Today, the international market expansion raises the problem of the effective business development in new business environment. Hard Rock Café plans the international market expansion but, to conduct the international market expansion successfully, the company needs to assess adequately target markets and to identify clearly countries, where to launch its operations. Hard Rock Café operates in the restaurant business and in the casino & hotel business. The company can develop both businesses autonomously and choose the most appropriate countries, where to maintain its business. Hard Rock Café needs to conduct the in-depth analysis of potential target markets to assess accurately its potential in target markets and prospects of the business development in new markets. In actuality, the in-depth analysis of target markets can help to identify the most prospective target market along with the full understanding of prospects of the company in the target market. As the matter of fact, the company can benefit from the international market expansion and the understanding of the target market will help the company to elaborate an efficient marketing strategy.
On the other hand, the company should come prepared to possible challenges which Hard Rock Café may face in the course of the international market expansion. In this regard, the company may separate its restaurant and hotel & casino business to accelerate its business development and international market expansion focusing on the most prospective countries. Obviously, Hard Rock Café has the potential for the successful international market expansion and entering new markets which allow the company to improve its competitive position and improve its marketing position.
Part 1
Analysis and evaluation of internal and external factors
-Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Vision and Mission (Internal)
Hard Rock Café is a successful company that operates internationally and focuses on the international market expansion. The further international market expansion matches the strategy of the company and its mission and vision. The mission of the company is to provide customers with services of the high quality offering them restaurant services and hotel and casino services. Customers can enjoy delicious food of different cuisines and enjoy the high quality of restaurant services along with positive ambiance of Hard Rock Café restaurants. Customers can also enjoy comfortable hotels that meet interests of all customers according to their taste and personal preferences. Hard Rock Café casinos provide customers with excellent opportunities to spend a great time in the unique atmosphere of Hard Rock Café casinos. The high quality of services and the customer satisfaction are primary concerns of Hard Rock Café.
At the same time, the mission of the company is to develop restaurant and hotel and casino business offering customer diverse services to maximize their satisfaction. The company focuses on the international market expansion and taking the lead in restaurant, hotel and casino industries. The achievement of these strategic goals will meet the mission of the company which is oriented on the development of its restaurant, hotel and casino businesses. In this regard, the development of the restaurant, hotel and casino businesses is strategically important for Hard Rock Café because the company attempts to diversify its business and create the broad range of services from restaurant to hotel services and casino services.