The New Chinese And Indian Markets Essay

The New Chinese And Indian Markets Essay

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For well established brands, a certain hubris can develop whereby the company believes their band and product will have universal appeal in all markets, and their product can obtain matched success across all markets, which typically leads to an overall lack of innovation and development. This was a crime that Oreo became guilty of when trying to move their brand into two new markets, and make their product international.
If It’s Not Broke, It Still Might Need to be Fixed
Kraft, the owners of Oreo, decided to take their success in America and introduce the product into China, and Indian markets. The problem with their ambitious plan, was that Kraft believed since they were so successful, their marketing strategy and even the cookie, needed no alterations and would be just as successful in both of the new markets. This lack of research into the new Chinese and Indian markets, led to sales so poor that the company considered abandoning the new markets all together. Some simple planning ahead of time, could have resulted in a more successful rollout.
Implementing SWOT
Kraft was guilty of hastily moving into these new markets without any real research or development. Kraft could have greatly benefited from performing some basic business evaluations, such as SWOT. SWOT is an acronym for the representation of the analysis of four areas within an organization, strength, weakness, threats, and opportunities. This method would have allowed Kraft to see where their strongest assists were, and what weakness may have existed.
SWOT looks at all of these facets within an organization. In order to be effective, the company needs to honestly evaluate their current position within the market. Had Kraft completed and effective SWOT analysis, ...


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...ket to enter, is through the collection of dada. Though the collection of data, such as surveys and demographic information. With the collection of data, and applied metrics, the company will be able to see if there are any positive correlations working in their favor inside the perspective market, and could even reveal that the prospective market is a hostile one (Cohn, 2015).
Conclusion
Entering into a new market presents certain challenging aspects. These challenges hold true for both start up companies, as well as multi-million dollar organizations. In order to minimize these risks, it is imperative for companies to research their new potential market, and make any adjustments necessary to their product in order to accommodate that specific market. The greatest error that can be made, is the reliance on previous success being a predictor of future profitability.

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