Dunkin' Donuts

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Dunkin' Donuts by Mind Map: Dunkin' Donuts

1. BACKGROUND

1.1. Began in 1948 in Quincy, Massachusetts, United States

1.2. In 1955, first Dunkin' Donuts franchise opened

1.3. Brand has grown to more than 12,400 stores in 46 countries

2. Mode of entry

2.1. Franchising. A specialized form of licensing.

2.2. Advantages: able to relief costs and risks of opening a foreign market

2.3. Disadvantages: difficult in detecting poor quality among service

3. Controllable environment

3.1. Product

3.1.1. offers a wide variety of products from coffee to smoothies. As well as donuts and bakery products

3.1.2. in China, different consume palate, thus Dunkin' Donuts created new products specifically for the china market. Such as donuts topped with chili oil or dried pork floss.

3.1.3. this ensures that Dunkin' Donuts remain sustainable even in foreign markets.

3.2. Price

3.2.1. Products are moderately priced and kept close to competition. To ensure affordability and attract more consumers

3.2.2. Dunkin' Donuts' donuts are priced at $1.90, cheaper than Krispy Kreme.

3.2.3. A;lows Dunkin' Donuts to offer their products at affordable price

4. Uncontrollable environment

4.1. Economic

4.1.1. Singapore's GDP is ranked 36th in the world and has been increasing significantly over the past 10 years

4.1.2. Shows that Singapore;'s economy is booming and attracting a lot of investments and businesses

4.1.3. Allows Dunkin' Donuts to capitalize on the rapid growth of the economy

4.2. Social

4.2.1. Not the local culture to consume donuts, but when it first arrived people queued for it. Shows how much Singaporeans enjoy new food.

4.2.2. But, due to novelty of the donuts, it will wear out and the business may plummet.

4.2.3. Threat to Dunkin' Donuts but can overcome the obstacle through promotions such as deals

5. Conclusion

5.1. Main focus is to gain market share in the F&B industry.

5.2. Through franchising, Dunkin' Donuts has better understanding of new markets from local knowledge of franchisees.

5.3. Correctly identifying the different controllable and uncontrollable elements are crucial for long-term success and sustainability

6. Recommendations

6.1. Expansion into Australia

6.1.1. Consumer preference in Australia is similar to Americans.

6.1.2. Donuts are not new in Australia, thus Dunkin' Donuts do not need to spend resources to introduce the product

6.1.3. Australia had a good economy, ranked 13th in the world based on nominal GDP

6.2. Increase in promotional efforts

6.2.1. By increasing sales promotion efforts

6.2.2. Use of coupons. Coupons are sales promotions that offer a discounted price to encourage trail

6.2.3. Essential for Dunkin Donuts when they enter a new market