Sunday, August 25, 2019

Re-introducing Wendy's into Singapore Dissertation

Re-introducing Wendy's into Singapore - Dissertation Example These factors have also enhanced the profitability of the food and beverages industry of this country. The popularity of Western fast food among the population is also increasing and hence, many global fast food companies like McDonald and Burger Kings has entered in this market. Wendy’s entered in Singapore market during 1980s but due to unfavourable forces, it had to withdraw from Singapore in 1997. However, Wendy’s has again entered in Singapore market with the collaboration of Kopitiam Group who has bought Wendy’s franchises. This paper attempts to evaluate the success of Wendy’s in Singapore market after its re-entry and to offer relevant recommendations for reintroducing its brand in Singapore. Wendy’s is the third largest fast food chain in the global food and beverages industry and it is very famous for its old fashioned hamburgers. In other global markets, Wendy’s has been successful but when it entered in Singapore market during 198 0s, it was unable to survive. Now, in order to make successful re-entry, the company needs to reposition its brand image among the target consumer groups by implementing proper branding strategies and conducting brand awareness in the market. In this respect, this paper presents a detailed literature review focusing on multiple models and theories of branding strategies. There are four major sections in literature review which includes brand reintroduction and repositioning, brand awareness and its importance, building brand image and different models for framing branding strategies. In order to draft branding strategies, two dimension strategy and Ansoff model is very useful to determine the market situation and multiple strategic directions. Promotional strategy is very important aspect in branding strategy and hence, implementation of integrated marketing communication is the most suitable in this respect. In order to meet the objectives of this research paper, it is necessary to generate key information and hence, an extensive research has been conducted. For measuring the feasibility of Wendy’s re-entry in Singapore market, primary as well and secondary data has been analysed. Secondary data analyses have disclosed that due to growing economic condition and increasing popularity of western fast foods, F&B industry of Singapore is growing at decent rate. The profitability of fast food outlets is the higher that other F&B sectors like restaurants and other food caterers. The primary data analyses have disclosed that new consumers want to taste Wendy’s food as most of them have aware of this brand. Primarily, they look for high quality product with fast and efficient services. The consumer loyalty rate is high in Singapore consumers and most of them prefer the brand like McDonald, MOS Burger, Burger Kings etc. Therefore, there is a great opportunity for Wendy’s success, if it can develop its own base of loyal consumers by providing high quality prod

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