...Select a Canadian product of your choosing. Select a country to export this product to. Note that this should be a new idea and not something that you have already seen or heard about. Answer the following questions: Real Maple Syrup exporting to the Philippines 1. What social, cultural, economic, legal and/or political differences exist that could be barriers to introducing this product to the country selected? You will need to do some research on the country of your choosing in order to answer this. Ensure to research any trade agreements that exist with Canada and the country of your choosing. If maple syrup were to be introduced to the Philippines one of the main barriers that a company would have to overcome is the pricing of the product. The average monthly disposable income after tax for the Philippines of $330.73 is less than Canada at $2773.50. The price would have a great effect on the likelihood of the citizens of the Philippines to purchase maple syrup would be overshadowed by other necessities that they are required to pay for. Another factor that would make it hard for maple syrup to hit the markets of the Philippines is their love for rice. Rice is the staple food of the Philippines and plays an important part in their diet. I think it would be hard to incorporate maple syrup into dishes that go with rice, as most dishes consist of just fried food, or different soups. 2. Can any of these barriers be overcome? How? I think the price barrier can be...
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...The are some considerations that you will need to be aware of as your company is evolving into a fully integrated global company. Initially the first thing that should come to mind is your business plan. Going global will definitely impact that, and if you do not have a good strategic foundation, your business venture will most likely fail. That being said, marketing will play a huge roll in your venture's success (or failure). The company must realize that a specific marketing campaign that worked, say in Texas or in Georgia, will most likely not work in Japan. In the assigned reading, Schultz and Kitchen mention “no organization will 'achieve globalization' in marketing and marketing communication and be done with it. Instead managers will face continuing change, continuing response to customer needs, continuing challenges from competitors and technology, and continuing change and evolution in relationships and ways of doing business (Schultz & Kitchen, 2000).” A company will never have the perfect marketing plan. Markets are always in flux and marketers must be able to keep up. Going global will take some restructuring since now your company will be competing on a global scale and be dealing with global consumers. The company will have to change the marketing strategy to persuade new consumers to buy their product which will be an issue since they will have different customs and other sociological factors that will play into your marketing strategy. Furthermore, you could also...
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...Globalization When a business goes into the global market, there are both good and bad aspects that must be looked at. The decision to go global affects the business, the laborer, and the consumer all on different levels. Sometimes companies fail to realize this and as they are taking that step to go global, take a few falls as they proceed. The advantages of globalization for a business include the opportunity to gain a bigger market area, which will help to increase sales. They also have the opportunity to hire in other countries, bringing the labor expenses down and the capability for bigger production. With these two facts, a company’s bottom line can have a major change for the better. For the laborer in those countries, it brings in jobs and opportunities that would not be possible without globalization. It will help to stimulate their economy and also create a positive bond between the both countries. And for the consumer, the choices in products and services are made more vast them ever before. It gives them the opportunity to experience the products of other countries without having to actually visit them. The good example of this was the one of McDonalds opening in a different country and even though the weather wasn’t at its best, thousands still came out to have that taste of American Fast Food. For the consumer, there also is less price inflation because of products being made cheaper and companies being able to keep the rise of end costs not as steep...
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...Introduction Walmart's history is one of the best examples of innovation, leadership and success. Walmart was founded by Sam Walton in 1962; it was incorporated on October 31, 1969, and listed on the New York Stock Exchange in 1972. It started with a single store in Rogers, Arkansas in 1962 and has grown to what is now the world’s largest and the most emulated retailer. Some researchers refer to Walmart as the industry trendsetter. Today, this retailing pioneer has annual revenues of over $100 billion, 3,000 stores and more than 750,000 employees worldwide. Walmart operates in each store, from the products it stocks in the warehouse, to the front-end that helps speed checkout. Walmart’s philosophy: provide everyday low prices and superior customer service worked the best. Lower prices also eliminated the expense of frequent sales promotions and sales are more predictable. Walmart has invested heavily in its cross-docking inventory system. Cross docking has enabled Walmart to achieve economies of scale which reduce its costs of sales. With this system, goods are continuously delivered to stores within 48 hours and often without having to stock them. This allows Walmart to refill the shelves 4 times faster than its competitors. Walmart controls its buying power through purchasing in bulks and distributing the goods on time. Walmart guarantees everyday low prices and considers them the one stop shop. Walmart operates in Mexico as Walmex, in the UK as ASDA abbreviation of Asquith...
