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Below are two graphs showing the market share for certain food chains in the US in 2000 and 2020
Below are two graphs showing the market share for certain food chains in the US in 2000 and 2020. Describe the graphs by using the statistical data given. Your paragraph should be of about 180 - 200 words. Top Food Chains in the US by Market Share KFC 2% Wendy's 5% KFC 4% Wendy's 10% Pizza Hut 3% Dunkin Donuts 6% Pizza Hut 5% McDonald's 23% Dunkin Donuts 6% McDonald's 38% Taco Bell 7% Taco Bell 7% Burger King 13% Starbucks 8% Starbucks 28% Subway 12% Burger King 10% Subway 13% 2000 2020
Expert Solution
The following graph shows the market shared of the fast food restaurant and the QSR Quick service restaurant points of the major companies , The description accounting for the changes are as follows
The statistical measure of the market share is given by
Market Share % = % of sales coming from the target population / Total Consumer base in the target market
· Mc Donald can be seen losing a substantial portion of the market share from 2000 to 2020, This is mainly because of the type of expansion strategy Mc Donald’s follow is joint venture rafter than the popular attractive model of franchising . Hence
· As the target market expanded , the , denominator of the above statistical equation expanded in comparison to the number of Joint venture service points MC Donald is having , which led to the Fall in the market share .
Apart from these reason , for the other QSR restaurants , the following are the reasons for the changes in the market share statistical data
· There are changes (fall /rise ) in the sales in a particular target market
· There is an expansion of the target market customer base
· There is shift of customer base from one brand to the other
· Changes in number of service points per capita of the target market .
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