Team # 118
Client (Company):
Walt Disney Company
Product/Service:
Chain of theme restaurants
Team members:
Name
Country
Did Not Partecipate
Valentina Novello
Italy
Joanna Przybylska
Poland
Oraphan Bunchuaicharoenphon
Australia
Sandip Chandran
India
Evan Burokas
USA
Derrick Ntim Boateng
Ghana
X
The Disney Chain of Restaurants
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Our international team:
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Table of contents
1. Product/Service ................................................................................................................... 5
2. Target Market ..................................................................................................................... 7
3. Consumer segment ........................................................................................................... 10
4. Production site or service personnel location ................................................................... 12
5. Entry mode ....................................................................................................................... 16
6. Staffing ............................................................................................................................. 22
7.Marketing........................................................................................................................... 24
8. Payment arrangements ...................................................................................................... 32
9. Capital ............................................................................................................................... 34
10. Likely challenges ............................................................................................................ 38
Summary ............................................................................................................................... 42
Bibiography .......................................................................................................................... 44
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1. Product/Service
The business introduced by the present document aims to create a themed chain of
restaurants for Walt Disney Company.
The Walt Disney Company was founded in 1923 by Walt and Ron Disney in
California, United States; it is a global firm that operates in the following business sectors:
Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and
Interactive Media.
The Company is listed on New York Stock Exchange and in the fiscal year of 2011,
its revenues reached $40.893 million, increasing by 7% from 2010 and net income was
registered at $5.258 million (+22% from 2010). Currently Walt Disney Company is chaired
by Robert A. Iger, which is also the CEO, and the number of employees is approximately
156,000 (Disney Company Annual Fiscal Report, 2011).
The idea at the heart of our business proposal is to create a new chain of Disney’s
restaurants drawing inspiration from the best known and most successful entertainment’s
projects thus reproducing an environment which reflects the slogan of the Company “Where
the Dreams come True”.
The plan consists of the creation of an encompassing environment where customers
could eat, enjoy a magical atmosphere, attend shows, enjoy Disney’s wide variety of themes
and dresses, objects and other memorabilia from behind the scenes for the viewers pleasure.
The restaurants are focused on establishing a worldwide presence in those
metropolitan areas, which are most likely to attract Disney’s fans and as well as new faces, of
all ages. Also, they are focused on becoming a tourist destination in which visitors cannot
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afford to miss. The development of a worldwide strong brand identity for the themed chain,
will be supported by an adaptation process of the international product to different locations
and foreign markets. This is also because one of the objectives is to create a unique
experience to each restaurant that cannot be missed by the consumer.
As for the product, the supply is generally oriented to standardization for some core
aspects but it is intended to meet specific local needs of the respected areas while adapting to
markets tastes and features. This strategy is also driven by different physical and functional
features of foreign countries.
As for the restaurant, the broad idea is to offer a meal consisting of tempting dishes
with affordable prices for the average consumer.
The outside decor for every single restaurant should be easily recognisable; the
presence of a sign does play a fundamental role for chain’s visibility. The interior design, as
mentioned above, will be inspired by Disney characters and stories. The planning includes the
setting up of a space where shows and concerts could be offered, and new Disney’s products
promoted.
Following the same trend, the look of the staff attending consumers will be in line
with the restaurant’s theme and with the most famous characters. All these last aspects - in
particular occasions, mainly during the promotional launch of new company’s operation may change and be adapted to the particular theme of that operation. Inside the restaurant a
shopping area will be set up, where merchandise, souvenirs, and custom collections linked to
a specific location will be sold.
The project aims to take advantage from the influence that the Disney’s brand has on
consumers and enter a new sector – the restaurants and food service industry – that presenting
growth opportunities and never been entered before by Disney. According to Datamonitor, the
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world’s industry of restaurants and food services is expected to increase to $ 992 billion in
2014 (+18,3% from 2009). The most important market segment is restaurants and cafès with
almost 52% of the whole industry value (www.reportlinker.com)
The performance of the restaurants sector, that includes also fast food retail, drinking
places and catering, reached revenues for almost $ 1.6 trillion globally in 2010 only. In the
MarketLine report, the market is expected to grow to more than $ 1.8 trillion by the end of
2015 (www.reportlinker.com).
A themed chain of restaurants will increase visibility and coverage to The Walt
Disney global brand. Through the creation of a meeting place, Disney could be close to the
consumer even in places where at the moment the company is not present with Disney store
and Disney Parks and Resorts.
2. Target Market
Disney restaurant’s project will be offered globally. The plan provides a first
opening in New York, in fact, Times Square will be an ideal location for the first Disney
restaurant. The launch of New York, will be followed in the domestic market by several
openings in: Miami, Boston, San Francisco, Washington, Atlanta, Chicago, New Orleans and
Houston. The following ambitious step is to enter with Disney restaurants into all five
continents.
In order to target different markets Disney has to cater to the culture and tradition of
that particular market. This would mean different marketing strategies and different target
segments for different markets. There are nuances in different markets that Disney would
have to consider before entering that particular market. Therefore, understanding the target
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market and the consumers involved is very important for Disney’s marketing strategy. The
main target market for Disney is ‘Family’ in general and the secondary and tertiary target
market would change from location to location and from country to country.
Hong Kong
In Hong Kong, the main target market for Disney Restaurant would be kids and
families. It would give an atmosphere of mixture of home and casual setting which would
attract this sort of a target segment. The visitors from western countries and families from
mainland China would be its secondary target market. Visitors from Hong Kong would be
the primary market for the Disney restaurant. Ideally it should look at a third of each segment
i.e. its target market would be a third of foreign tourists, a third of visitors from mainland
China and a third from Hong Kong itself. On the website of Disney Hong Kong it has divided
the customers into four segments.
Australia
The target market for the Disney restaurant in Australia would be school, children
and their families. Also nuclear families that have children between the ages of 4-13 would be
another target segment. Australia had almost 6 million tourists visiting in 2011
(www.tourism.australia.com). Therefore tourists visiting Australia would be its secondary
target market. Disney Restaurant would earn a sizeable portion of its revenue from tourists.
