Marketing Plan of a Fast Food Company: Burger Fuel

11422322 2ND Assignment, Part A &Part B

Table of Contents………………………………………………………………………………………… ……..1 Executive summary………………………………………………………………………………………… ..4 Section 1. Introduction…………………………………………………………………………………… …6 Section 2. Situational Analysis…………………………………………………………………………..6 2.1. PESTLE Analysis…………………………………………………………………………………………. 6 2.1.1. Economic environment……………………………………………………………………………7 2.1.2. Socio-cultural factors……………………………………………………………………………….8 2.1.3. Technological Factors……………………………………………………………………………...8 2.1.4. Environment…………………………………………………………………………………… ……….9 1 |Page

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2.2. Market Analysis………………………………………………………………………………………..... 9 2.2.1. Consumer Needs/Market Size………………………………………………………………....9 2.2.2. Market Forecasts…………………………………………………………………………………….10 2.2.3. Market Characteristics…………………………………………………………………………...10 2.2.4. Buyers` Behaviour/Target MARKET…………………………………………………………11 2.4. Competitor Analysis…………………………………………………………………………………...12 2.4.1. McDonald`s……………………………………………………………………………………… ……..12 2.4.2. Burger King……………………………………………………………………………………………… 13 2.4.3. Wendy`s………………………………………………………………………………………… …………14 2.4.4. Red Robin`s Gourmet 2 |Page

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Burgers…………………………………………………………………..14 2.4.5. Industry Profitability (From The View of Porter`s Five Forces) …………………..15 2.5. Company Analysis………………………………………………………………………………………… 15 Corporate Governance…………………………………………………………………………………… …..16 2.6. Implication of Situation Analysis……………………………………………………………..…...17 Section 3. SWOT analysis………………………………………………………………………………………..17 3.2 Implications of SWOT Analysis…………………………………………………………………………..20 SECTION 4. Objectives……………………………. ……………………………………………………………….20 4.1.1. Mission Statement………………………. ………………………………………………………………..20 4.1.2. Corporate Objectives…………………. ………………………………………………………………….21 4.2. Marketing Objectives……………………. ………………………………………………………………….21 3 |Page

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SECTION 5. Marketing Strategies……………………………….. ……………………………………………22 5.1. Country market Selection….. ………………………………………………………………………………22 5.2. Market Entry Mode…………. ………………………………………………………………………………..22 5.2.1. Export Based Entry……………………. …………………………………………………………………….22 5.2.2. Manufacturing Based Entry……………………. ……………………………………………………….23 5.2.3. Relationship Based Entry……………………………………. ……………………………………………24 5.3. Generic Marketing Strategies………………………………………………………………………………24 5.4. Target market selection…………………………………………………………………………………….. 25 5.5. Marketing positioning……………………………………………………………………………………… ….25 5.6. Marketing Mix………………………………………………………………………………………………… …..25 5.6.1. 4 |Page

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Product/Service………………………………………………………………………………… ………………25 5.6.2. Place……………………………………………………………………………………………… …………………26 5.6.3. Price……………………………………………………………………………………………… ………………….26 5.6.4. Promotion……………………………………………………………………………………… ………………….27 SECTION 6. Economic (Financial) Evaluation……………………………………………………………....27 6.1. Planning assumptions…………………………………………………………………………………… ………27 6.2. Forecast Sales and Costs………………………………………………………………………………………..27 6.3. Break-Even Analysis (Forecast Profitability) ……………………………………………………………28 6.4. Sensitivity Analysis………………………………………………………………………………………… ……….28 5 |Page

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SECTION 7. Implementation and Control……………………………………………………………………….28 7.1. Action Plan For Implementation……………………………………………………………………………… 29 7.2. Monitoring of action plan………………………………………………………………………………………..29 Tables And Graphs…………………………………………………………………………………………… …………….30 References……………………………………………………………………………………… ……………………………..33

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EXECUTIVE SUMMARY Demographic Variables Fast food consumption is popular between age group of 16-35, especially amongst teenagers. The consumption rate decreases after the age of 45. Main competitors The most visited chains, in order, are McDonald's, followed by Burger King. However, another gourmet burger chain named Red Robin is the biggest competitor in regards to the product segmentation. Economic variables of the US The USA has the biggest economy in the world even after when it faced a deep economical recession. The US is also the most technologically powerful economy, with a per capita GDP of $46,900 The real GDP growth rate is 1.1% by 2008 and the inflation rate is 3.8% (2008). Total households in the USA are roughly 116 billion and 1.93% of those had annual incomes exceeding $250,000. Nearly 12% was under the FPT (federal poverty threshold) and the bottom 20.2% was paid less than $19.000. Socio-cultural aspects of the US The population of the USA includes 79.96% white, 12.85% black, 4.43% Asian and 0.97% Amerindian and Alaska native. With 4.6% of the world's population the US is responsible for almost 21% of global emissions of carbon-dioxide emission There are 51.3% Protestants, 23.9% Roman Catholics, 1.7% Mormons, 1.6% other Christians, 1.7% Jewish, 0.7% Buddhists, 0.6% Muslims and other or unspecified group is about 2.5%, unaffiliated 12.1%, none 4% (2007 est.) Market analysis There are nearly 200.000 take-in or take-away restaurants and these stores are estimated to make $120 billion in sales. The market grew by 5.7% in 2008 to reach a value of $68.2billion. Market forecast in 2013, the US QSR (quick service restaurants) market is expected to have a value of almost $84 billion. This is a boost of 23.5% ever since 2008. Buyers` behavior/target market The fast food consumers are usually those whose earnings fall between $20.000 – $40.000, interesting to note is that in the group of occupations, housewives and employed people are the most frequent consumers of fastfood. Consumers have increased consumption of fast food because it provides the incentives to do so with respect to price, time, and taste. SWOT analysis Strenghts: Wide product range, strong positioning, innovation. Weaknesses: 7 |Page

