Generally speaking, many companies are interested in the potential cost savings of using the same product and promotional mix on a global basis. It is easier to control the program and less time is required in developing the marketing plan. However, as you have learned, each country has a different culture, and a successful marketing strategy must connect with the local population.
McDonald's is one of the most successful American companies in the global market since it has skillfully adapted its international marketing strategy, and its menu to meet local tastes and preferences thus allowing it to prosper in almost every local environment. You may be surprised to know that McDonald's now earns a majority of its revenues overseas.
Use your module readings, library resources and the Internet to research McDonald's global marketing strategy. Then, respond to the following:
- How do local laws, local taste preferences, and local culture impact McDonald's global strategy?
- How does McDonald's develop long-term relationships in a foreign country through its vendor sourcing strategy and marketing campaigns? Can McDonald's improve this process? If so, how? If not, explain why.
- Have your thoughts on global standardization changed? Please explain why.