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...Starbucks: Going Global Fast Ronnie Deaver MKG400 International and Multi-Cultural Marketing Colorado State University – Global Campus Dr. Michael E. Ricco June 19, 2016 Starbucks: Going Global Fast Starbucks is a fast growing and well known US based company focused on penetrating international markets. When entering a new market, there are always associated risks, problems, controllable/uncontrollable elements, and process optimizations. Below is a discussion on the factors contributing to Starbucks expansion into international markets such as Japan. Controllable Elements For any company expanding to a new market, there is a plethora of controllable and uncontrollable elements to consider; some new and some similar to those faced in domestic markets. Interestingly, the controllable factors that Starbucks encountered when entering the global market were similar to those faced in their domestic market; product, price, place and promotion. The Starbuck’s brand name and image connect with millions of customers globally. Starbucks can control and adjust its product to meet the cultural needs and expectations of a market; including price, availability, and their marketing strategy. Using appropriate market research, Starbucks can pre-emptively make certain that their product is the right fit for each of its international locations. According to Starbucks (n.d.), they maintain a high level of success internationally by working with international partners who understand...
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...Case- Starbucks : Going global Fast 1. Identify the controllable and uncontrollable elements that Starbucks has encountered in entering global markets. There are controllable and uncontrollable elements that Starbucks has encountered global markets , where controllable elements refers to the ability of strabucks to overcome the problem and solve it , whereas uncontrollable elements refers to current situation in the market and how they can adapt to it. The case discusses multiple international markets that Starbucks had entered. Japan, France, Italy, Austria, and the Middle East were mentioned. Starting with the Japanese market, the elements that faced Starbucks there were uncontrollable. The first element was the fierce competition in the Japanese market that already existed, and the fact that Japan’s economy had suffered a blow which resulted in an economic depression. Moving on to the next market, which is France. The elements were also uncontrollable because the policies and regulations in the French republic were extremely sophisticated and biased towards the Labour Unions. Going south towards Italy, which is one of those countries that coffee-drinking is embedded in its culture. Starbucks’ Italian mission was faced by a controllable element, which is Starbucks’ own pricing strategy. In a country where the average Italian is used to paying 65cents (North), and 55cents (South) for a cup of espresso, Starbucks offered their espresso for a $1.5. Also, the fact...
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...1. Identify the controllable and uncontrollable elements that Starbucks has encountered in entering global markets. * The Controllable elements that make Starbucks has encountered entering the global market are face the same problems or almost similar with Starbucks domestic market. The controllable elements usually are the marketing mix (4P's), which consist of products, price, place and promotion. First the product name of Starbucks and its brand image can be adjusted in order to adapt into one cultural tastes and expectation. Next, the pricing of Starbuck products is reasonable with the foreign current rates and also their overall country income. Then, Starbuck is also able to take part in market research to be sure Starbucks products can be fit in the right international locations. Besides providing foods and drinks, Starbucks also provide the experience for customers in all around the world. As an example in China, customers in this country prefer to have tea rather than coffee. In this case, Starbucks have to adapt into their country's culture and thus originated some other drinks which can fulfill the needs and demand for customers in China. At all times, there are some elements occurred to be an uncontrollable elements to Starbucks organization itself in entering global market. The political, economy and cultural issues in the foreign countries can occurred at any time and therefore, these are few elements which take into consideration when Starbucks trying...
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...| | |ENTREPRENEURIAL STRATEGY AND GOING GLOBAL | | | |ENTREPRENEURIAL STRATEGY: GENERATING AND EXPLOITING NEW ENTRIES | |STRATEGIES FOR GROWTH AND MANAGING THE IMPLICATION OF GROWTH | |GOING GLOBAL | | | | | |Himma Putri Sholihah (0910233042) | |Khaula Kharisma Zakhrani (0910233043) | | | | | CHAPTER 13 ENTREPRENEURIAL STRATEGY: GENERATING AND EXPLOITING NEW ENTRIES One of the essential things in entrepreneurship is new entry. New entry refers to offering a new product to an established market or new market, offering and established product to a new market, or creating a new organization. To introduce new entry we need entrepreneurial strategy. Entrepreneurial strategy is a set of decisions, actions, and reactions that first generate...
