A Research Proposal on Study of Market Potential of Fast Food Restaurants in India
INTRODUCTION
This proposal is aimed at conducting a research on the market potential for Fast Food Restaurants Services in India. It will be mainly focusing towards understanding the importance of various factors affecting the choice and the need of fast food outlets by Indian young consumers. Also, it aims to study the consumption pattern towards fast foods particularly with respect to the frequency of visits and choice of fast food outlets. It aims to study the impact of hygiene and nutritional value of fast foods on consumer purchase decisions. These services may provide an opportunity to develop a niche market. This proposal aims to study the feasibility and practicality of implementing this idea.
LITERATURE REVIEW
According to the research paper by Anita Goyal & N.P Singh, “Consumer perception about fast food in India: an exploratory study”, average young Indian consumer always bears a passion to visit fast food outlets for fun and change although home food is his first choice. India is a diversified country with different regions and states following different food practices rendering food diversity as an implicit characteristic of the nation. As per worldwatch.org, India’s fast food industry is growing enormously at a CAGR of 40%. The entry of multinational fast food outlets like McDonalds, Subway, etc has revolutionized the industry in its own way. According to the survey carried out in the study among the population of age group 20-27 years, it was found that the emergence of traits of independence in their eating habits, nutritional education, divergence of food preferences at home and at fast food outlets and ambience of...
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...tegies. I would check out the technical requirements i.e. equipment, business feasibility (land lease, vendors and suppliers, etc)
EXPECTED CONTRIBUTION
This research would help to understand the importance of having a healthy and nutritional food habits. This research paper will help to get an estimate importance of various factors affecting the choice of fast food outlets by Indian young consumers.
It will provide entrepreneurs with a competitive edge that will prove invaluable in helping them seek the opportunity in this unexplored area of business. Through this research project one can study the opportunities and potential for Fast Food Restaurant Services in India. Since not too much of research is carried on in this area in India, there is a huge scope for this market and it could be useful for any budding entrepreneur who is interested in this industry.
Fast food has infiltrated every nook and cranny of American society. Everywhere you turn you can see a fast food restaurant. An industry that modestly began with very few hot dog and hamburger vendors now has become a multi-international industry selling its products to paying customers. Fast food can be found anywhere imaginable. Fast food is now served at restaurants and drive-through, at stadiums, airports, schools all over the nation. Surprisingly fast food can even be found at hospital cafeterias. In the past, people in the United States used to eat healthier and prepared food with their families. Today, many young people prefer to eat fast food such as high fat hamburgers, French-fries, fried chicken, or pizza in fast
Fast food restaurants in America can be located on almost every street corner in almost every city. The enticing aroma of a burger and fries can be found at several locations in nearly every city, town, or suburb. According to Alaina Mcconnel, the 5 most popular fast food restaurants of 2011 are McDonalds, Subway, Starbucks, Wendy’s and Burger King (Mcconnell, A., & Bhasin, K., 2012). Fast food joints have a ruthless history of being fattening, greasy, and unhealthy with films like Super-Size me and Food Inc. giving the...
Fast food restaurants, like McDonald’s, Burger King, and Wendy’s, are all popular places out of many that a lot of people like to eat from. Whether
Fast food restaurants such as Burger King and McDonald’s, create advertisements where it urges people to consume their product. For example Mcdonald’s created a product where you can get two items such as a mcdouble and a medium fries for three dollars. According to “The battle against fast food begins at home”, by Daniel Weintraub, it shows how companies are intriguing their customers. “ The center blames the problem on the increasing consumption of fast food and soft drinks, larger portion sizes in restaurants and the amount of available on school campuses”(1).For the most part, the Center for Public Health believes that fast food companies are the problem for health
From a study completed by Chicago-based Research International USA completed a study called “Fast Food Nation 2008. The panel consisted of 1,000 respondents of ages 16-65 who provided their inputs with an online survey which was conducted between March 13 through 2008. Which was based on results on fast food restaurants like McDonald’s, Burger King, and Wendy’s are gaining popularity even through the economic hardship and recession. Marketing strategy has become more of influence on kids and young American’s. As population grows and the demand increases of fast food restaurants are expanding their stores to capturing more consumers. Fast food chains are also willing to change their menus to continue to gain and retain repeating customers. With each generation that passes, brings fast food chains into more homes and continues impacting lives.
