TigerAir Singapore Analysis - Free Essay Example

Sample details Pages: 8 Words: 2430 Downloads: 2 Date added: 2017/06/26 Category Transport Essay Type Case study Level High school Did you like this example? Table of Contents Analysis of the Campaign text Brand Analysis SWOT Analysis Actual Positioning Customer Analysis Competitive Landscape Analysis Market Trends Pestle Analysis a)Political Factor: b)Social Factor: c)Economic Factor: d)Legal Factor: e)Environment Factor: f)Technological factor: Marketing Communication Plan Tigerair Market competition Tigerair Marketing Strategy and the Competitive Positioning Tigerair Positioning Tigerair Marketing Goals and Objectives Tigerair Marketing Mix Tows Matrix WO Strategies ST strategies SO strategies WT Strategies Marketing Budget considerations Campaign metrics Recommendations Conclusion Bibliography . Don’t waste time! Our writers will create an original "TigerAir Singapore Analysis" essay for you Create order Analysis of the Campaign text Brand Analysis Tigerair is a Singapore based company that offers different traveling options at affordable prices. They claim consumer satisfaction excellence and they started their operations in 2004. The travelling organization offers flights up to 37 different destinations. In Asia they touch base with 12 countries (Holding, 2015). Within the previous decade Tigerair has won awards for customer service and lowest rates. Of course the lowest rates awards didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t mean that quality at any point in time was effected. Among the local airlines in Singapore, Tigerair maintains the leading position in providing quality services to the general public. SWOT Analysis Tigerair holds a dominant position in the local industry due to its low cost rates. That means targeting the low cost segment they have attracted a huge customer base (Hauser Shugan, 2008). It has a huge network operation in all of Asia. The rate of growth for Tigerair is exceptionally high (Holding, 2015). However according to certain academics (Bisignani, 2006) when big business expand at an exponential rate they are the worst hit by financial crises. Hence Tigerair can be in a vulnerable condition if there is an economic crises. Right now Tigerair is offering flights for 12 destinations in Asia, however Asia is composed of 48 states. Hence if it thinks to expand its operations Tigerair should start thinking of starting their operation in other zones in Asia. This could be a big opportunity for them as residing in Asia, they know the industry and operational predicaments. Further as compared to outside Asia expansion it could effectively reduce the cost. Further some a cademics (Flores-Fillol Moner-Colonques, 2007) account that for regional airlines liaisons with other airlines can attract more customer and save costs. Hence Tigerair should be looking into that particular paradigm. As far as Threats are concerned, for airlines rising prices of Oils is always a concern according to many studies (Flores-Fillol Moner-Colonques, 2007) (Fu Zhang, 2010). Further right now Tigerair has a cost effective advantage but if another airline comes with the same cost structure or lower prices with same quality that could pose a stiff competition for the airline. Actual Positioning It should be noted that Tigerair poses itself to be an extremely cost effective travel. This means it tends to target two segments of the market. First are the business personals who usually seek many trips on low cost and second are the domestic travellers who look for affordable travel (Holding, 2015). Because Tigerair has marketed itself offering various destination in Asia and outbound it looks to be an attractive bet for all the consumers who are looking for a good travel experience at affordable rates. Customer Analysis As already discussed above due to the low cost paradigm Tigerair has attracted a significant loyal consumer base domestic and business personals for air travel on inexpensive rates. There is no specific age customer but the portfolio for Tigerair include people of various background and ages who seek affordable travel (Holding, 2015). According to academics ( Lederman, 2007) this is a big success for any organization to attract a diverse audience of various background. But critics (Bisignani, 2006) (Hauser Shugan, 2008) also maintain that attracting a consumer base based on cheaper rates can be easily deflected if another airline comes in the market with low rates and better quality schemes. In conclusion the relationship between cost and customer base is mentioned below; Competitive Landscape Analysis As the above figure explains Tigerair main competition is shaped due to the three factors above. Firstly the local traditional airline which have been existing for a significant time have been affected due to the low cost paradigm of Tigerair. Hence the traditional airlines which offer full service poses the immediate competition for them (Holding, 2015). The second ones are the international lines working in Asia through different routes and prices (Holding, 2015). Tigerair maintains it edge with the same low price model with good services. And lastly the international entry by Tigerair with result in international price wars. The immediate case was witnessed when Tigerair decided to launch its operations