Which Global Entry Strategy is the company using? Explain.
Answering questions that are provided about marketing strategies. The 2nd attachment is an example!
Requirements: at least 2 1/2 pages double spaced
[name removed]
Principles of Marketing MKTG-3803
Professor Cheryl Brown
February 27, 2022
Global Expansion Writing Assignment
Which Global Entry Strategy is the company using? Explain.
Wendy’s uses the strategic alliance strategy to venture to other parts of the globe. This is apparent due to Wendy’s forming partnerships with others, including Rebel Foods and the Sierra Nevada Restaurants (Ruggless, 2020). According to Grewal and Levy (2020, p. 190), authors of Marketing, strategic alliance is when companies work together; they write, “Strategic alliances refer to collaborative relationships between independent firms, though the partnering firms do not create an equity partnership; that is, they do not invest in one another.” By making the partnership, Wendy’s is not agreeing to be part of another company; instead, they are deciding to work with another company. This strategy has multiple benefits, such as combining resources and providing aid with manufacturing and distributing (Strategic Alliances, 2020). Although Wendy’s may be new to the culture and movement of international countries, the other companies can help guide Wendy’s with the partnership.
Which of the three Global Product or Service Strategies is the company most likely to pursue? Explain, discuss.
Wendy’s is most likely to pursue the second strategy of the three global product or service strategies. Grewal and Levy (2020, p. 192) describe this strategy as “sell(ing) a product or similar to that sold in the home country but include minor adaptations.” These “minor adaptations” can result from many things, including food regulation and resource availability (Weedmark, 2018). However, a company’s ultimate reason for product adaptation is to meet the need of its consumers. For example, consumers on one side of the globe must need something cool to combat the heat of its environment; meanwhile, on the other side, it is the complete opposite. Because Wendy’s is attempting to break through in India, one can assume that the company will try to make changes that fit Indian culture to gain attention from customers.
Will their Global Pricing Strategy or their Global Communication Strategy differ from their American strategies? How so? Discuss, describe.
Wendy’s global pricing and communication strategies will most likely differ from the American strategies. For starters, Wendy’s cannot price an item in dollars. The company must research the currency exchange rate and correctly measure the price. The company also must consider issues, including tariffs, quotas, and distribution policies, that may increase the company’s cost (Grewal & Levy, 2020, p. 194). The communication between the company and its consumers should also be concerned. Due to the world’s diversity, a company cannot ignore the language barriers and diverse cultures throughout the globe, especially its consumers’ (Weedmark, 2018). It is easy for a company to put a phrase through Google Translate and post it in its commercial; however, it is difficult to ensure that the saying is grammatically correct and not offensive. Although things may be more straightforward for an American company in America, if it wants to expand its business internationally, it must apply extra research and dedication to ensure consumers are priced correctly and understand the messages a company wants to send.
Which Global Entry Strategy is the company using? Explain.
Tyson Foods Inc. will be using the direct investment strategy. According to Grewal & Levy (2020, p. 191), this strategy is the riskiest strategy as politics and unavoidable mishaps can occur. The company already has multiple subsidiaries in Asia, such as Tyson China Holding Limited and Matsusaka Farm Co., Ltd. (Subsidiaries of the Company). Tyson Foods Inc. is in complete control over these subsidiaries and can decide to attach the new plants to them. As the company has recognized the need for products, Tyson Foods Inc. wants to produce and control the market supply in Asia to form economic growth (Foreign Direct Investment. 2021).
Which Global Product or Service Strategy is the company most likely to pursue? Explain, discuss.
Tyson Foods Inc will be using the “similar product or service with adaptations strategy” (Grewal & Levy, 2020, p. 192). According to the website Tyson to Expand in Asia, Invest $1.3 Billion in Automation, the company wants to expand production to meet the needs of the Asian market. Like in the United States, Tyson Foods Inc. (Hirtzer, 2021) will sell meat and plant-based products. However, the company also sells poultry products with different details. The Any’tizers products are a great example; the products have a variety of spices, such as buffalo and honey BBQ, and forms, boneless wings, chicken fries, popcorn chicken, and bites (Chicken Wings & High Protein Snacks). These products are popular in the US because they cater to American needs, but they may not suit Asian needs. Tyson Foods Inc. will need to apply adaptations to its products even though it is as simple as chicken.
Will their Global Pricing Strategy or their Global Communication Strategy differ from their American strategies? How so? Discuss, describe.
Tyson Food Inc.’s global pricing and communication strategy will differ from the American strategies. Since the country plans to venture to a continent, its research will be much heavier than Wendy’s shifting to another country as the location is so broad. The company must be attentive to each country’s currency and currency exchange. A price in China may not be appropriate in the Philippines. And as time passes, inflation may cause each currency to rise and fall (How does inflation affect the exchange rate between two nations?, 2021). Not only is money a necessary detail, but Tyson Food Inc. must also be cautious of the diverse culture in Asia, especially the underlying artifacts, such as beliefs and assumptions (Grewal & Levy, 2020, p. 183). If a statement is accepted on one side of Asia, it does not guarantee that the whole continent agrees.
Works Cited
Chicken Wings & High Protein Snacks. Tyson® Brand. Retrieved February 25, 2022, from https://www.tyson.com/products/anytizers/
Grewal, D., & Levy, M. (2020). Global Marketing. In Marketing (7th ed., pp. 117–199). essay, McGraw-Hill Education.
Hirtzer, M. (2021, December 9). Tyson to Expand in Asia, Invest $1.3 Billion in Automation. Bloomberg.com. Retrieved February 25, 2022, from https://www.bloomberg.com/news/articles/2021-12-09/tyson-foods-to-add-six-asian-chicken-plants-in-global-expansion
Ruggless, R. R. (2020, December 1). Wendy’s plans 250 cloud kitchens, 150 traditional units in India. Nation’s Restaurant News. Retrieved February 25, 2022, from https://www.nrn.com/quick-service/wendy-s-plans-250-cloud-kitchens-150-traditional-units-india
SEC. Subsidiaries of the Company. Retrieved February 25, 2022, from https://www.sec.gov/Archives/edgar/data/100493/000119312510265708/dex321.htm
Strategic Alliances. Corporate Finance Institute. (2022, January 31). Retrieved February 25, 2022, from https://corporatefinanceinstitute.com/resources/knowledge/strategy/strategic-alliances/
The Investopedia Team (2021, June 30). How does inflation affect the exchange rate between two nations? Investopedia. Retrieved February 25, 2022, from https://www.investopedia.com/ask/answers/022415/how-does-inflation-affect-exchange-rate-between-two-nations.asp#:~:text=However%2C%20inflation%20is%20just%20one,value%20and%20foreign%20exchange%20rate.
The Investopedia Team. (2021, August 29). Foreign Direct Investment (FDI). Investopedia. Retrieved February 25, 2022, from
Weedmark, D. (2018, June 7). A definition of global communication. Bizfluent. Retrieved February 25, 2022, from https://bizfluent.com/facts-7601794-definition-global-communication.html
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