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.
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, ...
... middle of paper ...
...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).
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.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Emerging Markets in Developing Countries India is a less developed country (LDC), with a population exceeding one million, an average per capita GDP of $583, low literacy and high infant mortality rates. There are just five phones and two internet users for every hundred people. Yet it is one of the fastest growing knowledge-based industries in the world. With a GDP growth of about 4% compared to 2% for the USA. Likewise, China is even experiencing a growth not less than 8% of GDP annually. Emerging economies, like India, China, Brazil and Russia will become more important as a consequence of high growth rates combined with large populations.... [tags: Economics International Business]
1002 words (2.9 pages)
- 1.) As a whole, the entry of the Europeans into the Asian sea trading network had relatively little effect on the entire system. The entry of the Europeans into the network led to the establishment of new trade routes in the Indian Ocean to the southern Atlantic near the Cape of Good Hope. In water, the Europeans were superior militarily, but on land against fortified Asian settlements, the Asians far surpassed the Europeans technologically. The only superior items that the Europeans had were small, fast sea vessels such as caravels, clocks, and weaponry.... [tags: indian ocean, new trade, neo confucians]
638 words (1.8 pages)
- The most significant job that I have held in the past was being a waitress in an Chinese restaurant. In the middle of June, I saw they were looking for bus waitress, since I was looking for a job so I asked Ms Ling - the gaffer of the waiters and waitress - to hold the position for me until after my graduation. And a week later as expected I became a?waitress?in the A Hong Hong kong & Vietnamese restaurant. As a waitress, I worked there part-time. My basic salary was $10 a day plus tips. Tips were paid daily and basic salary was paid every half a month.... [tags: essay about myself, Personal Experience]
880 words (2.5 pages)
- INTRODUCTION Culture can be seen as a basis for understanding and assessment of human activities and areas of interest, and has been defined by many scholars in different aspects. However, they still have many similarities which often reflect the religious and historical. In the past fifty years, there have been dramatic growths in the economic and political communications across the country, and the immigrants result interleaving or collision across cultures (Tung, 2008). As a result, if the decision makers misunderstood or ignored cultural backgrounds of different nations, it might probably be a high risk of the collapse of the enterprise.... [tags: global markets, international business]
904 words (2.6 pages)
- During the past decade developing markets have been an important source of growth in the global meal solutions marketplace. According to Euromonitor International data, the Eastern European market accounted for 31% of global sales growth (in US$ fixed exchange rate value terms) in the chilled processed food segment over 1998-2007. Meanwhile, the Asia-Pacific region accounted for 35% of growth in sales of dried processed food during the same period. Much of this growth has been driven by indigenous firms which have exploited national and region variations in taste to build strong brands.... [tags: Food Market Business]
1394 words (4 pages)
- The Indian Ocean arena arguable is one of the largest trading networks that had existed in pre-modern history. The changes that occurred in the region from fifteen hundred to eighteen hundred are ones that considerable shaped and changed how the world. With previously connected trade routes connecting large portions of this area through land it was only a matter of time before the sea would lead to the expansion of trade throughout the Indian Ocean arena. With Europeans wanting spices and textiles, the effectiveness to bring these goods back to Europe was going to have to change.... [tags: trading network, pre-modern history, ]
1742 words (5 pages)
- This study will be focusing on analysing the factors responsible for developing Indian consumer perception for digital marketing in Multiple categories Many studies have highlighted Mobile penetration has increased . smartphone subscriptions are set to more than double by 2020 and 70 percent of the world 's population will be engulfed by the movement. "By 2020 there will be 26 billion connected devices," As per the report from ericsson , India added at least 26 million subscribers at a time when the total number of mobile subscriptions in the first quarter of 2015 touched 7.2 billion, including 108 million new subscriptions.... [tags: Smartphone, Mobile phone]
771 words (2.2 pages)
- The Impact Confucius, Gandhi, and Western Ideas had on China, Japan, and India ‘The future depends on what you do today’(Gandhi). In Japan, China, and India each country was faced with similar opportunities, and chose a different path that has impacted their future, setting them aside from one another. When Western countries came into China, India, and Japan, each country reacted differently to the Western ideas that these foreigners brought which would then change the culture. Japan and China secluded themselves from other countries, while India stayed open, inviting modern ideas into its culture.... [tags: chinese history, philosophy]
1515 words (4.3 pages)
Cultural, Economic, Political and Industrial Relation Factors to Consider a Chinese Steel Factory Must Consider to Invest in Britain or Sweden
- China, over the last 30 years or so has achieved extraordinary economic growth, leading to gradual market liberation. Despite this China remains a one nation state with HR practices steeped in Confucianism, however The Chinese government is committed to supporting outward investment for companies looking to expand overseas. (IBM, 2006). There are many influences to consider when deciding which country to invest in, this essay will consider the cultural, economic, political, and industrial relation factors a Chinese steel factory must consider in deciding whether to open a new production facility in Britain or Sweden.... [tags: business strategies and analysis]
1741 words (5 pages)
- Swahili, a word that is known by all, but the meaning and background is foreign. The east African coast is where it originates. With the Indian Ocean as the way of trading, once small villages, began to grow into civilizations that included Arabs. At first, the past of theses trading towns were believed to have started with the Arabs. Later, evidence credits the Arabs for further development, but the true origins come from the indigenous Africans. During the time before 500 CE, the region was known as “Azania.” This reference can be found in a Greek handbook, The Periplus of the Erythraean Sea.... [tags: Africa, East Africa, Arabic language, Indian Ocean]
924 words (2.6 pages)