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GMMSO slides

  1. 1. Going Global: Chipotle Devon Wescott Kathleen O'Hearn Asiana Gilchrist Martin Yany
  2. 2. Company Overview Founded by Steve Ells in 1993 in Denver, Colorado -opened at an former Dolly Madison ice cream parlor Over 1,000 locations in 43 states -2 locations in Toronto, Canada -6 locations in London, UK
  3. 3. Chipotle the Brand Mission Statement: "Food with Integrity" -"fresh is not enough, anymore" Chipotle Cultivate Foundation - supporting family foods - increasing animal welfare and pasturing -increasing nutrition and reducing obesity in children "Back to the Start" -sustainability
  4. 4. What Chipotle Has to Offer "Fast- casual" -line- up, self serving High quality raw ingredients -naturally raised pork, beef & chicken -organically grown produce Distinctive interior design -working to make each store as sustainable as possible Limited menu -burritos, burrito bowls, tacos and salad
  5. 5. Chipotle Expands Shophouse -Asian Restaurant Very Similar to Chipotle -same mission statement -uses high quality ingredients -concise menu -interactive service format Currently has 3 locations -2 in Washington D.C. -1 in Santa Monica, California
  6. 6. Purpose: To decide on the best overseas market for Chipotle to consider in order to create and establish a successful global presence. -Achieve purpose through market analysis and country comparisons
  7. 7. Module 1: SWOT Analysis
  8. 8. Module 2: Determining Global Market Opportunity Australia vs. New Zealand
  9. 9. Module 2: Determining Global Market Opportunity Australia vs. New Zealand
  10. 10. New Zealand -one of world's fastest growing populations -72% in urban areas -growing more modern -developing a strong market economy
  11. 11. Australia -population nearing 23 million -over 17 years of economic growth -geographically isolated -lack of real domestic market
  12. 12. Country Comparison -Australia is more promising market to enter -stronger population -healthier -rising incomes
  13. 13. Module 3: In- Depth Market Analysis -Australia Income: Recent increase leads to increased discretionary income Cultural Preferences: Australians have a tendency to prefer higher quality food as opposed to food that may be cheaper - increasing preference for chicken and red meat
  14. 14. Module 3: In-Depth Market Analysis Population: largest population segments represent majority of Chipotle's target market - age 15-25= 13.5% - age 25-54= 42.2% Foreign Direct Investment Policies: ranked as having fewest restrictions on product market, and 3rd fastest place in the world to start a
  15. 15. Module 3: In-Depth Market Analysis Industry Growth: food service industry expected to rapidly grow in next few years -Australians developing a habit of eating out for lunch and dinner as opposed to dining in - 3.8% growth in fast food restaurants in last year alone
  16. 16. Module 3: In-Depth Market Analysis Total Market Potential: 2,116,745,232 -12, 599,674 potential customers purchasing product 24 times annually (twice a week) at an average of $7.00 per purchase Competition: -Montezuma's and Taco Bill's - Taco Bell=Taco No
  17. 17. Module 4: Market Entry Strategy Entry Strategy Franchise is the best option for Chipotle - Use cultural differences to adjust their marketing plan Ex: Dinnertime in America vs. Australia - Corporate may not be able to pay attention to small details, yet owners of certain locations can
  18. 18. Module 4: Product/Market Strategy Large agricultural market - do not need to outsource - cut down prices Eating out is a growing habit in Australia - Balance between healthy eating and eating out - 'Grab and go' restaurant vs. what is in current market
  19. 19. Module 4: Pricing Strategy Pricing of McDonald's should relate to pricing of Chipotle - Reflect that 27.9% increase in pricing Average Chipotle Pricing - $5.25-$7.25 for a burrito in America - In Australia: 27.9% increase... - $6.71-$9.27
  20. 20. Module 4: Promotional Strategy Quality over quantity in advertising methods - ex: Back to the Start video In Australia, 'content media' - Facebook, Twitter, LinkedIn, and YouTube - Focus in on important aspects in Australia - ex: Charities, the environment etc...
  21. 21. Module 4: Distribution Plan 75% of population live in big cities in Australia - Keep in mind the 16-30 age group - Places such as Perth and Sydney High tourism in these cities as well - Americans visiting in Australia may look for a restaurant that is familiar
  22. 22. Conclusion Chipotle has the opportunity to successfully enter the market in Australia - Must adjust and keep in mind the cultural differences in Australia
  23. 23. Sources http://theinspirationroom.com/daily/2012/chipotle-back-to-the-start/ http://www.cultivatefoundation.org/about http://www2.qsrmagazine.com/articles/features/138/global_growth-3.phtml http://www.fool.com/investing/general/2012/11/29/chipotles-shophouse-moves- into-expansion-mode.aspx http://www.ausfoodnews.com.au/2012/07/23/australian-consumers-change- eating-out-habits-in-2011.html http://www.indexmundi.com/australia/demographics_profile.html http://en.wikipedia.org/wiki/Median_household_income http://en.wikipedia.org/wiki/Economy_of_New_Zealand
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