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International marketing - the case of Mcdonald's - Essay Example
Author : bergstromjaylen
Pages 12 (3012 words)
International Marketing – the case of Mcdonald’s Table of Contents 1. Introduction 1 2. Company Background 1 3. Standardization and Adaptation 2 4. Product Positioning 2 5. Branding 3 6. Marketing Mix 4 7. Analysis 7 8. Internationalization Process Theory 8 9…
Differences in culture, behaviour and customer needs across nations have posed new challenges while also providing new opportunities in international marketing. These have altered the segmenting, targeting of the market and product positioning. Thus international marketing strategy is a comprehensive effort which entails deployment of the marketing mix to create a sustainable advantage in the international market place (Wong and Merrilees, 2007). The right marketing mix and the marketing decision can change the brand perception and enhance the firm’s reputation leading to strong brand performance. The power of global brands can be used as a means of international entry but such brands also have to adapt to cultural and other environmental conditions. 2. Company Background McDonald's is one of the most respected and recognized brands in the world. Its success is ascertained from the fact that the organization has over 33,000 franchisees across the world, operating in 119 countries and serving over 47 million people each day (Han, 2008). McDonald's has achieved success purely because of its ‘think global, act local’ strategy that it has adopted in all its markets. Initially however, McDonald's had an ethnocentric approach to international marketing as it tried to replicate the home country elements overseas. ...