2.7 W2D1: Factors Influencing Global Markets

Post ID: 3176747

Overview

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Introduction

By now, you should have reviewed this week’s required reading materials and have an understanding of the important concepts. You will now take part in this discussion.

In Chapter 20, you read about “Global Marketing”, a business practice that is crucial to an individual firm and the nation alike. Chapter 20 also discusses the major elements of international global marketing including economic, social-cultural, technological, and political-legal factors, as well as trade barriers. This discussion assignment will center on these concepts.

Instructions

Respond to the given questions:

Task 1: Identify a U.S. based global/international business organization with an international market presence (e.g., McDonald's).

Task 2: Identify one international market that the company (identified in Task 1) serves. Discuss how this foreign market is different in terms of any three of the environmental factors (i.e., economic, social-cultural, technological, political-legal, competition). For example, McDonald's has a presence in South Korea, a market known for its rapid economic growth and collectivistic cultural background. South Korea is also among the world's most technologically advanced and digitally connected countries. It is home to giant technology companies, including Samsung, Hyundai, and LG that compete with the best technology brands across the world (Trade.gov, 2022) While these top companies have helped build the technology landscape of the country, new emerging start-ups are being to gain traction and become serious competition. South Korea is also dealing with a shift in employee mindset. The Gen-Z population value individual happiness over organizational efficiency and are more open to joining a startup, which tends to be more flexible, less hierarchical, and a place where it is easier to find meaning in work compared to corporate counterparts (Yoon, 2022). (***Note, your discussion should be more elaborate and provide supporting information)

Task 3: Find a recent ad (picture or video) that reflects how the company addresses the needs of this foreign market given your discussion in Task 2. Explain why you chose this example and how this ad delivers the brand value and reflects customer lifestyle. For example, McDonald's commercial pasted below shows the needs of the South Korean foreign market by combining the country’s subculture K-zombie craze with their spicy food palate creating a saucy burger. McDonald’s uses the imagery of the chili sauce dripping on the table prior to revealing the burger as an emulation of a K Zombie movies scene along with a dark room and the actress making jerking zombie-like movements. The product released has varying options of chicken or beef patties on the sandwich to position the sandwich to the entire population. South Korean diet is usually based on vegetables, beans, and fish. There is low consumption of red meat in this culture. The South Korean market could be successful with a plant-based spicy sandwich. This product would attract multiple audiences and market demand. In this commercial, the portrayal of the rigid older generation versus the easy-going Gen-X can be identified by the character’s actions showing the culture’s shift in mindset. In an earlier ad, we might have seen the character eating the sandwich while attempting to finish work and feeling stressed; the status quo South Korean.

You must relate your discussion to the elements of the international marketing environment covered in the previous chapters. You can also refer to the video: The New Jjang! Jjang! BurgerLinks to an external site. to support your answer.

Reference McDonald's in South Korea (2022, May 4). The New Jjang Jiang BurgerLinks to an external site. [Video File] [30 sec.].

**When posting a thread, use a subject, "company name and country"(e.g., KFC in China). That will help us to find one another's examples more easily.

Directions

Create your own post. You also need to comment on at least of two of your classmates' posts/threads.

Keep your messages original, intelligible, concise, and effective within 350-400 words per post. Your initial posting is due by Thursday.

Your posts will be evaluated on both the quantity and quality of your contributions, the quality being more important than the length of each post.

Respond to two of your fellow students' remarks on other threads. Your responses (at least of 150 words) should be thoughtful, challenging examples or materials supporting your argument. Note that responses such as "I agree" or "That’s a great point" do not count towards discussion thread participation points. Your two responses are due by Sunday.

Consider quality tips. Did you:

Help solve a problem or lend support?

Challenge an idea or offer some alternatives?

Come up with a creative solution or ask pertinent questions?

Assist someone in clarifying their ideas or offer examples from your personal experience?

Contribute with sound evidence to support your opinion?

Show respect or acknowledge and affirm someone else’s ideas?

Bring a derailing dialogue back on track?