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Lack of market concentration, limited financial budget, lack of foreign market knowledge. Opportunities: Positive outlook for restaurant industry in the US and new products development. Threats: Swine flu, intense competition Mission statement Providing high-quality gourmet burgers with fresh ingredients in a fun, humourous, friendly environment to its customers and offering a hygienic, `fun to work` working conditions to its employees. Marketing objectives Achieving market share of the US market of 0.5% at end of year 1, %1 at end of year 2 and %2.5 at the end of year 3 also achieving brand awareness in the US market of 2.5% at the end of year 1, 5% at the end of year 2 and 10% at the end of year 3. Generic marketing strategy Burger Fuel’s the most possible strategy is product differentiation . Since the company already offers gourmet burgers as well as its signature ice-cream the company has the potential to develop its products and thus specialise in its product line with more differentiated products. Target market selection Primary target segment is demographic that is the age group between 16 35. The reason is that this target group is relatively young and likely to follow new trends, enjoy entertainment and fun environment. Burger Fuel offers that environment. Marketing positioning Burger Fuel should be known by its exceptional service and atmosphere and even their innovative products such as `Doofer`, the cardboard burger folder. For that reason the stress may be made on the company’s `ultimate fun environment` (funny cashier names, products` automotive theme names and such) as well as its unique innovations. Marketing mix Product: The product range should include the regular menu that as well as `customised` products. Price: As a new entrant and a market follower the company will be price-taker. Place: The company will use direct selling as its sale channel to its customers. Promotion: Attending relevant trade functions, advertising in target market’s interested media elements and leaflets. Forecast sales and costs Market share is forecasted to be low in the first year due to the company’s. In addition, due to employee training requirements in the USA, total costs are forecasted to be higher than the previous years. Break-even analysis (Forecast profitability) In the last six months to 31 March 2009 the Group was close to breaking 8 |Page

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even. However, further losses are expected in the 6 months to 30 September 2009, due to the requirement to support international markets and also continue to expand New Zealand. Action plan for implementation it is suggested that the company should enter the profitable US market by the end of 2010 However, a deeper and comprehensive market research should certainly be made. To be successful in the new market, marketing strategies should match with the company’s culture.

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PART A SECTION 1. Introduction In recent years the fast food industry or `quick service restaurant`(QSR) industry as its regarded in the Unites States has gained a lot of attention either because of its negative, well-heard `side effects` such as heart disease and obesity or how convenience and cheap it is. Even though fastfood consumption has become an everyday routine for some people especially teenagers and students as this report will specifically indicate the demographical variables later. Our company Burger Fuel is a chain of gourmet burger restaurant that was originally established in New Zealand in 1995 and it has 29 store locations in Australasia, 27 in New Zealand and 2 stores in Australia. One store in Dubai, Bahrain and UAE however is still waiting for the store completion. We now plan to extend to the overseas market of the United States of America. The following marketing plan will cover all necessary market research information and relative international marketing concepts & analysis such as PESTLE and SWOT analysis. Afterward the situational analysis and SWOT analysis with all aspects, it will cover implications of the SWOT analysis which will state whether our situation is worthwhile or not. If not, this report will attempt to advise possible alternatives of how to best approach the market. It will also describe ways our company capitalize on its strengths and opportunities while at the same time reduce the possible risks or weaknesses that is likely to be derived from the competitive environment. As our company is planning to extend to overseas market, this report`s aim is to prepare and present all the possible information before making an international visit to the destination country. To succeed in our bid to win into the USA market which as we know already is highly competitive, it is important to understand all aspects of the industry and analyse both primary and secondary data.

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SECTION 2. Situation Analysis Commercial companies are an open-system, they are all influenced by external forces that for the most part of them are regarded as uncontrollable.(Kennedy, Kiel, Lusch R.F& Lusch V.N, 1992, pg. 22.). Thus, macro-environmental factors, competitors analysis, industry analysis and of course market analysis is essential when proposing an international marketing plan. In this section, PESTLE analysis and before-mentioned analysis’s will be discussed. 2.1. PESTLE Analysis This analysis covers very important macro-environmental factors that are thought to have an effect on the overseas market. Please note that only relevant elements of PESTLE analysis will be discussed as some of the components of PESTLE analysis have almost no-effect in the overseas market regarding to our fast-food products. 2.1.1. Economic environment The USA has the biggest economy in the world even after when it faced a deep economical recession. The US is also the most technologically powerful economy, with a per capita GDP of $46,900 (CIA, 2009). On the other side, the country has reached it record trade deficit by $819 billion due to the recent economic downturn and investment bank failures that started middle of 2008. By 2008, the USA population reached 303.8 (CIA, 2009) with the constant growth rate of 0.90% since 2004. The global down turn, caused a decline in economical growth in the States like the most countries. The real GDP growth rate is 1.1% by 2008 (CIA, 2009). On the other hand, the inflation rate is 3.8% (2008) in the consumer prices. Nonetheless, in the USA one of the most important social/economical issue is the distribution of income that has been all the time high. According to the US Census 11 | P a g e

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(Economic survey, 2006) total households in the USA were roughly 116 billion and 1.93% of those had annual incomes exceeding $250,000. Nearly 12% was under the FPT (federal poverty threshold) and the bottom 20.2% was paid less than $19.000. The cumulative income distribution is highly concentrated towards the top while the top 6.37% is receiving almost % 35 of all income. Not surprisingly, upper-middle incomes have power over a large overall earned income (Dougas, 2003). In the light of the information given above, it can be concluded that the USA industry is a highly competitive market due to its economic wealth and many competitors which can in turn make it a bit difficult to enter the market. However, if BF succeed in breaking into the market it can still be assumed that majority of people could afford the products offered and would actually seek them out as a result of high quality standard. 2.1.2. Socio-cultural factors The US is a multi-cultural country like Australia. The population of the USA includes 79.96% white, 12.85% black, 4.43% Asian and 0.97% Amerindian and Alaska native (CIA, 2009). Religion is an important social/cultural factor when considering the market. CIA`s fact book shows that there are 51.3% Protestants, 23.9% Roman Catholics, 1.7% Mormons, 1.6% other Christians, 1.7% Jewish, 0.7% Buddhists, 0.6% Muslims and other or unspecified group is about 2.5%, unaffiliated 12.1%, none 4% (2007 est.). This data should be carefully evaluated for example, Jews and Muslims do not eat pork or pork derivatives also to take into consideration some schools of Buddhism are vegetarian therefore do not eat meat. Perhaps the most distinctive element of international marketing is considering the culture. Therefore Burger Fuel should definitely recognise the fact that the one of the key to a successful product is customised 12 | P a g e

