1.
- Culture (Hofstede factors):
- Individualism: Canadians prefer personal choice, so offer customizable options in the hot pot experience.
- Uncertainty Avoidance: Canadians may be unsure about new dining experiences, so provide education and promotions to introduce hot pot.
- Wants/Needs: Canadians value health and new experiences. Promote hot pot as healthy, fresh, and a fun, social way to eat.
- Demographics: Target urban areas like Toronto and Vancouver, where diverse, younger populations are more open to trying new foods.
2.
- Direct competitors: Little Sheep Mongolian Hot Pot and Direct Liuyishou Hot Pot.
- Indirect Competitors: Korean BBQ Restaurants Competitors'.
- Competitive Advantages: Some hot pot chains already have brand recognition and loyal customer bases in key Canadian cities.
3. Hai Di Lao’s competitive advantage comes from its great customer service, where staff are attentive and offer special free services. They use fresh, high-quality ingredients and provide a fun dining experience with customizable hot pot choices and easy ordering through technology. The restaurant has a strong reputation for cleanliness and safety, manages its supply chain well, and adapts its menu to fit local tastes when expanding internationally. All these factors help Hai Di Lao succeed in the crowded hot pot market.