(Texas Chicken) ทำไมถึงสู้ไม่ได้ ทั้งๆ ที่มี ปตท. หนุนหลัง?

Summary

The video discusses the failure of Texas Chicken in Thailand despite nearly a decade of support from PTT. The speaker explains that Texas Chicken struggled to compete with KFC due to deep-rooted consumer habits and the inability to differentiate their product. Despite extensive marketing efforts and promotions, the brand could not gain significant market share. The speaker emphasizes key business lessons: knowing when to stop, the importance of product-market fit over marketing, and the need for even large companies to think like SMEs to avoid overconfidence and missteps in competitive markets.

Takeaways

• 😀 Texas Chicken's failure in Thailand was not just due to competition in the fried chicken business, but it reflects broader lessons for all businesses.
• 🏢 The decision to bring Texas Chicken to Thailand was influenced by PTT's (a large Thai conglomerate) diversification strategy and their desire to expand beyond just oil and gas retail.
• 📈 PTT saw potential in the fried chicken market, especially considering the success of KFC outlets at their gas stations, and believed they could capture market share from KFC.
• 💰 PTT had substantial financial resources, allowing them to experiment with new ventures with minimal impact on the parent company if the venture failed.
• 📉 Despite aggressive marketing and promotions by Texas Chicken, such as offering more free chicken than KFC, they failed to resonate with Thai consumers.
• 🍗 The taste of Texas Chicken's fried chicken was not perceived as special or superior by Thai consumers, unlike KFC's chicken, which had a more distinctive flavor.
• 🔒 KFC has a strong brand presence in Thailand, having been in the market for about 40 years, which has led to a deep-rooted preference for its taste among Thai consumers.
• 📊 Texas Chicken's marketing strategy focused heavily on promotions, but this did not translate into customer loyalty or preference without a strong product-market fit.
• 🤔 Even with a strong backing like PTT, Texas Chicken's failure suggests that even large corporations should approach new markets with caution and act like SMEs to avoid overconfidence and overlooking critical details.
• 🚫 The decision by PTT to discontinue Texas Chicken in Thailand was likely a strategic move to cut losses, highlighting the importance of recognizing when to withdraw from a failing venture.
• 📚 The case of Texas Chicken offers three key lessons: the importance of making decisive actions when a business is not viable, the necessity of prioritizing product quality and fit before marketing, and the need for even large corporations to maintain a cautious and strategic approach in new markets.

Q & A

What is the main reason for Texas Chicken's failure mentioned in the script?

The failure of Texas Chicken is not just about the competition in the fried chicken business, but it's a lesson for everyone's business due to various incidents that occurred.

How long has the speaker been a marketing consultant in Thailand?

The speaker has been a marketing consultant in Thailand for over 10 years.

What is one of the main responsibilities of the speaker as a marketing consultant?

One of the main responsibilities is to observe market trends and directions and to collect every detail.

Why did PTT (Petroleum Authority of Thailand) decide to expand their business into fried chicken?

PTT decided to expand into fried chicken because they saw the success of KFC's branches, especially at PTT gas stations, and wanted to try selling fried chicken themselves.

What was the main marketing strategy of Texas Chicken in Thailand?

The main marketing strategy of Texas Chicken was to offer promotions and giveaways that provided more value than KFC.

Why did the promotions and giveaways not work for Texas Chicken as expected?

Despite the numerous promotions and giveaways, the Thai consumers did not show interest, indicating that the strategy did not resonate with them.

What is the importance of having a proven business location according to the script?

Having a proven business location is crucial as it shows that the business model can sell fried chicken successfully, as demonstrated by PTT's success with their gas stations.

Why did PTT decide to not continue with Texas Chicken?

PTT decided not to continue with Texas Chicken because the impact of failure on the parent company would be minimal due to their substantial financial resources.

What does the speaker suggest as the main reason for Texas Chicken's inability to compete with KFC?

The speaker suggests that the main reason is not just marketing but could be deeper issues, such as the taste of Texas Chicken's fried chicken not being special enough to compete with KFC's established and well-liked taste.

How long has KFC been in Thailand and what impact does this have on the market?

KFC has been in Thailand since 1984, which is around 40 years. This long presence has created a strong brand loyalty and familiarity with the taste of KFC's fried chicken among Thai consumers.

What are the three main lessons the speaker suggests can be learned from Texas Chicken's situation?

The three main lessons are: 1) Knowing when to stop a failing business venture, 2) Understanding that promotions alone are not enough without the right product, and 3) Even with a strong backing, businesses should think and act like SMEs, considering the risks and costs carefully.