751. analysis of trends in fast food industry
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A PROJECT ON
Submitted To Mrs. Geetu Sehra Submitted By Reeshik Bahl Enrollment No. 0811471705
Maharaja Agrasen Institute of Management StudiesAffiliated to Guru Gobind Singh Indraprastha University
CERTIFICATEThis is to certify that Reeshik Bahl of Maharaja Agrasen Institute of Management Studies has done a project entitled "Analysis of trend in Fast Food Industry" in the partial fulfillment of Bachelor of Business Administration as required under the rules of Guru Gobind Singh Indraprastha University and has successfully completed it.
ACKNOWLEDGMENTI am thankful to my coordinator Mrs. Geetu Sehra for giving me the opportunity to do project work and for providing me with this learning experience. Its with a sense of gratitude and thankfulness that I submit my research work. My sincere thanks to Maharaja Agrasen Institute of Management Studies for the help rendered during my study in the institute. I am also thankful to all the respondents for their Cooperation. I am extremely obliged and highly thankful to all those who have contributed to completion of this project.
OBJECTIVES METHODOLOGY INTRODUCTION SECONDARY RESEARCH
O MC DONALDS O NIRULASo PIZZA HUTO
CASE STUDY SUBWAY DOMINOS
PRIMARY RESEARCHO O
CONSUMERS VIEWPOINT CORPORATES VIEWPOINT
CONCLUSIONS AND SUGGESTIONS LEARNINGS REFERENCES
OBJECTIVES To analyze the rapidly changing trends in the Indian fast food industry over the past few years. To study consumption patterns of consumers pertaining to different age segments. To create an awareness about effects of fast food on health. To enhance our communication skills by exposing our minds to the world. To use our theoretical base in real life situations.
METHODOLOGYTechniques used in collection of data:
I. Primary dataa. Survey (through questionnaires) b. Corporate interviews i. Dominos ii. Subway iii. Nirulas iv. McDonalds
II. Secondarya. Internet b. Magazines c. Newspapers I prepared questionnaires and got them filled by various consumers of different age groups. Then I analyzed the information and expressed it graphically.
The million dollar question that would disturb waves in many brains and raise eyebrows of people : WHAT IS FAST FOOD?? So the million pound reply would be that its like goodwill guess it is intangible but easy to describe and difficult to define but as said by Vincent Lombardi, Winning isnt everything, but making the effort to win is. So we give it a try: Fast food is the fastest catching food concept among the fastest changing youth. According to some intellectuals, Fast food is the food that is served fast. OR Fast food is the food that you eat to improve your speed OR Fast food is the food to express the fast pace within you
Apart from all this, the dictionary meaning of Fast Food is Prepared food requiring minimum of further preparation before sale or serving. India has been described as a nation of festivals and religions. But if we take a closer look into this, we find that, the crux of these concepts is that India is a country of multivaried cultures. These cultures give rise to different ways of expressing themselves. This has further given birth to various food habits. The varied terrain has also consolidated the view. If one goes from region to region in search of various fooding habits, the figures would be mind-boggling. Yes, we are deviating from the point, but the truth is that this fast food has been in India since time immemorial. In the North with the Himalayas, we have the spicy fried Tikki and Samosas. Going westward to the Gujarati desert of folksongs and camels, we have the delicious low-caloried Dhoklas. Going to Deccan hard land, the wavy violent sea banging the shores brings to mind the mixed vegetable, Bhaji served with Pao, or bread; PaniPuri and the most popular BhelPuri. Going further South to the land of Temples, we have Dosas, Idlis, and Vadas. But as the country was invaded and re-invaded by the Europeans in the 18th and 19th century, it brought foreign culture and hence foreign food into the nation. Indians, who love food eating and cooking were a bit apprehensive in the beginning but soon accepted the Latin and Italian flavours. Today as foreigners have come in via our own TV sets and media, the desire to eat good, better and the best from around the world has gained momentum. To add to this, People have welcomed the change and thus have encouraged leading foreign food brands to come and capture the Indian market.