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products for sale in overseas markets accordance to the destination market`s taste and culture. “Very few products are sold in exactly the same form in all markets and the reason for, and nature of, modifications will differ from one market to another” (Handbook of international trade). Hence, it is recommended that an additional `vegetarian burger` and/or `halal` menu might be offered. 2.1.3. Technological factors The US the world`s most advanced technological country. In this century, trends are fairly related to technological forces. For instance, social networking, frequent use of mobile phones, portable music players, and computers. Credit card and EFTPOS payment services should be provided to customers for their convenience. In addition, online (internet) order system should be considered as fast-food means `convenience` means to the majority of customers. Another fad that is becoming exceedingly popular is providing free Wi-Fi on location. McDonald`s offers this service in most of its stores in Australia and in the USA (“McDonald`s wireless connectivity”, n.d., ¶ 1). This is a bonus in attracting more customers, most notable university students and business people, who as a result of their busy lifestyle wish to assess the internet during their break. It is important to note that while offering all those mentioned, entertainment systems, Wi-Fi point’s e.t.c. because the premises size is limited, tables and seats should be slightly that they do not over-spend their time and place a limit the amount of customers. 2.1.4. Environment Environmental issues or problems are highly relevant to today`s society, as we become more aware of issues such as global warming, green house emission. Therefore environmental friendly packaging should be taken into account when considering packaging. The US has a strong environmental policy and legislative framework. However The US was unsuccessful to perform notably on various economic parameters with 4.6% of the world's 13 | P a g e

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population the US is responsible for almost 21% of global emissions of carbon-dioxide emission (Datamonitor, 2009). 2.2. Market Analysis Before going through the elements of market analysis, it is important to define the fast food market. “The fast food market is defined as the sale of food and drinks for immediate consumption either on the premises or in designated eating” (Market Research, 2009). 2.2.1. Consumer needs/Market size Fast food restaurants are one of the largest sectors of the food industry in the United States. Secondary data and surveys suggest that there is a demand in the market. For example, Hoover`s research presents that there are approximately 200.000 take-in or take-away restaurants and these stores are estimated to make $120 billion in sales (“Industry Overview: Fast Food and Quickservice Restaurants”, n.d., ¶ 1). In addition, American fast food market grew by 5.7% in 2008 to reach a value of $68.2billion (Datamonitor, 2009). Marking strategies should aim to perceive things from the point of view of their customers. This is even more important in the fast food sector as the strategies should be able to perceive things from the consumer’s perspective. This will help understand investors when targeting overseas countries and cultures to promote fast food, therefore it will help improving or modifying their service/product`s perceptions. All these factors will eventually result in creating or even boosting customer demand (Kara, Kaynak & Kucukemiroglu, 1995, p.17). 2.2.2. Market forecasts According to Datamonitor, which is a leading business information company specializing in industry analysis and serves world`s largest 5000 companies including McDonald`s states that in 2013, the US QSR (quick service restaurants) market is expected to have a value of almost $84 billion. This is 14 | P a g e

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a boost of 23.5% ever since 2008 (Datamonitor, 2009) The report also claims that In 2013, the United States fast food market is expected to have a volume of 39.2 billion transactions that is a rise of roughly 7% since 2008. These numbers along with other values stated above clearly predict that the market is still growing and in spite of the global economical crisis, it is in fact still expected to grow further. 2.2.3. Market characteristics Economies of scale and government control features may be the most significant `barrier elements’ in the fast food market in the US. Economies of scale are likely to be contestable for the fast food industry because fast food products require relatively inexpensive products such as vegetables and meat. Consequently, it might well be that a company can start as a small business and grow rapidly in comparison to automobile sector where a new entrant should produce more cars than General Motor produces as a market leader (Perry, n.d.). On the other hand for any business to succeed, location plays a vital part. Choosing the right location can determine if the business will succeed or fail. This is even more important when opening a fast food restaurant. However as we know what comes ‘hand-in-hand’ with a good location is a steep price. Moreover, licensing is another component to consider. In order to run a restaurant, it is compulsory to have a valid fast-food licensing in the United States. It should be noted that different states have different requirements to obtain the license (“Business licenses”, n.d). Other than these ‘barriers’, the US is based on a capitalist, competitive market that governments have no obvious control over pricing issues. This is true in most sectors unless there is a case of exceptional monopolistic issues such as Microsoft. Correspondingly, tariffs and similar types of protection are not applicable to the case considering the fast food market in the foreign market. Burger Fuel is still in growing phase of the product life cycle. Since 1995, it has 28 stores in worldwide. A new Dubai store opened in mid-2009. 15 | P a g e

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2.2.4. Buyers` behavior/target market One of the fast food survey states fast food consumer`s belong to the age group between 6-75 years old and the most frequent people who consume it is 35 years olds (Marsh, Fanning, Stiegert, 2003, pg.22). An older but a more specific journal article of Kara et al. discovers that the fast food consumers are usually those whose earnings fall between $20.000 – $40.000. Interestingly in the group of occupations, housewives and employed people are the most frequent consumers of fast-food (Kara et al, 1995, pg.18). Even if these two findings (articles) are not very up-to-date the information given are still relevant, as other articles which are more recent discovered similar findings. The reason behind these figures can be explained with fast food’s perception of ‘convenience’. According to Marsh and his associates work (Marsh, Fanning, Stiegert, 2003, pg.3) “Using aggregated fast food measures at the Metropolitan Statistical Area level, they suggested that growth in fast food consumption is related to an increasing supply of convenience. In other words, consumers have increased consumption of fast food because it provides the incentives to do so with respect to price, time, and taste.” In respect to the findings above it is recommended that BF`s marketing strategy should not only be based on the ‘freshness’ of ingredients therefore ‘uniqueness’ of the taste, but also ‘convenience’ of having a burger on the go or eat in. This is what the company’s target market seeks and desires from its fast-food outlet. For more data please see tables provided below. QRS segment leads the US fast food market, with 74% of the market's overall value and takeaways as the main activity report for additional 15.5% of the market's value. Second segmentation is by geographically; The States holds approximately 44% of the total fast food market's revenue worldwide, whereas Asia-Pacific accounts for a further 30.4% of the overall market's

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revenue (Datamonitor, 2009). Please see the related tables. Section 2.4. Competitor Analysis Due to the fact that the fast food market is relatively profitable because the products and ingredients used are comparatively inexpensive. The market also maintains the constant trend to continue to grow, and demand is satisfactory, on the other hand there are big worldwide companies to compete with. Big companies take a large scope of product differentiation from chicken to Italian salad and even seafood such as fried calamari. It must also be noted that companies like, McDonald’s and Burger King have a large share of the market and thus have the buying power to advertise in prime-time TV slots and also large billboards. These companies target customer loyalty and invest on brand-building by using advertisements and also the uniform visual style of their stores (Datamonitor, 2008). Loyalty is also achieved by attributes such as rewards. For instance, McDonald’s and Burger King offer free children toys or similar kinds of gifts. McDonald's first started its famous children toys in 1977 with every Happy Meal purchase (“McDonalds Toys & Fast Food Premiums”, n.d, ¶1). In regards to predominantly burger orientated companies, there are three main market leaders these include the following McDonald’s, Burger King and Wendy’s (Hoover, “Industry Overview: Fast Food and Quickservice Restaurants”, n.d., ¶ 1). 2.4.1. McDonald`s According to Datamonitor’s McDonald’s report for 2009, company’s revenue was $23,522 million in last year and this is an increase of 3.2% compared to 2007. The company's net income totalled $4,313 million in the fiscal year 2008. The company has 31,900 restaurants and of those more than 6,500 are managed by the company and nearly 25,400 are operated by franchisees