in Australia. Australian airline faced the pressure of the cliental as Tigerair offered low rates (Liang, 2005). Further as discussed in the swot analysis competition is enhanced and effected due to the following factors as well; Oil Prices Political Stability Weather Issues Barriers to entry in local and international sphere Economic conditions Tax rates by the government Inflation in keeping the price hikes Market Trends Pestle Analysis Political Factor: According to the studies (Liang, 2005) the political environment of Singapore is quite stable and that eventually helps any growing industry in the market. Academics (Liang, 2005) hold that political stability and no government disturbance keep the prices and the trust of the factor in check. Hence politically Tigerair has a good advantage Social Factor: Singapore has a very sound and intellectually mature public with above 92 % literacy rate (Mundi, 2015). That means that they have an informed public. There are both advantages and a downside for any industry for this factor. The positive point is the public is aware to make comparison so if they see Tigerair with a good service and low rates they will opt for it. However it should be noted they will always be on a look out for a better product in the market. Economic Factor: Over the past decade Singapore economy is in a good position (Liang, 2005). A good and sound economy actually let the market players to play with the prices. If the inflation rate of any country is stable cost effective prices can be easily be maintained (Zook Brunn, 2006). However in economic crises this cost effectiveness might harm and is difficult to be maintained over a longer period of time. Legal Factor: Cost effectiveness of any company results in low wages for the employees. That is because low cost prices of the product means the manufacturing cost for that particular service or product is considerably lower (WEN YEH, 2010). Tigerair seemingly has a challenge here, good wages is a good indicator for employee retention and hence Tigerair need to concentrate on this part. Environment Factor: According to the information on the sources (Holding, 2015) given out by Tigerair it seems that it is doing adequate steps to control its carbon print on the earth. However there is always a room for improvement. Technological factor: Scholastics understanding (WEN YEH, 2010) hold that continuous improvement is paramount for any company survival. Whether the business is currently doing well, it is of prime importance they look for other venues and services to keep the customer retention. Marketing Communication Plan Tigerair à ¢Ã¢â€š ¬Ã¢â‚¬Å" Market competition It can be seen that nowadays the competition in the airline industry is quite high and companies are striving to make their position in the market. From the airlines industry there are two main competitors of Tigerair. One is Air Asia and the others Jetstar. Due to this the marketing strategies that the competitors are adopting has a direct impact and influence on the Tigerairà ¢Ã¢â€š ¬Ã¢â€ž ¢s business. Usually it can be noticed that the airline industry are cost driven which results in less brand loyalty from the customer perspective. It is suggested that the Tigerair should adopt better pricing strategy in the competitive market so that they could maintain a stable market share in the industry. Tigerair à ¢Ã¢â€š ¬Ã¢â‚¬Å" Marketing Strategy and the Competitive Positioning Tigerair Segmentation Tigerair Targeting Tigerair à ¢Ã¢â€š ¬Ã¢â‚¬Å" Positioning Travelers Promo Lovers Shopaholic Value added seeker Value added seekers Low Price à ¢Ã¢â€š ¬Ã¢â‚¬Å" High Value Tigerair Positioning Tigerair is situated in such an area where so many other airlines are there such as the Air Asia, Air Indus and etc. The scope of the airline industry has immensely grown with the expanding new entrants of other Airline companies. However it has also increased the much need for the travel and tourism among the people who can afford it. Tigerair is looking realizing that their region is quite competitive. The below mentioned Porterà ¢Ã¢â€š ¬Ã¢â€ž ¢s model explains the five forces of competition, which Tigerair are currently facing is facing. Tigerair à ¢Ã¢â€š ¬Ã¢â‚¬Å" Marketing Goals and Objectives Creating Tigerair exclusive experience for its customers. Building Tigerair as a robust brand Opening of the new routes along with low costs Increasing the level of sales and revenues Increasing companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s market share Communication of the new Tigerair Corporate values and ethics Tigerair à ¢Ã¢â€š ¬Ã¢â‚¬Å" Marketing Mix The four Cs strategies and tactic plans that will be adopted by the Tigerair are as follows: Consumer Opening the new route for the consumers The new route will provide full services Cost Setting affordable pricing strategy: The carrier airways inclusive The average low cost Full service provision Convenience Online Smart Phone application induction Start of the Travel Agency office Online marketing and info availability Communication Provision of the 360 degree communication with the customers including the media gathering, advertisements such as TVC and you tube , Facebook Tows Matrix WO Strategies The company can expand and try to develop in such areas such as Laos and regions of Cambodia which will gain them