There are many learning points in this project about doing business in the international market. In this report I learned the cultural diversity of India, its glorified arts and architecture, and the growing Indian market as well. This report taught me the different entry options in new markets and what option is best for the fast food business. I learned about the challenges, opportunities, and risks involved in doing business in India.
I studied the political, economic, socio-cultural, and legal environment of the country and how to survive in a completely changed business environment. The report taught me about the success factors in the fast food business and the innovative ideas used by many fast food companies. This report told me that operating in the fast food business is not as easy as considered, as there is a lot of competition in domestic and foreign markets. What is needed for the success of a fast food business is the uniqueness of your product and service and what you offer. The business idea is very important in this regard, as you have to think differently from others. The innovative strategy proposed in this report is the side-by-side vegetarian outlet with the non-vegetarian outlet to cater to both types of Indian customer preferences. Also, offering many types of cuisines at one store – pizzas, burgers, side dishes, and burritos would pull more people who can choose to have different cuisines at one convenient place. Operating this business through a franchisee would be the best option for this type of fast food business to enter the international market of India and become successful.
I studied the political, economic, socio-cultural, and legal environment of the country and how to survive in a completely changed business environment. The report taught me about the success factors in the fast food business and the innovative ideas used by many fast food companies. This report told me that operating in the fast food business is not as easy as considered, as there is a lot of competition in domestic and foreign markets. What is needed for the success of a fast food business is the uniqueness of your product and service and what you offer. The business idea is very important in this regard, as you have to think differently from others. The innovative strategy proposed in this report is the side-by-side vegetarian outlet with the non-vegetarian outlet to cater to both types of Indian customer preferences. Also, offering many types of cuisines at one store – pizzas, burgers, side dishes, and burritos would pull more people who can choose to have different cuisines at one convenient place. Operating this business through a franchisee would be the best option for this type of fast food business to enter the international market of India and become successful.