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Los Panchos is a famous food chain restaurant having a Mexican origin.

It offers meat based dishes, flour tortillas and other dishes which use more spices and chilies depicting the specialty of the Mexican cuisine. In their specialty meat dish, they use sour oranges, clove, garlic, annatto paste and a lot of chilies. The resultant roasted meat has deliciously complex taste served with chili powder, chili sauce, and 3-4 whole limes. Currently, they are getting good and positive response from their customers in terms of their repurchase decisions. Thus, generating high revenue and profit in Mexican food market. After this great success, they have planned to enter the Chinese food market through licensing. People residing in northern and north-eastern parts of China cannot bear any spicy food. They usually prefer salty and less spicy food. Particularly, they like meat; being cooked with less spice and hot; to enjoy the taste of the meat. Requirement: What do you think Los Panchos will be successful to capture the Chinese food market? Identify the main reasons of possible failure or success. In any case, suggest the measures that could be taken by Los Panchos for further improvements in their business.

What do you think Los Panchos will be successful to capture the Chinese food market? Los Panchos can be successful to capture the Chinese food market by making the Chinese choice food and creating the Chinese taste because geographic and demographics change has been occurred and need to follow the customer desire. If we dont change the pattern that we are previously doing by making spicy food for Mexican then its a big mistake to choice a Chinese food market, because customers are not willing to purchase your spicy food. Identify the main reasons of possible failure or success. Possible failure can be unable to achieve the customer wish and demand by not satisfying their need on time and as per the desire.

Success can be get by train the staff, increase the use of technology, best services and environment. Keeping check and balance, get regularly feedback and changing the food and ingredients as per customer desire. Suggestion: 1. 2. 3. 4. 5. Top management should be proactive to take risk. Risk Capital Best Taste and healthy food must be deliver to customer. Dont tease them if they dont know about your menu. Retain the customer is best to attract new customers, loyal customer promote you products and they precise to others and advise them to purchase your products. 6. Top to lower management should be well behaved and educated. 7. Appreciation and reward motivate employees to work well. 8. Management should be Decision maker. 9. Use of technology 10. Best services 11. Location

Running a restaurant is not for the faint of heart; it takes endless hours of dedication, patients to deal with difficult customers, and the skill of a circus juggler to balance the needs of employeesbut don't fret, we've put together these ten tips to improve your restaurant business. 1. Know your market. It is important to know who you are serving. Walk around your business's neighborhood. Are you located by a big box store? Maybe a strip mall or next to public venues? Figure out what type of customers are already in the vicinity of your restaurant. Your menu should also reflect this market. Look for prices that might be too high or too low for your customers. If you are serving a burger and fries for $15 but your clientele can only afford to dish out $8, look for ways to cut cost and bring down your prices. On the other hand, if you are selling hot dogs to a crowd that just came out of the town opera, chances are you won't get too much foot traffic. 2. Know your competition. Figure out who is stealing all your customers and why. Do they have better service? Better food? Take time to have a meal in each restaurant that you compete with and look for ways to improve your restaurant business. 3. Service. Service. Service. Set aside time to meet with all of your staff outside of regular business hours. Ask the kitchen staff to suggest ways your servers can improve efficiency and vice-versa. Fewer trips to the kitchen means better service for your customers. Remember, if there is one thing that can easily ruin a great meal, it is poor service.

