Standardization And Adaptation Strategies of Macdonalds, Pepsi, Toyota Essay - 8

Standardization And Adaptation Strategies of Macdonalds, Pepsi, Toyota Motors in International Market - Essay Example This research will begin with the statement that the globalization of the world has totally changed the way to carry out business as companies forced to be precocious concerning the choice of their internationalization strategy. The last few decades have transformed the business world into a marketing mix where companies strive in making globalized decisions to fit the competition spectrum. With globalization, a set of universal needs has developed among people all over the globe, therefore setting a pace for companies to no longer target markets by country. Instead, they target by the segment that congregates groups of citizens from diverse countries with universal needs. This trend is so robustly present in the current world that it creates a completely different class of companies that benefit from international markets. Fascinatingly, the concepts of standardization and adaptation strategies are not new terms in the global marketing perspective. Product strategies of standardizat ion and adaptation experimental investigation have been in existence since the 1970s. Nonetheless, the entry of companies in the international arena does not come effortlessly, for many of these companies are encountered with the challenges of whether to standardize or adapt the essentials of their marketing blend. As stated earlier, the entry of Multinationals in the international market is characterized by some challenges, the researcher will analyze some of the challenges these companies are facing. A final segment of this report will be a recommendation or likely solution to the challenges these companies are facing.

Marketing plan Coursework Example | Topics and Well Written Essays - 500 words - 1

Marketing plan - Coursework Example The service-profit chain is a concept introduced in the Harvard Business Review in 1994. A book describing the concept was published in 1997. According to the description, in the book, the service-profit chain serves to demonstrate the existing relationship between service excellence and a company’s financial growth and performance. According to this concept, profitability and revenue growth come because of customer loyalty. Without customer satisfaction, loyalty does not result. Therefore, organizations strive to ensure that their services exhibit a high-perceived value to the customer in a bid to increase customer satisfaction. It is impossible to achieve high levels of customer satisfaction if the employees do not exhibit high levels of commitment and outstanding competencies (Yee et al., 2009). Therefore, organizations seek to hire individuals with remarkable competencies and empower them through training programs in order to increase their productivity. Empowered employee s are more likely to serve customers in an exemplary manner. The Starbucks Company has relied on the service-profit chain in order to register the evident financial performance. The company invests in human resource development through training programs that empower employee to deliver high-quality customer service. Over the years, the company has applied service innovation in order to ensure that employees serve as a valuable link between the organization and the customers. The company regards employees as partners, a factor that triggers employee satisfaction. The satisfied employees have worked for Starbucks for a long time registering high levels of productivity. Since employees are in a position to deliver service value to customers, the company prides itself with high levels of customer satisfaction (Gold, 2010). Due to the high levels of satisfaction that customers