At Bangkok SWOT

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At Bangkok SWOT

At Bangkok

SWOT Analysis

Business Background

6 years ago, a group of young entrepreneurs found that there had been no Thai restaurant for Thai people who live in the city of Sydney. They saw a potential growth in restaurant business as the Thai community had been expanding in the last 10 years.

For those Thais away from their homeland, they could not help but notice that Thai food available in Sydney failed to offer them an authentic taste, which they enjoyed back in Thailand. They had missed Thai street food, home-cooking styled food and the real Thai taste.

@Bangkok was established on this base of philosophy – Thai food, Thai taste for Thai people, and right in the middle of Thaitown. The partnership was formed among a young cook, a marketing expert, a graphic designer, and a singer. The restaurant is currently managed by Darase Kraykaew and Artit Krutrabiab who have been trained in many Thai restaurants in Sydney, and their great love of cooking.

Strengths

  • Opened since 2007 has more than 7 years’ experience. The restaurant has already established itself as a strong and popular restaurant in the Thai community.
  • Great Thai atmosphere with live Thai bands and singers. This is one of the restaurants biggest attractions, because many Thai people are home sick and being in a restaurant with Thai music, Thai people and Thai food can make them feel more at home.
  • Good quality Thai food – the food is considered very good and the quality is very high.
  • Great location near Thai town. Just opposite Thai town, the restaurant is easily recognisable and the Thai people can easily know where the restaurant is, without even seeing it.
  • Very good at attracting the target market. The restaurant has chosen its target market (thai people), and has identified very effective ways of attracting them, such as food, live entertainment and environment.
  • A lot of regular customers coming each week. The restaurant has regular customers that purchase take away food each night, or bring their friends to dine in regularly.
  • Financially successful, the company can earn a lot of profit each week.
  • The restaurant has a good reputation for have a good authentic Thai taste that suits the Thai community.
  • Weaknesses

  • Very low market share because there are a lot of competitors in the area
  • Weak product development, because the restaurant finds it difficult to come up with new ideas for dishes
  • ......

    At Bangkok SWOT
    Last updated: Feb 2024

    Page 1

    t finds it difficult to come up with new ideas for dishes

  • A lot of competition in the area and the competitors are stronger
  • Only one location which makes the brand less powerful and influential in the market
  • Lack of Marketing which means that the company will find it harder to get new customers
  • Targeted to only Thai people (small market in Sydney). More than 90% of the customers are Thai people.
  • Must pay for the live band to perform each day, extra expenses such as equipment, electricity, etc.
  • Difficult to attract new customers and different markets because of the lack of marketing and target market being so small.
  • Opportunities

  • Market expansion – the restaurant can expand its operations to new areas around the City or even make one in another city such as Melbourne
  • Growing Thai market and community, the community has been growing for many years now.
  • Joint ventures with retailers (e.g. supermarkets) this is possible for supermarkets in Thai-town or even in Coles and woolworths, if the product is attractive.
  • Creating new menu that attracts more nationalities, this will help attract more customers outside of the Thai target market.
  • Increasing marketing strategies to attract more customers will also help to grow its market share and attract new customers.
  • Threats

  • Strength of competition is very high, the fast food restaurants are very strong, and other Thai competitors are very strong.
  • More price-conscious consumers. Customers are trying to save a lot, and therefore, eat outside less. This will impact on the sales of @bangkok.
  • Changing demographics can significantly impact on the restaurant’s performance.
  • Fluctuation of foreign exchange rates; this will impact the number of Thai people visiting Australia or staying in Sydney and this will hurt @bangkok’s success.
  • Changes in government regulations – this will cause the restaurant to change its operations which could result in less sales. Such as the Sydney alcohol lock-out which prevents the restaurant from serving alcohol after a certain time.
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    At Bangkok SWOT
    Last updated: Feb 2024

    Page 2

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