The paper analyses the marketing design of McDonalds in international markets and how the company has adapted its flavors to match the tastes of the local customers. The study of McDonalds presents interesting case where popular global brands transform their product attributes to meet the local tastes…
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The success of international marketing strategies strongly relates to the ways in which companies design and promote their products. Any errors in designing products to meet customer requirements and evolving market trends can lead to failure in capturing market shares and loss in revenues for the companies. The international environment provides the organization with the scope of marketing products to both local and foreign markets. Multiple strategies are adopted by companies to promote their products to these markets either through standardization of products launched in both local and foreign markets or through adaptation in design and features to match the tastes of the foreign consumers (Hill & Allen, 2007). While standardization in design and features provide the customers with a uniform image that is attached with the product, it may fail to satisfy their needs that are influenced by local environment and cultural factors. Hence localization or adaptation to local tastes and preferences is considered a feasible solution by marketers for promoting market shares and growth (Lamb, Fair & McDaniel, 2009).
McDonalds – the global brand
McDonalds is one of the largest chains of fast food restaurants selling burgers, French fries and host of savories since 1940. The business started with the opening of a fast food outlet in California in the year 1940 and since then the company has grown to become a household name with its presence across different countries (Roth, 2010). The success of the brand is largely attributed to its flexibility in product design and innovation in tastes that has ensured a satisfied customer walking out of its outlets. “In Germany, McDonalds serves beer with meals. In Israel, the first kosher McDonalds opened in Jerusalem in 1995. In Arab countries, the chain used Halal menus” (Paul, 2008). The respect for local tastes and cultures have earned the company its reputation and contributed to its success in global market expansion strategies. The company operates through a number of franchisees across different market regions. Innovation in product design and marketing mix are key determinants of the success behind McDonalds. The fast food service chain gained customer loyalty and trust through its creativity in offering new range of products and flavors. McDonalds recognizes the fact that different cultures support varying customer needs and tastes. It is important to identify the distinctiveness in tastes and adapt its flavors to suit the local customer choice and preference. Market demand and competitive advantage The market demand for any product in any region is influenced by the consumer demographics of the region, industry competition, pricing, quality, and service efficiency of the companies. The competitive environment is one of the key aspects influencing market demand for any product. “Moving from a product and sales philosophy to a holistic marketing philosophy however, gives them a better chance of outperforming competition. And the cornerstone of a well-conceived marketing orientation is strong customer relationships” (Kotler, 1972). McDonalds operates in a highly competitive
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Innovation is a process that requires more meaningful understanding prior the achievement of the necessary process or design that is linked to it. The work at hand first presents the key components of theories regarding innovation prior to the actual introduction of innovation design process applicable to a technological-based company.
Entrepreneurial steps for innovation 8 6. Innovative Organization 9 7. Mergers, partnerships and alliances promoting Innovation 15 8. Conclusion 16 9. References 17 Introduction Innovation and Change have become 'buzz words' in the last one decade (2000-2010) and it is expected to be more buzz during the current and next ten years (2011-2020).
18 7.0 Conclusion 20 8.0 References 22 9.0 Bibliography 26 1.0 Introduction Innovation and change is an important part of any business organisation. An organisation in order to be competitive in a market has to adopt incessant innovation strategies. In this paper, the importance of innovation in present day business environment has been described.
Table of Contents
Skagen Design: Company Overview 3
Analysis of Internal and External Environments 5
SWOT analysis 5
Strengths and Opportunities 6
Weaknesses and Threats 6
Market Choice for Skagen Design 7
China and Business opportunities 7
From this research, it is clear that business model innovation demands the systematic building up of organizational capabilities. One of the golden rules of management is to change proactively when the times are good, not after the crisis has erupted. An innovation-oriented culture is all about creating the right attitude among people.
The design management also encompasses the optimisation of processes that are relevant to the designs. Design management acts as the binding element between management and design. The objective of design management is to connect the events and actions centering round technology, design, design thinking, management, and marketing.
However design and innovation, both have to be focused in the right direction. Both are very essential for the future growth of any company and must be taken seriously. The companies must understand design and innovation can create new
In innovation management, all the new things are viewed from the context of new concepts, which make people and business to move away from the existing solutions (Trott, 2008). Moreover, Dodgson, Gann and Phillips (2013) define innovation management as an important
Analysis 9 3.1. Innovation from a Marketing Perspective 9 3.2. Nature and Importance of Design and Innovation in Insurance 10 3.3. Organisational Theory 12 4.0. Conclusion 16 References 17 Bibliography 22 1.0. Introduction In the current financial dispensation, insurance has captured centre stage of the world troubled financial economy, and has shown impressive growth worldwide.
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