Analysis of the Fast Food Industry Essay - 4304 Words

1. Current state of Fast Food Industry 1.1 Current State of the industry 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†¦show more content†¦continent rather than worldwide. Figure 1.1 From the table above we can see how these fast food company keep competing each other by expanding their stores in United States from 2011-2012. Although some of the companies closed a significant number of their stores due to some technical or management issue, it does not mean that they will keep losing in this competition. They only need to analyze the environment carefully before they start to open their restaurant in a specific location. Based on the data above, we can predict that the size of this fast food restaurants will keep increasing as there will be a larger demand in the future from the customers. As the fast food industry is growing larger, it will also help to overcome the unemployment problem in a country. Below is the total contribution of U.S. Fast Food Industry in an employment rate which is keep increasing each years (Oches Sam, 2013). Figure 1.2 1.3 Complexity This complexity section will be basically about some common issues that are always faced by Fast Food Industry. The fast food industry will never be apart from the health conscious problem and low-waged labor issues. As there is a lot of competition within this industry, the main focus of this fast food industry is about how they produce a high volume food with lower cost and high speed production. To keep their cost low, many firms of this industryShow MoreRelatedMarketing Analysis : Fast Food Industry Essay1720 Words   |  7 Pagesconsultants has been hired to examine the fast food industry, in order to provide an industry analysis of the business environment, as this will give an insight of the industry’s current situation and recommend to our client of whether it will be a good market to enter. The following outline of the report will include a brief description of the industry, followed by the industry’s analysis that includes the macro environment demonstrated t hrough a PEST analysis, the industry parameters, the competitive environmentRead MoreAnalysis Of Mcdonalds The Fast Food Industry1719 Words   |  7 Pagesand different ways. 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