Marketing research, Taco Bell Essay Example

Marketing research, Taco Bell Paper Many factors, both within the organization and in the market, have the potential to influence the success or failure of a companys internationalization. In order to put itself in the best position to succeed (or to prevent failure), a company must conduct an in-depth analysis of these factors and use that analysis to make an educated decision as to whether or not they should expand their business abroad. Strengths and weaknesses of the organization must be evaluated. Also, there are opportunities and threats that exist outside the control of the organization in the market that must be assessed. By determining the strengths, weaknesses, opportunities, and threats through analyzing the company and market research, it will be possible to determine if internationalizing Taco Bell to Great Britain is a financially lucrative and promising decision. Strengths Based on the marketing research, Taco Bell has many strengths that would help it succeed in an internationalization effort in Great Britain. Its primary strength is its corporate ownership. Taco Bell is owned by YUM! Brands, an international organization consisting of six subsidiaries*. Those subsidiaries include Taco Bell, Pizza Hut, KFC, AW All American Food Restaurants, and Long John Silvers. YUM! has successfully franchised on an international level, and has done particularly well with Pizza Hut and KFC, featuring 4,348 and 7,088 international units respectively*. Taco Bell itself has internationalized as well, with 209 international units. Another positive aspect in terms of these YUM! Brands figures, is that there are 578 KFCs and 522 Pizza Huts in the UK already, but there are currently no Taco Bells*. These figures imply YUM! Brands would be able to successfully internationalize another of their leading subsidiaries in a market in which they have already been successful. We will write a custom essay sample on Marketing research, Taco Bell specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing research, Taco Bell specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing research, Taco Bell specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In terms of their franchising strength, YUM! Brands provides the resources Taco Bell would need to establish a lucrative franchise in Great Britain. There are ten Franchise Restaurant Support Centers throughout the world to aid in YUM! Brands franchising. The center for Europe and Great Britain is actually located in England, providing an accessible support center for a newly established Taco Bell franchise*. Within the company there is the personnel support to aid in Taco Bells internationalization to Great Britain. While Taco Bell is under the control of its president and chief operating officer, it also has the extended support of the YUM! Brands executive officers. Furthermore there is actually a separate division called YUM! Restaurants International that would provide additional support to Taco Bell*. As an added support resource within the context of the organization, YUM! has their own board of directors. The board consists of twelve members, each possessing their own valuable experience with other large and often international corporations, which is able to provide valuable advice and support regarding Taco Bells new project. Weaknesses Despite the numerous strengths of the Taco Bell organization and YUM! Brands, there are some important potential weaknesses within the organization to consider before internationalizing. YUM! Brands reliance on franchising, Taco Bells reliance on beef as a cheap, staple product, and the image of Taco Bell as an American restaurant are all possible weaknesses that stem from the organization. Over 80% of YUM! Brands restaurants are franchised. YUM! Brands has had great success with this internationalization mode with existing KFCs and Pizza Huts, however, their reliance on franchising may hurt when trying to introduce a new restaurant, such as Taco Bell in Great Britain*. The culture and expectations of Taco Bell are not yet known in the UK, so the new franchise may not coordinate itself with the company image as well as it should. Another serious detriment for Taco Bells expansion into the UK is their reliance on cheap available beef. Due to regulations in the market (covered later), beef is not a cheap and readily available product in the UK. Many Taco Bell products contain beef and their products are known for being very inexpensive. With beef being more expensive, this creates a problem for Taco Bells core menu and prices*. An interesting weakness for Taco Bell may be its overall image. KFC and Pizza Hut serve American food in an American atmosphere both domestically and abroad. Taco Bell is distinct in that it is supposed to be a Mexican restaurant*. Domestically, the atmosphere of Taco Bell is the same as any other American fast food restaurant, but abroad, consumers may prefer a more Mexican, rather than American approach. Taco Bells American image may create difficulties when attempting to persuade customers that it is a Mexican restaurant. Opportunities Many opportunities exist for the internationalization of Taco Bell in the United Kingdom. Aspects of the British culture, economy, and general food market support the introduction of a Mexican fast food chain. British consumers enjoy spicy food, Indian food being one of the most popular foods. They also enjoy variety and novelty in food choices. Mexican food is generally spicy and Taco Bells line of spicy sauces give consumers a choice in how spicy the food tastes as well as providing an alternative to everyday British food*. Also, living in the UK is quite expensive, especially in London, and Taco Bell appeals to the price sensitive nature of most British consumers*. The ethnic food market in the UK is growing rapidly with Mexican food as one of the fastest growing sectors. Consumer food preferences are evolving to fit the increasingly fast paced lifestyles of the British*. Taco Bell has the opportunity to take advantage of consumers needs for rapidly prepared food. Many consumers have expressed an interest in Mexican food, yet there are few Mexican restaurants. Taco Bell can fill the niche and gain a share of the large ethnic and fast food markets. Taco Bell can gain the first mover advantage in internationalizing to the UK, as there are currently no direct competitors*. The UK has favorable psychological distance from the US. Trade, customs, and governmental policies are well understood by the US and it will not be difficult for Taco Bell to market itself effectively in the UK. Many US citizens also travel to the UK and know little about or do not enjoy British food thus creating a demand for American chains*. McDonalds, for example, has done very well in the UK. Threats Potential threats of Taco Bells entrance involve mainly the legal and economic environment of the UK and its fast food industry. The strict food safety regulations which require beef imported from the US to be tested and prohibit the import of hormone treated meat in the UK complicate the procedures for Taco Bell to acquire and sell their food. This increases their cost, as they have to find suitable meat suppliers and ensure their meats are hormone free. As the UK government is open to foreign investments and free trade, the few regulations and stable economy makes the UK market attractive to many foreign firms. One threat Taco Bell should note is the continuously growing fast food industry and the fact that Mexican food is one of the three most popular foods in the ethic food industry*. As there is currently no established Mexican fast food chain in the UK, Taco Bell could take up great risks including the significant pioneering costs of being the first mover in this market*. Taco Bells main competition includes McDonalds, traditional Mexican restaurants, Indian, Asian, as well as local cuisine*. However, their competition does not fall directly into the Mexican fast food category. Final Analysis The S.W.O.T analysis taken from the marketing research indicates that Taco Bell should internationalize and the United Kingdom will provide a lucrative market. YUM! Brands has proved successful in internationalizing its other leading subsidiaries in the UK market. It has a well-defined franchising plan including a support center located in the UK, which can ameliorate the possible weakness involved with introducing a new restaurant through franchising. Taco Bell has the opportunity to fill a niche within the UK fast food market and appeal to British consumer preferences for spicy, rapidly prepared food. Entering the niche market as a first mover may include high pioneering costs, but allows Taco Bell to take advantage of the rapidly growing ethnic food market. As a result of weighing the organizational strengths against the weakness and market opportunities against the possible threats*, the analysis proves that with careful planning, internationalizing Taco Bell to the UK should be a success.

