International competitive strategy
Competitive strategy of Mr bean is overall cost leadership the idea of everyday low prices is to offer products at a cheaper rate than competitors on a consistent basis, rather than relying on sales mr bean able to keep prices low through a division of labour that allows it to hire and train inexperienced employees rather than trained cooks. It also relies on few managers who typically earn higher wages. These staff savings allow the company to offer its foods for bargain prices. There are a lot of competitor in hong kong this help mr bean to bring the business above average return even in a niche. Its will help mr bean increase its market share and maximize the profits also It will attract large portion of potential customers find paying low prices for goods and services of acceptable quality to be very appealing. Mr bean will have more capital resources available to fund growth or further investments. Mr bean basic operating costs are low, can put more money into research and development, technology upgrades and other business expansion.
Competitive Rivalry or Competition with Mr bean (Strong Force)
1. The soya bean industry has many firms of various sizes, such as global chains, traditional soya bean and innovative. Also, most medium and large firms aggressively market their products. In addition, Mr Bean’s customers may experience low switching costs, which means that they can easily transfer to other restaurants, such as Wendy’s.
2. Bargaining Power of Mr beans Suppliers (Weak Force) Mr Bean lack of regional or global alliances among suppliers. In relation, most of Mr Bean’s suppliers are not vertically integrated. This means that they do not control the distribution network linked to Mr Bean facilities. Also, the relative abundance of materials like flour and soybean reduces suppliers’ influence on McDonald’s.
3. Bargaining Power of Mr bean’s Customers/Buyers (Strong Force)
Because of the ease of changing from one restaurant to another (low switching costs), customers can easily impose their demands on Mr bean. In relation, because of market saturation, consumers can choose from many soya bean outlet other than Mr bean . Also, there are many substitutes to firms like Mr bean ’s. These substitutes include food outlets, artisanal bakeries, as well as foods that one could cook at home.
4. Threat of Substitutes or Substitution (Strong Force)
There are many substitutes to Mr beans products, such as products from artisanal food producers and local bakeries. Consumers can also cook their food at home. It is also easy to shift from Mr beans’s to these substitutes (low switching costs). In addition, these substitutes are competitive in terms of quality and consumer satisfaction
5. Threat of New Entrants or New Entry (Moderate Force)
New entrants can impact Mr bean market share Because of the low switching costs, consumers can easily move from mr bean toward new fast food soyabean outlet . Also, the moderate capital costs of establishing a new restaurant makes it moderately easy for small or medium-sized firms to affect mr bean.