the low cost for the employees. The profits that would be earned from here can be further invested in improving the experience of customer services. Tigerair can work closely along with the booking agents and also inauguration of improving the flights time such as introducing them during the prime time and with improved mechanism of booking system. Tigerair will the get to compete better with the competitors. It is noticeable that the ASEAN agreement has now opened the new opportunities for flying to more destinations and this will be adopted by Tigerair which will widen the horizons for more consumers from other regions as well. ST strategies Usually people are not aware of Tigerair. The company has to revitalize the marketing strategies which will be able to make them more into their low cost flights and the travelling to other destinations. Tigerair needs to reach out its networking capabilities with the hotels, car travelling companies and the companies such as the holiday homes which can become as a complementary services to their customers. SO strategies Tigerair has a strategic location situated in Singapore which can give them more good advances to open the new networks and affiliate themselves with the other big companies. The Tigerair has the low cost maintenance services and its operations that would ensure them to save their safety policies and the concern of their valuable customers. Tigerair should reach out to such customers in Asia who are willing to have less costly travelling experiences. ASEAN agreement will enable them to have unlimited travelers in their service. WT Strategies The company has no alternative if they wonà ¢Ã¢â€š ¬Ã¢â€ž ¢t be able to adopt better marketing strategies other than to shut their business or any other airline could acquire them. Marketing Budget considerations Campaign metrics The budget that is allocated for the Tigerair will consist of SGD 1,500,000 for one campaign in the set target markets that are identified as the main core for the Tigerair airlines. Our campaigns will be including the pulsing media flight during the holiday season commencing from December 2015 which will also maintain the online presence, outdoor and the new mobile campaign as well. The budget allocation is as follows: Television 750,000 SGD Print 350,000 SGD Outdoor 200,000 SGD Online 150,000 SGD Mobile 50,000 SGD Recommendations Tigerair should have their main focus on improving their customer experience through the better customer relations and services such as avoiding the delay and cancellation of the flights. Usually in the Airline industry the biggest issue is among the unreliable flights and this cause the companies at stake. Tigerair should look into better opportunities such as expansion in other countries most probably the developing countries. They need to give guarantee to their employers through job satisfaction which will raise their morale and provide better policy guidelines to the customers regarding the security and safety policy. Conclusion According to the analysis and the marketing communication plan that we have done it is visibly noticeable that the success of Tigerair can create a new hype in the airline industry. Moreover, the efficient marketing strategies and the operational performance is going to be the key root of Tiger air accomplishment. The company is itself quite successful and they have gained a good brand recognition worldwide in the past few years. The strategies and objectives that are proposed for Tigerair in this assignment can make them improve their structure and gain the impetus which they have engendered in the past five years among their set target market. Considering from the point of view of market research, focusing on the mix audit we can clearly predict that we are now able to identify and provide recommendation for the better performance and improved mechanism along with the developed effective marketing strategies. Bibliography Lederman, M. (2007). Do Enhancements to Loyalty Programs Affect Demand? The Impact of International Frequent Flyer Partnerships on Domestic Airline Demand. The RAND Journal of Economics, 1134-1158. Retrieved from https://www.jstor.org/stable/25046356 Bisignani, G. (2006). Airlines. Foreign Policy, 22-24, 26, 28. Retrieved from https://www.jstor.org/stable/25461987 Flores-Fillol , R., Moner-Colonques, R. (2007). Strategic Formation of Airline Alliances. Journal of Transport Economics and Policy, 427-449. Retrieved from https://www.jstor.org/stable/20054029 Fu , X., Zhang, A. (2010). Effects of Airport Concession Revenue Sharing on Airline Competition and Social Welfare. Journal of Transport Economics and Policy, 119-138. Retrieved from https://www.jstor.org/stable/40600019 Hauser , J. R., Shugan, S. M. (2008). Defensive Marketing Strategies. Marketing Science, 85-87. Retrieved from https://www.jstor.org/stable/40057247 Holding, T. A. (2015). Tigerair. Retrieved fro m Tigerair: Over 80 destinations, 140,000 hotels, 30,000 rental car locations: https://www.tigerair.com/sg/en/ Liang, M. (2005). Singapores Trade Policies: Priorities and Options. ASEAN Economic Bulletin, 49-59. Retrieved from https://www.jstor.org/stable/25773843 Mundi, I. (2015). Index Mundi. Retrieved from Index Mundi: https://www.indexmundi.com/g/r.aspx?v=39 WEN , C.-H., YEH, W.-Y. (2010). Positioning of International Air Passenger Carriers Using Multidimensional Scaling and Correspondence Analysis. Transportation Journal, 7-23. Retrieved from https://www.jstor.org/stable/40904818 Zook , M. A., Brunn, S. D. (2006). From Podes to Antipodes: Positionalities and Global Airline Geographies. Annals of the Association of American Geographers, 471-490. Retrieved from https://www.jstor.org/stable/4124428

