Market Solutions Report - 2 Fat Indians

Introduction

This assessment prepares a market solutions report for 2 Fat Indians, that analyzes the product offerings of the company and determines a new target market that the business can consider catering to, for growth and expansion.

Company Background

2 Fat Indians was established in the year 2008 and introduced the people living in Perth to diverse and rich varieties of delicious Indian food (based on the given case study).

The company has acquired a fantastic reputation for serving exotic Indian food of a truly sumptuous character combining flavors and recipes from all over India to make for a splendid dining experience (based on the case study).

Market

Indian foodscape is continuing to evolve and Indian cuisine has become quite popular across Australian cities and towns, primarily because of Masterchef Australia.

Products/Services/Offerings

Before assessing the product offerings that 2 Fat Indians can make in Melbourne, an analysis must be conducted about the market position and competitive position of the enterprise. This will be done using the BCG Matrix, the Ansoff Matrix, and Porter's 5 Forces Model. 

BCG Matrix Analysis

BCG Matrix is comprised of four components namely, Stars, Question Marks, Cash Cows, and Dogs.

Stars - Fish Masala and Chicken VIndaloo are the stars on the menu that are offered by 2 Fat Indians in Perth (based on the given case study). These sumptuous food items can be offered in the new target market, 

Cash Cows - Chicken Korma, Rogan Josh, and Butter Chicken have significant takers in Perth and may be offered at the new restaurant in Melbourne too, to make great sales and earn good revenue.

Dogs - The vegetarian items like Chilli Paneer on the menu of 2 Fat Indians are growing in popularity too, but are not as much in demand as the non-vegetarian food items. 

Question Marks - There are no significant questions that 2 Fat Indians must contend with, either in Perth or in the new target market which is Melbourne.

Ansoff Matrix Analysis

Ansoff Matrix has four components namely that of market development, market penetration, differentiation, and product development.

Market Development -  2 Fat Indians can consider selling its existing favorites like Chicken Korma and Chicken Vindaloo in the new market.

Market Penetration - To penetrate the market in Melbourne, 2 Fat Indians should focus on offering rebates and discounts to quickly acquire the interests of customers.

Differentiation - Including various varieties of sandesh and other sweets can help the company to differentiate its offerings in Melbourne. 

Product Development - Existing favorites like Chicken Vindaloo can be customized to suit the tastes and preferences of the target audience in Melbourne. 

Porters 5 Forces Analysis

This tool is comprised of five components namely, competitive rivalry, bargaining power of suppliers, bargaining power of customers, threat of substitution, and the threat of new entry.

Competitive Rivalry - Taste of India Melbourne is a renowned Indian gourmet dining location in Melbourne. 2 Fat Indians can face significant competition when expanding to Melbourne,

Bargaining Power of Suppliers - As there are many Indian restaurants operational in Melbourne, there are reliable distributors and suppliers that the business can locate when operating here. The bargaining power of suppliers is low.

Bargaining Power of Customers - Since there are numerous Indian restaurants for customers to choose from when in Melbourne, the bargaining power of customers is on the higher side.

The threat of Substitution - As 2 Fat Indians, is an enterprise that is dedicated to producing innovative and uniquely blended Indian cuisine, the threat of substitution for its products, is quite low in Melbourne.

Threat of New Entry - The demand for Indian food is high in a city like Melbourne. There are new restaurants that can emerge, which offer dishes that are as sumptuous as that of 2 Fat Indians and which may be available for a reduced price.

Mission and Vision Statement

The mission of 2 Fat Indians is to be recognized as one of the finest Indian restaurants in the country of Australia. About its vision, the business sees itself as offering an Indian culinary experience that is truly unique, diverse, and authentic (based on the case study).

Conclusion

To conclude, 2 Fat Indians is an enterprise that can consider expanding to Melbourne, Australia to widen its target audience and earn greater levels of growth in the process.

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