Introduction Fast foods have been very useful to many people. This has provided employment opportunities to many people due to the continuous expansion of the industry. Despite the success achieved, hindrances to expansion have been encountered. This paper seeks to give an in-depth analysis of fast foods. History of Fast Foods The fast food originated in America. This can clearly be illustrated by keen understanding the traditional American culture. The oldest fast food was White castle followed by MacDonald. In early times the main aim of the fast foods was to cater for travellers.
As time continued this perception narrowed and other persons started visiting them. During this time, rejection was evident as people believed that the food prepared was substandard. Currently the perspective has changed with more people visiting the joints. Sales and Employment in the Fast Food Industry The fast food industry has experienced rapid growth in the recent years. This has been achieved by market segmentation into takeaways, leisure locations and street vendors which ensures a larger percentage of the target market is captured. According to data monitor, “The global fast food market grew by 3.9% in 2009 to reach a volume of 208.1 billion transactions.
The compound annual interest grew by 4.6%”, (Data monitor 10). In America, due to the rapid growth, more people have been employed in the industry. This has provided them with income to support their families as well as reduce the number of unemployed people. Despite this, the net income to the workers is not very appealing and necessary measures have to be put into place to ensure they get good returns for their well-done jobs. Due to the busy nature of many people during work days, fast food has been the best option in time saving.
As a result, the sales number has been on the increased. This has been benefit to various stakeholders such as the government through taxation which enables it to run various projects. Competition in Fast Food Industry Competition in this industry is evident due to attraction to many investors as a result of it being rewarding. In order to be a larger market share, various companies have developed and implemented some strategies.
For example, MacDonald which is among the largest fast food company offered its services in smaller sizes and consequently low prices which ensured it won more and more customers. In cases of financial constraints such as the 2008 recession, the industry suffers a lot as customers buy the raw food and prepare it by themselves. Due to the flexibility of customers moving from one fast food to another, the companies have been building brands to gain customer royalty with challenges being encountered. Due to the high completion in the industry, entry into the industry by new investors has been a very hard.
This has ensured that the dominant companies have continued to thrive better and better. Rivalry among the companies is evident as each company tries to win more customers. This has led to various developments that have ensured continuous development. The companies operate online and offline undertakes intensive advertisement and implements various competitive strategies. Conclusion Fast food which originated in America has been of help to many people across the world. It has provided employment to many people and has been a source of income to the government though taxation.
The industry has made significant advances and this has attracted other investors. This has resulted to high competition and rivalry among the companies as they try to win more customers. Works Cited Data Monitor. Global Fast Food. Datamonitor. com, Sep, 2003. http: //www. scribd. com/doc/55793662/Data-Monitor-Fast-Food. 30 October 2011.