The potential for rapid market growth varies
The potential for rapid market growth varies
GENERAL: 1. Demographic: Population size (O): potential increase in US; Age structure: mainly servicing adult between 18-49 years old; Geographic distribution (O): 39 states in the US, 1 in British and 2 in Canada; Ethnic Mix: N/A; Income Distribution: medium or high income (Customers willing to pay the premium). 2. Economic (T): stagnate, increasing food cost price (demotic 3.9%, global 37%) and customers’ dwindling budgets. 3. Political (T): ICE shifts its focus; PETA asked to use CAK; definition of healthy food. 4. Sociocultural (T): Higher wage for CIW. 5. Technological: Prevailing Social media (O); Tortilla grill machine (T). 6.Global: Cultural differences for new stores (T) in international markets. 7. Physical Environment: N/A.…
2. A. Such as McDonald’s and General Mills should change the colors of its logo or packaging depending on the country, because of their own cultures. For example, the yellow signifies happiness in the U.S., the color symbolizes sadness in Greece and jealousy in France. Likewise, when a company decides to do a business globally, they have to segment the market geographically and cater to the different target market’s needs and wants, not from the ones of the home country. The France’s McDonald website is different from America’s.…
A retailer can spend years rolling out a brand in the largest U.S. markets and more years penetrating smaller markets before looking overseas. Today’s globalization makes moving internationally sooner to become a much more attractive opportunity. Retailers call global expansion a key source of revenue and a necessity, not an option, for them. They also see the growth of middle class consumers around the globe as a key driver of these international opportunities.…
* Increased Consumer variation- Within Western Europe there are instances of country separation of important product factors. Consumers have differing tastes locally.…
This paper will discuss the implementation strategies to include factors influencing local and foreign buyer behavior. Discuss the difficulties encountered when trying to research and understand local buyers. The implementation strategy will address which models of consumers’ behavior might be used to examine buyers in local markets and the importance of considering cultural elements to apply these models effectively. This paper will also discuss standardization strategies to include the difference between localization, adaptation and standardization of a global product or service. Discuss the key factors that drive a successful globalization of a new product into a foreign market. Discuss the pros and cons of standardization. Explain methods of integrating a global brand to both local and foreign markets…
In this task I will explain how electronic industry or business operating internationally is affected by cultural differences. I will provide a clear and substantial explanation of how the electronic industry or business operating internationally is affected by cultural differences. I will use a range of relevant examples will support the explanation, demonstrating extensive research.…
There are many companies, foreign and domestic, are competing on the market. Foreign companies had been very successful due to low prices and aggressive advertising, but in recent years most consumers prefer domestic brands.…
Luna,D & Gupta, S.F. (2001). An integrative framework for cross-cultural consumer behavior. International Marketing Review, 18(1), 45-69. Retrieved May 3, 2010, from ABI/INFORM Global. (Document ID: 115719118).…
Cultural factors that can hinder market expansion abroad or local preferences, customs, and attitudes. Just because your product is accepted in one country, another country may not value it. IKEA has been able to rise above the cultural factors in their way by adapting their marketing strategies to each market. For example, in Canada, they incorporate the moose to signify “the north”, or in the U.S., they had to add more media advertising.…
These factors provide insights into behaviour, tastes, and lifestyles patterns of a population. Buying patterns are greatly influenced by the changes in the structure of the population, and in consumer lifestyles.1. http://www.businessteacher.org.uk/business-environments/global-factors-strategy/. Age, gender, wealth, etc all influence the buying patterns and understanding of such changes is essential in order to develop strategies which are in line with the market situations. In the global market it is important that when business strategies are put together the different cultures and societies are taken into account. Religion, language and lifestyle patterns of consumers are all important information for successful business…
4. Customer demand: Though the demand of appliance of US is unattractive but the customers of US prefer the style of European appliance because of its fashionable white-on-white look. In other hand, almost 320 million customers were in…
“It is probably better to stay at home rather than study abroad because of the difficulties a student encounters living and studying in a different culture. To what extent do you agree or disagree with this statement?”…
(Lustig M Koester J 2010 Intercultural competence: Interpersonal communinication across cultures)Lustig, M., & Koester, J. (2010). Intercultural competence: Interpersonal communication across cultures (6th Ed.). Boston, MA: Allyn & Bacon.…
The large household appliance industry and market is significantly large and competitive throughout the world. Large appliances are found in over 90% of North American homes alone- China is right behind them. Europe, Latin America, and Australia’s saturation levels are starting to considerably increase every year. Qingdao Haier is one of the top large appliance manufactures in the world focusing on specialization rather than diversification. Although there is big competition against Haier, their marketing strategies have helped them to increase their profitability. Their key strategy is an expansion into global markets. The objective is to create a localized brand name, which places like America or Europe, can associate themselves with. Other marketing strategies include sub-branding and multi-branding strategies. Localization is important for such a competitive market. Making the consumer feel comfortable and pleased with the product will have them coming back for more.…
Abstract The paper analyses Whirlpool Corporation’s Global Strategy case study conducted in the year 2001. The paper aims to spot key reasons behind the declining performance the company experienced in the late 1990s a few years after the start of its globalization plan in the year 1987. The plan initiated under the new leadership of David Whitwam encountered many problems in its early stages illustrated in a declining profitability in its home market, losses in the European market and failure in some of its joint ventures in the Asian market.1 With such poor performance and failure in achieving competitive edges in global markets, Whirlpool was at a great risk of losing huge investments made in foreign markets, and losing highly-potential market shares in emerging international markets to aggressive competitors. The paper illustrates core strategic mistakes around three main strategies; sourcing and operations, entry, and marketing strategies adopted. The goal is to address lessons learned from Whirlpool’s experience in globalization in order to shed light for future strategies or building globalization plans for small and medium enterprises aiming to have global footsteps. Keywords: Household Appliances, Globalization, Internationalization, International Management, Case Analysis, Whirlpool…