Essay on Social Construction of Race - 1342 Words

Social Construction Race Race has been one of the most outstanding situations in the United States all the way from the 1500s up until now. The concept of race has been socially constructed in a way that is broad and difficult to understand. Social construction can be defined as the set of rules are determined by society’s urges and trends. The rules created by society play a huge role in racialization, as the U.S. creates laws to separate the English or whites from the nonwhites. Europeans, Indigenous People, and Africans were all racialized and victimized due to various reasons. Both the Europeans and Indigenous People were treated differently than African American slaves since they had slightly more freedom and rights, but in many†¦show more content†¦Their powers were no match against the Europeans because they had muskets and other firearms while the Native Americans and Africans only had spears to fight with. 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Differences Between Rock and Pop Music Essay Example For Students

Differences Between Rock and Pop Music Essay According to the Merriam Webster website, music is the science or art of ordering tones or sounds in succession, in combination, and in temporal relationships to produce a composition having unity and continuity. Music has many genres to choose from and to fit to all musical tastes. Music, being part of everyone, lives independently of culture, religion or nationality, and is a universal language. Music has the power to take you to the past and make you remember past situations or someone special. Two of the biggest musical categories in today’s world are rock and pop. Those styles of music use the same instrumentation, the number of musicians on stage are similar, and so is the energy that they use to perform to their fans. However, they are different in many aspects and tendencies. How the lyrics are made, how long the music of the two styles of the bands last and how the bands appear and start their success are some differences between these two genres of music. Rock and pop have similarities that make the music confused between each others styles. Rock and pop bands use the same amount of instrumentation on stage, which is usually two guitars, one set of drums, and one bass guitar. Another similarity is the number of musicians on stage which includes: vocals, guitar players, bass player, drum player, and back vocals. The last similarity is the way both style bands perform. Both styles perform with a strong stage presence, being very active on stage. Some examples of bands that are pop bands and are confused as rock bands are: ‘N Sync, Backstreet Boys, and Justin Bieber. While there are similarities between the two genres, there are also many differences. First major difference between rock and pop genre bands are the way they make their music. Most of the Rock bands write their songs about anything they care about with no censure. Rock songs talk about love, emotions, sex, drugs, life, death, or suicide and the songs have a deep meaning for the musician who wrote and for the public, who relate the music with their own lives. A good rock song last forever, and it has been played on radio stations for years. On the other hand, pop songs usually are made for record companies or someone writes silly songs and then the bands or the record companies buy it to make a profit with a song that goes to the top of the billboards for two or three months and then disappears in the same way that it appeared. Pop songs talk about a crush or something with no importance. Pop songs are seasonal, while rock songs last forever. The second major difference is how long the bands of the rock and pop genres last and make their success. Rock bands make songs to last generations. Led Zeppelin, Jimi Hendrix, Janis Joplin, Beatles, Nirvana, and The Doors are some of the bands whose songs are played every day. Rock bands never die and contaminate every generation on their path. Pop bands are made to produce profit and for temporary success. A pop band lasts three to four years and then disappears without notice. Pop artists are made in studios and with an image set up to attract a target public. A pop artist sometimes doesnt even sing well, but has a pretty face and dances well, attracting fans and money. It is hard to think of a pop band that makes great success and stays on the top for a long period of time. .u0e3a694fcb679212c2ad32c9e7fdcb9e , .u0e3a694fcb679212c2ad32c9e7fdcb9e .postImageUrl , .u0e3a694fcb679212c2ad32c9e7fdcb9e .centered-text-area { min-height: 80px; position: relative; } .u0e3a694fcb679212c2ad32c9e7fdcb9e , .u0e3a694fcb679212c2ad32c9e7fdcb9e:hover , .u0e3a694fcb679212c2ad32c9e7fdcb9e:visited , .u0e3a694fcb679212c2ad32c9e7fdcb9e:active { border:0!important; } .u0e3a694fcb679212c2ad32c9e7fdcb9e .clearfix:after { content: ""; display: table; clear: both; } .u0e3a694fcb679212c2ad32c9e7fdcb9e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u0e3a694fcb679212c2ad32c9e7fdcb9e:active , .u0e3a694fcb679212c2ad32c9e7fdcb9e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u0e3a694fcb679212c2ad32c9e7fdcb9e .centered-text-area { width: 100%; position: relative ; } .u0e3a694fcb679212c2ad32c9e7fdcb9e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u0e3a694fcb679212c2ad32c9e7fdcb9e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u0e3a694fcb679212c2ad32c9e7fdcb9e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u0e3a694fcb679212c2ad32c9e7fdcb9e:hover .ctaButton { background-color: #34495E!important; } .u0e3a694fcb679212c2ad32c9e7fdcb9e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u0e3a694fcb679212c2ad32c9e7fdcb9e .u0e3a694fcb679212c2ad32c9e7fdcb9e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u0e3a694fcb679212c2ad32c9e7fdcb9e:after { content: ""; display: block; clear: both; } READ: Music Essay SummaryFor a pop band, five years is considered a really long career. The last but not least difference is how the rock and pop bands are created and start their success. Rock bands usually have a tough path to their success, starting in a garage and playing in the local bars and in small band competitions. They gain fans along on the way, making them famous in a geographic area then going national. On the other hand, pop bands start their success with paid spaces on the radio time and targeting young fans. A pop band starts their success in the top of the billboards, decreases in success and then disappears. The record companies choose what fashion is at the time and launch a product set to be extinct soon. In conclusion, rock and pop have more differences than similarities. The number of people on stage, how they perform on stage, the kind of instruments played and the speed of music is very similar in the two styles, but how the lyrics are made, how long the music of the two styles of the bands last and how the bands appear and start their success are the differences. It is good to hear good music independently of genre, but it is always good to sit and hear an old and good rock and roll song.

Wendys Market Research

Background Study A business enterprise is highly affected by its environment that includes economical, marketing, social, and locality factors. All these factors are collectively regarded as the business environment. Business environment is considered as all the external factors that affect the performance of an enterprise in one way or the other.Advertising We will write a custom report sample on Wendy’s Market Research specifically for you for only $16.05 $11/page Learn More The economical factors include the economical status of the region where the business is to be located. Other economical factors that are imperative to factor in while considering an appropriate niche to start up a business enterprise are the capital market as well as the social-economical factors. It is important for a businessman to visualize the economic factors that will affect the business and anticipate appropriate market situations. This will help the business to rece ive maximum returns with minimal costs. The social environmental factors are also very significant for the success of any business. The social aspects of a region determine the values of the society that in turn affect the business enterprise greatly. The most vibrant sociological considerations include cultural orientations, customs as well as mobility of labor. Sociological factors affects the work culture, team work as well as the goods and service to be produced that are highly affected by peoples attitudes customs and cultural values fashions. The social cultural factors determine the code of conduct the business should adapt, the trade unions to follow. Failure to observe the right code of ethics may lead to poor performance of a business enterprise. In some cases, unethical practices such as paying unfair wages or black market may result to intervention measures being taken against such a business enterprise by some government agencies. The marketing environment is also a ver y important factor to consider in order succeed in any business venture. The company should adapt appropriate marketing strategies in order to establish a strong brand in the targeted region. Good position of a firm’s products and services is imperative for the success of the business enterprise. This can be ensured by appropriate differentiation of products and hiring highly skilled workforce that is regularly equipped with appropriate knowledge and skills (Lopez, 2006).Similarly, the shareholders should invest in strategic locations in order to realize returns from their investments.