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...COLA WARS: GOING GLOBAL 1. Reading synthesis The Harvard Review article discuss how the 2 most successful cola companies, Coca Cola and Pepsico, had been struggling in the market since they started their operations. The interesting part is how it explained how each one of the companies developed their market in different countries. In this case, it explained the companies history in Mexico, China and India. What I think is more important to understand is that each country has different cultural ideas that affect the companies development among its consumers. For example, in India they had problems with its formula, in China people identify light colored beverages to be healthier and in Mexico first they had price control problems. Another interesting point is that Pepsico has a variety of not only beverages but also their snacks part it’s pretty strong. 2. References: Investigate two references and indicate how they relate to the main argument of the reading. • Andrew Martin, “Does Coke Need A Refill?”; New York Times; May 27 2007; p,C1 The article talks about how Coca Cola’s campaign gets the company to where it is today, they in vested millions on advertising. Also it talks about Coca Cola’s new products and how they achieved even higher sales for the company. IT also explains how the trajectory of Coca Cola made the company that we know today. • “PepsiCo to Spend $1B in China Over Next Four Year,” Yahoo! Finance; November 4...
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...Case 1-1: Starbucks Going Global Fast Andrew Perry MRKT 4343 Global Marketing Professor Douglas Gatton 10 February, 2015 1. Identify the controllable and uncontrollable elements that Starbucks has encountered in entering global markets. Nearly every element that Starbucks has encountered can be controlled in some degree or another. One of the somewhat controllable elements that Starbucks has faced is a resistance in breaking into the already occupied markets. In many places across Europe, well respected coffee chains have already been established and have a decently loyal consumer base. Given the incredible quality of Starbucks’ coffee, a simple price-war could generate new customers quickly. From then, a continued positive reputation will be established for the company and Starbucks’ market share will grow. Once a decently sized market share has been established, Starbucks can then begin to gradually increase their prices, while offering incentives along the way. Before too long, Starbucks have the potential to become a dominate force in Europe which still maintaining high margins through premium pricing. Another obstacle facing them is the skepticism that they use materials that are harmful to the environment, such as Styrofoam. This is of course untrue, but all that matters is what the customers believe. They can overcome this through a marketing campaign designed to clear the air. Also, Starbucks faces sensitive political issues in the Middle East that they will...
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...Executive Summary and Company Summary The name of our organization would be Fun and Games Café. We are going to position ourselves as the only company in Melaka that provides café and also entertainment facilities under one roof. Entertainment facilities that would be provided by us include snooker table, pool table, foosball, arcade games and a mini theater. In fact, there are many reasons for our company to be established. We can say that we do not have a direct competitor but an indirect competitor. This is because in Melaka, there is no other outlet that has this combination of the two concepts together. They either have café by itself or entertainment outlet by itself. The potential for our target market to be attracted is also very high. This is because our target market consists mainly on students surrounding the area especially from Multimedia University and also residents around or within 3 kilometers radius from our Fun and Games Café outlet. As we know the lifestyle of people nowadays they tend to like to enjoy and relax more. Other reasons they can hang out at our place includes social and releases tension. Our start up cost would be RM 121, 600 which a large percentage of it would be borrowed from Public Bank. The estimated break even point would be 2.86 years, though; this could be shorten if the market situation is good and provided we put more initiative and hard work. The sales are expected to grow 40%. We must target a net profit of 14% at least and hold...