4. One wordcleanliness. Look around your establishment. Take note of how clean the appearance is or is not. Most customers will assume that if you cannot keep the front of the house clean, then your kitchen is even worse. Sit down at a table for a while and watch your servers. Are they wiping down tables after each customer leaves? Did they walk by that straw wrapper without picking it up? A dirty restaurant is an easy way to lose customers. Most customers will not take time to complain but they will definitely tell their friends. 5. Good food. This one should be a no-brainer. Pay particular attention to quality, freshness, and appearance. You can totally bomb on the rest of these tips, but if the food is out this world, restaurant business will improve. 6. Waste management. No, we are not talking about taking out the trash. Look for ways to trim the fat and cut cost. How much are you giving out in employee meals? A freebie or just a discount? While it is important to keep the morale high, you don't want to waste unnecessary spending on employee meals. Set discounts in accordance with how many hours the staff member worked that shift. In addition, meet with your vendors and haggle for better pricing. Call their competitors and see if they can give you a better rate. 7. Specials. What is your slowest night? Do the math and plan specials to help improve that night's business. Injecting new life into a slow night is an easy way to improve restaurant business. 8. Catering for local businesses. Hire a local graphic design company or have one of your artistic staff members design a pamphlet for business luncheons. If your space doesn't provide for it, then offer to cater off-premise. 9. Getting the word out. Even if you do not have the budget to advertise in the local paper, you should at least be advertising in-house. Keep your customers informed by setting up a bulletin board. Use a chalkboard or other signage to advertise daily specials outside the front entrance. This will help bring foot-traffic into your restaurant. 10. Management. Look in your own backyard. Make sure you are effectively communicating with the staff. Try not to get too friendly with the cute waitress you just hired. Lead by example. If your staff sees you slacking, they will think it is OK too. Become that fearless general you always dreamed about being; grab a chicken leg and lead the charge to improving your restaurant business. Read more: http://www.mademan.com/mm/10-tips-how-improve-restaurantbusiness.html#ixzz2S9BzHHsQ When results count, you'll find that highly successful people aren't any more talented or intelligent than you are, they simply have learned how to do things in a different and more profitable way. Here's a comprehensive list of practical customer-winning ideas, tips and techniques to set your business apart and make it a successful experience. CUSTOMER ANALYSIS:

1.) Find out who your customers are and what they are seeking. 2.) Profile your customers by age, income, occupation, etc. 3.) Know the reasons why customers shop at your store? (service, convenience, dependability, quality, promptness, or competence). 4.) Understand the market forces affecting the consumer's attitude when it comes to price and what they expect to pay. 5.) Emphasize areas of appeal such as: special sizes, lower prices, better service, wider selection, good location, or convenient hours. 6.) Offer unique products at prices your customers can well afford. 7.) Have a tracking system for how many customers shop your store every day. 8.) Seek suggestions from your best customers on ways you can boost business. 9.) Try to re-establish lost or inactive customers. 10.) Use a store questionnaire to aid you in determining customers' needs. 11.) Plan on making any changes to satisfy the new value-conscious consumer. CUSTOMER RELATIONS: 12.) Improve your return policies. 13.) Make it a policy to give cash refunds when requested by the customer. 14.) Offer customers a "no hassle" satisfaction guarantee. 15.) Use a suggestion box and customer want slips. 16. Extend your store hours. 17.) Accept Visa, Mastercard, Discover, and American Express. 18.) Analyze complaints and take action to prevent recurrence. 19.) Train employees to service and work with customers in a professional manner. 20.) Call customers to let them know when new items have arrived. 21.) Have lots of convenient parking for customers to use.

22.) Have a clean bathroom available for customers to use. 23.) Grade your store's location every year in regards to and accessibility. 24.) Create a system to let customers know how much you appreciate their business. MANAGEMENT SKILLS: 25.) Use advertising techniques to create urgency and motivate customers to buy now. 26.) Test different aspects for promoting business: -- new offers --new items -- new prices -- special announcements -- stronger ads and better headlines. 27.) Know what type of advertising methods work the best to attract customers (direct mail, newspaper, television, radio). 28.) Use memorable advertising that sets your business apart from the competition. 29.) Create new opportunities for customers to purchase more frequently from your store. 30.) Implement proven business formulas of other successful retail firms. 31.) Replace outdated methods with new techniques and better resources for retailing in today's high-tech, fast-moving, and competitive marketplace. 32.) Set up an inventory control system in regards to shrinkage, performance, amount of merchandise, mark-up, profit and turnover. 33.) Determine whether to price certain items below, at, or above the market. 34.) Utilize a system for tracking slow-moving merchandise and those products that are your best-sellers. 35.) Use different ways to arrange and display merchandise that will make it easier for customers to buy. 36.) Know your average sales transaction and what you can do to increase it. 37.) Increase your sales transactions by offering better prices, more value, sales incentives, or add-ons. 38. Know which products are price-sensitive to your customers, that is, when a slight increase in price will lead to a drop-off in demand. 39.) Know the maximum price customers are willing to pay for certain items.

