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Fast Food Industry in Korea

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Words: 1040 |

Pages: 2|

6 min read

Published: Jul 15, 2020

Words: 1040|Pages: 2|6 min read

Published: Jul 15, 2020

In our contemporary society, the quantity of international and local fast food eateries has expanded in Korea which can be due to a difference in culture, financial status and way of life. The rate in this area has expanded consistently, with 12% of center school students acquiring cheap food three times or progressively seven days in 2013, contrasted and 11. 2% of every 2010. Nowadays most of the people choose that kind of restaurant, partly because it is more convenient and faster. This is especially noticeable in urban cities.

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The hamburger that was considered as a cheap and bad for health food, started turning into better option with more healthy ingredients in Korea. Now, many fast food companies is are fighting with that first impression of fast food that was badly presented in the beginning of that industry. The South Korea foodservice market is dominated by the fast food operators who are actively launching set-meal menus at competitive prices and constantly offer diverse promotional discounts in throughout the year. The market for full service restaurants in South Korea is declining due to rise in inflation and economic downturn in South Korea as consumers are not willing to spend more on dine-out restaurants.

As of 2017, independent foodservice restaurants grew in terms of value sales, transactions and outlet numbers whereas, chained foodservice showed a better performance. As chain restaurants in South Korea are operated by large global brand owners, they are likely to have a higher number of resources to adapt to the latest technologies and environment in South Korea. The South Korea foodservice market is highly influenced by the westernization and there is rise in demand for burger serving restaurants. This makes chained foodservice to gain more market growth rate during the forecast period. Fast food recorded solid current esteem development in 2017. Because of the expanding number of single-individual family units in South Korea, there is developing interest for straightforward suppers, for example, fast food or 100% home conveyance/takeaway. The fast food eatery is one ordinary type of the worldwide eatery business. As Korea isn't excellent in this stream, as Korean drive-thru food industry has developed quickly since the 1988 Seoul Olympic Games. There are currently 1500 junk food eateries in Korea. This examination researched the connections between shopper benefits of eating-out and the significance of cheap food eatery properties in Korea. Utilizing a poll, 279 cheap food eatery benefactors were reviewed. The outcomes demonstrated that buyer benefits of eating-out separated into two components; hedonic and utilitarian. The hedonic benefit of eating-out had positive connection with temperament, fast administration, neatness, sustenance taste, worker graciousness, and offices, the utilitarian esteem focused on sensible value, speedy administration, and limited time motivators. Likewise, the hedonic esteem more impacted purchasing recurrence than the utilitarian. This examination presents experimental proof demonstrating that Korean buyers pick cheap food eateries more by hedonic, not utilitarian, benefits of eating-out. Thusly, fast food eatery advertisers in Korea ought to think about hedonic angles as the most critical factors in drawing in clients. Constraints and further research issues are recommended.

The consuming fast food products in Korea have experienced a fast increment in the course of the last ten to fifteen years. The point of this examination was to decide the recurrence with which South Koreans expend seven basic Western-style drive-thru food items and five normal Korean-style junk food items, and to discover the financial gathering most in charge of the expansion in drive-thru food utilization. Information were gathered on the dietary examples and financial foundations of 1, 745 subjects between the ages of 12 and 64 years in urban and country zones of Korea. This examination demonstrated that the junk food items researched were expended predominantly by Koreans younger than 30, single, female, occupants of Seoul, and either by and by understudies or youthful grown-ups with just grade school training. Nonetheless, the outcomes demonstrated that the utilization of most drive-thru food items was appropriated among all pay levels. Mom's Touch For our marketing project, we decided to choose exactly Mom's Touch chain restaurants. Partly because Mom's Touch, is a chicken burger chain that based in South Korea. As of 2015, the chain had over 650 retail stores in South Korea. The company's name comes from the thought that their food is made the same way a mother would make for her family.

Chicken burgers, chicken wings and hamburgers are the basic products of Mom’s touch. The reason why this fast food chain is so popular among Koreans is that, they offer Korean version of typical burger. Products like bulgogi burger and spicy bulgogi burgers are Korean market oriented. Mother's Touch publicizing had predominately depended on comedic TV ads. One business demonstrates the little measure of nourishment given by different organizations at that point proceeds to indicate how much greater Mom's Touch divide sizes are. Mother's Touch is the main Korean burger brand to bounce into the US showcase. Korean cheeseburger and chicken brand Mom's Touch has made advances into the US, the country of burgers. The brand declared that it opened its first North American branch in Concord, California on Jan. 1. The contiguous zone is stuffed with eateries, however Mom's Touch is the first to serve burgers on the fundamental menu.

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At around 130 square meters, the eatery can house around 40 clients. It has an outside porch to suit the warm Californian climate. It additionally gives tweaked sauces to meticulous eaters. Mother's Touch has stretched out achievement abroad to three nations - Taiwan, Vietnam and the US. There are five eateries effectively running in Taiwan, and a second branch is prospected to open this year in Vietnam. Mother's Touch that opened its first store in Korea in 2001 opened its 1, 000th nearby store in December 2016. It as of now runs five stores in Taiwan and plans to open the second store in Vietnam this year. An authority from Mom's Touch said that its entrance into the American market is important as it is the main Korean indigenous burger brand to take advantage of the market. The organization will keep on endeavoring to extend its abroad business. They are hoping to get overall recognition in the worldwide market, going past achievement in the local market.

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Fast Food Industry In Korea. (2020, July 14). GradesFixer. Retrieved June 23, 2024, from https://gradesfixer.com/free-essay-examples/fast-food-industry-in-korea/
“Fast Food Industry In Korea.” GradesFixer, 14 Jul. 2020, gradesfixer.com/free-essay-examples/fast-food-industry-in-korea/
Fast Food Industry In Korea. [online]. Available at: <https://gradesfixer.com/free-essay-examples/fast-food-industry-in-korea/> [Accessed 23 Jun. 2024].
Fast Food Industry In Korea [Internet]. GradesFixer. 2020 Jul 14 [cited 2024 Jun 23]. Available from: https://gradesfixer.com/free-essay-examples/fast-food-industry-in-korea/
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