The goal of Yum! is to penetrate the German market before competitors . The German market is considering as new growth markets like France, Russia, Brazil, and South Africa. They want to increase their market share in Europe.
Taco Bell Corp. has set a goal of doubling sales to $14 billion over the next 10 years. (http://www.ocbj.com/news/2013/apr/08/taco-bell-10-year-plan-double-sales/)
In this objective, we are considering as crucial for Taco Bell to introduce the German market. We will do so after 2015, when the contract with military basis will be ended and when Taco Bell will be able to sell Mexican food to the German public.
Taco Bell leads the U.S. Mexican quick service segment with 58% of the market share. Today, Taco Bell’s mission is to be the leading producer and marketer of Mexican quick service segment in Germany. Taco Bell wants to give German people an opportunity to have a tasty and healthy Mexican fast food.
The Taco Bell’s mission statement is: “We take pride in making the best Mexican style fast food providing fast, friendly, & accurate service. We are the employer of choice offering team members’ opportunities for growth, advancement, & rewarding careers in a fun, safe working environment. We are accountable for profitability in everything we do, providing our shareholders with value growth.” This statement will be also true when introducing the German market.
Taco Bell’s Mission and Goals
During the first three years, Taco Bell seeks to achieve the following financial and nonfinancial goals:
Financial Goals :
- Obtain financing to expand manufacturing capabilities
- Increases sales by 10% quarterly. (In U.S stores, with saturated market, sales for Taco Bell increased 6 percent in the quarter. Source: Bloomberg)
- Introduce new products according to consumers’ expectations and tastes and adapt Taco Bell to the German market
- Create loyalty among customers
- Increase customers’ satisfaction to ensure that they have a positive experience with the Taco Bell’s foods and services
- Develop strong relationships with suppliers
- Create partnership with local brand
- Develop appropriate social marketing strategy according to German consumers and keep this unique and innovative social media campaign
- Increase German consumers awareness to Taco Bell offers via marketing strategy
- Communicate on Taco Bell’s good service and healthy/ fresh food