Europe (Italy, Germany, Spain, UK, France)
The research conducted by Disney on European travel to the United States showed
that the top three things tourists were most interested in seeing were New York, Disneyland,
and the Western United States. Keeping this in mind the Euro Disney built in France was the
most ‘Western American’ of all of Disney's Parks. Along with American Culture Disney
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incorporated European nuances to cater to its European customers. The target market of
Disney in Europe was past visitors of United States Disneyland from Europe. The design of
theme park was focused on attracting these visitors to come back again and relive the Disney
experience. Therefore the target market for the Disney restaurant should be similar. The target
market would also include families. But since Europe has lower percentage of children to
adults as compared to the rest of the world, the restaurant should also focus on urban
professionals and adults aged between 20-40. This would help Disney in attracting customers
from all age groups and compensate for the relatively smaller number of children that would
visit as compared to countries in other continents. By trying to give the customers a feel of
‘Disney’ it can attract customers across all age groups (www.ectraining.com.).
Japan
The target market for Japan would be the same but with a few nuances. Since
Japanese culture is different as compared to the American culture the Disney restaurant would
aim to provide an amalgamation of American styled entertainment with Japanese culture.
Presently Disney Japan has one Japanese restaurant one Chinese restaurant and all others
serve American food. Its target market would mainly be families along with tourists due to
Japan being a very popular tourist destination.
America and Canada
The Primary market for America and Canada would be tourists. In 2011 the number
of tourists had reached 62 million in US and 21 million in Canada (www.msnbc.msn.com).
For America kids, families would also be another significant target segment. America has a
substantial number of students aged 18-24. This would be another target segment that the
restaurant could focus on.
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India and Brazil
India and Brazil being emerging economies would present an exciting opportunity to
Disney to establish itself in these countries. Even though the Disney name is universally
known brand Disney is not well established in these countries. So the Disney Restaurant
would be the ideal way for Disney to launch its presence in these countries. The target market
would comprise of families and to some extent couples and young professionals who would
like to sample the Disney experience.
Singapore
The Disney restaurant in Singapore would target three segments of customers. They
would be international tourists from outside Asia, tourists from Asia and locals from
Singapore itself. Since Singapore is also a very popular tourist destination, tourists would be
a very vital part of its target market.
3. Consumer segment
Walt Disneyland and Walt Disney’s world are one of the best theme park and the
entertainment providers in the world. The Disney characters such as Mickey Mouse, Minnie
Mouse, Little Mermaid, and so on are widely known from the cartoons, movies and comic
books which helped Walt Disney become one of the most popular company in the world. The
atmosphere that Disney provides helps its customers adapt the fantasy world that the company
is trying to create. This atmosphere allows families to spend time together on their vaction,
and have fun with the entertainment that Disney provides.
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Walt Disney stated itself as family-oriented brand, so its brand target group can be
divided, initially, into a primary and a secondary group. The primary consumer segment of
Walt Disney would be kids and teenagers, ages of 2-16 years old, boys and girls. These target
audiences have the greatest influence over their parents’ decision-making and rely on the
brand image heavily. The secondary group would be men and women between 35-55 years
old who Walt Disney should put focus on because they are the main consumers and they are
familiar with the traditional Disney atmosphere. Both of the primary and secondary segments
would be people who have adequate funds to spend on products and services. However, the
secondary consumer segment tends to be less attractive to Disney’s merchandises than the
primary group. Also, the primary group has become the dominant role to control purchasing
and decision. This means Walt Disney should consider more about its strategy that can attract
the secondary group who is the money makers and push them become the primary purchaser
(advergators2.weebly.com).
Due to the brand image, both of primary and secondary segments are very loyal to
Walt Disney because of good services, participation with characters that come alive, and the
fun rides. Plus, Walt Disney offers the wide range of products and services, such as theme
parks, movies and music, retail stores, hotels, restaurants, as well as TV programming. These
products and services can assist Walt Disney to deliver creative and innovative entertainment
experiences to all audiences over the world.
The last consumer segment to take into consideration is the middle one, from 17/18 to 35
years old. It is the group that mostly follows global purchasing trends.
Another general consideration identifies tourists as a group of consumers apart, in fact that
group combines all previous segments. Following our long term plan, consisting in entering
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many countries and targeting the biggest world cities, what we expect is that a strong part of
revenues will comes from tourism.
To achieve all these customers, the segmentation strategy is based on a
transnational-differentiated approach, in a way to clustering together consumers segments
among similar countries. In the marketing section it will be proposed some methods to reach
information on similarities a differences between target countries.
4. Production site or service personnel location
Suppliers in the food industry vary drastically from country to country which puts
multiple cultural strains on companies who try to expand into foreign markets. Various details
such as choosing a supplier, locating a distribution plant, packaging and acquiring the
appropriate staff to deliver a foreign companies business plan are just some of the few
problems that appear when exploring a foreign direct investment opportunity. This section of
the business proposal will explore the multiple locations in which we believe Disney will be
able to operate in and expand their restaurant services successfully in the foreign markets.
Below is our generic processing plan in which Disney will operate from when going about
expanding into these different markets.
Step one: Determine if you have the financial funding to expand
Disney is a worldwide reputable name but that does not necessarily mean they have
the most reputable funds. Pending on the industry, profit margins and financial gains can
fluctuate from industry to industry and therefore, we have established that the industry Disney
will be moving into, the food industry, is and will be very profitable in the future. Disney
does have the financial funds to back a strategic idea such as ours which is important to
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ensure that the operations and budging is in good health as they proceed. Many companies
today look to expand into different markets because they either are not attracting the right
customers or they aren’t bringing in enough customers. It is critical to have financial backing
when expanding especially when unplanned circumstance could arise and cost more money
and time than anticipated.
