Ruth Chris Steak House Case Study

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Ruth’s Chris Steak House (Ruth’s Chris) and its management team are developing a business strategy to ensure continued growth of the company, and franchise. Being a publicly traded company there is a lot pressure to do. The company believed that going international presented tremendous opportunities for growth. Although, when entering international markets many problems, changes, and restrictions may occur. This makes it difficult for companies to become successful in the international market. The management team has to decide whether or not to expand domestically or internationally. Firms like Ruth’s Chris invest in foreign markets for the same basic reasons they invest in their own country, which is to remain profitable and continue growth. When firms are entering international markets they must conduct market research to determine the breadth of competition, track competitive activities, and evaluate the actual and potential impact it may …show more content…
Then I would enter these markets with direct ownerships to start if that foreign market allows. I would open this store as a pre-launch and glocal strategy. This pre-launch/glocal strategy is something P&G did, which has allowed them to become very successful internationally. It allows them to conduct high quality market research in house and allow them to hear consumer feedback. Rather than just jumping right into a market spending a considerable amount of time and money preparing a market is beneficial. Having direct ownership will allow Ruth’s Chris to have full autonym compared to franchising. This includes advertising to build brand awareness and liking, as well as research into consumers and the political system and practices. It will allow cost of failure to be less detrimental long-term. This assumption can be made because opening one store will allow them to discover many things before they expand to