amicable The kindly part also goes on to piddle away a huge role w hen establishing a new fast food chain, as this acts upon the consumers values and beliefs.Many people are know to be relatively health conscious, hence at that placefore an aspect that taco toll will wealthy person to deliberate is the fictional character and the healthiness of the food that will be served to the local consumers. If the quality of food is compromised it could then impact the take aim for the food and could kibosh the company growth. Furthermore besides the food element, wetback Bell will also have to consider its Corporate Social Responsibility factors of treating their employees in an adequate way and rewarding them with what they deserve, and also the environment factor and to maintain the clean environment Hong Kong stresses, nd to reduce waste and place fleshy emphasis on packaging their food with recyclable and biodegradable materials. Technological technology is shown to be ontogenesis and rapidly ever-changing all close to the world. Hong Kong is known to be a very technology based country, where majority of the business is done all over technology, hence therefore there are well-nigh technological factors to which Taco Bell could adapt to in value to puzzle positive impacts to the chain. One regularity would be to adapt company websites on which the menu and otherwise promotional function can be placed, in assign to increase convenience for users.in any event websites we are shortly living in the Smartphone eras, hence developing apps based on the website and possibly exploiting the opportunities of providing services on-the-go and the ability to deliver from the apps can decidedly produce positive growth to the firm. thusly seeking these technological methods can by all odds increase the company value. Hong Kong Fast food for thought Industry Trends Marketing Analysis As Taco Bell lays the Hong Kong fast food industry, it will have to create immediate effects, due to the existing competitors that have alread y established themselves within the market.Franchises such as McDonalds and KFC, have established themselves as the pioneers of call for western food to Hong Kong in the slow 70s and 80s. Which has triggered further foreign investors such as Pizza Hut Burger King to work a few. Alongside local entrepreneurs who have obtained a significant market contend with Cafe de Coral, Maxims and Fairwood. McDonalds and KFC are shown to have the top shares in the HK fast food industry at 22% and 14% respectively. Whereas the local franchises combined have only managed 10%.The rest is accumulated with the other foreign franchise chains, which each have market shares below the 10% mark. Which will not significantly impact Taco Bell. Besides fast food, bringing in a Tex-Mex cuisine wont be something new to the Hong Kong public, as there are a few Mexican restaurants that provide similar products and caters to the public needs. and Taco Bell tends to hold war-ridden advantage with the fact th at it has an established brand name and the ability to serve quick, candid quality and reasonable food items which correlates with what the restaurants serve. mastermind MarketThe main target market of this fast food chain is mainly aimed at the working universe, students and teenagers of Hong Kong. As the fact that it is a fast food chain, its main intention is to provide quick serviced food at reasonable prices, hence incorporating working and student compute people, rather then the high-end consumers of Hong Kong. Besides the financial element, the population who are cunning on a different cuisine of food, targeting the diversified population of Hong Kong, and not only to one specific ethnicity but the citizens who are on a certain budget is the main target market.Marketing Mix Variables legal injury It will also have to consider the budget levels of the chosen target market. As setting an optimal level would then result in a demand, whereas if the price is placed withal hi gh, it could hinder demand and if price the price is placed too low, although it may create a larger-than-life demand, merely operating costs business leader not be covered and could result in financial losses. Product The product will be the standardized menu that has been set all around the world. This will include the food items which taco bell is known to be most notable for.Although it will serve the standard types of food items, in order to suit the Hong Kong market it could also then explore the tastes and trends of the local population and their eating habits, which could be co-ordinated within the restaurant menu. Place The staring(a) locations to reach out to their consumers, would be to open their branches within our minutes away from local university campuses, this would result in easy accessibility for the students who would be able to pick up and go, or have the option to eat within the restaurant premises.Besides catering to the students, to addle it convenient for the working population of Hong Kong, the scoop up locations would be opening stalls and restaurants within an office building premise or shopping malls which are placed around the commercial areas of Hong Kong, in order to create ease of accessibility to the working population of Hong Kong. PromotionMethods such as advertise is a great opportunity, as Taco Bell is already a well established fast food chain, hence posting advertisements on local newspapers and magazines can immediately create effects as the reports show that 1 in 7 people in Hong Kong read some sort of newspaper or magazines on a daily basis. This method is the most appropriate in terms of creating brand awareness within Hong Kong. Furthermore, through the aid of promotional websites such as www. groupon. com. hk and www. beecrazy. com. hk that incite upcoming products, services and offers can in spades help reach out to their potentiality consumers and create demand.These methods can definitely bring posit ive results, once the promotion degree starts. Conclusion To conclude by implementing the mend marketing mix methods and taking deem of the various factors which was looked through in the PEST analysis, it can be drawn to ending that although Taco Bell will enter the market with relatively high competition, however due to the already well established brand name and the fact that its products tend to differ quite significantly in comparison to the leading competitors, it can hand from being diverse.