International marketing
International marketing is an important factor in helping organizations to become globally competitive. According to Cateora, Gilly, and Graham (2013), “international marketing is the performance of business activities designed to plan, price, promote, and direct flow of the companies goods and services to consumers of users in more than one nation for profit” (p. 10). International marketing strategies and its efficiency assists in the expansion of an organization. Moreover, the major goals of a marketing manager are to reduce risk and capitalize on returns in profit. Global expansion has developed a tactical imperative for nearly all large organizations and marketing managers have a great deal on their hands in developing, monitoring and changing these strategies. Cultural understanding is plainly essential for an organization expecting to be successful in operating in a host country. As stated by Dawes and Lee, “It is a part of the basic orientation of a country, and anyone who is confused about the environment is more than likely not going to be effective” (as cited in Tangen, 2011, p. 122).
EuroDisney’s and Hong Kong Disney’s poor performance
There were several aspects that contributed to the poor performance that EuroDisney experienced in its first year of operations. The market place was extremely different along with the culture differences from our nation to the host country. The European’s were unwilling to spend the money required to enter the park for its attractions. For a European family to enjoy the park the admissions for a family totaled $280 (“Case 2-1. The not-so-wonderful world of EuroDisney”, 2013). In addition to the park entrance price, the hotels were too expensive as well...
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Orwall, B., & Prada, P. (2002). Disney's new French theme park serves wine -- and better sausage. The Wall Street Journal. Retrieved from http://online.wsj.com/news/articles/SB101589988110403840
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Tangen, K. (2011). Outbound travel of business students in China and India: Enriching the experience not only for students but also for the international communities. Journal of Management Policy and Practice, 12(2), 120-133. Retrieved from http://search.proquest.com.proxy1.ncu.edu/docview/876865204/fulltextPDF/141848A793F73C00C0D/7?accountid=28180
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In 2012, the new CEO of Cedar Fair Entertainment announced a new Long Term Growth Strategic plan for the company. The plan is known as the FUNforward and financial goals for the Company. The CEO is headed in this direction because of the significant barriers to entry and a loyal high-repeated customer base as well as the significant momentum that they have created for the Company over the past two record-setting years (Rotting Flesh Radio RSS, 2012). For example, Kings Dominion is one of the largest theme parks on the East Coast and the loyalty of the younger generation is outstanding. The park is located in an area that is very convenient off of interstate 95. Most parents use the theme park as a baby sitter. They drop their kids off in the morning and pick them up in the afternoon after work. The park is so big and it caters to the younger generation and it adds a new ride every couple of years to make the park even more attractive to its customers.
Disney Consumer Products (DCP) is one of the business segments of The Walt Disney Company. DCP was designed to bring new, exciting and intriguing product experiences across many categories –everything from toys and apparel to books and fine art. DCP as a whole is the worlds largest licensor and thinks of its self as liable for bringing the magic of all things Disney into the consumers homes with products they can enjoy anytime of the year. Revenue for Disney Consumer Products for the year of 2014 was at 3.93 million USD.
Disney is an iconic brand that is recognized internationally. The company is not only loved by children, but by people of all ages, races, and backgrounds. What makes Disney such a beloved brand? Although it is nearly impossible to pinpoint just one reason for their success, Disney’s core values is what makes this company stand apart from the rest. The founder and creator of Disney, Walt Disney, had a vision for the future that integrated imagination, creativity, freedom of expression, and a touch of magic. With all these values melted into one company, the possibilities for success became a reality to the Disney family. When Disney began to expand, so did the company’s philosophies. Keeping these core values rooted within the brand,
The Walt Disney Company is a highly diversified media and entertainment company that has been growing by leaps and bounds since its inception in the late 1920’s. In the past few decades, The Walt Disney Company has expanded into numerous markets and diversified its business greatly. The company states that their corporate strategy is targeted at creating high-quality family content, exploiting technological innovations to make entertainment experiences more memorable, and expanding internationally. Upon studying the happenings of the company throughout the years, it is easy to see that the company is executing this strategy well through numerous strategic moves in the industry.
The Business Lessons behind Disneys Magicalexperiences Comments. N.p., 06 July 2013. Web. 01 Dec. 2013. .
