When enter a new market, what do companies take into consideration to open their businesses? In order for new entrants, companies need to search the market in advance to assess whether the market will be favorable or unfavorable to their companies. An environment of market is formed by its external factors, which can give negative or positive impact on one’s business directly or indirectly. Without understanding or analyzing of the market where the business operates in, it will be challenging to cope with the environment and its unfavorable factors. With this premise, this paper has investigated the competitive attractiveness of the Danish Pan-Asian restaurant market, to advise new companies to identify the environment of the Danish market is favorable or unfavorable when they face a set of external factors with assessing the internal factors.
The findings, show that new companies must develop their unique selling point, as the substitute threat is high for smaller individual restaurants in the Pan Asian industry. On the contrary, the findings of the market investigation shows that among more established restaurants-chains such as Sticks’N’Sushi and Wagamama there is a potential for growing and competing. Thus in order for new companies to get there, they must be able to adapt and anticipate to new market conditions from which to build up the awareness brand, need for the product and secure customer loyalty e.g by embracing customer values.
|Uddannelser||Virksomhedsstudier, (Bachelor/kandidatuddannelse) Bachelor|
|Udgivelsesdato||25 maj 2016|