Maintaining the consistency Essay
Wendy’s International Inc. comprises one of the biggest quick service or fast food restaurants expanding through franchising. By the end of 2008, Wendy’s has established 6,600 stores in 22 countries including the United States. Of the total number of stores, 1,400 are directly managed by Wendy’s and the remaining 5,200 are operated by franchisees. (Wendy’s International Inc. ) Wendy’s grew by maintaining the consistency of the taste and quality of its old fashioned hamburgers and fries. In addition, Wendy’s also developed an innovative menu to capture different market segments.
Apart from hamburgers, Wendy’s also serves fresh salads, fresh sandwiches, chicken wraps, and frosty shakes. Food is served in-store, taken out, or delivered. (Wendy’s International Inc. ) By diversifying its menu, Wendy’s sought to target different market segments by offering fresh choices for the health conscious consumer and value meals of its old fashioned burgers for price sensitive consumers. This means the implementation of multiple marketing strategies targeting different market segments.
The same menu innovation also occurs in its different restaurants worldwide to accommodate different food preferences and tastes in various markets. II. Wendy’s Vision Statement: Wendy’s seeks to continue towards becoming a leading fast food chain in the world by developing the
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In line with the vision of Wendy’s, it mission statement is ‘healthy fast food because you deserve better’. This is a means of distinguishing Wendy’s from the other fast food restaurants. The mission statements imply various specific targets of the company. In terms of its products, the company has declared commitment to the use of fresh produce and safe ingredients in the food it serves and an innovative menu for different tastes. In relation to price, it remains competitive relative to other fast food chains.
By focusing on superior food quality and food choices, Wendy’s takes a more customer-oriented approach by considering emerging market demand (Hoovers). A customer-orientation translates into a service centered culture, which means employee motivation to serve customers and the firm commitment to give back to the community as means of enhancing value for stakeholders. IV. External Audit: The external audit of Wendy’s identifies the different factors outside of the company that affects its strategic outcomes and influences its strategic response. 1. Opportunities and Threats
Wendy’s faces a number of opportunities. One is the expansion into other foreign markets. Currently, the company is operating in 22 countries and there are growing economies in Eastern Europe, Africa, Latin America and Asia that the company could tap as a market. Another is the expansion into the higher end market through its fresh salads, fresh sandwiches, and wraps that are akin to gourmet food. Last is expansion into niche markets such as the health-conscious crowd. Effective response to these opportunities could support the achievement of the mission and vision of Wendy’s.