(1) Michel G. Rukstad, David Collis; The Walt Disney Company: The Entertainment King; Harvard Business School; 9-701-035; Rev. January 5, 2009
This paper will assess the corporate culture of Walt Disney, addressing the background of the organization, training and teaching, stories, legends and myths associated with the company, philosophy, values, mission statement and the organizational goals of the company.
Holiday World and Splashin’ Safari is a seasonal theme and water park located in Santa Claus, Indiana. This is also an organization which I have previously worked at for six seasons. Having a slogan of “Number 1 for Family Fun!,” Holiday World strives to provide for their guests two affordable theme parks with a fun and family oriented environment. They also pride themselves on having world-class rides and entertainment, free soft drinks, friendly employees, immaculately clean grounds, and providing outstanding service. Holiday World offers a variety of full-time and seasonal job opportunities which are broken down into different departments. Some of these departments include admissions, entertainment, food and beverage, grounds, lifeguards and slide attendants, maintenance, security, and rides. This report will focus on the food and beverage department. The work environment for food and beverage employees can often be hectic and stressful. Employees are expected to serve quality food to thousands of guests each day in a timely and efficient manner. At the same time, employees must also maintain Holiday World’s reputation as the friendliest and cleanest park in the world. Effectively being able to work in teams plays a huge role in this department.
For example, French people dine with wine at every meal; Disney outlawed alcohol at their park, a blatant disrespect of French culture. Disney had to build kennels for park goers pets, and relax their restrictions on personal grooming, such as red finger nail polish for women. Disney continued to design and build EuroDisney to their liking and profit hopes. For instance, Disney was told that Europeans did not eat breakfast so they designed their restaurants to reflect this belief; when the people started showing up for a bacon and eggs breakfast Disney was unprepared (Cateora & Graham, 2007).
The first theme park opening in 1955 was Disneyland in California. After one full year of construction demands and a total investment of $17 million the Six thousands invitations to the grand opening had been mailed inviting people to experience the magic Disney had created but when the gates opened the Disneyland was far from magical. Workmen were still planting trees, the paint was still wet and the asphalt wasn’t set. The food stalls and restaurants ran out of food due to the high number of people because of counterfeit tickets being sold. Walt Disney didn’t know didn’t know what was going on because his attention was on the live broadcast. The rides broke down shortly after use. When Walt Disney World opened in 1971 the
Executive Summary: The entertainment industry holds the immense potential for growth and development. The industry is constantly evolving and Walt Disney emerge as a global leader and recognized as the world’s second largest media conglomerate in the terms of revenue after Comcast. The Walt Disney Company is a multinational entertainment conglomerate headquartered at California, United States. The company integrated its products into five target segments are as follows: (1) Media Networks (2) Parks and Resorts (3) Walt Disney Studios (4) Disney Consumer Products (5) Disney Interactive.
This is a publicly traded company in the US that has been ding quite well in the recent years. The company’s 10k filing for the year 2014. From this statement, the risks facing the company will be identified classified and suggestions made on how best to mitigate them in the subsequent areas. There are various areas that the risks can arise based on the company’s 10k filling (Mertz, 1999).
A major challenge of doing business internationally is to adapt effectively to different culture. Such adaptation requires an understanding of cultural diversity, perceptions, stereotypes, and values (Hodgett &Luthans, 2005). Doing business overseas has its challenges as well as it rewards.
In conclusion, it can be said that global marketing has been emerged very rapidly in recent years. It has provided various opportunities for the companies to expand their business to the other regions of the word. However, there remain certain environmental issues that need to be considered before entering in to the desired region. These issues can be resolved with designing the strong global marketing plans and strategies, the data for which can be gathered through conducting global market research. Despite numerous issues, one can easily say that globalisation has reduced the global reach of the organizations as well as customers. It would not be wrong to conclude that
The primary goal of The Walt Disney Company is to become one of the world’s leading producers and providers of not only entertainment, but also information (The Walt Disney Company, 2014). The company aims to achieve this by utilizing its immense brand portfolio so as to differentiate services, content, and consumer products. While this is the overall goal, there exist other innate milestones that essentially touch on socially responsible business in enhancing sustainability. They include, but are not limited to; zero net greenhouse gas emissions, whereby the company aims to have reduced net greenhouse gas emissions by 50% by 2020; zero waste, whereby Walt Disney hopes to achieve a 60% reduction in waste from