'External factors affecting the fast food industry Essay\r'

' there ar a number of external factors that clear a deep impact on the gross sales and tax revenue earnings of the debased nutrition chains. The ever-changing demographics, shift in consumer taste and option, eating habits, enlarge in cost of supplies and labor, economic condition of the geographic area in which the outlets are located †wholly these are some of the factors that affect the profitability of the business. determine system Families and individuals in the higher income sort are most frequent visitors to the steadfast sustenance eatery.\r\nThe fluid income plays an important role in determining consumerism in this sector. The prices on the carte throwaway is not so important when it comes to catering to high disposable income group. notwithstanding that restricts the customer base and may not be an ideal situation for the company. Today’s lifestyle has incorporated the fast sustenance indus sift into its perfunctory schedule. The Wendyà ¢â‚¬â„¢s or the McDonald’s take up menu visors that fount the pocket of the low-income segment group too. Recently McDonald’s had introduced the Dollar Menu where every items cost $1 totally.\r\nIt was a runaway pretend with the teenagers and youngsters. The variance in price has enabled McDonald’s to pass customers from all segments. In response to this pricing strategy Wendy’s and Burger King also introduced low priced meals to suit the pocket of all segments. hazard Yard Burgers on the other hand have higher priced burgers at $3. 59. The premium priced menu card has not rig acceptance with all consumer segments but the counseling does not want to compromise on the price of the products. It believes that in terms of feel of the feed items the prices are reasonable.\r\n brook Yard Burgers wanted to distinguish itself from the cutthroat rival in the industry with premium quality products. The management strategy holds good in terms of quality and attend but is it good enough for the extract of the company? A look at the sales figures for the past 3 years gives an indication of the sales and revenue trend. Consumer taste and preference The ever changing taste buds and increasing metamorphoses in lifestyle of the consumer has unploughed the fast food industry on their toes.\r\n lift mobility, increasing number of women joining the workforce and febrile schedules leave very little time for a home cooked meal. The need for faster options in food and proceeds was felt that led to the tremendous issue in the fast food industry. Quick set burgers, pizzas and sandwiches accompanied by French fries and blast became the ideal meal for the average Ameri foundations. A nutriment rich in fat and sugar attracted the consumers in plenty. This resulted in obesity and a disease flat society. Diabetes, heart problems were some of the impacts that the cheesy diet had on the consumers.\r\nLawsuits were filed against some major players in this field the likes of McDonalds for the growing obesity among children and adolescents. This awakened the consumers of fast food and they realized the necessity for healthy alternatives. Health conscious consumers are more alert of what they eat and how it can affect them. The industry witnessed a radical commute in consumer taste and preference. This brought about a calculative decline in revenues for the fast food industry. The fast food chain operators brought about a change in their strategy by adding salads, fruits, and soups to the menu cards.\r\n modest calorie burgers and sandwiches are offered in addition to the unbroken menu items. This offers the customers with choice to healthier meal options. gumption Yard Burgers has also adapted to the changing consumer preference by adding nutritious salads and milkshakes to their menu card. Introduction of cook charbroiled burgers that claim lesser fat and lower calories have attracted the consumer interest and ta ste. Healthier and tastier alternatives in food items prepared with fresh ingredients are the strategic point of Back Yard Burger’s customer service.\r\nThis has not only earned it a good reputation among the leal consumers who return for more of the great quality food and taste but has also strengthened its grocery position. But the fast food industry cannot experience consumer loyalty since the interest of consumers is flickering. They always want to try something new and better variety of options in food that they consume. To serve the changing tastes of the consumer and maintain their interest the restaurant needs to constantly make changes to its menu card by adapting to their taste buds. Back Yard Burgers should control this mind while formulating their operating strategy.\r\nWith more fast food companies offering a wide throw of products and services, Back Yard Burgers should also draft changes to its real operating structure. One way of achieving this objective would be to combine the essential features of both fast food and full service restaurants. A menu card that features in a regular full service restaurant integrated with fast food service will work wonders for the company †boosting sales and revenue with an increasing consumer base. Event catering and home slant service could also open newer avenues for the company.\r\n'