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and associates. McDonald's restaurants have a standard menu that include hamburgers, cheeseburgers, chicken sandwiches, French fries, salads, milk shakes, sweets and ice creams (Datamonitor, 2008). Some of its outlets offer further food items to go with country’s taste. For example in Australia and New Zealand, the company also offers Italian salad. Moreover, the restaurants offer a range of additional products for limited-time promotions such as children toys and special children menus or things such as free zoo passes. According to the franchise arrangement, “The franchisees invest in the equipment, signage, seating and decor, while the company owns or secures long-term leases” (McDonald's Corporation info”, n.d). “The company and its franchisees as well as affiliates source purchase food, packaging, equipment and other goods from approved suppliers” (Datamonitor, 2009). 2.4.2. Burger King Burger King is the world’s second largest fast-food chain after McDonald’s. Burger King’s annual report (2008 Annual report, 2008) states that the company’s revenue rose 10 percent to a record high of $2.46 billion and profits increased 24 percent and restaurants grew by a net unit count of over 280. The company has 11,585 outlets around the world. The company offers a similar menu to its biggest competitor (McDonald’s). Also, Burger King follows McDonald’s special price promotions as a market follower. Near 90 percent of all its stores are operated by franchisees. Burger King’s most famous signature burger is Whopper that was first introduced in 1957 (2008 Annual report, 2008). These burgers are claimed to be `flame grilled` even though different breads, sizes and ingredients are offered in some countries to meet the local demand of taste such as Whopper Pepper in Sweden. On the other hand, the company has high standard of hygiene, food handling

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and overall product quality like McDonald`s. It also leans towards `brandbuilding` through ads, promotions and rewards.

2.4.3. Wendy`s “Wendy's International Inc generated revenues of $1,822.8 million in the financial year ended December 2008, a decrease of 25.6% compared to the previous year” (Datamonitor, “Food-service profile”, 2008). The company reported a net loss of $413.6 million in fiscal 2008. The company operated 6,645 Wendy's restaurants in the US and 19 other countries and territories. Of these restaurants, 1,414 are company operated and 5,231 by the company's franchisees (Datamonitor, 2009). The New Bakery Co., is an entirely owned subsidiary and it supplies buns to the Wendy's restaurants in the US. Unlike its bigger competitors, Wendy`s sells sandwich buns. This can be considered as a product differentiation strategy and an important product specialisation. The company also offers promotion and awards such as ‘kids' meal toys’. 2.4.4. Red Robin`s Gourmet Burgers Red Robin is possibly the closest competitor regarding to what BF offers: gourmet burgers. Red Robin’s has 36,000 employees across North America and as of December 2008, the firm 423 restaurants in 40 states in the US and Canada, 294 of them are company owned, and 129 were run under franchise agreements (“Red Robin Gourmet Burgers, Inc.”, n.d, ¶ 1). The beef used in burgers is 100% top quality, fresh, not frozen also grain-fed beef that even exceeds USDA standards. All Red Robin`s burgers do not contain preservatives, additives and artificial components. Lastly, Red Robin uses a special cold-chain supervision system in their beef supply (Red Robin`s, 2009). 19 | P a g e

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In addition to being available in their restaurants, a range of wheat and gluten free menu is offered on line. The company also uses technology and new-trends efficiently. For example, the company called in Facebook, the famous social photo sharing website to favor 1,500 fans (York, 2008, pg.20). Red Robin earned $869,215,000 in 2009 (Year Ending Jan 2009) (Datamonitor, 2009). 2.4.5. Industry profitability from the view of Porter`s Five Forces Porter`s five forces determine the competition greatness and for that reason it also determines ‘magnetism’ of a market. These five forces are as follows (Fletcher, Brown, 2006, pg. 355)

1. The threat of substitute products 2. The threat of the entry of new competitors 3. The intensity of competitive rivalry 4. The bargaining power of customers 5. The bargaining power of suppliers Particular segments of the market can be focused on. Furthermore, entry to the market does not need large capital that is setting up a sole, independent store is within the means of many individuals. For that reason, it is quite possible to expect new entrants to the market. “Buyer power within the fast food market is weakened by the fact that, while not everyone enjoys fast food, it is nevertheless highly popular with large numbers of individual US consumer. Suppliers may have customers in the cost foodservice sector, or other segments of the profit food service sector. This decreases their dependence on fast food companies, strengthening supplier power” Datamonitor (2008). Moreover, entry to the US fast food market does not require large capital; setting up an independent fast food outlet is possible for individuals in the US. 2.5. Company analysis 20 | P a g e

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Currently, Burger Fuel offers Spud (fries), beer battered fries (this is offered as a promotion, might be limited-time only), Kumara (fries), wraps, burgers (beef, chicken, fish, gluten-free, vegan and vegetarian), soft drinks, malt shakes and its signature ice cream(“Menus”, n.d). Burgers of BF are wellknown for their big size, BF`s unique Aioli sauce. Company has also a patented product called 'Doofer' which is a folding cardboard that simply holds burgers. Burger Fuel`s another famous claim is their extraordinary freshness due to the use of best quality ingredients. Burger Fuel is a gourmet burger chain and the company`s focus is placed on many `new-trends` such as vegetarian food, gluten-free as well as Organic food products. In addition, BF`S burgers take their names from an automotive theme. Company also focuses on entertainment. They don`t only offer newgeneration highly trendy music with a high-tech sound systems but they also offer big LCD screens to screen MTV music channel, Rugby League, NFL and such. The profitability of an industry, low- entry barriers, non-government controls and bargaining power might be favourable and attractive reasons when considering entering a foreign market. However, these indicators might be `fooling` or inadequate to merely consider them as they are. A better indication of the market will be found within the company analysis. Company analysis should indicate clear and true information; otherwise planning is likely to be inaccurate and misleading. For example, the elements mentioned above may all be favourable to the company in the foreign market. Yet if the company’s assets, financial statement, cost structures, marketing skills, relationship suppliers and human resources are not good enough to meet the needs of the foreign investment, then the company should critically ask some important questions. These questions should involve more research, focused on market research when necessary and of

