The Service Industry Segment of Tasty Steak

The Service Industry Segment of

Tasty Steak

Content

Introduction        

1. Industry Analysis        

1.1 Description of the industry        

1.2 The list of related companies and some information        

1.3 Current situation        

1.5 The competitive environment of the industry        

2. Service strategy        

2.1 Strategic service concept of the company        

2.2 Competitive service strategies of the company        

2.3 Service purchases decision factors for the company        

2.4 Strategic positioning of the company        

3. Service Encounter        

3.1 Service Delivery Process        

3.2 Servuction component        

3.3 Service package        

3.4 Servicescape        

3.5 Environmental orientation        

3.6 Moment of truth        

4. Service Offering        

4.2 The bundle of benefits obtained by the customer        

4.3 The customer expectations regarding performance        

5. Key Success Factors and Speculation        

5.1 The role of technology or information to the company        

5.2 The role of customer service to the company        

5.3 The role of loyalty to the company        

5.4 The opportunities appear to be available to Tasty        

5.5 Suggestions to improve and remain competitive        

Reference list        

Introduction

Tasty is one of the famous food brands which is under the WowPrime Group, Taiwan's largest restaurant chain corporation. It is a western food cafeteria which provides the set meals from the appetizer to the main course to desert, as well as another delicious western food, which attracts most people to consume and enjoy Tasty.

The Tasty steak which we visited is located in the Pavilion shopping mall in Dalian, and our group has enjoyed the food and service before, so from the following parts, we will illustrate the analysis of F&B industry, service strategy, service encounter, service offering and the key success factors and speculation.

 (Oscar)

1. Industry Analysis

1.1 Description of the industry

As Tasty Steak under the Taiwan's largest restaurant chain, WowPrime Group corporation, and it also belongs to food and beverage industry, so we mainly talk about Taiwan food and beverage industry in the following paragraphs.

The food & beverage industry is usually defined by it output of products, to satisfy the various demands of food & drinks of people. But it doesn’t include the manufacturing of food & drink and its retailing. Food & beverage service can also be viewed from the customer’s perspective. Essentially, the customer enters a food service area, orders or selects his/ her choice and then is served.

Food and beverage industry is the pillar industry in Taiwan, in addition to traditional Chinese food cuisines, Japanese BBQ (Yakiniku), hot pot (shabu shabu), Thai foods, Italian cuisines, western fast foods and several other ethnic varieties are seen all around the industry.

According to the National Bureau of Statistics of China, the income of food and beverage industry reached 2.33 trillion RMB in 2012, which increased 13.6% and took up 11.2% of the total retail sales of consumer goods. According to the Ministry of Finance in February 2012 the Profitable Businesses Statistics show that the number of overall food and beverage industry totaled achieved 109,684, under which industry including restaurants, liquor store industry, food and beverage industry vendors, business numbers of each other food and beverage industry are 82,040,14,966,10,812,1,866, accounting for 75 percent of the overall food and beverage industry, 14%, 10%, 2%.

1.2 The list of related companies and some information

In Taiwan although the WowPrime Group is one of the largest restaurant chain corporations it still has several competitiors. Such as Noble Family corporation, bullfight group, TTFB company, Ding Tai Feng and An-Shin food service corporation.

Based on a 2012survey by China Credit Information Service, the revenue ratio of the top 10 companies have risen during 2006 to 2011. By 2011, Noble Family corporation(including those in China market) have reached 3.4 billion NTD; Wang Steak’s have reached 7.7 billion; An-Hsin Food’s (MOS Burger) 4 billion; and the newly listed TTFB’s have reached 1.5 billion NTD in 2011.

The following table provides the information of sales revenue of these companies and number of shops in Taiwan in 2012.[pic 1]

1.3 Current situation   [pic 2]

Taiwan food and beverage industry output value has grown rapidly in the past two years. According to Taiwan's Ministry of Economic Affairs (MOEA), the economic output of Taiwan's food service sector, excluding institutional food service, is estimated up to 385billion in 2012 , a 7.7 percent increase from the previous year. 

The main contribution comes from restaurant industry, whereas two other reasons account for rapid growth: domestic demands and inbound tourism. The continued prosperity of tourism market has helped drive up food service sector revenue, which is expected to continue to grow over the next decade. Especially after opening direct flights and mainland tourists to Taiwan, mainland tourists have become the largest source of tourists.