Technology in the 20th Century

Technology in the 20th Century Introduction The constant advancements in technology have continued to affect different aspects of human lives since the 20th century. The impact of technology on man comes about due to the connection between the technological component and the behavior of people towards such advances. As Sander (1999) notes, the 20th century can be said to be the period within which man progressed constantly in terms of technology (Sanders, 1999, p. 1).Advertising We will write a custom research paper sample on Technology in the 20th Century specifically for you for only $16.05 $11/page Learn More Technology advancements in the 20th century Astronomy is one of the major scientific advancements made in the 20th century with the invention of satellites which have been used for communication purposes, monitoring of weather and observation of sites by military. The invention of astronomy has helped humans in understanding the universe and most importantly, measurements of weath er which has in turn allowed for weather forecasting by meteorologists. These different types of manmade orbits were invented by man during the late 90s to serve their specific functions as mentioned above. Examples of satellites developed in the 20th century include; telescopes, space probes and crafts. Another very significant technological advancement in the 20th century is genetic engineering invented as a biological advancement. Genetic engineering was developed to widen the understanding of the development process of living things. The understanding of development of living things was meant to enable humans attain the capacity to control some calamities such as hunger and diseases (Treat, 2006, p. 1). Similarly, genetic engineering has been used to control behavior of living things such as humans, other animals and even plants by modifying genes into desirable characteristics. Since its invention, genetic engineering has enabled the manipulation of organisms through the proces ses of reproduction and heredity. Similarly, biomedical interventions have since been developing which include; cloning, in vitro fertilization and production of sperm banks among others. The invention of computers and the internet is an equally significant advancement of the 20th century. The internet was invented way back in 1969 in the department of defense in the U.S. Its invention was aimed at enhancing effective communication in all researches related to defense (Bellis, 2011, p. 1). In conjunction with the National Science Foundation, the defense department developed the use of the internet not only within U.S.A, but all over the world. However, the use of internet was still unfamiliar to many until the late 90s when millions of people around the globe claimed internet access. Since then, the internet has been used as a network through which information can be shared all over the world, within organizations and between individuals.Advertising Looking for research pape r on other technology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Nuclear energy is also a technological advancement of the 20th century involving the science of physics. The advancements in nuclear energy began way back in 1942 and have continued to develop until 1998. The production of nuclear energy results from reactions which occur as a result of changes in the nucleus of atoms and hence nuclear energy has been presented as the safest source of energy ever since its invention (ThinkQuest. ND, p. 1). This is because its production does not involve environmental risks associated with activities such as burning of fossil fuels. In addition, the invention of nuclear physics has led to the development of nuclear weapons which have been regarded as safety tools. Another important technological invention of the 20th century is in medicine especially the invention of penicillin. Penicillin was initially invented by Alexander Fleming in 19 28 but his discovery was modified in the 1950 with more refined isolation and purification techniques (Mason, 2011, p. 1). This followed the production of various penicillin antibiotics which have been used widely for the treatment of bacterial infections. Some of the most significant uses of penicillin are in the treatment of infections of the urinary tract and the treatment of typhoid and enteric fever. Being the first antibiotic to be discovered, penicillin is the most trusted antibiotic being used worldwide. The technology advancements of the 20th century also saw the invention of synthetic fibers as part of chemical science. The process of producing synthetic fibers was invented in 1902 though the very first developments were made in 1945 in the United States (Jupiter scientific.1999, p. 1). Almost all the materials and products used today originate from synthetics. Similarly, synthetic food additives were also developed in the late 80s including flavorings, sweeteners and colo rants. In addition, the technological advancements of the 20th century on synthetics, led to the development of synthetic chemical agents which have been used for the treatment of bacterial infections. Conclusion Of all the technologies developed in the 20th century, the advancement of computers and internet has had the greatest impact on modern lives. This is because the world is becoming more and more business oriented and the use of computers and the internet in running every day-to-day operation for businesses has been an effective venture.Advertising We will write a custom research paper sample on Technology in the 20th Century specifically for you for only $16.05 $11/page Learn More Computers have made business operations much faster and efficient such as record keeping and financial analysis. Similarly, the use of computers has lessened the number of individual workers and hence reduced expenditure for business in terms of wages. In addition, the int ernet has enabled people and organizations to share information at a faster speed compared to other modes of communicating such as letters and telegrams. Reference List Bellis, M. (2011). 20th century timeline: 1900 – 1999. Retrieved from, http://inventors.about.com/od/timelines/a/twentieth.htm Jupiter scientific. (1999). A century of discoveries in physics. Retrieved from, jupiterscientific.org/sciinfo/apscentennial.html Mason, R. (2011). Technological advances in the 20th century. Retrieved from, articlerich.com/Article/Technological-advances-in-the-20th-century/567549 ThinkQuest. (ND). Nuclear energy. Retrieved from, http://library.thinkquest.org/C005271F/physics.html Treat, A. (2006). Major developments in instructional technology: during the 20th  century. Retrieved from, indiana.edu/~idt/shortpapers/documents/ITduring20.html Sanders, R. (1999). Technology in a paradigm of century. Retrieved from, cosmosclub.org/web/journals/2000/sanders.htmlAdvertising Looking for research paper on other technology? Let's see if we can help you! Get your first paper with 15% OFF Learn More