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...Going global means new frontiers Introduction On the 19th Sep. 2014, the world’s largest initial public offering (IPO) was successfully completed in the New York Stock Exchange (NYSE), U.S., and the total IPO amount has reached up to $25 billion (Chen. Mac. Solomon. 2014). Alibaba, the miracle creator, used only 15-year’s development to take the seat in the Wall Street and build an e-commercial empire. The NYSE’s IPO is the signal to tell global investors and competitors that Alibaba is ready to join the global market competition. For Alibaba, going global means new frontier, however, the new frontier could be either a barren cliff or cornucopian grassland. In this essay, we will mainly discuss that why Alibaba want to expand global markets, and how Alibaba is going to make the global strategies to against global competitors in overseas market. by avoiding direct competition, targeting similar market as China and increasing firm size in the global market environment to step into a “grassland” market for persistent development. Alibaba -- the world’s largest online and mobile commerce company, was established in 1999 by the group of 18 people led by Jack Ma in Hangzhou, China. There are three main sites in Alibaba China, including T-mall, Taobao and Alibaba.com along with numbers of other companies to support Alibaba’s ecosystem development. Moreover, Alibaba also has Alibaba.com and AliExpress.com to provide worldwide online shopping services (Pressman 2014). Until 2013...
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...[pic] Going global, acting local - communicating global brands to global markets. Student Id : W12030873 Program : International Business management (Year 4) Course Code : IBM1BNN01A Module Code : MK0389 Word Count : 1997 Dead Line : 13/05/2013 Contents page Introduction 3 PART A: Promotion and Branding in Global World 3 Standardized and Localized Strategies 4 Case Study: Nike 5 Case Study: PizzaHut 5 Discussion 6 PART B: Future Environmental issue 6 Changing Social Trends 7 Case Study: Nike 7 Case Study: PizzaHut 8 Conclusion 8 Reference List 9 Introduction With the growing pace of globalization, companies’ marketing departments are faced with a substantial challenge of designing successful marketing strategies promoting their products and services (Keller, 2010). The ongoing academic debate has pointed out the tension between standardization and localization practices (e.g. Whatley, 2012). While the benefits frequently associated with the standardization practice revolve around the promotion of a single consistent message to the global market (Aaker, 1991), the localization paradigm emphasises the particular differences between individual markets and thereby the need to adapt marketing strategies to suit the needs of the local population (Gillespie, Jeanner & Hennessey, 2010). The aim of the presented paper is to critically...
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...Krispy Kreme Doughnuts Going Global? The American doughnut was born in 1847, so the lore goes, when a Maine seaman urged his mother to shove a fork through the center of her "fried cakes." That solved the problem of the cakes' soggy middle and created the doughnut's trademark hole. Today, perhaps the most celebrated of the sweet treats are those fried up by Krispy Kreme Doughnuts Inc., whose hot "original glazed" doughnuts have earned a cult-like following. With virtually no advertising, but an uncanny knack for creating free publicity through the media, the company keeps racking up double-digit gains in sales and profit. Skeptics keep trying to poke holes in the Krispy Kreme mystique-questioning whether the company can maintain its remarkable growth. Some analysts believe its growth rates already are beginning to ease. They also contend that the company's stock remains too rich for most tastes. Their argument appears to hold some water. Krispy Kreme's stock, after skyrocketing at first, trades for less than it did two years ago despite the company's consistent growth record. But the company is unmoved by the pessimists and has no intention of scaling back its aggressive expansion plans, which include Southern California. "We may be in the first or second inning of our market penetration opportunities around the world, including the United States," said Scott Livengood, Krispy Kreme's chairman and chief executive. With 288 stores in 38 states and Canada, Krispy Kreme...
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...Backward Design : Lesson Plan Title: Future Tense Topic: My Plan Course: English Class: Primary 6 Time: 3 hours Teacher: Ayse Algin | Stage 1: Desired Results | Standard F1.2.1 Write in an exchange in interpersonal communication and how to plan their time.Standard F1.2.4 Write to ask for and give data about themselves, their friends and matters around them. | Understanding: * Student will understand how to make positive sentense in the future tene. * Using future tense is important for things which we willl do future. * If we plan our time we can enjoy with it and we can have time to spent with our friends. * How to make plan for future using future tense. | Essential Questions: * What does the plan mean? * How can you plan your time? * How can you invite your friends to play? * What can we plan our time for? * What kind of job students want to be most? | Students will know… * How to use future tense. * What is structure of future tense. | Students will be able to… * Understand future tense structure. * Write positive sentence in future tense. * Write negative sentence in future tense. * Make question in future tense. | ...
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