40.) Computerize your business to help streamline everyday tasks such as inventory control, point of sale, and overall business analysis. 41.) Evaluate the amount of inventory you carry, and fine tune your operating expense ratios on a regular basis. 42.) Buy distinctive merchandise that fits into a niche your competitors don't have. INSIGHTS FOR A SKILLED MARKETER: 43.) Attend trade shows that provide the latest technology, inventory systems, educational seminars, and other industry related resources. 44.) Use newsletters as a "marketing tool" to remind customers of the products or services you provide. 45.) Create a budget for both regular and off-price merchandise, and do you know what role they should play in your buying strategy. 46.) Establish dependable resources where you can buy current, name brand and designer merchandise below wholesale prices. 47.) Make it an effort to buy promotional and off-price merchandise to improve your profit margin. 48.) Buy private-label merchandise to avoid the same line prices of your direct competition. 49.) Join other stores like yours in area-wide buying programs to receive better prices or trade discounts. 50.) Do cross-marketing by joining forces with restaurants, clubs, or whatever to jointly develop special promotions. 51.) Belong to trade associations and subscribe to newsletters and trade publications to keep you informed. 52.) Involve employees in making suggestions for improving business and cutting costs. 53.) Implement a program to reward your employees for their extra efforts and innovative ideas. 54.) Empower employees to make important decisions, even if it means losing a small amount of money to make your customers happy. 55.) Don't let emotions get in the way of making sound business decisions.

Read more: gdp solution required - Virtual University of Pakistan http://vustudents.ning.com/group/mkt630internationalmarketing/forum/topics/gdpsolution-required#ixzz2S93WoN3v For imprvement thay have to introduce less spicy & chille dishis according to market of relevant country i.e in china specillly. they dont like spicy foods

Research shows that some popular perceptions about the rate of failure in the restaurant industry are just not true "Do you know me?" asked Rocco DiSpirito in a 2003 TV spot for American Express. "I'm a chef who already runs two restaurants in New York. Now I'm opening a third on national television in a time when nine out of 10 restaurants fail in the first year." Like many viewers, H.G. Parsa did know DiSpirito from his NBC reality show The Restaurant. The nine-out-of-10 figure was familiar, too. As an associate professor in Ohio State University's Hospitality Management program, Parsa had heard it many times before. But based on his 13 years of restaurant-industry experience, he still didn't buy it. Parsa says he spent three months trying to track down someone at American Express who could give him a source for the 90% figure quoted in the ad. As it turns out, they didn't have one. "American Express has not been able to track down a specific data source for the statistic," reads a written statement a spokesperson sent Parsa in response to his request. Urban Mythbuster Parsa wasn't surprised. He had run several spreadsheet simulations to verify the statistic himself and found that not only is the 90% figure off base, it's practically impossible, given industry growth rates. He decided to do his own research on failure rates, using Health Dept. records to track turnover among 2,500 restaurants in Columbus, Ohio, over a three-year period. His researchconsistent with similar studiesfound that about one in four restaurants close or change ownership within their first year of business. Over three years, that number rises to three in five.

