Key Success Factors of fast food
Key Success Factors of fast food
Success in the fast food industry requires mastery of different key competitive factors. Fast food entrepreneurs must emphasize on creating strong brand, improving operation efficiency, increasing speed and convenience. By paying attention and investing more on these elements of the business they can strengthen their competitive position in the market and make profit
Branding
KFC, Republic of Korea’s Lotteria, Jollibee are examples of extremely successful fast food branding. Their signs, logos and slogans are recognizable around the world. Customers of fast food want to know exactly what they are going to get before they actually have experience. Businesses try to provide consistent, easily recognizable and simple branding to reassure customers that nothing has changed. Simple slogans that lodge themselves in the brain are repeated endlessly on television and radio commercials, ensuring that when customers see the fast food outlet, they are primed to respond because the brand is already "inside" of them. Ranking brand names of fast food is showed on the Appendix A
However, that is also the reason that makes domestic fast food business in Vietnam hard to compete and strongly develop .Kinh Do, Hy Lam Mon, Duc Phat, VietMac and the ABC that have not recognized brand names have many obstacle in domestic market. Pomchai thuratum – the manager of KFC in Vietnam said “I don't think that international fast food is better than Vietnamese food but I'm sure that customers come with us because of brand. Sitting in Vietnam and eating American food. We are better because of our marketing campaign going along with brand”. (taichinh.vnexpress.net)
Location
Choosing location is very important. It should be in places that are easy to be identified like high-traffic areas to be convenient for buyers to come. Fast food isn't considered a destination; customers won't travel into the countryside for a bag of fries in the same way that they
Success in the fast food industry requires mastery of different key competitive factors. Fast food entrepreneurs must emphasize on creating strong brand, improving operation efficiency, increasing speed and convenience. By paying attention and investing more on these elements of the business they can strengthen their competitive position in the market and make profit
Branding
KFC, Republic of Korea’s Lotteria, Jollibee are examples of extremely successful fast food branding. Their signs, logos and slogans are recognizable around the world. Customers of fast food want to know exactly what they are going to get before they actually have experience. Businesses try to provide consistent, easily recognizable and simple branding to reassure customers that nothing has changed. Simple slogans that lodge themselves in the brain are repeated endlessly on television and radio commercials, ensuring that when customers see the fast food outlet, they are primed to respond because the brand is already "inside" of them. Ranking brand names of fast food is showed on the Appendix A
However, that is also the reason that makes domestic fast food business in Vietnam hard to compete and strongly develop .Kinh Do, Hy Lam Mon, Duc Phat, VietMac and the ABC that have not recognized brand names have many obstacle in domestic market. Pomchai thuratum – the manager of KFC in Vietnam said “I don't think that international fast food is better than Vietnamese food but I'm sure that customers come with us because of brand. Sitting in Vietnam and eating American food. We are better because of our marketing campaign going along with brand”. (taichinh.vnexpress.net)
Location
Choosing location is very important. It should be in places that are easy to be identified like high-traffic areas to be convenient for buyers to come. Fast food isn't considered a destination; customers won't travel into the countryside for a bag of fries in the same way that they