Today, fast food is not just another type of food, but McDonald burgers and Nirulas pizzas have become a household name. Today, one may say that the target customers are the youth and the collegiate but the markets for these products is widening. It seems that it would take a manifold growth in the coming years as many outlets aim at selling their products to people from 8-88 years. This industry has today become a big investment market as crores are invested but the returns are much more.
Mc DonaldsIn 1954, a fifty-two-year-old milk-shake machine salesman saw a hamburger stand in San Bernardino, California, and envisioned a massive new industry: fast food. In what should have been his golden years, Raymond Kroc, the founder and builder of McDonald's Corporation, proved himself an industrial pioneer no less capable than Henry Ford. He revolutionized the American restaurant industry by imposing discipline on the production of hamburgers, French fries, and milk shakes. By developing a sophisticated operating and delivery system, he insured that the French fries customers bought in Topeka would be the same as the ones purchased in New York City. Such consistency made McDonald's the brand name that defined American fast food. In amassing a $500-million fortune, the king of the hamburger transformed the nation's cultural landscape and forged an industry that is among America's greatest exports. The widely imitated success of McDonald's offers an excellent example for today's managers and executives searching for greater production efficiencies. By putting the humble hamburger on the assembly line, Kroc showed the world how to apply sophisticated process management to the most prosaic endeavors. To succeed the McDonald's way, companies must define the basic premise of the service they offer, break the labor into constituent parts, and then continually reassemble and fine-tune the many steps12
until the system works without a hitch. Today, companies engaged in delivering pizzas, processing insurance claims, or selling toys benefit from the kinds of systems that Ray Kroc pioneered. To the degree that such operations maintain quality control, and cherish customer satisfaction, profits may flow. Adapting To Foreign Climates One key to McDonald's continued growth is international expansion. With operations in more than 65 countries, McDonald's now opens about one-third of its new restaurants outside of the United States. In the early 1990s, Fred Turner predicted that international sales would eventually surpass U.S. sales. While foreign markets can sometimes offer new obstacles for the American company, like hostile government bureaucracies and unreliable local suppliers, McDonald's faces an even greater overall challenge. In each country, from Belgium to Brunei, the company is forced to walk the tightrope of selling its uniquely American product, while simultaneously catering to local tastes. Although McDonald's always insisted on planting its rigid operating system in foreign soil, when it came to other aspects of the restaurants' operation, the company was more flexible. For example, to make the chain's name more easily pronounceable for Japanese consumers, it was changed to Makudonaldo, and its mascot became Donald MacDonald. Hamburger Central also allowed local operators to devise unique promotional campaigns. "Our name may be American, but we're all Irish," ran one promotional campaign for outlets in Dublin. Today, even the menus at McDonald's restaurants in foreign locations clearly reflect differences that do not exist at the company's American outlets. While the stores offer fare like hamburgers, French fries and13
milk shakes, there have been some additions: for example, when McDonald's restaurants opened in Germany in the early 1970s, they started serving beer; in the Philippines they offer McSpaghetti noodles, while Norwegian franchises offer a salmon fillet sandwich, the MacLak.
NirulasEstablished in 1934, Nirula's
today is a diversified group having a chain of Elegant Business Hotels, Waiter Service Restaurants, Family Style Restaurants, Ice Cream Parlours, Pastry Shops and Food Processing Plants in India. The chain caters to over 50,000 guests every day. Nirulas quick-family restaurants offer delicious, hygienic, ready-to-go, quick service food. Leaders in the self service, value-for-money style of restaurants in India, these restaurants are enormously popular with a wide cross-section of customers. These restaurants enjoy an excellent reputation, providing customers with consistently high quality food at reasonable prices. Serving a wide range of foods -- from Continental to Indian along with its well-known Salad Bar -- the restaurant is popular among people from all countries. The chain also has Family-style restaurants serving a wide variety of multicuisine foods, both Western and Indian. The Chinese Room, one of the first Chinese restaurants in Delhi, serves authentic Cantonese food. Some of their outlets also have a well-stocked range of various liquors, exotic cocktails, wines, spirits and beers in a pub setting. The res