Compose a 500 words essay on About international expansion. Needs to be plagiarism free!Ruth’s Chris did not consider this approach. Out of the four markets that the company operated internationally

Compose a 500 words essay on About international expansion. Needs to be plagiarism free!

Ruth’s Chris did not consider this approach. Out of the four markets that the company operated internationally, the company noted that the current dining experience it offers its clients would be appropriate for new markets without risking confusion or dilution about the brand. In terms of penetration, Ruth’s Chris considered the option of adding more restaurants in the same market. Plans for implementing this strategy were underway, particularly in the case of new restaurants present in Canada. Nonetheless, the major drawback for affecting this approach is that the restaurants would not be able to offer ubiquitous serves compared to fast food establishments, such as McDonalds. Furthermore, it would not be possible for even for the world’s biggest cities to accommodate more than six steak houses owned by Ruth’s Chris. In terms of market development, the company aims at adding similar restaurants in different markets. This approach is obvious in terms of increasing the revenue of Ruth’s Chris in four global markets, including Hong Kong, Canada, Taiwan, and Mexico. These franchisees would be profitable and provide testimony to the company (Sagepub, 2015).

The diversification approach is the riskiest one for Ruth’s Chris to implement. By introducing new types of restaurants in different markets, the company would be forced to make major investments in the establishment of stores. In addition, the new stores would be different from the mother company, confusing the customers about the operations of the company. For instance, those customers who are loyal to the brand would perceive the different establishments differently, leading to loss of clients. As a result, the company would end up making losses, bringing down the overall competitiveness of the company in the global marketplace.

To attract clients, Ruth’s Chris needs to come up with a strategy that would be appealing to different types of clients with different