How do the following products reflect changing American cultural values: credit cards, microwave oven, casual business attire, electric cars, senior health supplements? Can you think of another company that adjusts itself to the consumer in relation to the culture of the consumer?
Discussion Week 3
In business there is always a level of innovation involved. Many business owners have a multitude of things they want to accomplish within their business. Expansion maybe on the list or at least in the top five. There is much work, research, networking, deadlines in combed with expanding to other countries. The company must do their due diligence.
In producing food in one country versus another. Researching food in another country is crucial. I chose to expand the chip company to India. The projected completion for this project is six months. Questions and research is ongoing for this kind of extension. Researching the country’s infrastructure is very important. How will your employees get to work? How will you map out the area for marketing? If you provide supply to stores and other vendors. What kind of local distribution companies will you look for?
Researching cost for India is very important also. We must find out average cost of product and production. Cost of living and real estate. Marketing, what are the prime areas of marketing to the people? TV, social media, newspaper etc. It is also good to be culturally sensitive. Learn the language and visit the people whom live there. Get to understand who they are and how they do their daily living. There is paperwork to complete for the expansion. As well as research on fees and customs, tariffs. Additional cost to move goods to other countries. Production could also become local there; which means the employment structure must be reviewed. This ensures the employees are being paid, as well being treated properly. According to their Lara’s and rights in India.
There would need to be several possible changes for the product. This has to match the taste buds of this country. The taste has to be appealing in order for one to by it. This will very from location and area. Other places season their food differently and the pallet will be different as well. It is best to do your due diligence when making a large move as this. The success of this move depends on how well it is constructed.
Panel®, E. (2022, October 12). Council post: Expanding your business internationally? 15 essential things you’ll need to do. Forbes. https://www.forbes.com/sites/forbesbusinesscouncil/2022/05/10/expanding-your-business-internationally-15-essential-things-youll-need-to-do/amp/
Fernando, J. (n.d.). Globalization in business with history and pros and cons. Investopedia. https://www.investopedia.com/terms/g/globalization.asp
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