The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreApr 2017
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In the current landscape, fast food brands need to be “better” in order to survive. Consumers are demanding better food, better experiences, better corporate citizenship and, ultimately, better value for their money. This briefing will examine the search for a balance in value positioning and premiumisation, using four case studies to illustrate how operators are attempting to tackle this challenge.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Long-term growth prospects in fast food have changed. Operators cannot rely on unfettered growth in a few major emerging markets, nor on consistent steady returns in core developed markets. New competitors are emerging, new channels are growing and fighting for fast food share, and consumers themselves are changing their habits in ways that may not necessarily benefit major chains. Operators need to find new ways to succeed within this landscape, adopting a strategic balance of value and premium offerings to maximise appeal and maintain an edge on the competition.
Quality is now a fundamental priority within fast food. Consumers expect high-quality ingredients and preparation methods, and they want to see that operators are taking steps towards improved quality, even at the lowest price tiers. Consumers want better food, but they want better everything else as well: faster, easier, more convenient, more satisfying and more exciting, all at a value-driven price point.
In order to achieve this balance, fast food operators must find ways to upgrade brands without diluting existing appeal. The key to this strategy is to focus on brand strengths instead of weaknesses, improving them further to maximise appeal for core customers. Operators must improve the ingredients in key menu items, make service as quick, seamless, and efficient as possible, and continually invest in new technology to maintain relevance and maximum accessibility.
As illustrated by Chick-fil-A, great execution appears to solve most problems. Good food delivered with pleasant service, reasonable speed and dependable accuracy may ultimately provide consumers with the best value, even more so than exciting branding, clever positioning or extra premium amenities.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.