Market Adaptation by

What I Know

dbrewb01 — 2025-01-27 18:34:07 UTC

I know that market adaptation is the process of companies adapting to the environment, the people's norms and the preferences of the culture.

Learned

dbrewb01 — 2025-01-27 18:35:00 UTC

I learned that companies make mistakes of not researching the country they go into and assume if it is a big hit in the United States, other countries will love it. I, also, learned that when companies go overseas, the load up on local partners but don't listen to them, and that they do not adapt to the countries marketing channels. I learned the 3 A's also and they are availability, affordability and adaptability.

Want to Know

dbrewb01 — 2025-01-27 18:35:08 UTC

I want to know why some companies don't research before expanding to other countries?

I want to know how long does it take to do the research before they decide to expand to other countries?

Learned

dbrewb01 — 2025-01-28 00:32:45 UTC

More than 80% of the McDonald's worldwide are owned by small to midsize businesspeople and they pay attention to the demands of the area they are in. As in countries that don't eat beef, they change the menu to meet the cultural needs.

Reflection

dbrewb01 — 2025-01-28 00:47:59 UTC

Market adaption is very easy to understand if you want to do business anywhere. Every city/town/state has different needs. Michiganies might not want spicy foods or exotic foods, while Texans go for spicy foods and McDonald's has changed menus from state to state. In New York, if you ask for a tea, you get a sweet tea and you need to ask for a nonsweet tea. In businesses looking to expand in other countries, they also need to look at the culture and adapt.

References

dbrewb01 — 2025-01-28 00:56:52 UTC

Clements, S., Jain, T., Jose, S., & Koellmann, B. (2013, April 2). How Kraft Foods made oreo a global brand. Business Today. https://www.businesstoday.in/magazine/lbs-case-study/story/how-kraft-foods-won-over-customers-in-china-and-india-37539-2013-03-12

Kelly, N. (2015, October 11). The most common mistakes companies make with global marketing. Harvard Business Review. https://hbr.org/2015/09/the-most-common-mistakes-companies-make-with-global-marketing

McDonald’s. (n.d.). Our business model and growth strategy. https://corporate.mcdonalds.com/corpmcd/our-company/who-we-are/business-model-and-growth-strategy.html