While a 60% failure rate may still sound high, that's on par with the cross-industry average for new businesses, according to statistics from the Small Business Administration and the Bureau of Labor Statistics. Parsa's study garnered serious attention within the hospitality field: Within a year of the paper's publication in the Cornell Hotel & Restaurant Administration Quarterly in August, 2005, Parsa's research had been downloaded nearly 2,000 times, a record for the trade journal. But in the culture at large, the nine-out-of-10 myth has stubbornly defied debunking. Wary Lenders While it's certainly not the first urban legend to fly in the face of facts, Parsa holds the banking community largely responsible for perpetuating it. "They are the ones that benefit from the myth, and they use it more than anyone else," he explains, though he's quick to note that his opinion is based on logic, not research. Because of the belief that restaurants are high-risk investments, he says, many banks won't lend to restaurants at all. Typically, the ones that do require would-be restaurateurs to pay sky-high interest rates or put up significant collateral (say, a house) to mitigate the perceived risk (see BusinessWeek.com, Winter, 2007, "Tapped Out"). Ironically, Parsa's research identified lack of sufficient startup capital as one of the major elements that contribute to a restaurant's failuremaking the myth a self-fulfilling prophecy of sorts. Of course, a lot of restaurants do open and close each year, because opening a restaurant has such low barriers to entry and exit. And because the figure seems trueafter all, there's plenty of anecdotal evidencestatistics-quoting experts who don't cite their sources often go unchallenged. The mediaBusinessWeek includedadds fuel to the fire (see BusinessWeek.com, 5/19/03, "Cooking Up a Global Empire"). And every "under-new-management" sign in a restaurant window acts as an independent confirmation, cementing the idea that restaurants are impossibly risky further into our collective memory, continuing the cycle. Franchise Safety Is Overrated And it doesn't end there. Research shows that a lot of the conventional wisdom about failure in the restaurant industry is similarly faulty. One widely held belief is that franchise restaurants are much safer bets than independent restaurants. But Parsa found that the three-year success rate for franchised restaurants is actually only a few percentage points higher than it is for independentsabout 43%. That's a far cry from the 90% or higher success rates trumpeted by many franchisors. So far a cry, in fact, that the International Franchise Assn. decided it had to step in to clear things up. In 2005, the IFA issued a letter urging its members to remove from their Web sites or printed materials "any information claiming that the success rate of

franchised establishments is much greater than that of independent small businesses," calling the information "potentially misleading." The IFA specifically called out franchisors for using old Commerce Dept. data that has been shown to be invalid. But because changes in franchise ownership usually remain behind the scenes, Parsa says it's still easy to make franchises look like a much safer bet than they are. "In the Yellow Pages, a Taco Bell is still a Taco Bell," Parsa sayseven if it's had five different owners in a year and isn't turning a profit (see BusinessWeek.com, 1/29/07, "Franchise Owners Go to Court"). On the other hand, Parsa's failure-rate statistics are somewhat misleading too, because they count any turnover as a failure, including restaurants that close or change hands while still profitable. Juggling Family Ties Given the immense time commitment that goes into owning a restaurant, it makes sense that some owners want out, even if they're making money. And in fact, the number of profitable "failures" is not insignificant. A 2003 report from an economist in the SBA's Office of Advocacy analyzed unpublished data from the U.S. Census and found that onethird of closed businesses were financially successful at closure. "It appears that many owners may have executed a planned exit strategy, closed a business without excess debt, sold a viable business, or retired from the workforce," the report noted, adding that business-failure statistics might therefore present "much more daunting odds for business success than is actually the case." Whether failure rates overstate or understate the odds, no one disputes the conventional wisdom that making it in the restaurant industry is no cakewalk. What entrepreneurs might find surprising is just how much a restaurant's success hinges on an owner's ability to keep the pressures of work from affecting life at home. Parsa says how well an owner juggles the demands of the business with family life is actually one of the most critical factors contributing to a restaurant's successmore important, even, than "location, location, location." Overcoming Geography His conclusions were based on in-depth interviews with 20 successful and 20 failed restaurateurs. He determined that "beyond muddled concepts, failure seemed to stem in large part from an inability or unwillingness to give the business sufficient attention, whether due to lack of time, passion or knowledge." Most of the failed restaurant owners themselves attributed their failure at least partly to competing family demands, including divorce, ill health, and retirement. Some owners voluntarily closed when the family sacrifices became too much, like one owner who said she didn't want to miss seeing her children grow up.

