There are many factors which are keys for the success of a fast food business. The fast food companies adopt many strategies to cope with the challenges of competition and changing consumer taste.
New Items on the Menu
The fast food industry is criticized for its unhealthy foods, and the customers may prefer to stay away from unhealthy food. Therefore, the fast food industry is now adding new items to the menu that are healthy. The fast food chains are now adding new items to the menu to satisfy consumer demands.
Fast Service
The main attractiveness of fast food business is its prompt delivery. In fact, the term ‘fast food’ is derived from the meaning the food which cooks so quickly. For this reason, the main objective of the fast food industry is to provide quality food in the least amount of time. The foods offered in these fast food outlets are called made-to-order meals, as they are cooked quickly.
Strategies
The fast food industry uses many strategies to expand and be successful in the market. One strategy is acquisition—the fast food companies acquire small chains to expand their business and getting higher revenues. An example is McDonald’s acquisition of smaller chains of Boston Market, Mexican Grill, etc. Another method of expansion is opening a large number of franchises across the globe. McDonald’s is currently doing business in 120 countries and has 30,000 stores worldwide (“Our Story,” 2013).
New Items on the Menu
The fast food industry is criticized for its unhealthy foods, and the customers may prefer to stay away from unhealthy food. Therefore, the fast food industry is now adding new items to the menu that are healthy. The fast food chains are now adding new items to the menu to satisfy consumer demands.
Fast Service
The main attractiveness of fast food business is its prompt delivery. In fact, the term ‘fast food’ is derived from the meaning the food which cooks so quickly. For this reason, the main objective of the fast food industry is to provide quality food in the least amount of time. The foods offered in these fast food outlets are called made-to-order meals, as they are cooked quickly.
Strategies
The fast food industry uses many strategies to expand and be successful in the market. One strategy is acquisition—the fast food companies acquire small chains to expand their business and getting higher revenues. An example is McDonald’s acquisition of smaller chains of Boston Market, Mexican Grill, etc. Another method of expansion is opening a large number of franchises across the globe. McDonald’s is currently doing business in 120 countries and has 30,000 stores worldwide (“Our Story,” 2013).