Government's Policies and Economic Development Essay

Government's Policies and Economic Development - Essay Example Problems faced by developing & transition economies, in which more markets are lacking, the markets that do exist may function less effectively, and information problems are more severe than in industrial countries simply because of the rapid change in the economic environment. While markets failures loom larger over this developing and transition economies, the capacity of the government to correct these market failures is often weaker. So the question arises is what should have been the role of the government in the past two decades. Assessing the appropriate role of the government requires the recognition of both the need for and the limitation of the government action. Successful governments have helped create markets such as bond and stock markets and long- term credit institution. They have established and enforced laws and regulations that have financial markets more stable and increased competition in all sectors. In many cases government has acted as a surrogate entrepreneur, encouraging the firms to enter the certain markets. Especially in export markets governments have provided firms with strong incentives. Some econometric evidences suggest that many of these interventions were quite effective. For instance, an analysis of the mild financial restraint evidenced in most East Asian economies suggest that it did lead to more rapid economic growth, but it can not be inferred that all governments are infallible. Even in the East Asian economies governments have made mistakes. The Japanese government for example initially prevented Honda from entering the automobile industry. Government cannot fix every problem. Government definitely has a plac e, but it should know its place. Economic growth in the last 20 years has shown a very clear decline in progress for some countries as compared with the previous two decades (1960 - 1980). The poorest group of countries went from a per capita GDP growth rate of 1.9 percent annually in 1960-80, to a decline of 0.5 percent per year (1980-2000). For the middle group (which includes mostly poor countries), there was a sharp decline from an annual per capita growth rate of 3.6 percent to just less than 1 percent Progress in education also slowed in the last two decades. The rate of growth of primary, secondary, and tertiary (post-secondary) school enrollment was slower for most groups of countries. There are some exceptions, but these tend to be concentrated among the better performing groups of countries. By almost every measure of education, including literacy rates, the middle and poorer performing groups saw less rapid progress in the period of globalization than in the prior two decades. The rate of growth of public spending on education, as a share of GDP, also slowed across many countries. Over the past few years the persistent economic crisis in Asia has called into question much of the received wisdom that liberalization has enhanced the economic contribution of international capital markets. The Asian crisis is but the most recent example of other similar episodes: the