Step two: Research New Locations
Many companies who enter a new market fail because of their ignorance and stubborn
approach of not doing enough research on their target market. Research is essential to a
company’s decision to enter a market or not because your product must be in demand in order
for you to be successful. Your market must find consumers who want/need your product, can
afford your product and your product must offer something unique to this market. In terms of
our production site, the supplies and resources needed to supply a restaurant chain makes it all
the more difficult to find a production site for our materials. Key elements that are required in
our production site are:
1. Nearby and accessible route for shipping/handling
2. Educated workforce
3. Clean workforce to meet government policies
4. Proper equipment for packaging and shipping
5. Acceptable climate (pending on whether or not we decide to process our own meats
and grains or import them from another provider)
Step three: Deciding on a location
This is a critical step in the business plan because not only does Disney need to find a
market that supports their product, but they must also find the property, land and country in
which to build an infrastructure in. The country in which we plant our production site is
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important because of two things: shipping tariffs and return time on investments. If our site,
for example is in Germany, with restaurant operations in Italy and Spain, our shipping tariffs
increase and our profit margin shrinks. Also, the time in which we take to ship an item could
be longer and cost more money and time if in a different country than to have a restaurant and
production site in the same country.
Step four: Logistics
Ultimately, logistics is affected when there is shipping and handling involved. Since
our products such as merchandise and memorabilia will be imported directly to our
production site, handling and shipping will be the only aspect that requires tracking and
tracing for these items. As far as the logisitics between our exported and imported foods, will
lie solely on the decision on whether or not we decided to manufacture and process our own
food. If so, the production line will process, package and tag our items after being frozen and
inspected, then passed down the assembly line for packaging and shipping in which from
there they will be tracked and monitored until the shipment reaches the targeted location.
This is a system in which many restaurants use in order to keep up with inventory,
transportation, material handling and security.
Step five: Can the Business model be replicated in your new target market?
Now that we have decided on a suitable location with a production plan in place, the
only question left is, can we execute our business model in a foreign market and under and
foreign workforce? Due to cultural differences, nations work ethics seem to change from
country to country, as expected. However, when trying to operate a business model that is
effective in the eyes of the business men and women in your respected country does not
necessarily mean that it will work in someone else’s country. The main concern of
implementing a foreign business plan in another country is the work ethic behind your work
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force. Therefore, our staffing and employment decisions are vital to the success of our future
business model. The staffing aspect will go into further detail of what “type” of employee
Disney is looking to hire however, the way in which Disney will have to go about
implementing a certain work environment is essential.
1. Must hire and acquire experienced management to deliver quality and precise
instructions.
2. Work force must be younger and understand that the customer experience is their
number one priority
3. Production, work output and classifying employee roles is essential to maintaining the
business model.
A great model and or example to follow is McDonalds expansion into Moscow.
They accounted many problems in the production phase which pushed their emergence into
the market back three years but the way in which they trained their employees was top class.
After acquiring experienced management from the country of origin, McDonald’s required
their future employees to attend a 3 week training program in which they would learn the
company and its operations inside and out. This implementation paid huge dividends when
the grand opening exceeded their expected consumer capacity and had to call in for more
workers. The transition was smooth and efficient which created an atsmosphere that
customers enjoyed, with a product they loved. This is the key element that Disney will need to
create in order to compete and withstand industry demands.
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5. Entry mode
There are many different strategies in which Disney can enter these markets, both
domestically and in foreign markets. For the Disney restaurant, our team has worked out a
strategy which is divided into two phases. First step, it will be a foreign direct investment –
greenfield, and second step, after achieving a high recognizable international position –
business format and master franchising.
I.
Foreign direct investment – greenfield (DOS)
Foreign direct investment is the most advanced way of internationalization and
globalization of an enterprise. This mode of entry demands vast immersion of resources and
skills to work in volatile, complex environment. The financial factors directly influence our
decision to choose FDI as a mode of entry in local and foreign markets. There are a lot of
advantages of running independent business’ in foreign market. First of all, entrepreneurs
have direct, quick access to information about market, what makes adaptation easier. It also
enables enterprises to indispensably supply the market and improve quality and flexibility of
product. Entrepreneurs have the possibility to control an investment and also make transfers
between headquarters and branches easier. The exchange of information, technology, capital,
experience, human resources are faster with FDI (Limański, Drabik, 2010).
We choose DOS (greenfield direct investment) as a first step of internationalization
for Disney chain of restaurants because it enables the company to fully adapt the strategy and
current actions to international plans of Disney company. We are aware of the necessity of
doing market research to choose appropriate markets. DOS demands large sums of capital and
skills input while also holding a high level of risk so we have to take on account the volume
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of demand on the local market, competition conditions, trends of environment changes, but
also, political and law conditions.
We are conscious of the risk connected with FDI but we feel that before development
of franchising Disney restaurants’ chain in local and foreign markets, we have to define and
examine our product while also getting to know our clients’ needs to create strong position in
the market which will attract potential franchises.
II.
Franchising
Franchising consists in sale by enterprise (franchiser), the idea and whole program of
running a business, to another entrepreneur (franchisee). It is often connected also with
geographical exclusivity. Practically, the franchiser gives franchisee opportunity to take
advantage of the trusted business plan of production, management and marketing. Franchising
contract includes rules concerning release of product and its conception, technology of
production, recopies, equipment, organizational solutions, marketing (using of brand, ways of
sale, style and
extent of domestic and global promotion campaign), but also training
programs for the staff. In the franchising contract, the franchiser duties are also contained.
They must support franchisee in the creation process, in current consulting service, but also
they must guarantee access to innovation, know-how and modification of products On the
other hand, according to the franchising contract, franchisee id obligated to keeping the
conditions and rules set by franchisor (Limański, Drabik, 2010). Franchisee must maintain
the quality, technology and management standards. In addition, franchisee pays the original
fee and current charges (commission and given rate of profit).
There are some advantages for franchisor and franchisee, which indicate that
franchising will be good continuation of entry mode for both, domestic and foreign market.
Foreign partner (Disney) which has high share in domestic and global market.
