Analysis of Three Marketing Concepts For Restaurant Industries (A Case Study for Thai Restaurants in the United States)

Abstract

The restaurant industry is the largest private-sector business in the United States. The sales of the industry are projected to be $558 billion by the end of 2008. It is said to be equal to 4% of the U.S. gross domestic product. As one of the players in the industry, the Thai Restaurant have increased the number of the restaurants that are operated in the U.S, but the rapid change in restaurant market could endanger this business in the future if the restaurant is not able to adjust with current market needs. In order to be able to make the adjustment, there are three concepts that the Thai Restaurant should analyze. First, is knowing the change in Americans’ eating trends, followed by conducting a market analysis, and thirdly, applying marketing mix model. These concepts will allow the Thai Restaurant to compete with other restaurants to obtain the American market.