Tung Lok being the leading innovative restaurant, innovation is their key to success. In order to cater to different market segment, each of their outlets is distinctive in its own way at the same time maintaining its name for quality. To ensure quality of food produce, all their chiefs are personally selected by their managing director. They have a very experience management team in which every senior management has an average of a decade of experience in F&B industry. They have leaded the company to winning many awards thru the years and the company continues to grow at a steady speed locally and regionally. In the year 2008, the company recorded a high revenue of $69,871,000. Tung Lok also ensure that maintain a deep pocket for emergencies, like SARS.
Tung Lok emphasizes alot on ambience so as to provide customers with different dinning experience. Therefore, they spend a significant amount on the interior design causing the start up cost of each establishment of a new out to be very high. Although they have very strong branding in Singapore, they are still weak in their presence outside Singapore. Technology can be use to streamline operation, however due to the high cost required to implement the use of new technology, there’s very little use of technology in their daily operations other than the basic technology such as cash registers. Tung Lok use to target the high market segment and also due to the high cost, their product are price highly. However, now that they have diversified their market to target the mid market segment, they should review on their pricing strategy.
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