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course can even choose not to enter the market after a conclusion has been reached from the information. In regards to obtain company information, one of the most reliable sources of data is companies’ annual reports. Nonetheless, please note that some of the important data might be held within the organisation. According to BF`S 2008 annual report, the company reported a $710,282 loss for the year ended 31 March 2009. This loss is a negative to the company however it does not mean that all present and future plans should be forgotten. The company should still be able look into possible profitable future markets, to re-gain its losses. Corporate Governance Corporate governance involves the rules the company follows. It may also include the governing structure, in our case this is consist of a board. According to the BF`S 2009 Annual Report. The Board of Directors is responsible for the corporate governance of the Group. `Corporate Governance` involves the direction and control of the business. The Board is elected by the Shareholders of the company. The Board: • Establishes the objectives of Burger Fuel Worldwide Limited and • Administers risk management. It should be noted that since Burger Fuel is not a big multi-national company or famous enough worldwide yet, there is not enough information about company`s assets, media relationship(except some news about the company on newspaper and magazines). However, one should view the company`s income statement (see table 5). 2.6. Implication of situation analysis Having identified the important and crucial elements when considering to 22 | P a g e

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enter a foreign market, what is as important is to study the situation and suggest. The US fast-food market shows growth that makes the market attractive along with insignificant government controls and low entrance barriers. Moreover, economies scale is debatable for the industry as the industry does not require significantly costly equipment and tools for the products. Besides, the global economic turndown has negatively affected in generally property prices and especially in house and office prices. Therefore, this is another advantage that BF may face new competitor in the foreign market. In regards to the company, Burger Fuel (BF) claims to taste different than regular burgers due to its all fresh ingredients. Burger Fuel`s burgers can be referred as `home made burgers` or even `boutique burgers`. Therefore, this unique taste and ingredients can help BF grow rapidly in the US market whereas regular burgers of McDonald`s and Burger King can be considered as dull, fatty and `just a burger`. Thus, unless similar company(ies) enter into the market, it is thought to be `safe`. Moreover, all relative economic indicators clearly show the target market is forecasted to grow even more in the future. Section 3. SWOT analysis Strengths The strengths of the company lie the following things: wide product range and humourous approach to attract new generation customers. a. Wide product range Presently, Burger Fuel does not only offer beef burgers but also offers Spud (fries), beer battered fries, Kumara (fries), wraps, burgers (beef, chicken, fish, gluten-free, vegan and vegetarian), all kinds of soft drinks, malt shakes and its signature ice cream. These products might be offered by big competitors such as Burger King, however Burger Fuel`s products are all gourmet, that is the main difference. Consumers will taste and notice the difference due to the fresh ingredients used including the beef and chicken. 23 | P a g e

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Company`s it`s own famous signature ice-cream also helps gain competitive edge. b. Humourous approach to attract new generation customers (Strong positioning) Burger Fuel product names are derived from automotive subjects such as `low carbo-rator wrap`, Hamburgini and `Ford freak-out`. Also cashier workers` names are designed to be funny therefore entertainment. Names such as `Smurf`, `Mr.Smith` and `Obama`. These attributes gives the company its strong culture. Hence, helping to attract more of `trendy` and `in crowd` people. c. Innovative Weaknesses Even though the company operates in 3 countries, its operations are heavily concentrated in New Zealand which is local orientated. This is a short come of the business in its aims where the market concentration will be lacking in the US. In order to overcome this pitfall, the company should always try to keep up with its main competitors, especially Red Robin If it wishes to succeed in the US. Red Robin has 423 stores in the US and some in Canada. Thus, it can concentrate more on its main market, the US. Also, Burger Fuel has reported almost $700.00 loss in the 2009 fiscal. Even if this is due to the company`s current expansion to the Middle-East, it can be said that the company has limited financial power. Unfortunately, this may lead to a poor connections and knowledge of the US market, because `knowing the foreign market` will need a deep market research and this eventually requires big amount of money. Thus, much of the research may come from external assistance such as New Zealand Trade Commission. Opportunities 24 | P a g e

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Positive outlook for restaurant industry in the US and new products development are the main opportunities for the company. Firstly, to compete with Red Robin, BF should consider introducing religious/cultural conscious food such as halal/kosher and vegetarian as discussed in situation analysis. These new product developments will widen the customer range therefore helps the company gain an advantage and bargaining power. Secondly, market forecast in the US as mentioned earlier shows a positive outlook. This is an important opportunity for small chain companies like Burger Fuel to develop economies of scale. Also, once entered into the US market there is an opportunity for further franchising throughout the US and possibly other countries thereafter. Threats Price might be the biggest threat for future plans hence it leads to an intense competition. McDonald`s and Burger King may decrease their price for promotions for a limited time which they carry out time to time. That is a threat and even if BF`s products are more `boutique` compared to those big companies, consumers may still choose these cheaper alternative. Therefore the BF should keep focusing on its gourmet burgers to specialise its product range otherwise it is very likely to not able to compete its big competitors. Another important threat is swine flu. Although H1N1 (Swine) flu is not caused by eating pork or pork products, American people may not all be aware of this fact therefore people might be afraid of buying fast food products which contain pork products. For that reason, clear and informative announcements are to make to customers that all meat and poultry products are safe to eat when properly prepared and cooked. 3.2 Implications of SWOT analysis SWOT analysis is vital to companies that wish to enter or consider foreign 25 | P a g e

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markets. Despite the fact that Burger Fuel is relatively small company compared to its competitors, it still possesses unique brand culture and a strong market positioning. These traits will help the company gain competitive advantage. It is suggested that the company should improve its market research capabilities as it is thought that since BF is a medium-sized company that mainly operates in New Zealand, it needs to have a deeper understanding of the market research. Or else, it appears that BF can compete well enough due to its strengths. However, it would be better off for the company to not open many chains in the US in the beginning so that it can develop economies of scales quicker if it selects its stores location strategically where its main competitors have no or less domination.

PART B SECTION 4. Objectives 4.1. Mission Statement Burger Fuel is a medium-sized company that mainly operates in New Zealand. The company needs to have a deeper understanding of international markets, as it is not very experienced in foreign markets. Even though the company has 2 stores in Australia, it can be said that these two countries have much in common, therefore culture and taste is similar. However the US market is significantly different. For example, Americans value service more than product (Fletcher& Brown, 2008, pg.324) and the US is comparatively service-orientated country. These facts should be always kept in mind in relation to the company`s mission statement. Burger Fuel`s mission is while providing healthy, high-quality gourmet burgers with fresh ingredients in a funny, humourous and friendly environment to its customers and offering a friendly, hygienic, `fun to work` working conditions to its employees.