The New York Times bestseller Fast Food Nation: The Dark Side of the All-American Meal is one of the most riveting books to come out about fast food restaurants to date (Schlosser, 2004). Fast food consumption has become a way of life for many in the United States as well as many other countries in the world. The author Eric Schlosser an investigative reporter whose impeccable researching and bold interviewing captures the true essence of the immense impact that fast food restaurants are having in America (2004). Beginning with McDonald’s, the first fast food restaurant, which opened on April 15, 1955 in Des Plaines, Illinois to current trends of making fast food a global realization McDonald’s has paved the way for many fast food restaurants following the same basic ideal that is tasty foods served fast at a minimal cost (2011). Schlosser explains how fast food restaurants have gained substantial market share of the consumers; he also shows that by marketing to children and offering less unhealthful fare, that are purchased from mega-companies which are often camouflaged with added ingredients and cooked unhealthful ways, that these companies are indeed causing irreparable harm to our country (2004).
The American life has been transformed by the fast food industry not just changing the American diet but also the culture, workplace, economy, and the landscape. “Today about half of the money used to buy food is spent at restaurants-mainly fast food restaurants.” (Schlosser) This could be due to the fact that about two-thirds of working women are mothers. The impact of fast food on the American culture is transparent when just looking at McDonald’s. McDonald’s has become the world’s most famous brand; the golden arches are more known than the Christian cross. “A survey of American schoolchildren found that 96 percent could identify Ronald McDonald.” (Schlosser) McDonald’s is responsible for 90 percent of new jobs in The United States. The landscape has changed due to the fast food ...
Pothukuchi, Kameshwari. "Book Review of Fast Food Nation: The Dark Side of the All-American Meal(Eric Schlosser, New York: Houghton Mifflin, 2001." U-M Personal World Wide Web Server. Web. 19 May 2011. .
Over the last three decades, fast food has infiltrated every nook and cranny of American society and has become nothing less than a revolutionary force in American life. Fast food has gained a great popularity among different age groups in different parts of the globe, becoming a favorite delicacy of both adults and children.
Fast food outlets actually have been existed from millennia in China, India and ancient Europe. In the past, many people cannot afford to have a kitchen and this becomes the main reason they buy their food in fast food outlets (Reverse Your Age, 2013). The perception of fast food started to change in twentieth century. The first company that change the culture and perception of fast food was McDonald’s, followed by their future competitors such as KFC, Burger King, Wendy’s, Taco Bell, Pizza Hut and Subway. As they get a good appreciation from the customers followed by the impact of the globalisation, almost all of the fast food companies have been expanded their restaurant chain in many nations (Wojtek, 2013). Nowadays, with our busy life schedule and the increasing trend where women entering workforce promote an opportunity for the fast food industry to grow bigger. We can see the significant growth from the fast food industry as the industry itself has been generated over $160 billion in 2012 compared to their revenue in 1970 which only around $6 billion (Franchise Help, n.d.). With this significant growth, it does not mean that every company in this industry are successful. Some company has to closed some of their stores due to the lack of environmental research and preparation in entering a new country which commonly lead to the poor selling rate. The deeper explanation and points that is mention below will be also represent as the industry current state.
Throughout the world fast food has made a tremendous impact on the marketing world and the people that are consuming the food. Marketing has been directed towards the children and adolescents throughout the world and has benefited but also harmed the fast food companies that are using these marketing techniques. The use of toys and catchy tunes attract these young people to want to buy the food from that company. But the examination of the healthiness of the food has also harmed the profit margin for these companies. Overall, the fast food industry has taken significant damage in the way that they currently run things from the way they market to the health concerns that is caused by the food.
Consumption habits are very important factors for international marketing strategy for fast food chains. Culture is also involved in here again, though these days’ customers are always looking forward to something new in the service and products. Then again, taste of customers is changing as they are transforming towards dining in if the image of fast food is not healthy. Health conscious customer are quick to abandon fast food, they find the fast food very harmful for lungs, heart and blood conditions.
Another point of reason I would like to argue about is fast-food restaurants are everywhere and it is difficult for one to find any alternatives. I would also like to ask of the consumers to look at it from another view. There are many choices available to consumers each day some can do harm, while othe...
Lack of time to cook a proper meal and decide to order fast food? This situation always happened in everyone daily life. This shows that choosing fast food as a meal is already a trend in this modern era. Fast food and home cooked meal can be differentiated by time, cost and its nutrition value.
Chakravarty, C. (2007). Burger King Likely to Adopt Franchise Model in India. The Economic Times, retrieved from: http://articles.economictimes.indiatimes.com/2007-01- 05/news/28458380_1_burger-king-restaurants-key-franchisees