P8 - Explain how products and processes have to be adapted for international
markets by a selected business
Introduction
While it is critical to explore various expansion methods when deciding to enter a new
market, country, or even geographical part of the world, it is equally critical to consider the
desires and preferences of customers in those locations. There are differences and changes
that must be done around the world in order to accommodate local tastes and needs.
Businesses who trade abroad should think about the implications of these changes and how
much they need to alter. Changes can come at an extra expense, but they may be
necessary to trade in a new market. Adapting your product to meet the needs of an overseas
market is a considerable undertaking and will likely require a substantial investment of time
and money.
Because certain countries, such as the United Kingdom, have left-hand drive automobiles
and others, such as the United States, have right-hand drive cars, car manufacture is a good
example of re-engineering a product. In order to develop a suitable car, a car manufacturer
in the United Kingdom would have to re-engineer their products. Another example is that
some food additives, colours, or ingredients are prohibited in some countries, necessitating
adjustments for local customers.
As a result, when releasing a product in a foreign market, companies might apply a
conventional marketing mix or modify it to the country in which they are conducting business.
We will sell more of a product if we attempt to suit the needs of our target market, according
to basic marketing notions. In international markets, this will entail taking into account a
variety of aspects such as consumer cultural origins, religion, purchasing behaviours, and
personal disposable income levels. In many cases, a company's product and marketing mix
approach will need to be adjusted to match local "needs and wants" that cannot be modified.
McDonald’s
To begin with, Mcdonald's enterprises are typically franchised, which means that the
franchisor can transfer the company's rights to an independent entity, known as the
franchise. The advantages of franchising include lesser risks because it is not an
independent firm with more liability, but it also helps with finances because money is easier
to get when you are a franchised business; and finally, franchised businesses already have
a plan. Mcdonalds also uses the subsidiary business approach, which is when a company is
owned by another company, such as a parent corporation. A subsidiary firm has several
advantages, the first of which is that it can build its own management style and gain its own
brand awareness. Another thing is that the subsidiary may be able to entice customers who
are not interested in the parent company, which opens up the customer market for that
business. These two types of business owners make it simplistic for Mcdonalds to
expand into overseas markets, therefore this allows the franchisor to enhance its
customer base abroad in a larger, global market.
McDonald's methods vary from nation to country because they must undertake extensive
study in order to gather the necessary data for the country they wish to enter. They must
undertake surveys to gain a clear knowledge of the types of things that buyers will want to
markets by a selected business
Introduction
While it is critical to explore various expansion methods when deciding to enter a new
market, country, or even geographical part of the world, it is equally critical to consider the
desires and preferences of customers in those locations. There are differences and changes
that must be done around the world in order to accommodate local tastes and needs.
Businesses who trade abroad should think about the implications of these changes and how
much they need to alter. Changes can come at an extra expense, but they may be
necessary to trade in a new market. Adapting your product to meet the needs of an overseas
market is a considerable undertaking and will likely require a substantial investment of time
and money.
Because certain countries, such as the United Kingdom, have left-hand drive automobiles
and others, such as the United States, have right-hand drive cars, car manufacture is a good
example of re-engineering a product. In order to develop a suitable car, a car manufacturer
in the United Kingdom would have to re-engineer their products. Another example is that
some food additives, colours, or ingredients are prohibited in some countries, necessitating
adjustments for local customers.
As a result, when releasing a product in a foreign market, companies might apply a
conventional marketing mix or modify it to the country in which they are conducting business.
We will sell more of a product if we attempt to suit the needs of our target market, according
to basic marketing notions. In international markets, this will entail taking into account a
variety of aspects such as consumer cultural origins, religion, purchasing behaviours, and
personal disposable income levels. In many cases, a company's product and marketing mix
approach will need to be adjusted to match local "needs and wants" that cannot be modified.
McDonald’s
To begin with, Mcdonald's enterprises are typically franchised, which means that the
franchisor can transfer the company's rights to an independent entity, known as the
franchise. The advantages of franchising include lesser risks because it is not an
independent firm with more liability, but it also helps with finances because money is easier
to get when you are a franchised business; and finally, franchised businesses already have
a plan. Mcdonalds also uses the subsidiary business approach, which is when a company is
owned by another company, such as a parent corporation. A subsidiary firm has several
advantages, the first of which is that it can build its own management style and gain its own
brand awareness. Another thing is that the subsidiary may be able to entice customers who
are not interested in the parent company, which opens up the customer market for that
business. These two types of business owners make it simplistic for Mcdonalds to
expand into overseas markets, therefore this allows the franchisor to enhance its
customer base abroad in a larger, global market.
McDonald's methods vary from nation to country because they must undertake extensive
study in order to gather the necessary data for the country they wish to enter. They must
undertake surveys to gain a clear knowledge of the types of things that buyers will want to