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4.1.2. Corporate objectives As stated in the company analysis, The Board establishes the objectives of Burger Fuel. It approves major strategies for achieving these objectives. Company`s corporate objectives should relate to the company weaknesses such as having reported a loss due to the company`s international expansion in Dubai. Some of the important objectives to be achieved by the BF in the next three years include: 1) Ongoing trading in two stores in Australia for a future profitable expansion. 2) Continuing growth of the total sales in New Zealand via increasing sales along with an increasing local stores quantity. 3) Successful development of the US market as this will lead to a development in other international markets. 4.2. Marketing objectives It is necessary for a company to have SMART marketing objectives if it wishes to succeed. This will help companies to set realistic strategic business objectives in future as well, as this will ease the company`s performance appraisals (Stone, 2006, pg.317). Burger Fuel`s SMART marketing objectives can be as follows: 1. Achieving market share of the US market of 0.5% at end of year 1, 1% at end of year 2 and 2.5% at the end of year 3. Due to the possibility of fast development in the market as a result of economies of scales, a geometric growth rate might be possible. 2. Achieving brand awareness in the US market of 1.5% at the end of year 2.5% at the end of year 2 and 10% at the end of year 3.

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SECTION 5. Marketing strategies 5.1. Country market selection One study states that in 2013, the US QSR (quick service restaurants) market is expected to have a value of almost $84 billion. This is a boost of 23.5% ever since 2008 (Datamonitor, 2009) The report also claims that In 2013, the United States fast food market is expected to have a volume of 39.2 billion transactions that is a rise of roughly 7% since 2008. These numbers along with other values stated above clearly predict that the market is still growing and in spite of the global economical crisis, it is in fact still expected to grow further. Moreover, the US is basically service-orientated country as mentioned earlier. Burger Fuel can take some benefits out of this phenomenon, because the company has already a positioning strategy that meets the country`s business approach. Also, once entered into the US market there is an opportunity for further franchising throughout the US and possibly other countries thereafter. 5.2. Market entry mode Market entry mode is perhaps the most distinctive element of international marketing. There are three main entry modes, they are: export-based, manufacturing-based, and relationship-based entry. Please note that it is very costly and risky for a company to change its entry mode from one to another. This is even more so for companies like BF that have already incurred financial loss. Hence BF may not afford `adventure` or else it will be very costly to the firm. 5.2.1. Export based entry Exporting is the most common way of trade within overseas market and it is established form of operating in foreign markets. Exporting may not need as much intense marketing strategies as manufacturing based entry. This can be an advantage for limited budgeted companies. The advantages of 28 | P a g e

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exporting are: manufacturing is home based therefore, it is less risky than overseas based; it gives an opportunity to ‘study’ overseas markets before investing and reduces the possible threats of operating overseas. Alternatively, another element of indirect exporting can be considered. However, the main disadvantage for BF is this method involves a greater commitment of resources therefore enables the firm have more control over the circumstances. BF, as stated above has limited budget and it is questionable whether the company can afford this method. On the other hand, franchising as another option within licensing is the most suitable element for the company. Licensing is where Burger Fuel organisation charges a fee or royalty for the use of its technology, brand and/or expertise (“Modes of entry”, n.d, ¶ 6 ). With Franchising, Burger Fuel need to provide branding concepts, expertise, and in deed most facets that are needed to operate in an overseas market, to the franchisee. It is not a surprise that all big fast food companies use franchising intensively. 5.2.2. Manufacturing based entry This mode has three elements namely: joint venture, acquisition and Greenfield operation. Joint ventures involve establishing a firm that is jointly owned by two or more independent firms. The main advantage of joint venture is Burger Fuel can benefits from its local partners’ knowledge of local culture, legal, political practices in the target country. The disadvantage is the risk of providing technological ‘know-how’ to future competitor. However, this is not very relevant to our case or has little effect. Secondly, acquisition involves entering an overseas market by acquiring an existing company; however this often leads negative results (Fletcher & brown, 2008, pg.293). 29 | P a g e

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“In a study done by Mercer of 150 acquisitions between 1990 and 1995 worth $500m or more only 17% were judged to be successful” (Attree, 2009, pg.81). Lastly, Greenfield operation occurs when a company builds its own manufacturing plan in the target country (Fletcher & Brown, 2008, pg.294). This is again very costly to BF, as company almost preferred licensing during its history because of its effectiveness. This method cannot be efficient for the company especially in the US where the company does not know a lot about the country, as a new entrant. 5.2.3. Relationship based entry This mode of entry is used as it is in the creation of relationship more than other forms of interaction. This entry mode has four main components, namely: contract manufacturing, off-shoring, strategic alliances and countertrade. The most significant and relevant element to discuss is strategic alliances. This term is occasionally used in a wider perspective as a market entry strategy; however it refers to partnership between companies in different countries to share some value-creating actions. The major aspect of strategic alliance is that firms from strategic alliances in order to minimize their costs and the gain organisational learning (specific knowledge can be transferred by licensing). 5.3. Generic marketing strategies Porter suggests three basic competitive marketing strategies for companies to follow. These are: 1. Overall cost leadership: This strategy suggests to achieve the lowest cost of production with the intention that the company can decrease its prices. Thus, can gain a higher market share. This strategy might be very strategic however, as a new entrant and a market follower therefore price taker, Burger Fuel cannot afford to implement this plan due 30 | P a g e

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to its limited financial budget. As stated earlier, the company reported nearly $700.000 as a result of its expansion in overseas (Australia and Dubai). 2. Differentiation: Here the company focuses on creating a vastly differentiated product line. This is the most suited strategy for Burger Fuel. Since the company already offers gourmet burgers as well as its signature ice-cream the company has the potential to develop its products and thus specialise in its product line with more differentiated products. 3. Focus: This strategy suggests the company to concentrate its efforts on serving a few market segments rather than `chasing after` the entire market (Fletcher &Brown, 2008, pg.364-365). This could also serve as a valid plan of action due to the smaller business nature of the company, it could place a focus on the gluten free/vegan section of the market.