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Densely populated areas and areas that are situated along busy highways are appropriate locations for restaurants investments (Chen, 2003). Therefore, the Wendy’s restaurants should identify such a niche to extend its operations to. Problem Statem ent The Wendy’s Restaurant is facing a lot of competition from its rival brands such as McDonald and Barger King Restaurants among others. The restaurant is therefore in a process of opening new restaurants as an expansion strategy to help it enjoy the benefit of economies of volume. This will help it cut down its costs of operations in order to help it reduce the prices of its menus which are slightly higher than the prices that are charged by McDonald and Burger King Restaurants. Literature Review Effective marketing process is very important for the success of any company. The branding process helps people to form a positive perception towards a company’s products and services. The marketing process helps a business enterprise to close up the gap between what a firm promises and what it delivers (Treacy Wiersema, 1997). A strong brand is the brand that is successful in delivering what it promises its customers. One important factor that a firm should consider while branding is establishing a competitive edge over its rival brands. The only way that a company can be able to establish a competitive advantage over its competing brands is by strategically positioning its brands (Sharp Dawes, 2001). A sure method of positioning the products of a company is by the use of differentiation process. The differentiation process helps an organization to differentiate its products or services from the others in order for them to be in a position to stand out more effectively. The company can differentiate its products/services by the use of Unique Selling Proposition (Piana, 2003). This strategy involves the use of advertisement to relay a product’s/service differentiation. The differentiation process is known to cause monopolistic competition. This gives such a company a competitive advantage since monopolistic competition requires the substitute products from the rival brands to be perfect substitutes.Advertising We will write a custom repo rt sample on Wendy’s Market Research specifically for you for only $16.05 $11/page Learn More A company can differentiate its products through unique packaging or an advertizing theme. Through this process, the company does not necessarily require to alter its product. Thus, the differentiation process occurs as a result of the buyer’s perception of a difference. In some other cases the differentiation process is functional. Through this process differentiation results to a change in the quality that is often accompanied by a rise in the price, a change in functional features or design (Wilsons, 2007). The differentiation helps a brand to enhance its sales by overcoming direct competition. This is because as a product/service becomes more unique, categorization decreases and thus draws fewer comparisons with substitute products from competing brands. An effective product differentiation helps a brand not to compete with substitute products base d on the prices, but on other factors such as distribution and promotional strategies (Porter, 1998). The differentiation process is a very effective strategy in the restaurant industry which is very competitive. The use of effective differentiation is the reason that has helped restaurants such as McDonald, Burger King and Wendy’s flourish well despite the thriving stiff competition (Treacy Wiersema, 1997). The success of any business is highly determined by its location. The successes of restaurants are highly affected by the location of the restaurants. The location of a restaurant determines many aspects of the hotel. For instance, the location of the restaurant will determine the type of menu to be offered. Customers from various cultural backgrounds differ in their dieting habits. The Asian, white and blacks differ greatly in type of foods that they like. While the Asian prefer a lot of spices in their foods, the white and especially the Americans prefers fasts foods, while the African likes heavy foods.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Therefore, identifying strategic locations will determine the type of menu to offer to your customers depending on their cultural orientations. The location of the restaurant will also influence the number of customers who will visit the restaurant. The restaurant should be located in those areas that are densely populated in order to attract many customers. Alternatively, the restaurant should be located in an area where many people pass so that to increase those people that visits it (Matere, 2003). A restaurant should be located in an area that has enough space for parking. Adequate parking space will facilitate the number of customers that will visit the hotel. If the hotel does not have sufficient parking space, it should ensure that where it is located there is a nearby public parking. Since most restaurants are located along highways and free ways. The restaurants owners should make sure they locate their restaurants in places where they are easily accessible. Locating hotels in areas where they are concealed hinders the number of people visiting such hotels. New restaurants should also be located in areas where they are highly visible. That is the reason why property prices in down towns and developed places are higher than other areas (Kotler Kevin, 2006). The pricing of the Menu is another important factor to put into consideration when designing the menu. This helps to determine the amount of money to charge in order to realize a profit. The costs of food and food proportions are two vital methods that help in the pricing process (Tabby, 1999). Food cost is the menu price of a certain meal in relation to the cost of the food used to make that dish. The amount of money