Putting
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franchising cooperation with a recognizable brand, technological and management
experience, which was worked out thanks to Greenfield investments. The local partner, is a
small enterprise which doesn’t possess their own brand and strong position in the market and
would like to take advantage of the foreign partner’s reputation and skills. The characteristic
of franchising is to maintain close relation and contact between two parties of contract.
More franchising is particularly good in service branches (hotels, restaurants, retail
shops, car rentals, ect.), where high cost of acquisition or rental of real estates in big cities
make a fast transition difficult.
For our chain of Disney restaurants, we have chosen a business-format, indirect
franchising. In result, we’ve choosen one main franchisee (local enterpreneur who knows
market well), who is responsible for formation of chain. They must follow the Disney’s
finance and sale plan, which includes: Disney brand, means of promotion, fixed prices and
quality of service and product. Disney gives franchisee support during creation of restaurant,
system of management and marketing. Franchisee must also take training courses in Disney’s
Greenfield branch to see how our operations take place. They must follow Disney business
rules and Disney has a right to strict control of local partner.
Entry mode in domestic market – The USA
To begin the process of internationalization of the new Walt Disney Company’s
product - a themed chain of restaurants. First, the American market will have to obtain high
level of saturation. Taking advantage of fast proceeding globalisation and broad access to
information for people in all over the world. We have a chance to create a strong, global
position in the restaurant and food service industry. Thanks to the unique atmosphere we want
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to provide, Disney will gain funds and other people regardless of age. What’s more is that
Disney restaurants will become a tempting tourist spot. That is why, restaurants will be set up
in the biggest American metropolis like New York, San Francisco, Boston, Atlanta, Chicago,
Washington, Miami, New Orleans and Houston. At the beginning, new restaurants will be an
investment of Disney. Thanks to Greenfield direct investments, Disney will have the
possibility to do market research and specify the product. The company will examine new
products and get to know the customers’ wants and needs. When the Disney restaurant
achieves a strong position in the domestic market, it will be able to develop a chain of
franchising restaurants in the other markets.
Picture 1. First Disneys’ restaurants in the USA – greenfield investments
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ENTRY MODE IN FOREIGN MARKETS
There are some market conditions which influence Disney restaurants’ expansion
abroad. Mainly, they result from the situation in domestic and global market. Disney decided
to go abroad because:

in domestic market the product is in maturity, saturation stage and producing
want to lengthen the product life-cycle.

competition in restaurants and food industry is high;

the foreign developing markets are in phase of dynamic growth what could be
a great opportunity for Disney Company;

Competitors developed their position in foreign markets so Disney have to
endeavor to achieving competitive advantage, which strengthens and
positions a business better within the business environment.
Disney restaurant aims to achieve increased sales, brand awareness and business
stability by entering a new, foreign market. To take advantage of market entry strategy Disney
will have to prepare an analysis of potential competitors and possible customers. The most
important factors in deciding the viability of entry into a particular market include the trade
barriers, localized knowledge, price localization, competition and export subsidies in some
cases. We are conscious that we have to take some risks into account when we start to enter in
a new markets. We can classify that risks into a groups: weather risk, systematic risk,
sovereign risk, foreign exchange risk, liquidity risk (Geetanjali, 2010). Service firms
typically enter foreign markets with one or a few locations and then expand their geographic
coverage of the foreign market over time in their quest for customers. Disney will lead
international expansion according the economic theory which tells that firms should assume
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risk neutrality. Internalization theory emphazises that firms will maximize profits by
following firstly the highest expected profit opportunities around the globe. The markets they
first should enter under this scenario may be markets that are similar, culturally or in close
proximity, to the ones they are already operating in because the firm might expect customers
in such markets to behave similarly to those they know like their product (Lafointaine,
Laibshon, 2004).
Disney is going to expand its restaurants as a greenfield investment in developed
countries and after that continue with emerging markets. Firstly, Disney restaurants will be
established in Canada, then Australia, Europe (UK, France, Spain, Germany, Italy), next in
Japan, Singapore and after in Brazil, RPA, China, India.
After achieving strong position international markets, Disney will develop a chain of
franchising contracts.
Picture 2. Greenfield direct investment as a first step of intarnationalization
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6. Staffing
In reference to human resource management and workforce, the development of
Disney chain of restaurants worldwide will involve a large number of new employees.
The execution of the project needs to be lead by a high qualified team of managers
from financial to marketing department. High level positions must be occupied by Disney’s
managers with experience and personal skills, in way to ensure the growth of the business.
Therefore a new business unit could be added within the corporate.
Recently, Disney company was estimated one of most admired companies of the
world; as Fortune’s survey revealed more than 4.100 analyst, directors and executives voted
Disney in position No.14.
Considering that, maybe a new figure specialized in restaurants sector, could
strengthen the organization at the headquarter.
Another research (Universum, 2011) between US college students claimed that
Disney group is on top three Dream companies to work for, that means: Disney is not just a
place when dreams come true but working for Disney is also a dream.
Regarding the restaurants abroad, their relative staff will be mostly local. The
construction and opening of every restaurant will represent an opportunity for local
economies.
According to Shien & Wang (2009), there are four factors which Walt Disney should
consider. Firstly, localization construction or localization of human resource that Walt Disney
would figure out whether it should hire local workers to work in local subsidiary or Walt
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Disney may send the expatriates. The advantages of employing local staffs would be they
know the local culture, conditions and preferences. The downside of this approach would be it
can be imitated easily (Johnson et al 2006). Secondly, multicultural coexistence can be the
threat of balancing between parent company and local party due to cultural differences,
possibility of uncertainty conditions, different law and regulation in different countries, and
difference in human resource management. Thirdly, cultural conflict may happen when Walt
Disney and another part have the same objective but different circumstances in term of
culture, social condition, political factor, and economic system. In order to mitigate this issue,
Walt Disney would hire the local manager or intermediary who understands the culture.
Finally, cultural mergence can be successful when the company has localization construction
and multicultural coexistence. Therefore, Walt Disney should notice and respect the
differences between its culture and another country’s culture (Shien & Wang 2009).
