Business Success on Example of Taco Bell Case Study

Case study, Pages 5 (1097 words)

Views

What are the current internal strengths and weaknesses of Taco Bell as a company in Canada?Some internal strengths of Taco Bell in Canada are its quick meal options for the younger demographic, and its popular name with a high level of customer loyalty. Canada has a very diverse population. These diverse populations like different types of food, giving Taco Bell an advantage over most other fast food restaurants, due to the fact that they don’t offer the traditional idea of a hamburger and fries.

Don't use plagiarized sources. Get your custom essay on

“ Business Success on Example of Taco Bell Case Study ”

Get custom paper

NEW! smart matching with writer

Taco Bell’s core competencies are unmatched in the fast food industry. They are the largest company to offer this type of food, representing the idea that they are not in much direct competition to other companies.

Some weaknesses of Taco Bell are it being a high calorie and fatty food, which is unappealing to some, making it hard to compete with other healthy food options like Subway. Fast food chains are slowly being avoided because there has recently been an increase in the want for healthier meal alternatives.

In Canada, it does not have such a dominant impact on society that large companies like McDonald’s and Tim Hortons do. Into further detail;(Strengths)· Appeal as a quick meal option to younger demographics· Taco Bell as a company is a hugely popular brand name with high brand/customer loyalty (Weaknesses)· Taco Bell’s idea of high fat/calorie food are not good fast food options for those health-conscious consumers· Taco Bell as a whole company does not hold a large, dominant market share in the fast food chain industry 2) What are the current external opportunities and threats in Canada’s fast food services that could impact Taco Bell’s plan to grow in Canada?

Some opportunities for Taco Bell in Canada are its new products that could take an interest in someone looking for something else other than the traditional burger and fries. A strategic opportunity for the company would be to go with a healthier menu. Places like McDonalds make money off unhealthy food like hamburgers. Whereas Taco Bell has the opportunity to make healthier tacos, seeing that generally speaking Tacos aren't as unhealthy as burgers are. Some threats that pose against Taco Bell could be something like a home delivery app that makes it easier for consumers to receive their food. In the fast food industry, there is always a threat of people wanting to be healthier especially in today's world. People don't want to be so “unhealthy” anymore, they would rather cook at home and start eating better. (Opportunities)

New innovative products could spark interests of new customers and ultimately lead to expanding market share and entering new target markets
Reaching new audiences/trends in the marketplace and discovering niche market areas which the company can branch its products out to, in order to meet the needs of current and new consumers
The possibility of new flavours and recipes specially focused and designed to tailor and meet the needs of a health concious audience can be introduced
Taco Bell being a second mover is a great opportunity as Taco Bell can learn from McDonald’s and other fast food companies’ drawbacks and improve upon them (Threats)
New businesses and home-delivery apps, making it more accessible to consumers to order a competitors products right to their doorstep
New studies/research brought upon the awareness among the public about the harmful health impacts of fast food consumption
Increase in wages, meaning an impact on labour quality and effectiveness 3) What strategic marketing alternatives do you see for Taco Bell Canada in support of their plans to add the Waffle Taco and other breakfast offerings in their fast food services in Canada?

One major marketing alternative we see in the breakfast menu is that they are entering a new market where so many companies have already been. Places like McDonalds and Tim Hortons have been in the breakfast scene for quite some time now, and Taco Bell now entering it may give it some more customers. Taco Bell not having a breakfast menu for so long, is surprising that they are only introducing one now. It would be such a good idea to have a waffle taco with breakfast foods stuffed inside of it. Strategic marketing alternatives we also see would be conducting research to have the company educate itself on the market and where the products would have the most benefit and positive response. Another great opportunity is to see them running promotions and buzz to let their products and plans for the future known, in order to create a lasting image in the consumers mind and become aware of the possibilities it may bring, both short-term and long-term. The product development strategy is a good alternative in order to create and generate new needs of existing customers and the diversification strategy supports Taco Bell’s plan to add the Waffle Taco.

Also, market development strategy can be used to create more buzz before the waffle taco is launched. 4) What is your marketing strategy recommendation to Taco Bell Canada for them to introduce the Waffle Taco and breakfast fast food to Canada? Remember, three Census Metropolitan Areas need to be targeted, and one of the three market segments chosen to apply the marketing strategy must be a business market segment.

Our marketing strategy recommendation to Taco Bell Canada for them to introduce the Waffle Taco and breakfast fast food to Canada is that brand awareness and product placement in the consumer’s mind, is key. One’s value proposition of the product itself should be the main focus of their marketing efforts. The company should focus their skills and tools on branding, promotion, research and studies to see what the consumer market is interested in, what their needs are, and how the company expects to meet these needs by carrying out a tactical business model. They should segment their business model based on specific categories, whether it be needs they want to meet, a variety of markets they want to enter, or expanding their product line, etc. In our opinion, Taco Bell should focus its efforts on Metropolitan Areas such as, Toronto, Montreal and Vancouver, as they are one of the most populated areas of young markets which they are trying to reach. Additionally, our marketing strategy recommendation would be for Taco Bell to conduct a SWOT analysis before the launch of the Waffle Taco to give Taco Bell a critical view and evaluation of the company and its mission to launch its new addition as a thriving, star business.