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IMG Worldwide Inc recently reached a deal to manage the Chinese Football Association Super League. In my opinion, IMG sees the much greater reward to this venture compared to the risk involved. With the recent hard times facing consumers across the European region, McDonald’s has decided to rethink its strategy due to these external influences, and is beginning to offer discounted deals to increase spending into these markets. This article made me think more critically of the impact of McDonald’s long-term future.
Yes, McDonald’s will always be viewed as low-cost, low quality as long as they implement the strategy that has allowed them to gain so much success. I was recently reading up on Wal-Mart and came across an interesting article on their strategic plans for the Japanese market. Though, given this information, a great deal has changed since Wal-Mart entered Japan ten years ago. Prior to the economic crisis, these consumers may have spent more money to acquire items that made them feel as though they belong within their culture. Second, this article demonstrates the importance of constantly evaluating your strategy because new opportunities do arise and markets are always changing.
Possibly, these circumstances causing Japanese consumers to shop at Wal-Mart, might actually open their eyes to see that low-price does not always mean low quality.
With the 64th Primetime Emmy Awards being held last night, I felt that it was almost necessary to assess the global strategy of production companies, utilizing successful television sit-coms in multiple countries. This strategy of pumping out locally produced versions of popular U.S shows is not just happening in Israel, but many of the emerging markets around the world. This same technique has been used with many shows, such as the Arabic Everybody Loves Raymond and the Chinese version of Glee. With the Western market becoming matured, and ad revenues increasing in developing countries, global markets have become a major interest of U.S.
It truly is amazing how globally connected the world has become even based on consumer taste for television entertainment.
With our world becoming more and more globally connected, we must realize that there are profits to be made if you spend the time to understand your market and customize your product correctly. BlackBerry has found a great deal of success in these countries due to its cheap prices and the dependability of BBM.
With the world economy quickly changing, and new world powers emerging, BlackBerry could sustain profitability if they can continue to provide these countries the cell phone services that they most desire. BACKGROUND and CONTEXT Taking your business global and successfully selling your products and services in international markets can pose many challengers. A market entry strategy is the planned method of delivering goods or services to a new target market and distributing them there.
When an organization makes a decision to enter an new market, there are  various issues that needs to be thought out.
Marketing – which markets, which segments, how to manage and implement marketing effort, how to enter – with intermediaries or directly, with what information? Firms can follow the mentioned steps in sequence to create that successful blend of strategies while entering a new market. Planning these few steps in details would ensure that firms face less risk while entering a new market during expansion.

Have you read our article on the Porter’s Five Forces analysis of industry competitiveness? Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Through the years we have witnessed many multinational companies make costly errors when attempting to sell to a global audience.
When importing or exporting services, it refers to establishing and managing contracts in a foreign country. These options vary with cost, risk and the degree of control which can be exercised over them. Although there is no absolute success mantra to enter a new market, these activities would significantly lower the risk exposure of the firm and create a winning scenario. Our authors are educators from top QS ranked universities and practitioners from multinational enterprises. These errors are primarily explained by a lack of understanding of how Standardization and Adaptation play in international markets. Few companies successfully operate in a niche market without ever expanding into new markets but most businesses achieve increased sales, brand awareness and business stability by entering a new market. The simplest form of entry strategy is often exporting, using a direct (agent) or indirect method (counter trade).
This research paper examines the issues of standardization (global strategy) and adaptation (customization) in global marketing strategy and suggests methods that can guide multinational companies compete effectively and efficiently within the international markets.
Developing a win-win market entry strategy involves a thorough analysis of  multiple factors, in a planned sequential manner. More complex forms include truly global operations which may involve joint ventures, or export processing zones. TV show can be aired in another country and be profitable, however this technique assures that these shows are customized just enough to appeal to their local audience. With globalization, differences between countries have become smaller however they still exist. This onward march of globalization and internationalization of businesses has had a strong impact on how companies view and plan for their global marketing strategy. Consequently, numerous studies have been conducted on whether multinational companies should adapt or standardize international marketing behavior. As companies begin to market its products abroad, one essential strategic decision is whether to use a standardized marketing mix (product, price, place, promotion, people, physical evidence, process management) and a single marketing strategy in all countries or whether to adjust the marketing mix and strategies to fit the unique dimensions of each local market (Vrontis and Thrassou,2007). Adaptation The first view is the standardization standpoint (as proposed by Jain, 1989; Levitt, 1983). According to these authors, supporters of standardization believe that there is a union of cultures with similar environmental and customer demand around the globe.
They argue that trade barriers are getting lower and that technological advances and firms are displaying a global orientation in their strategy.
As they believe, creating one strategy for the global market and standardizing the marketing mix elements can achieve consistency with customers as well as lower costs. Levitt (1983) argues that companies that are managed well have moved away from customizing items to offering globally standardized products that are advanced, functional, reliable and low priced.
According to him, companies can achieve long-term success by concentrating on what everyone wants rather than worrying about the particulars of what everyone thinks they might like.

The fundamental basis of the adaptation school of thought, is that when entering a foreign market one must consider all environmental factors and constraints such as language, climate, race, occupations, education, taste, different laws, cultures, and societies (Czinkota and Ronkainen, 1998). However, researchers have identified important source of constraints that are difficult to measure such as cultural differences rooted in history, education, religion, values and attitudes, manners and customs, aesthetics as well as differences in taste, needs and wants, economics and legal systems. It is important to alter the marketing mixed and marketing strategy to suit local tastes, meet special market needs and consumers non-identical requirements (Vrontis and Thrassou,2007). Other advantages related to economies of scale include improved research and development, marketing operational costs, and lower costs of investment. In addition, standardization is a reasonable strategy at a time where trade barriers are coming down. Finally, following a standardized approach helps companies aim focus on a uniformed marketing mix specifically focusing on one single product, leaving enough room for quality improvement. Since different markets have different needs and tastes, by using the standardized approach, companies can become vulnerable.
This can pose a problem since a number of countries implement trade barriers such as the USA and the European Union (Products and International Marketing, n.a). In response, the company developed a low-cost packaging product and other options that allowed it to offer dramatically less expensive options.
This flexibility not only opened a new market for the company, but also allowed it to develop brand loyalty that consumers could take with them when their income increased and they could afford higher-end products from the same manufacturer.
Yet, when multinational companies exert all their efforts on the extreme position of either approach, they often become unfeasible and incoherent. Gaining the benefits of both approaches requires companies to not only standardize various marketing mix elements and marketing strategies, but also to follow adaptation where essential in order to satisfy apparent market needs. These marketing strategies have confirmed to be effective, indicated by the company’s 7% increase in profit margins over the past four years (Mourdoukoutas, 2012). However, McDonald’s has made every effort to improve them through recent marketing initiatives with respect to the 7Ps.
McDonald’s has begun to renovate its eateries, going from a plastic look to a more brick and wood design in an effort to maintain a contemporary image (Mourdoukoutas, 2012). In addition, the company has begun to offer healthier food products, such as oatmeal, given consumers are more health conscious. Companies can build a strong global marketing strategy with the proper structure, mindset and operating behaviors that achieve a successful balance between standardization and adaptive initiatives. Instead, they should embark on market research and determine their customers, their needs and wants.
Evenly, they need to recognize their distinctive external environmental constraints and benefits of standardization. Also, each element of the marketing mix and market has to be considered and studied in order to understand the merits and shortcomings of each element.

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