As Yeh explains, the Hard Rock cult of personality can be explained by analytical psychologist Carl Jung's theory of archetypes, which are the foundations for characters in movies, literature and art. There's a reason why the Hard Rock T-shirt is so much more than a T-shirt, beyond the nostalgic ties a customer like Samotin holds dear. But this particular graphic tee is a cultural icon." Normally, graphic tees become famous because of their design, because it's unique and eye-catching. "The success of this T-shirt isn't about the design," says CJ Yeh, professor and curriculum chair of Creative Technology & Design at FIT. The shirts caught on like wildfire, first in London, and soon all over the world. But with extra tees to spare, Tigrett and Morton began giving them away to the restaurant's regulars. The logo shirt's success was a happy accident, as it turns out: The original Old Park Lane cafe sponsored a local football team, so its T-shirt featured the classic Hard Rock logo. It was Tigrett's idea to model it after Chevrolet's iconic car hood ornament, which Aldridge originally drafted in a blazing red, white and blue he later scrapped that for the mustard and rust we now know it to be today. Therefore, the company should study the presence of substitutes and their impact on the target industry, including restaurant, hotel and casino industries.Tigrett and Morton knew nothing of graphic design, but they were sure of one thing: They wanted their logo to exude a subtle air of recognizable Americana. Substitutes can replace Hard Rock Café from the market. Therefore, Hard Rock Café should choose the market where it can afford the competition with local rivals.įinally, the company should take into consideration the threat of substitutes. In fact, the company should assess adequately its potential and capability to maintain competitive struggle. In such a situation, the company should come prepared to rivalry. Therefore, Hard Rock Café should chose the target market, where barriers to entry are low, while prospects of the market growth are high. In contrast, markets, where the competition is tight but the number of companies operating in the market is high, barriers to entry are lower. They can raise substantially the barriers to entry. Barriers to entry are high in markets, where there are a few strong companies operating in the industry. The company will also have to overcome barriers to entry. Reliable local suppliers can help the company to save costs and to provide consumers with products and services of the high quality. Hard Rock Café relies heavily on local suppliers, especially in regard to its restaurant and hotel business. The supplier power is also important in terms of business development of the company in a new country. The high buyer power is likely to facilitate entering the new market because buyers can use services offered by Hard Rock Café, while customers with the low buying power are likely to save their money and refuse from using services of Hard Rock Café. In this regard, the buyer power can affect the success of Hard Rock Café entering new markets. ![]() The analysis of five force model can help Hard Rock Café to identify the best target market. The company can benefit from entering markets with the low level of the competition. Hard Rock Café will face considerable difficulties in the market, where the growth has stopped and the competition is tight. In fact, the company should enter markets which have a potential for growth. The country market and industry opportunities are also extremely important for Hard Rock Café and its international business development. – Country Market and Industry opportunities The company can also use its financial and material resources to develop its chains in the target market. ![]() Hard Rock Café can use its human resources to transfer to the new outlet and to train local employees. In fact, the resource base of the company is sufficient for the international business development. The company needs the resource base to develop its business internationally (Gitlow, 1997). The resource base of the company is crucial for the successful business development of Hard Rock Café. Hard Rock Café’s system of values promotes equal relationships within the company. The company has its set of values, which employees respect and appreciate. Hard Rock Café has the code of ethics which regulates relationships between employees working in the company. Hard Rock Café develops its business internationally. The company develops the value chain throughout new markets (Blanchard & Bowles, 1993). The company develops the value chain and, while entering the new market, Hard Rock Café should develop its value chain in the new market. Hard Rock Café should develop the value chain.
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