5.4. Target market selection The company primary target segment demography is the age group between 16 - 35. The reason is not only this segment is the most frequent fast-food consumer, as previous data showed but also this target group is relatively young and likely to follow new trends, enjoy entertainment and fun environment that Burger Fuel offers. 5.5. Marketing positioning Positioning is the way the products attributes are perceived by consumers (and can be done in the sense of product attributes or even against a competitor (Fletcher & Brown, 200, pg.328). In order to have a successful positioning, company`s should be `well-known` by any or some of its special attributes. For example, IKEA the Swedish furniture company is positioned as a design orientated, low priced furniture. Similar to this, Burger Fuel should be known by its exceptional service and atmosphere and even their innovative products such as `Doofer`, the cardboard burger folder. Even 31 | P a g e

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though the company offers gourmet burgers which is not very common in the US, BF`S market competitor Red Robin also offers the same product line. For that reason the stress may be made on the company`s `ultimate fun environment` (funny cashier names, products` automotive theme names and such) as well as its unique innovations. 5.6. Marketing mix Marketing mix, as the foundation of marketing strategies needs to be realistic and achievable (Kotler, Armstrong, Denize & Adam 2009, pg.369). Different marketing mixes may be the key to the success. It is vital that positioning strategies situation analysis perhaps has the most important role when considering the marketing mix. 5.6.1. Product/service The product range should include the regular menu that is offered in New Zealand and Australia as well as `customised` products such as halal/kosher beef offer, American style (often regarded as McDonald`s style) fries. Moreover, BF`s its own signature ice-cream `Frost-bite` should be also offered as this product helps the company gain competitive advantage. In addition, local taste should be taken into consideration. It is important to note that Americans use the word `ketchup` instead of tomato sauce, so this adjustment in the menus will be a good idea. BF uses 100% bio-degradable (green) packaging. The same manner should be continued due to an `environmental friendly` company profile. In regards to the augmented product level, one can offer a promised delivery time such as Pizza Hut. That is if the food failed to deliver in a specific time, next time delivery is free. This would possibly reinforce the expectation from the `actual product`. Application of things listed above will also help enforce the ‘good service’ that the US market runs on, and will also as a result build customer loyalty. 5.6.2. Place 32 | P a g e

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For any business to succeed, location plays a vital part. Choosing the right location can determine if the business will succeed or fail. This is even more important when opening a fast food restaurant. Some big retail outlets should be considered as well as the company`s own special locations. However, it would be better off for the company to not open many chains in the US in the beginning so that it can develop economies of scales quicker if it selects its stores location strategically where its main competitors have no or less domination. The company will use direct selling as its sale channel to its customers. In addition to that, it would be beneficial for the company to have an `online-ordering` service over the internet to do home or office delivery. 5.6.3. Price Burgers at BF are gourmet, they are special and unique. Therefore the company`s price cannot actually match its biggest competitors such as McDonald`s or Burger King. Also economies of scale is to be considered. However, with a strong and solid market positioning, consumers will understand/realize Burger Fuel`s products deserves every cent they spend on. On the other hand irrational and extreme pricing is likely to fail because the company is new in the foreign market and a fair level of brand awareness should be achieved prior to increase (!) or adjust the prices. Thus, as a new entrant and a market follower the company will be price-taker.

5.6.4. Promotion Promotion is highly important for every business. It is a very good chance to create brand awareness (Quester, Neal, Pettigrew, Grimmer, Davis & Hawkins 2007, pg.608). Attending relevant trade functions, advertising in target market`s interested media elements and advertisement leaflets distribution may be beneficial. However, promotion is not merely advertising (Attree, 2009, topic 12.). For a gourmet burger food outlet, the best 33 | P a g e

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promotion might be `promoting company`s service`. BF`s humourous and fun approach to its consumers would be a good way to promote brand awareness via mouth-to-mouth. Please note that McDonald`s and Burger King`s toy give away with every child meal does not need to be considered because Burger Fuel`s target consumers are mostly adult group. SECTION 6. Economic (Financial) evaluation 6.1. Planning assumptions 1. There will not be any fundamental technological change in the next three years. 2. Employees can be trained in the USA within three months 3. The US market growth rate will be positive and continue to grow as the past four years. 4. The foreign market`s economic condition will be more or less similar to the past two years. 5. Australian and Dubai stores will continue to operate. 6.2. Forecast sales and costs 1. Market share is forecasted to be low in the first year due to the company`s new entrance to the market and brand awareness. 2. Because of employee training requirements in the USA, total costs are forecasted to be higher than the previous years. 3. Second year`s profit is forecasted to be twice as the first year`s as a result of forecasted brand awareness in the second year and market share growth.

6.3. Break-even analysis (Forecast profitability) “Given the global and local economic situation, a key focus has been on reducing costs to ensure that the group can preserve cash and mitigate 34 | P a g e

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losses while striving to reach profitability within the Group (Burger Fuel Worldwide). In the last six months to 31 March 2009 the Group was close to breaking even. Costs will continue to be managed in accordance with board policy, however further losses are expected in the 6 months to 30 September 2009, due to the requirement to support international markets and also continue to expand New Zealand” (“Burger Fuel 2009 Annual report”, n.d.). 6.4. Sensitivity analysis Factors affecting profit sensitivity are supply delays, partner loss and of course economic conditions. Due to the current global downturn, lets assume the US economy shrinks further. Therefore the company`s activities will primarily be effected to the financial risks of changes in foreign currency exchange rates and interest rates. There has been significant change to Burger Fuel’s exposure to market risks or the manner in which it manages and measures the risk, other than the opening of a USD account in April 2009 for the receipt of USD royalties and franchise fees expected for the Middle East. SECTION 7. Implementation and control 7.1. Action plan for implementation In this part of the plan, questions such as ‘What will be done?’ and ‘When will it done?’ Should be asked (Fletcher& Brown, 2008, pg.333). On the other hand, budget action plan is also highly important. The board will evaluate the budget and the marketing strategies and it may want to set clear objectives. Burger Fuel`s current economic situation would not afford to enter the US market this year. However, the company is in growing phase as its new Dubai store is expected bring the company profit in the long run as well as Australian stores. For example, Burger Fuel Australia (unaudited) system sales for the period 1 April 2008 to 31 March 2009 were up 47% to $2,141,645 (reported in NZ$) according to the company`s 2009 annual report. 35 | P a g e

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In the light of data stated above, it is suggested that the company should enter the profitable US market by the end of 2010 (opening a store close to New year may help achieve brand awareness!). However, a deeper, current and comprehensive market research should certainly be made. Moreover, to be successful in the new markets as well as locally, BF`s marketing strategies should unquestionably match with the company`s core values and objectives. 7.2. Monitoring of action plan Monitoring of action plan is as important as implementing it. Plan implementation should be taken seriously. Plans should also be appraised within a fair frequency. If any of the implementation of marketing plan fails marketing plan control should take corrective action. In this century, competition is aggressive and markets do not show mercy to plans that are done one off and expected to work under any conditions. Conversely, marketing plans may fail in short or long run. In order to continue to exist monitoring the plan may avoid such failures.

