Market Audit And Competitive Market Analysis
1. The market
A. The market in which the product is to be sold
Seoul is the capital city of South Korea, and it is the center of all political, economic and cultural activity in South Korea. It also holds most of the largest industries in South Korea. In addition, Seoul is considered as South Korea’s gate crossing to the world because it holds the major transportation networks, such as Kimp'o International Airport that is located in west Seoul, and Incheon International Airport (Asian Info, 2010).
B. Consumer buying habits
When it comes to healthy and good quality products, Korean consumers do not mind paying for it because most Korean households are very rich. In addition, Korean consumers want to be well guided before they purchase something. They can get the guidance from the Internet because 74% of Koreans highly depend on customers’ …show more content…
Tomatillo
The main competitor to Chipotle is Tomatillo. Tomatillo is a Mexican restaurant that provides a vast array of Mexican dishes such as quesadillas, burritos, tacos, tortillas. Tomatillo has 8 locations in major spots in Seoul and its locations are very close to the Itaewon Subway Station. The restaurant is known by its attractive and colorful interior. The restaurant’s menu is not huge, but it comes with a feature that allows customers to customize their own dishes.
In addition, the menu contains craft beers and fresh juices that Chipotle lacks. However, Tomatillo’s menu neglected to at least include English because it is considered one of the most spoken languages in the world. The restaurant also has amazing services that are not included in Chipotle’s service, such as waiter service, and Wi-Fi services. The prices of its dishes are approximately the same compared with Chipotle’s dishes. Due to the growing number of South Korean customers using the Internet and social media, the stockholders of Tomatillo rely more on Instagram and Facebook in
1. The market
A. The market in which the product is to be sold
Seoul is the capital city of South Korea, and it is the center of all political, economic and cultural activity in South Korea. It also holds most of the largest industries in South Korea. In addition, Seoul is considered as South Korea’s gate crossing to the world because it holds the major transportation networks, such as Kimp'o International Airport that is located in west Seoul, and Incheon International Airport (Asian Info, 2010).
B. Consumer buying habits
When it comes to healthy and good quality products, Korean consumers do not mind paying for it because most Korean households are very rich. In addition, Korean consumers want to be well guided before they purchase something. They can get the guidance from the Internet because 74% of Koreans highly depend on customers’ …show more content…
Tomatillo
The main competitor to Chipotle is Tomatillo. Tomatillo is a Mexican restaurant that provides a vast array of Mexican dishes such as quesadillas, burritos, tacos, tortillas. Tomatillo has 8 locations in major spots in Seoul and its locations are very close to the Itaewon Subway Station. The restaurant is known by its attractive and colorful interior. The restaurant’s menu is not huge, but it comes with a feature that allows customers to customize their own dishes.
In addition, the menu contains craft beers and fresh juices that Chipotle lacks. However, Tomatillo’s menu neglected to at least include English because it is considered one of the most spoken languages in the world. The restaurant also has amazing services that are not included in Chipotle’s service, such as waiter service, and Wi-Fi services. The prices of its dishes are approximately the same compared with Chipotle’s dishes. Due to the growing number of South Korean customers using the Internet and social media, the stockholders of Tomatillo rely more on Instagram and Facebook in