Executive Summary Marketing Analysis of the Australian Fast Food Industry Prepared by Fundamentals of Marketing (FOM) Consulting Company for Healthy Living Group. The purpose of this analysis was to assess the opportunities and threats of opening up an Australian, low calorie fast food restaurant. This analysis has focused on: SWOT (Strengths, Weaknesses, Opportunities and Threats) Analysis on the Healthy Living Group as a Potential Healthy Fast Food Company. from this analysis there appeared to be a viable option in pursuing a Market analysis. Trends Affecting Fast Food Consumption: Demographic The family lifecycle and it's changing and evolving dynamic. Multiculturalism Sociocultural Baby Boomers: (wanting change) Generation X: (suspicious and educated) Generation Z or iGeneration: (Synergy between entertainment, study and work will merge.(Lamb, Hair, Mcdaniel 2014) Component Lifestyle (The practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single traditional lifestyle. (newer school of thought. Stereotypes are inaccurate and outdated) Economic Rising incomes: Inflation: Recession: Technological Primary research -- > applied research -- >sale to customers Natural Weather and climate -- >farming and agriculture -- >supplied to restaurant Political/Legal Federal Legislation Regulatory agencies Competitors
Competitors who offer healthy fast food: (Targeted towards time poor and health conscious consumers) Light and easy, cold pressed juices, health and fitness bloggers/creators of content, subway, healthy food section on the Mcdonald's Menu, Coles and Woolworths have healthy pre-made food sections with sandwiches and soups etc., Fast Food Giants, who offer the most available and cheap fast food options: (Targeted to children, consumers who are looking for a low cost meal and time poor consumers) Yum! Brands, McDonalds and Dominos. Threat of substitutes: (targeted to different consumers) Frozen meals, delivery meals, easy to cook from scratch food from supermarkets. "The substitute product is convenient and offers both cheap value meals and quality products on a scale that matches the fast food industry. Many forms of fast food have attracted criticism for being unhealthy, while food retail offers consumers greater freedom to control their diet. However, the market for healthier forms of fast food is accelerating." (Datamonitor Asia Pacific , 2012) Buyer's behaviour Cognitive dissonance is a risk as Fast Food had a reputation of being unhealthy. A consumer who was trying to be healthy may not immediately consider a Fast Food alternative ten years ago, but now there are several Healthy fast food alternatives. Negligible switching costs for consumers mean that they are free to transfer their custom to a new player. (Datamonitor Asia Pacific , 2012) Segmenting the Market. Basis for segmenting consumer markets: Geographic segmentation, Demographic segmentation, Psychographic segmentation, Benefit segmentation, Usage rate segmentation: Targeted in each segment: Metro Area All Australians Consumers focussed on health Low budget, time poor Breakfast, Lunch and Dinner Targeting the Market, using the correct business orientation and strategies. Strategies,
Positioning-having the correct marketing mix is essential. Branding-In order to create brand loyalty, a positive, fresh, happy, healthy brand personality must be consistent. Product-convenience, value for money, healthy, low calorie and