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TABLES AND GRAPHS

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Figure is taken from Bayesian estimation and socioeconomic determinants of fast food consumption pg.22

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REFERENCES Attree, K. (2009). International marketing study guide. Retrieved from Charles Sturt University`s student portal. Burger Fuel (n.d.). Retrieved October 25, 2009, from http://www.lovemarks.com/nomination/1003 Burger Fuel Worldwide Ltd, (n.d.). Retrieved October 26, 2009, from http://www.corporateinformation.com/Company-Snapshot.aspx? cusip=C554MHR10 Burger Fuel 2009 Annual report (2009). Retrieved October 22, 2009, from http://www.burgerfuel.com/investorinfo/pdf/BFW_Annual_Report_2009.pdf

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CIA (n.d.). The World Factbook: USA. Retrieved October 22, 2009 from https://www.cia.gov/library/publications/the-world-factbook/geos/us.html Datamonitor, (2008). Burger King Corporation. Retrieved October 22, 2009, from http://web.ebscohost.com.ezproxy.csu.edu.au/ehost/detail? vid=3&hid=13&sid=6fb7df7a-4540-4c3c-974eb10bc1af0c31%40sessionmgr4&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d Datamonitor, (2008).Profit Foodservice in the United States. Retrieved October 22, 2009, from http://web.ebscohost.com.ezproxy.csu.edu.au/ehost/results? vid=4&hid=13&sid=6fb7df7a-4540-4c3c-974e b10bc1af0c31%40sessionmgr4&bquery= %28Profit+Foodservice+in+the+United+States %29&bdata=JmRiPWJ0aCZ0eXBlPTEmc2l0ZT1laG9zdC1saXZl Datamonitor, (2009). US Pestle analysis. Retrieved from http://web.ebscohost.com.ezproxy.csu.edu.au/ehost/detail? vid=9&hid=13&sid=6fb7df7a-4540-4c3c-974eb10bc1af0c31%40sessionmgr4&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d %3d#db=bth&AN=36428263 Fast food restaurants (QSR) (n.d.). Retrieved October 25, 2009, from http://www.wikinvest.com/industry/Fast_Food_Restaurants_%28QSR%29 Fletcher, R., & Brown, L. (2006). International marketing (2nd ed.) Australia: Pearson. Fletcher, R., &Brown, L. (2008). International marketing : An Asia perspective (4th ed.). Australia:Pearson Hoover's Fast Food and Quickservice Restaurant Report. (n.d.). Retrieved October 19, 2009, from http://www.hoovers.com/fast-food-and-quickservicerestaurants/--ID__269--/free-ind-fr-profile-basic.xhtml

Kara, A., Kaynak, E., & Kucukemiroglu, O. (1995). Marketing strategies for fast-foodrestaurants: a customer view. International Journal of Contemporary Hospitality Management, Vol. 7(4)1995, pp. 16-22, MCB University Press Limited, 0959-6119

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Kotler A., Armstrong D., Denize S., & Adam, S. (2009). Principles of marketing (4th ed.). Australia: Pearson Marsh, L., T., Fanning, J., & Stiegert, K. (2003). Bayesian estimation and socioeconomic determinants of fast food consumption. 2003 Biennial Research Conference of the Food Systems Research Group University of Wisconsin. Retrieved from http://web.ebscohost.com.ezproxy.csu.edu.au/ehost/resultsadvanced? vid=7&hid=13&sid=6fb7df7a-4540-4c3c-974eb10bc1af0c31%40sessionmgr4&bquery= %28BAYESIAN+ESTIMATION+AND+SOCIOECONOMIC+DETERMINANTS+OF+ FAST+FOOD+CONSUMPTION %29&bdata=JmRiPWJ0aCZ0eXBlPTEmc2l0ZT1laG9zdC1saXZl McDonalds Toys & Fast Food Premiums, (n.d). Retrieved October 26, 2009, from http://www.worldcollectorsnet.com/mcdonalds/index.html McDonald`s 2008 Annual report (2009). Retrieved October 25, 2009, from http://www.aboutmcdonalds.com/etc/medialib/aboutMcDonalds/investor_rela tions.Par.70378.File.dat/2Q%202009%20Risk%20Factors%20and %20Cautionary%20Statement%20Regarding%20Forward.pdf Perry, N. (n.d.). Barriers to entry. Retrieved from http://www.amosweb.com/cgi-bin/awb_nav.pl? s=wpd&c=dsp&k=barriers+to+entry Quester P., Neal, C., Pettigrew, S., Grimmer, M., Davis, T., & Hawkins, D.I. (2007). Consumer behaviour : Implications for marketing strategy (5th ed.). Australia: McGraw-Hill Red Robin Gourmet Burgers, Inc., Competitive Benchmarking Report (2009). Retrieved October 25, 2009, from http://www.researchandmarkets.com/reports/482486/red_robin_gourmet_bur gers_inc_competitive Shanthy A., Bowman & Bryan, T. (2004). Fast Food Consumption of U.S. Adults: Impact on Energy and Nutrient Intakes and Overweight Status. Journal of the American College of Nutrition, Vol. 23(2), 163-168. Retrieved from http://www.jacn.org/cgi/content/full/23/2/163? 43 | P a g e

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maxtoshow=&HITS=10&hits=10&RESULTFORMAT=&andorexacttitle=and&a ndorexacttitleabs=and&fulltext=fast+food&andorexactfulltext=and&searchi d=1&FIRSTINDEX=0&sortspec=relevance&fdate=//&resourcetype=HWCIT Stone, R.J. (2006). Managing human resources. (2nd ed.). Australia: Wiley The Boston Globe (n.d.). Surging costs of groceries hit home. Retrieved October 19, 2009, from http://www.boston.com/business/personalfinance/articles/2008/03/09/surging _costs_of_groceries_hit_home/ Tigert D., J., Lathrope R., & Bleen, M. (1971). The fast food franchise: The psychographic segmentation analysis. Journal of retailing, 42(1), 81-91. Retrieved from http://web.ebscohost.com.ezproxy.csu.edu.au/ehost/detail? vid=7&hid=13&sid=6fb7df7a-4540-4c3c-974eb10bc1af0c31%40sessionmgr4&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d %3d#db=bth&AN=4673094 York, E., B. (2009). Advertising Age .80(32), p20-20. Retrieved from http://adage.coverleaf.com/advertisingage/20090928?pg=22#pg22

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