As global chain of Disney restaurant needs many people from all over the world who
will have to possess different skills, qualifications , ideas and beliefs. It is indispensable to
take into account that Disney staffing will run a business in complex, volatile environment.
That is why, Disney must implement in its policy international strategy of management of
human resources. The aim of Disney international strategy of management of human
resources is to achieve loyal staff which will be one of company’s the most important
competitive advantage. The Disney staffing strategy relies on controlling of individuals. For
Disney, each employee’s motivation, results, satisfaction are very important. For create and
control Disney restaurant’s staffing we choose Harvard model which indicates 4 factors
influencing companys’ human resources: staffing influence, flow of human resources, system
of remuneration, system of work (Stor 2011).
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Picture 1. Harvard HR managament
Source: Stor, M., 2011, Strategiczne zarądzanie międzynarodowymi zasobami ludzkimi, Wydawnictwo Uniwersytetu
Ekonomicznego w Poznaniu, s.62
7.Marketing
Before starting with the marketing strategies, suggesting an international
environment, some aspects have to be taken into consideration. Disney is considered a global
brand, with a brand value of $29.018 billion (Interbrand 2011).
In the figure below it is reported from Interbrand the main trend of global brands;
Disney holds No. 9 position in 2011.
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Source: Best Global Brands 2011, Interbrand
In addition to a global brand evaluation, the other consideration to make is to analyse the
Transnationality Index’s ratios referred to Disney:
Foreign assests ($ mn)
Total assets ($ mn)
Foreign assets % on total
25,000
72,124
34,66
Source: Data from: The Walt Disney Company Fiscal year 2011 annual financial report
Foreign revenues ($ mn)
Total revenues ($ mn)
Foreign revenues % on
total
10,045
40.893
24.56
Source: Data from: The Walt Disney Company Fiscal year 2011 annual financial report
Foreign employees
Total employees
Foreign employees % on
total
18,923
Source:
149,000
Data
from:
The
Walt
Disney
12,70
Company
Fiscal
year
2010
annual
financial
report
&
corporate.disney.go.com/citizenship2010/dataandgriindex/data/#workplaces
What we can see from accessible data between 2010 and 2011, is that the percentage
of foreign revenues, assets and employers are increasing during the years. Every single ratio
increased from the year 2005 when last TNI available amounted to approximately 20%
(com420fall11.blogspot.it.).
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Disney has well positioned itself on group’s old business, and holds a strong brand
image on customers. A new type of business, in this case, the developing of a chain of
restaurant, has the intention to increase and expand customer’s demand. In a new sector, the
company must take into consideration the “new” competitors as: Hard Rock Café, Planet
Hollywood, Rainforest Café and many others.
To stand into the global competitive restaurant market Disney has to differentiate its
restaurant. Therefore, business strategy aims to gain competitive advantage over its
competitors. Once this is achieved, together with the high attractiveness of the sector, it will
allow the firm higher profits in the future.
A successful positioning process in restaurants and food services industry needs to reinforce
Disney’s marketing.
Marketing strategy for the product
Make the launch of a new product a success and move the business into a new
different sector, corresponds with the screening of new consumers. Coupled with the decision
to enter many, and in some cases new, foreign countries, these choices make marketing
research a crucial point.
Position in Ansoff’s matrix (Ansoff, 1965).
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Whereas the goal is obviously to increase the group’s profits worldwide, some
methods and classifications are useful to distinguish and understand the characteristics of
foreign markets.
The analysis can be conducted through the use of following famous models:

PESTEL

CAGE distance framework

GLOBE

5 dimensions of National culture (Hofstede, 2011)
Later will be discussed about when, and in which cases, these methods should be applied.
History teaches us about failures of past, and recalling the difficulties faced with Disneyland
Park at Paris, the strategy will be based on global localization. The intent is to mix together
standardization and customization so as to minimize group’s costs and maximize customer’s
satisfaction.
By the way, the plan evaluates a combination of standardization and adaptation on products.
The group must act geocentrically in a way to dividing the market into transnational
segments.
To achieve best results, about efficiency and effectiveness, the product has to be
flexible.
At first steps the product starts global with some standardized aspects, then
subsequently requires an adaptation process. The reason behind this choice, is obviously to
control costs, with economies of scale and experience economies when standardization part is
considered, and later when adaptation is suggested, the purpose is to customize things to the
likes of local customers. As already pointed out, adaptation is due to environmental factors, in
fact must be considered also specific, physical and functional differences from one market to
another.
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Therefore during the beginning phase of introduction the products, restaurant’s organization
and food, must to be tested, and if is necessary, adapt to the foreign market’s expected
benefits. That’s one of the reason why it was decided to begin with a greenfield investment
operation; in fact with a directly own Disney restaurant is it easier than other methods to
modify assortment of products and restaurant’s internal process.
There are many challenges to make the product more appealing to every markets.
Language and cultures
Cultural and language barriers influence the marketing strategy, in fact to face the
challenge, it was proposed among how to analyse and point out peculiarities of the markets.
Before starting the business -referred mainly to some countries in which Disney has
not yet a strong presence and knowledge- it is suggested to consider the Global Leadership
and Organizational Behaviour Effectiveness model, in a way to obtain a view of similar
clustered countries.
The GLOBE research provides a cultural classification of countries, through which is it
simple to understand if a country is more or less similar to the U.S. home country and also
which countries are similar to each other.
In addition to that, the table below has been developed with the data regarding
Hofstede’s 5 dimensions on every target country.
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Scores for targeted countries in Hofstede’s 5 dimensions
Country
PDI
IDV
UAI
MAS
LTO
Australia
36
90
51
61
31
Brazil
69
38
76
49
65
Canada
39
80
48
52
23
China
80
20
30
66
118
France
68
71
86
43
39
Germany
35
67
65
66
31
Hong Kong
68
25
29
57
96
India
77
48
40
56
61
Italy
50
76
75
70
34
Japan
54
46
92
95
80
Singapore
74
20
8
48
48
South Africa
49
65
49
63
n.a.
