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Swot Analysis Of Ramen Industry

863 Words4 Pages

Abstract

The goal of this essay is to explore and respond to the research question, “To what extent does the Ramen (Japanese Noodle) restaurant industry in Yuen Long operate as an perfect competitive market or a Monopolistically Competitive market?”

The aim of the investigation is to pursue for diverse characteristic within the Ramen (Japanese noodles) restaurant industry a monopolistically competitive market.

The primary research…

Introduction
There are over 60,000 restaurants in Hong Kong that are competing with each other, however the restaurants all differentiate with each other. The Ramen industry in Hong Kong is well known and popular among people in Hong Kong. There are around 600 Ramen restaurants in Hong Kong already. I will …show more content…

Monopolistic competition is considerably theoretical, it contains four main characteristics which include; differentiated products, low barriers to entry, some degree of monopoly power and many sellers in the market. In the Ramen industry, there are many firms competing with each other. The products they sell are differentiated through, taste, presentation. As most firms sell the famous Shina soba, their way of producing this dish is different. Although they may use the same ingredients, their ingredients could be purchased from different …show more content…

Some degree of monopoly power

Hypothesis
The Ramen industry will be close to a perfectly competitive market.

Customers may choose a particular Ramen restaurant based on customers reviews or from features in a magazine. Also online websites that allow customers to search different restaurant in a certain area. Customers may also choose a particular Ramen restaurant by prices, products or services.

They compete through price and also non-price competition.

Methodology
Both primary and secondary research will be carried out in order to find out how these firms compete.
Review on the characteristic of this market structure which is monopolistically competitive market.
Articles on the website about Ramen market
Food magazine on feature Primary research going to be doing some interviews for the customers and owners. I will prepare some questionnaires and ready voice recorder. I will be questioning 40 customers about the reviews on ramen dish for determining whether they prefer the high quality of the ramen dish or the lower prices. I will be interviewing the owners as I want to know about what the characteristic and the way they differentiate with competitors in the

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