one uses to pay for the food determines how much you will sell the food. It is advisable for a new restaurant to make sure that it charges its customers a price that relates with the prices charged by other local restaurants (Lin, 2003). Mostly the prices of menus should be approximat ely 30-35% above the cost of foods. This pricing is reasonable since one has to consider other factors involved such as paying the employees and paying for other bills such as electricity and water bills. Portion control is another factor that determines the success of any restaurant. Those restaurants that are successful are experts in handling food portions (Mealey, 2004). Mergers, acquisition and franchise are appropriate strategies that restaurants should adapt to extend their operations in order to maximize their returns (International Franchise Association, 2006). This study will entailed both primary and secondary research methods. The secondary research involved a review of articles, Journals and books that discuss about running and managements of restaurants. On the other hand, the primary research will be a survey. The survey will include sampling a number of people that will help in realization of the research objective. The number of those people that will be sampled wil l be 50. The people that will be interviewed will consist of those people that resided or work close to the region in the United State where the Wendy’s restaurant s aspires to extend its operations. The researcher will use random sampling in order not to be biased. This will help to increase reliability of the research outcomes. The researcher will first conduct a pilot study prior to the actual research in order to help him/her to eliminate any errors that may be present in the questioners anticipated to be used. Objectives The main objective of the research is to establish the viability of the Wendy’s expansion in the desired niche. Specific Objectives To find out whether majority of those people that live nearby take their foods from home or restaurants. To find out whether the people around are comfortable with the quality of meals and services they receive from the local restaurants. To find out the type of meal those people prefer. To find out how much money th ese people spend on their meals daily Research Questions Do you prefer taking your meals from home or in restaurants? Are you happy with the amount of money you pay for your meals? What type of meal do you take for breakfast, lunch and supper? How much money do you spend on your meals? The researchers will use both closed ended and open ended questions as its instrument for collecting the required data. The closed ended questions will help the researcher to limit the respondents to specific questions. On the other hand, the open ended questions will help the researcher to get new insight in the research which he/she could have ignored (Cooper Schindler, 2003). Ethical Considerations The respondents will be assured that the information that they will be given will only be used for the purpose of this research only. In addition, they will be guaranteed about the confidentiality of the information they will give. Anticipated Results The researcher is likely to find that approximate ly 40% of those people that he will interview prefer taking their meals from restaurants. The researcher is also likely to learn that more than 50% of those people that will interview are not happy with the quality of meals and service they receive from the local hotels. The large number of dissatisfaction is likely to result because the place where Wendy’s intends to extend to is not served by well established restaurants such as Wendy’s, McDonald, or Burger King that have high quality meals and services (McDonald’s Holdings,2006). Because the area is mostly habited by middle class group, the researcher is likely to identify that the respondents spends approximately $ 300 per day for their meal. List of References Chen, Y. D., 2003, Food and Beverage Management Theory and Practice, Taipei: Yang-Zhi Culture. Cooper, D. R. Schindler, P. S., 2003, Business Research Methods, NY: McGraw-Hill.  International Franchise Association. 2006. Web. Kotler, P. Kevin, L., 2006, Marketing Management (12 Ed.), New Jersey: Prentice Hall. Lin, Z. M., 2003, Quality stems from customer’s needs, Journal of quality, 39(9), 51-52. Lopez, J., 2006, The Importance of Workforce Trainings, New York: Prentice Hall Matere, J., 2003, Strategic Location for Restaurants, London: Cambridge Press. McDonald’s Holdings, 2006, Management Strategy. Web. Mealey, L., 2004, How to Price Your Restaurant Menu, London: Cambridge University Press. Piana, V., 2003, Product Differentiation, New York: Prentice Hall. Porter, M. E., 1998, Competitive advantage, NY: The Free Press. Sharp, B., Dawes, J., 2001. What is Differentiation and How Does it Work? Journal of  Marketing Management, 17, 739-59. Tabby, M., 1999, Restaurants, New York: Prentice Hall. Treacy, M. Wiersema, F., 1997, The Discipline of Market Leaders: Choose Your  Customers, Narrow Your Focus, Dominate Your Market, NY: Perseus Books Group. Wilsons, P., 2007, Strategic Management, New York: Oxford Uni versity Press. This report on Wendy’s Market Research was written and submitted by user Angelica Pennington to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.