Spain
57
51
86
42
19
UK
35
89
35
66
25
US
40
91
66
62
29
Source: Data adapted from: http://geert-hofstede.com/countries.html
With regard to foreign markets the strategy impose linguistic adaptation. It must take
into consideration the adaptation of the restaurant menus in different languages and eventually
instruction and information-content concerning merchandise.
Further information about linguistic adaptation in different countries will concern advertising.
Legal differences
Referring to legal and political distances between countries two types of tools can be
used: the CAGE distance framework, and also, PESTEL analysis for every single nation.
These instruments pay attention and measure all the key components between countries and
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can be used to assessing target markets. PESTEL analysis evaluates: political, economic,
social, technological, environmental and legal characteristics. CAGE measures distance
between countries in terms of: cultural, administrative, geographic and economic dimensions.
An additional consideration that can be done is about the political risk. This aspect could
heavily influence investment decisions in some countries, especially in emerging markets.
Also, another important factor to take into consideration when analysing legal dissimilarity
between countries, with respect to marketing, are national advertising regulations.
Packaging
Decisions concerning packaging affect products from the shop area. Components as
labelling, dimensions, design, colour, style, quality and functional characteristics, follows
previous Disney Store’s directions. However, these features, when needed, should be adapted
to meet local consumer’s preferences. Principally, information about merchandise should be
written in an understandable language for customer. But the official logo doesn’t change
because it is recognized worldwide.
Advertising
Walt Disney is one of the greatest American advertiser and releases its advertising
message via many types of media: television, magazine, newspaper, internet, radio and
outdoor. Group’s advertising expense was $2.8 billion in 2011 (Disney Company Annual
Fiscal Report, 2011).
The group has become, over the years, one of the world's biggest media
conglomerates; this strength, will help to push its chain of restaurants through a new
marketing campaign.
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Commercials and communication tools, about restaurants, need linguistic adaptation
of content in foreign countries; but this doesn’t represent a major obstacle because company
policies already provide on this matters with other products advertisements.
In Disney case it’s impossible to do not consider the fact that there is a mismatch
between the target of communication and company’s target market. Often, group’s
commercials are directed to children and teenagers but actual buyer of the product is someone
else, for example an older family member. Beside that consideration, must be emphasized
that final target is not composed solely of that segment of consumers, but by a much more
extensive, in this regard the commercials will not be focused only to target the youngest, but
will also focus on adult target.
It is important, when we mention about media environment, to do not miss a new
trend very significant for our business: mobile and apps advertising growth.
In recent years, digital marketing sees the growing number of users, as it’s known
also that the number of children and teens using internet tools is growing fast. That’s the
reason why it’s suggested here, beside the use of classic media (as television and cinema
advertising), to enter some markets with a mobile-apps advertisement.
A recent study (Wireless Intelligence 2011) provides a helpful classification on
which countries are already opened to mobile tools. In the figure below is it shown a list of
target countries which are classified as top broadband economies.
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Country
Number of active mobile broadband
subscriptions per
100 inhabitants
Australia
82.7
Hong Kong 74.5
Italy
59.4
Japan
87.8
Singapore
69.7
Spain
55.7
UK
56.0
US
54.0
Source: ITC the world in 2011
About other target countries not present above, like India and South Africa, we should
consider that respectively 59% and 57% of the web users are mobile-only (www.
mobithinking.com).
In conclusion, a mobile push strategy together with classic media, could be a interesting way
to persuade and drive a new target audience to Disney restaurant.
8. Payment arrangements
The following could be the modes of payment at the Disney Restaurants across all
outlets and Countries.
Normal Cash Payment:
Clients and customers would pay cash upfront for all products and services like
normal restaurants
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Credit and Debit Cards:
Customers could use credit and debit cards at the restaurants. Disney could have tieups with major organizations like Citibank, Standard Chartered, Visa and MasterCard that
would offer incentives and points to customers every time they use the card at Disney
Restaurants. Points could be accumulated to buy Disney Merchandise. Points could also be
used to offer special discounts on Disney Services like theme parks and Disney movies.
Disney Credit Cards:
Similar to Normal Credit cards, but with the use of Disney Credit Cards customers
could avail of greater ‘reward and loyalty’ points. Greater discounts on Disney merchandise
and Disney products could be offered. The concept is similar to credit cards but with better
rewards towards all Disney services
Special Disney Prepaid Cards:
Customers could use Prepaid Disney Cards. They could pay cash at various Disney
outlets for the use of these cards through which they would get special benefits. For example
if the customers paid 10$, they would get credit for 12$. Therefore they would be able to avail
services worth 12$ at the Disney Restaurant. As they continue to ‘recharge’ these cards the
rewards and benefits would keep increasing. For example if you recharge the card for 50$ you
get 70$ worth of products at the restaurant and so on. The greater the denomination and the
use of the cards the greater would be the benefits to the customers. Also similar to credit cards
customers could get free merchandise from Disney. For example if the customers use the card
at the restaurant for value equal to 200$ or more, there would avail of a free Disney
merchandise. This could be one of the ways to increase loyalty towards Disney Prepaid Cards.
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The more the customers make use of the Disney Cards, the greater is the revenue earned by
the Disney Restaurant.
By giving the customers a variety of payment options the restaurant will attract a
wider array of customers and provide them with more convenient options. By offering
rewards and benefits Disney would help in increasing customer loyalty and also help attract
new customers to try the restaurant.
Example of Disney Visa
9. Capital
Disney Company has stable financial situation and improves it year by year.
Revenues for fiscal 2011 increased 7% ($2.8 billion), to $40.9 billion. The net income
attributable to Disney increased 21% ($844 million) to $4.8 billion, and diluted earnings per
share attributable to Disney (EPS) increased 24% to $2.52. Net income attributable to Disney
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for fiscal 2011 included $55 million of restructuring and impairment charges and gains from
the sales of businesses of $75 million (Disney Company Annual Fiscal Report, 2011).
