Introduction Those how choose to become business owners, face some of the most challenging issues during the idea stage. Sure, we all can agree being our own boss, being able to do as we please and when due to our wealth is great however, it is not as easy as rubbing a genie lamp and making a wish. Selecting the correct strategy to market the product or food, and then make the product appealing to the consumer is key to mastering the business concept. Some may claim starting a business 50 years ago was easier than it is today. All due to the fact, 50 years ago selling outside of one’s own country or having millions of consumers with access to the global market to make purchases was unheard of, like it is now. Now a day, business owners
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Additionally, being able to adapt to the different cultures will be important to perfect the flavors of the food items being sold in the different countries (Herbig, 1998). Initially, this strategy will be challenging for Mr. Choi and his partner, as they will need to travel to the countries in which they are looking to expand their truck food business. Another challenge for Kogi BBQ Truck will to provide their Korean Mexican Taco as a straight product extension, while at the same time master the local cuisine to offer a product adaption of the local culture (Carpenter & Dunung, Chapter 14.3: Standardized or customized products? Challenges and Opportunities in International Business. Flatworld Knowledge., 2012). The main advantage of using this strategy is it allows for Kogi BBQ Truck to modify their products and deliver to the local people some of Kogi BBQ with the taste and flavor of the local culture. Standardization is one drawback of this strategy, as unlike in America, many countries do not eat large servings and this would require altering the amount of food to cook as well as changing the packaging for the food based on each …show more content…
Manufactures like Xiaomi are thriving due the countless number of consumers demanding smart phone technology. When you compare the two cell phone leaders, Apple and Samsung brands have Mack (2012) cornered the market with their phones that are factory-made in China, and now they are facing fierce competition from Xiaomi; who’s also manufactures their phone in China and their sales in 2015 reached 34.7 million phones (Parmy Olsen, 2015). Xiaomi is in a different business strategy than Kogi BBQ Truck, as they manufacture a universal product with a high demand from all countries. The high demand provides Xiaomi with the opportunity to saturate the market with their less expensive phone in other countries with lower incomes. This type of advantage for any business definitely makes it easier to expand globally. Cell phones are built pretty much universal, so to try and customize their phones and other devices to a specific country under the multidomestic strategy would not be beneficial. Ideally, the best strategy for Xiaomi is to use the transnational strategy as they continue to expand their current presence in 12 locations to many more locations around the globe (About Us, 2016). Being able to operate under the transnational strategy will mean very little marketing changes, as well as packaging changes. Additionally, by not limiting themselves to
Additionally, being able to adapt to the different cultures will be important to perfect the flavors of the food items being sold in the different countries (Herbig, 1998). Initially, this strategy will be challenging for Mr. Choi and his partner, as they will need to travel to the countries in which they are looking to expand their truck food business. Another challenge for Kogi BBQ Truck will to provide their Korean Mexican Taco as a straight product extension, while at the same time master the local cuisine to offer a product adaption of the local culture (Carpenter & Dunung, Chapter 14.3: Standardized or customized products? Challenges and Opportunities in International Business. Flatworld Knowledge., 2012). The main advantage of using this strategy is it allows for Kogi BBQ Truck to modify their products and deliver to the local people some of Kogi BBQ with the taste and flavor of the local culture. Standardization is one drawback of this strategy, as unlike in America, many countries do not eat large servings and this would require altering the amount of food to cook as well as changing the packaging for the food based on each …show more content…
Manufactures like Xiaomi are thriving due the countless number of consumers demanding smart phone technology. When you compare the two cell phone leaders, Apple and Samsung brands have Mack (2012) cornered the market with their phones that are factory-made in China, and now they are facing fierce competition from Xiaomi; who’s also manufactures their phone in China and their sales in 2015 reached 34.7 million phones (Parmy Olsen, 2015). Xiaomi is in a different business strategy than Kogi BBQ Truck, as they manufacture a universal product with a high demand from all countries. The high demand provides Xiaomi with the opportunity to saturate the market with their less expensive phone in other countries with lower incomes. This type of advantage for any business definitely makes it easier to expand globally. Cell phones are built pretty much universal, so to try and customize their phones and other devices to a specific country under the multidomestic strategy would not be beneficial. Ideally, the best strategy for Xiaomi is to use the transnational strategy as they continue to expand their current presence in 12 locations to many more locations around the globe (About Us, 2016). Being able to operate under the transnational strategy will mean very little marketing changes, as well as packaging changes. Additionally, by not limiting themselves to