MBA – International Business
Indian Institute of Foreign Trade, Delhi
Fast food is the term given to food that can be prepared and served very quickly. While any meal with low preparation time can be considered to be fast food, typically the term refers to food sold in a restaurant or store with low quality preparation and served to the customer in a packaged form for take-out/take-away. Also, the term fast food was recognized by Merriam-Webster in 1951. Though an unhealthy option, fast foods can be prepared and served quickly and that is why it is a much preferred choice for those who want a quick grab of something to ease their hunger. Outlets may be stands or kiosks, which may provide no shelter or seating, or fast food restaurants (also known as quick service restaurants). Franchise operations which are part of restaurant chains have standardized foodstuffs shipped to each restaurant from central locations. The capital requirements involved in opening up a fast food restaurant are relatively low. Restaurants with much higher sit-in ratios, where customers tend to sit and have their orders brought to them in a seemingly more upscale atmosphere may be known in some areas as fast casual restaurants.
There is a vast difference in the buying habits and purchase decision making of the Indian consumers. I am trying to analyze the changing trends in the Indian consumer behaviours and will also undertake the price sensitivity analysis that is playing an important role in driving the growth in the Indian Fast Food Market.
My research will also provide comprehensive analysis on the various factors that are acting as catalyst for the growth in the Indian fast food market. The report will also gives an overview of the competitive landscape, in which leading industry players have been covered along with their business overview and strategies undertaken. Medical experts globally believe that it is unhealthy to binge on fast foods. So take a careful bite of these desirous fries and burgers.
The concept of ready-cooked food for sale is closely connected with urban development. In Ancient Rome cities had street stands that sold bread and wine. A fixture of East Asian cities is the noodle shop. Flatbread and falafel are today ubiquitous in the Middle East. Popular Indian fast food dishes include vada pav,panipuri and dahi vada. In the French-speaking nations of West Africa, roadside stands in and around the larger cities continue to sell—as they have done for generations—a range of ready-to-eat, char- grilled meat sticks known locally as brochettes. The concept of fast food pops up during 1920s.The 1950s first witnessed their rapid proliferation. Several factors that contributed to this explosive growth in 50’s were:
(1) America’s love affair with the automobiles.
(2) The construction of a major new highway system.
(3) The development of sub-urban communities.
(4) The baby boom subsequent to world war second.
“Fast-food chains initially catered to automobile owners in suburbia. On the go
Fast food outlets are take- away or take- out providers; often with a "drive- through" service which allows customers to order and pick up food from their cars; but most also have a seating area in which customers can eat the food on the premises. People eat there more than five times a week and often, one or more of those five times is at a fast food restaurant. Nearly from its inception, fast food has been designed to be eaten "on the go", often does not require traditional cutlery, and is eaten as a finger food. Common menu items at fast food outlets include fish and chips, sandwiches, pitas, hamburgers, fried chicken, French fries, chicken nuggets, tacos, pizza, hot dogs, and ice cream, although many fast food restaurants offer "slower" foods like chilli, mashed potatoes, and salads.
Although fast food often...