Picture 2. Disney Company revenues in period 2007-2011 ( in million dollars)
Disney Company revenues 2007-2011
(in millions $)
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40
39
38
37
36
35
34
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2011
2010
2009
2008
2007
Source: Disney Company Fiscal Year 2011, Annual Financial Report and Shareholder
Letter
Restructuring and impairment charges contain an impairment of assets that had tax
basis significantly in excess of book value resulting in a $47 million tax benefit on the
restructuring and impairment charges. The gains on sales of businesses included the sale of
Miramax which book value was estiamted on $217 million of allocated goodwill which is not
tax deductible. Accordingly, the taxable gain on the sales of businesses exceeded the $75
million book gain resulting in tax expense of $107 million.
The rise in EPS for fiscal 2011 was a result of higher revenues from MVSPs
(Affiliate Fees) at
Cable Networks, increased guest spending and volumes at Disney
domestic parks and resorts, but also higher advertising revenue at ESPN, lower film cost
write-downs, decreased programming and production costs at the ABC Television Network,
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higher licensing revenue due to the strength of Cars merchandise and a full-period of results
for Marvel, and higher equity income at AETN/ Lifetime. These improvements were partially
offset by higher costs at ESPN and at Disney domestic parks and resorts, lower performance
at company theatrical business, and the inclusion of a full-period of results for Playdom in the
current year, which included the impact of acquisition accounting (Disney Company Annual
Fiscal Report, 2011).. In picture number 2 we can see revenues created according to activity
segment of Disney Company. Essential part of revenues is generated thanks to parks and
resorts. Parks and Resorts revenues increased 10%, or $1 billion, to $11.8 billion due to an
increase of $898 million at our domestic operations and an increase of $138 million at our
international operations. Revenue growth of 11% at our domestic operations reflected a 6%
increase driven by higher average guest spending and a 3% increase due to volume driven by
higher passenger cruise ship days due to the launch of our new cruise ship, the Disney Dream,
in January 2011, and higher attendance. Higher guest spending was primarily due to higher
average ticket prices, daily hotel room rates, and food, beverage, and merchandise spending.
That is why we think thatdevelopment of activity in restaurants and food segment is good
step in Disney Company’s strategy.
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Thanks to the good financial situation of Disney, the company is expected to support
and contribute partially in first phase of new product entry - restaurants greenfield
investements. We count on the possibility to reinvest part of revenues. We are concious that
formation of domestic and gradually also international chain of greenfield restaurants will
demand vast capital input so we have to use also external sources of financing. As a Disney is
respectfull brand, known in all over the world capital rising will not problem. Large
companies have always had a number of options that they could depend on to raise capital for
their businesses. They have always had access to a number of alternatives such as, issuing
bonds, bank loans and equity, venture capital. Disney Company could repurchase shares to
invest in new product. It is common in Disney’s activity. During fiscal 2011, the Company
repurchased 135 million shares of its common stock for approximately $5.0 billion. During
fiscal 2010, the Company repurchased 80 million shares of Disney common stock for $2.7
billion. Venture capital is good way of financing Rather for smaller enterprises which want
go public so it will not be rather appropriate way to Disney Company. Disney can count on
loans thanks to its potential, each institution and bank will be interested in cooperation with
global company. We would like to also take advantage of cooperation with governments and
local financial institutions. To built the biggest Disney park in the world, in Shanghai, Disney
with his partner Shanghai Shendi Group get a loan on 2 miliard dollars from China
Development Bank, Shanghai Pudong Development Bank oraz Bank of Communications.
Tha capital needed to set up Disney restaurants in given market will not demand so much
money like entertiment park greenfield so we think that Disney will not have a problem with
it.
In the second phase of investment in new service of Disney Company – franchising
there is no problem with financing because franchising, itself, is classified as a popular way of
external way of financing. Franchising allows investor to reduce the costs of investements
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connected with development of product in domestic and international markets. It is considered
as a foreign capital for investor. It gives the possibilities to get the loans and it reduces
investment costs thanks to franchisee’s financial contribution.
10. Likely challenges
The challenge for Walt Disney’s restaurant would be before they go globally, there
are many rivals including overseas and domestic competitors in the local market which they
might be more familiar with the market, customers, environmental changes in term of
marketing, politics, law and regulation, and so on. These factors can affect its strategy. There
are the four big strategic issues in competing overseas market that should be considered in
order to become global brand: offering standardized product globally or the product which
matches local preferences in particular country; using the same strategy for all countries or
different strategies; maximize locational advantages by location of production facilities,
distribution centers, and customer service operations; efficient transfer of company’s
capabilities and strengths from one country to another country (Thomson et al 2010).
Due to different in cultural, demographic, and market condition in different
countries, there are some challenges facing Walt Disney such as variations in manufacturing
and distribution costs, cultural differences, fluctuating exchange rates, market demographics
differences, different tastes and preferences of local buyers, and different trade policies. In
order to solve these problems, Walt Disney should research on customer preferences and
marketing before they entry the foreign markets. Also, Walt Disney should adjust its
strategies to fit the local market in the particular country, which can deliver sustainable
growth in the global markets.
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There are characteristics of global competition that Walt Disney should consider.
Firstly, many global rivals compete in the same country markets in order to be the worldwide
leadership. Secondly, its position in other countries affects a company’s competitive position
in one country. Finally, a firm’s performance can affect its competitive advantages.
