Global Marketing Strategy and Practice Essay Example | Topics and Well Written Essays - 1750 words

Global Marketing Strategy and Practice - Essay Example It was founded in the year 1981 in the city of New York (Buffalo Wild Wings, Inc, n. d). Within 2009, the restaurant spread across 652 locations. The organization recently changed the headquarter form Cincinnati to Minneapolis (Buffalo Wild Wings, n. d). The most famous products of the organization are Buffalo wings and various sauces. The organization is popular all over the world as BW3 (Company history, n. d). Over the years, the organization have increased the variety of products with the introduction of more than dozen unique dipping sauces which are served with the special Buffalo style chicken wings. Besides specializing on the Buffalo wings, the restaurant chains have included various appetizers, burgers salads, desserts and refreshment in their menu (menus, n. d). More than 250 units of the restaurant are directly under the operation of the organization and the rest are operated by the franchisees (Franchise info, n. d). Reason for the primary choice of the markets of India , Japan and China could be attributed to the fact that the markets are hugely diversified and the preference of the customers for the fast foods in this part of the world are always at an increasing rate. Another factor which has guided behind the selection of the organization is the fact that the economies in the market of three countries are much more stable among the Asian countries and the organization is expected to deliver its best in the region. Process for the selection of the chosen market: The process of screening of the international market is undertaken by the analysis of the internal and external environment of the potential markets and finally coming to a conclusion regarding the choice of the country. Below is the diagrammatic representation of the screening process Internal environment Size of the market Amount of resource Degree of knowledge External environment Competitive environment Structure of industry Consideration of social, cultural and economic factors. Ana lysis of the market in China for international expansion Market Size: China is the most populous country in the world with a present population of nearly 1.341 billion. The vast population of china attracts business from all industries to invest in Chinese market. Market growth: The substantial growth in the market makes China as the second largest economy of the world after United States (CSR report for congress, 2007). Risk of investment: Initial research regarding the economic conditions interprets the market in china is stable and is capable of facing economic downturns. So any change in the global market scenario will not cause any huge loss for the marketers in China. Internal factors: In China the overall condition of the fast food industry is also very stable and the market keeps going in a rapid rate. China also the presence of various multinational fast food organizations and their figures reflect the fact that adoption to correct business strategies can yield favorable re sults for them (Fast food battle heats up in China, n. d). Market in Japan: Market size: The fast food market in Japan has been one of the most competitive markets in Japan’