2021 BTEC Business Level 3 - Unit 5: International Business Assignment 3 ( Distinction*) latest updated 2024

2021 BTEC Business Level 3 - Unit 5: International Business Assignment 3 ( Distinction*) Subway is a fast-growing international American fast food restaurant franchise, in the restaurant industry, founded on 28 August 1965 in Bridgeport, Connecticut, United States, by Fred DeLuca, Peter Buck. They are headquartered in Milford, Connecticut, United States. It is owned by Doctor’s Associates, Inc. They primarily sell submarine sandwiches, beverages, and salads. Currently, Subway is in 41,600 locations in 111 countries worldwide. Subway is a Private Limited company (LTD), with Departments of Human Resources (HR), Research and Development (R&D). In this segment I will be explaining how products and processes must be adapted for Subway, an international business. Product adaptation is the process of the firm adapting their products to meet the standards and needs of the local markets or customers. This is important for International companies that export their products as it ensures they meet the regulatory requirements of the local markets. The top four requirements for adaptations are: Culture, Market development, Competition, and Laws. To successfully adapt their product to different markets: Customer Research, Export Research, Competition, and Priorities. Glocalization is a combination of the word's ‘globalization’ and ‘localization.’ This is used to describe a product or service that is developed and distributed globally but is also adjusted to accommodate the user or consumer in a local market. S - The Marketplace for Revision Notes & Study Guides Downloaded by: Ryan24 | Distribution of this document is illegal S - The Marketplace for Revision Notes & Study Guides When Subway enters a ne