Before going aboard, Disney should analyze both internal and external conditions by
using SWOT analysis and Porter’s five forces. According to SWOT analysis, strengths of
Disney restaurant would be strong brand recognition among customers and competitors, bulk
of financial supports, high quality of products and services, high financial profile, and
attractive characters which can attract the primary target customers. Disney restaurant will be
able to take advantage all of these strengths, which will contribute to sustainable competitive
advantage. Disney restaurant’s weaknesses would be high investment with high risk, high
operating cost, limited target audiences, and unchanged visual merchandising which can make
it become boring and customers will not stay long time. Due to the weaknesses, Disney
should adjust decoration country by country, which can match to local preferences and also
assist Disney to attract a wider customer segment. Also, Disney would research on the local
market before entrant in order to minimize the risk and maximize the opportunities. The
opportunities of Disney restaurant would be Disney can target wider customer segment which
can increase its revenues and profits. Disney also can seize opportunity of customer brand
loyalty and strong brand recognition to expand into global markets because its customers trust
in its products and services. The threats of Disney restaurant would be intense competition
among rivals in this industry such as Hard Rock café, Planet Hollywood, rainforest (middle to
high price segment), McDonald, KFC, Burger King (lower price segment), different law and
policies in different countries, as well as different customer preferences. These threats can
affect its growth in global markets.
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According to Porter’s five forces (Porter 2008), external conditions play significant
role in analysis. Rivalry among competing sellers is high because the competition in food and
beverage industry is intense. As mentioned before, Disney restaurant’s rivals would be the
restaurant offering middle to high price segment like Hard Rock Café, Planet Hollywood.
Furthermore, the switching costs to another brand are low and the product differentiation is
low. These factors can make this force become very strong. Potential New Entrants is relative
low. The entry barriers are relative high because the large investment is required. The threat
of substitutes is low. The substitutes are not available in the market and the product
differentiation is low. The switching costs are also low. The bargaining power of supplier is
low. The number of suppliers in food and beverage industry is large relative and the switching
costs to another supplier are low. The buyer bargaining power is strong. Buyer costs of
switching to rivals are low and the standard between Disney restaurant and its competitors
might be not different. In order to overcome this threat Disney restaurant will offer the
premium products and services with the same price.
Regarding to greenfield strategies, it can enable Walt Disney to take the advantage of
high control on the subsidiary business in foreign market and also offer opportunities to Walt
Disney to learn how the foreign work and how to deliver the suitable products and services
which can match with local conditions. In order to do this, Disney restaurant might have to
recruit the high talent local managers who know their customer tastes, markets, local rivals,
and law and regulations (Thomson et al 2010). However, there are some disadvantages of
Greenfield strategy. The large investment is required because Disney restaurant needs to set
up the entire operation in that country. When the know-how technology and knowledge
transfer to the local parties, these knowledge and technology can be imitated easily. Owing to
this problem, Disney restaurant would protect itself by licensing agreements and legal
protection (Mayer et al 2009).
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To consider franchising strategies, Disney restaurant can take advantage of sharing
risks between franchisor and franchisee as well as licensing (Lafontaine & Bhattacharyya
1995). These can assist Disney as franchisor to only focus on the resources and monitor
franchisee. However, franchising strategies also have some issues. The quality control across
the countries might be difficult and unequal. The franchisee might not offer the products and
services which do not match with the local buys resulted in Disney restaurant can lose its
reputation in global market (Thomson et al 2010). In this case, Disney restaurant would
probably send the expatriate who is familiar with the Disney system to the destination to teach
the local manager about the Disney system and monitor the franchisee in term of quality
control in order to ensure that the quality across the world is equal. Secondary group, it will
be segment incuding people between 35-55, because they are familiar with Disney’s brand
and they posses adequate budget.
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Summary
In our opinion, theme chain of Disney restaurant is the best way of company’s
activity differentiation. Taking into account fast growing, profitable restaurant and food
service industry, we are convinced that it could be chance to strengthen Disney’s international
position, reaputation and profits. We will go globally so there is several target markets. At the
beginning, the most important will be popular, firm and developed markets (he USA, Canada,
Western Europe) after we will aim at developing markets with vast potential (Brazil, India,
China) but also in developed markets which are cultural different (Japan, Singapore).
Disney’s new service will be addressed mainly to kids and teenagers (2-16) but also families,
and tourists. In reference to Disney chain of restaurant entry mode, it is divided on two
phases. Firstly, greenfield investment, and after chain of master business franchising.
Greenfield investement enable Disney’s specialists team to getting to know customers’ needs,
to discovering the opportunities and risks of markets. When restaurants will achieve strong,
international position it will be easy to attract top franchisees. To achieve goal, Disney must
pay much attention on staffing. Being presented in all over the world, Disney must implement
appropriate international strategy of management of human resources, which make
cooperation between employees working in volatile, dynamic markets easier. Motivated,
qualifated managers could be great source of competitive advantage. In reference to payment
arrangaments, new technology and financial possibilities significally broaden range of
payments devices. Marketing part explains how Disney’s brand plays a key role in the new
business idea. From the calculation of the TNI’ ratios, we can understand that a in terms of
internalization the group is continually growing. It is proposed a combination strategy of
standardization and localization on product, with different methods of analysis concerning the
countries’ characteristics. Once countries are clustered some aspects will need to be adapted.
About advertising, we do not focused only on classic media as TV, but we adopt the digital
marketing’s tools as mobile and apps.
Besides traditional cash payments, customer can take advantage of credit, debit
cards, Disney Credit cards, Special Dsney Prepaids cards. We can not begin whole project
without project of investment financing. Thanks to financial and popular brand’s potential this
task is easier than in case of small enterprise. Growing revenues of Disney Company will
enable it use own capital. Company will have to also cooperate with financial institutions and
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governments of countries to get profitable loans. As Disney is listed on New York Stock
Exchange, it has a possibility repurchase shares to gather indispensable capital. The entry of
new product in international markets is connected obviously with many challenges. To
analyse strengthens, weeknesses, risks and opportunity we used SWOT. The most important
challanges which Disney must take into account are: variations in manufacturing and
distribution costs, cultural differences, fluctuating exchange rates, market demographics
differences, different tastes and preferences of local buyers, and different trade policies. In
order to solve these problems, Walt Disney should research on customer preferences and
marketing before they entry the foreign markets.
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http://advergators2.weebly.com/consumer-analysis.html
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www.reportlinker.com/p0204599-summary/Global-Restaurants-Datamonitor.html
www.reportlinker.com/p0360150-summary/Foodservice-Global-Industry-Almanac.html
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