Ruth Chris Essay
Questions: Ruth’s Chris
1. What did Hannah do to make the first cut to 35 potential new markets? Which variables seemed more important in his decision-making? Which unused variables might have been useful?
Hannah and his team looked at product development, diversification, penetration and market development as a strategy for entering (a) market. They decided on the market development model or adding more of the same restaurants in new markets. One of the primary indicators used to determine which markets to enter was the countries beef consumption. The other (3) main factors that were also taken into account were population, urbanization and per capita GDP. Some other indicators that were first discussed but determined difficult to determine were high disposable income, eating habits of locals, legality of …show more content…
It is not a foregone conclusion that Ruth’s Chris should go global.
a. What are some of the costs, weaknesses for Ruth’s Chris in going global, and threats to their success in foreign markets?
The cost of going global is the marketing that would have to take place to instill the Ruth Chris Brand name. This would take time and money to build the already established reputation within the US. One threat I see is the potential for foreign markets to not condone the use of US beef. This could cause a major problem for Ruth Chris in a Foreign Market.
b. What are the expected benefits for Ruth’s Chris of globalizing, i.e., of consciously pursuing expansion outside the U.S. in a variety of countries?
The benefit for Ruth’s Chris globalization efforts is to expand the Brand globally. If successful Ruth’s Chris would have access to unlimited potential markets to develop for years to come. These additional markets would give Ruth’s Chris much greater access to overseas partnerships as well as new products to market.
c. Which benefits – if any – are likely to be quite important, and which are likely to be of limited
1. What did Hannah do to make the first cut to 35 potential new markets? Which variables seemed more important in his decision-making? Which unused variables might have been useful?
Hannah and his team looked at product development, diversification, penetration and market development as a strategy for entering (a) market. They decided on the market development model or adding more of the same restaurants in new markets. One of the primary indicators used to determine which markets to enter was the countries beef consumption. The other (3) main factors that were also taken into account were population, urbanization and per capita GDP. Some other indicators that were first discussed but determined difficult to determine were high disposable income, eating habits of locals, legality of …show more content…
It is not a foregone conclusion that Ruth’s Chris should go global.
a. What are some of the costs, weaknesses for Ruth’s Chris in going global, and threats to their success in foreign markets?
The cost of going global is the marketing that would have to take place to instill the Ruth Chris Brand name. This would take time and money to build the already established reputation within the US. One threat I see is the potential for foreign markets to not condone the use of US beef. This could cause a major problem for Ruth Chris in a Foreign Market.
b. What are the expected benefits for Ruth’s Chris of globalizing, i.e., of consciously pursuing expansion outside the U.S. in a variety of countries?
The benefit for Ruth’s Chris globalization efforts is to expand the Brand globally. If successful Ruth’s Chris would have access to unlimited potential markets to develop for years to come. These additional markets would give Ruth’s Chris much greater access to overseas partnerships as well as new products to market.
c. Which benefits – if any – are likely to be quite important, and which are likely to be of limited