07-17-2014, 01:44 PM
Check online MGT602 Entrepreneurship Assignment No 2 Solutions Due Date July 18, 2014.
Assignment # 02
TOPIC: “THE MARKETING MIX”
International business is becoming increasingly important to more and more entrepreneurs and to their country’s economy. It offers many growth perspectives. A famous fast food chain “Zest” is operating in USA, UK Pakistan, India, Japan, and Saudi Arabia. The management of “Zest” is focusing on cost reduction. As it is
expanding fast in different countries so its management and controlling costs are increasing. One of the intrapreneur, Mr. Fred, came up with the idea of standardizing the marketing program (standardized product and communication strategy). He believes that the worldwide market place has now become homogenized and
consumer’s need and wants and expectations are almost similar as they are dealing in the fast-food industry. He also highlighted the benefits of using a standardized marketing program in all countries of operation. Economies of scale, lower planning and control leading to lower marketing and advertising costs, a consistent international brand and company image and simplification of coordination of marketing activities and decisions are few of the benefits highlighted by Mr.Fred. The management is inclined by the idea proposed by Mr. Fred but they believe that the cultural, religious and social values of the countries in which “Zest” is operating are different. They fear that it might causes some problems using standardized marketing efforts.
Requirement:
1. What could be the possible problems/ issue that “Zest” would face if it will use the standardized marketing and advertising program?
2. Give your suggestions to the management of “Zest” on how to how to use standardized marketing program more effectively in the given circumstances to get maximum benefit from it. Also give one example of a company using standardized product or communication program.