Summary of "WHY did the MCDONALD'S FRANCHISE fail in JAMAICA? A brief case study."
The video discusses why McDonald's failed in Jamaica, highlighting the challenges faced by the franchise in the Jamaican market. The main points covered include:
- Introduction of McDonald's franchise in Jamaica in 1995 by Patricia Isaac Green
- Rapid expansion strategy with 12 outlets opened in the first 4 years
- Stiff competition from established local fast food chains like KFC, Taco Bell, and Wendy's
- Operational challenges due to stringent franchising requirements and inability to adapt to local tastes
- Promotions and competitions that failed to resonate with Jamaican consumers
- Economic challenges and market saturation leading to operational losses
- Closure of all McDonald's outlets in Jamaica by 2005 due to high operating costs and inability to meet franchising requirements
- Lessons learned for international franchises on the importance of understanding local market dynamics and consumer preferences
Category
Business and Finance