Location, while an important factor, appears to be more of a "moderating variable" than a causal one, Parsa says, ruling that "a poor location can be overcome by a great product and operation, but a good location cannot overcome bad product or operation." DiSpiritowhose restaurant Rocco's on 22nd Street shut down just over a year after its well-publicized openingmight well have a few moderating variables of his own for the list.

Read more: gdp solution required - Virtual University of Pakistan http://vustudents.ning.com/group/mkt630internationalmarketing/forum/topics/gdpsolution-required#ixzz2S947t2Vx

The Chinese food market is immense but com preferences and usages are constantly evolv The average Chinese spends more than 40% of disposable income on significantly from region to region, culture to c food and beverages. It is forecast that the Chinese food and beverage and rural populations, age groups, and afford market in 2005 will be valued at approximately A$350 billion and will increase at a rate of more than 10% per year for the next decade. The affluence of the Chinese consumer is increasing rapidly as millions of Chinese join the middle class each year. Even the poor will spend the equivalent of months or years of salary to try food that is considered new, unique, exotic or have significant health benefits. The food consumption trend is for more meat, aquatic products, dairy products, convenience read-to-eat/cook meals and fresh and health foods. The Chinese consumers are becoming more health conscious and foods that have health properties for the young and old to help resist disease development, improve mental and physical strength, sex drive, endurance, intelligence, memory and physical appearance or reduce weight, will have a ready market. Western style food is becoming very popular in China particularly fast foods and beverages such as McDonalds burgers, Kentucky Fried Chicken, Starbucks coffee and PizzaHut. Many of the international food brands such as Coca Cola, Budweiser, Nestles, Heinz, Kraft and Peters are becoming household names. A majority of the Chinese have come to accept imported foods as being superior in quality and are more willing to pay a higher price for them. National food distribution in China is still a major problem due to poor transportation, lack of a cold chain, fragmented marketing networks, logistics, under developed agricultural production and postharvest management systems, and regionalism. Totally foreign-owned manufacturing and distribution is now possible and the market for foreign food products is likely to expand rapidly over the next few years due to surging consumer demand for greater quality and variety; improving distribution infrastructure, food standards and regulatory environment, market access liberalization, conformity to WTO agreements, and falling duties and taxes. Food retailing is undergoing significant changes from wet markets and corner shops to that of hypermarkets, supermarkets, departmental stores and convenience stores. Foreign retail chain giants such as Wal-Mart, Carrefour and Metro are now well established in China. Food consumption through hotels, restaurants and institutional food outlets is booming. This rapid growth is driven by the emergence of large middle class 2-income families and the Chinese tradition of hospitality and dinning out. Branding, presentation, packaging design and size, quality, varieties, shelf life, safety and reliability are now important ingredients for marketing success. The Chinese consumers are becoming more style conscious and sensitive to evolving trends and fads and will spend

Food is a national obsession and an essential part of Chinese culture and social life. Major life events revolve around food and while the average Chinese is price conscious and conservative, little expense is spared for food related gifts, entertainment and events.

There are tremendous opportunities in the ar only a small proportion of the food production China currently processes about 25% of its fo to 90% in developed countries such as Austr

Major Business Opportunitie

Import and export of raw food com ingredients and new flavours for proces Import of processing, packaging and foo Import of western and organic foods, nu Import of dairy products, live and froze wild animal and plant foods, wine a snacks, and fresh or dried fruit and vege Provision of food processing and ma technology New food product recipes and formulati Food processing, manufacture and ca and medium operations and for townshi Development of cold chains, distribution Establishment of retail chains and franc

you to DO and MAKE business HAPPEN in C Unless you have a product or service that sells itself, having a quality program. product or service at a competitive price does not necessary translate into instant success in China. The average foreign organization or Please browse our Partner and Business Cen