Part1: Please answer the question in a min of 250 words.
Part 2: Please comment and give your opinion on the student post below. Please answer the the question in a min of 100 words. (Edwin)
The global food market has become competitive more than ever. However, we cannot deny the potential of high profitability in the industry. Food services, precisely fast food, are exponentially growing in popularity, and people are continuously eager to try new foods. Having a small, simple yet unique restaurant in the town, the prospect of expanding business overseas appears quite promising. Franchising is the most suitable mode of entry for the restaurant business. The strategy is built around initiating one franchise in a foreign country and then expanding reach by adding more franchises in nearby regions. Franchising will allow the service to gain leverage over local services of the area and has become one of the most popular ways for businesses to break into new markets.
Part 3: Please answer the question in a min of 250 words.
Part 4: Please comment and give your opinion on the student post below. Please answer the the question in a min of 100 words. (Jasmine)
Since a global brand strategy is more complex than a domestic marketing strategy, there are some differences between the two. Brand equity and cultural differences are two major differences. Companies must have the ability to invoke some awareness in the customer’s mind not just domestically but internationally. It is the collection of liabilities and assets internationally attached to the brand name. Another difference between the strategies are the cultures. It is much easier for a company to develop a marketing strategy for one culture versus multiple. With a global brand strategy, the business must make sure that their brand name, slogan, symbol, etc. is acceptable in all cultures and doesn’t offend anyone.