The last thing an organization with potential for international success is to squander the opportunity. Every step in the process must be thoroughly planned and executed. Companies must determine if their product is ready for the international market or needs changes. Companies must also decide on their business approach to conducting business on a larger scale. It is important to fully understand a product’s strengths and weaknesses to accurately ascertain its potential on the international level. Yogurtland and Micromax are two organizations ready to expand to new markets. With an honest assessment of their product and its performance in a potential market, they can make decisions that will lead them to success.
Yogurtland
Yogurtland …show more content…
Yogurtland still gets its core products sold in a new country, and the local tastes are pleased with the additional options. If a flavor becomes wildly successful, Yogurtland could then make the flavor available in more locations. An overall global strategy is not a good fit because it would require each franchisee to ask for approval from the main office before incorporating a new flavor. It would be very difficult to incorporate a transnational strategy because food tastes are extremely diverse throughout the world. The best overall strategy for Yogurtland to employ is multidomestic strategy. The decision process is sped up when product adaptation is combined with a multidomestic strategy. This strategy provides greater ability to business owners by keeping the decision making process in each country so they can create products and improve service in their local markets (Carpenter & Dunung, 2012). This strategy is imperative for product adaptation to succeed. The founder and CEO of Yogurtland, Phillip Chang, said as much when he wrote an email to franchisees stating his vision was to remake the company into a lean, entrepreneurial team that became more agile, responsive and effective (Leung, 2014). Business owners must make the …show more content…
The company has been seriously thinking of expanding out of the Indian market into the international smartphone marketplace. Currently, Apple and Samsung have the market covered, but Micromax may be able to find secure footing due to its lower priced equipment. Micromax is the largest smartphone company in India and is second in the Indian smartphone market to Samsung. The first country targeted for expansion is Russia. The company’s ability to deliver high-end phones and bargain prices has helped it claim 18% of the smartphone market in India (Micromax, 2014). Obviously, Micromax has done a good job inserting itself into the consumer consciousness of India. There is no reason to expect any different result when expanding its market to Russia. Micromax needs to keep is strategy simple. The company has already shown the ability to compete with Samsung, so there is no need to change their product line in order to expand. Micromax needs to keep their products standard from market to market. This is known as straight product extension. This approach meant the company will sell their current products in other countries without changing them (Carpenter & Dunung, 2012). This approach will keep manufacturing costs to a minimum. If the company had to create new products for each market, it would lose its advantage to offer low prices. It is important to understand product standardization does not include
Yogurtland
Yogurtland …show more content…
Yogurtland still gets its core products sold in a new country, and the local tastes are pleased with the additional options. If a flavor becomes wildly successful, Yogurtland could then make the flavor available in more locations. An overall global strategy is not a good fit because it would require each franchisee to ask for approval from the main office before incorporating a new flavor. It would be very difficult to incorporate a transnational strategy because food tastes are extremely diverse throughout the world. The best overall strategy for Yogurtland to employ is multidomestic strategy. The decision process is sped up when product adaptation is combined with a multidomestic strategy. This strategy provides greater ability to business owners by keeping the decision making process in each country so they can create products and improve service in their local markets (Carpenter & Dunung, 2012). This strategy is imperative for product adaptation to succeed. The founder and CEO of Yogurtland, Phillip Chang, said as much when he wrote an email to franchisees stating his vision was to remake the company into a lean, entrepreneurial team that became more agile, responsive and effective (Leung, 2014). Business owners must make the …show more content…
The company has been seriously thinking of expanding out of the Indian market into the international smartphone marketplace. Currently, Apple and Samsung have the market covered, but Micromax may be able to find secure footing due to its lower priced equipment. Micromax is the largest smartphone company in India and is second in the Indian smartphone market to Samsung. The first country targeted for expansion is Russia. The company’s ability to deliver high-end phones and bargain prices has helped it claim 18% of the smartphone market in India (Micromax, 2014). Obviously, Micromax has done a good job inserting itself into the consumer consciousness of India. There is no reason to expect any different result when expanding its market to Russia. Micromax needs to keep is strategy simple. The company has already shown the ability to compete with Samsung, so there is no need to change their product line in order to expand. Micromax needs to keep their products standard from market to market. This is known as straight product extension. This approach meant the company will sell their current products in other countries without changing them (Carpenter & Dunung, 2012). This approach will keep manufacturing costs to a minimum. If the company had to create new products for each market, it would lose its advantage to offer low prices. It is important to understand product standardization does not include