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Case
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Reference no. HLT10-25-24-1064C
Subject category: Marketing
Published by: Hult Publishing
Published in: 2024
Length: 10 pages
Data source: Field research

Abstract

The case describes the history of Silom Steak House, a family-owned restaurant business in Thailand that is at a crossroads. Based on early recognition that Thai people are opening up to Western cuisine and developing a craving for high-quality meat, the owner introduced an innovative (for Thailand) type of restaurant, a steak house. He soon opened a second location. The original business model and all marketing activities remained intact for 10 years, but this approach is unsustainable. The situation has shifted dramatically. What used to be successful eateries, overflowing with customers, now hardly break even. There are multiple external and internal reasons, including changes in customer trends and expectations, and the fact Silom Steak House has done almost no marketing. The case ends by asking students to put themselves in the position of the owner and face the same dilemma. They must determine what issues Silom Steak House faces and which are most important to the company's survival and development, identify and evaluate existing strategic options (closing the restaurants being one extreme), and decide what Silom Steak House's strategy should be moving forward. 

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Abstract

The case describes the history of Silom Steak House, a family-owned restaurant business in Thailand that is at a crossroads. Based on early recognition that Thai people are opening up to Western cuisine and developing a craving for high-quality meat, the owner introduced an innovative (for Thailand) type of restaurant, a steak house. He soon opened a second location. The original business model and all marketing activities remained intact for 10 years, but this approach is unsustainable. The situation has shifted dramatically. What used to be successful eateries, overflowing with customers, now hardly break even. There are multiple external and internal reasons, including changes in customer trends and expectations, and the fact Silom Steak House has done almost no marketing. The case ends by asking students to put themselves in the position of the owner and face the same dilemma. They must determine what issues Silom Steak House faces and which are most important to the company's survival and development, identify and evaluate existing strategic options (closing the restaurants being one extreme), and decide what Silom Steak House's strategy should be moving forward. 

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