For several reasons, global success does not necessarily translate into national success. The modern world’s business history has witnessed failure of many globally recognized brands in local markets. This problem, therefore, could be a potential essay topic for the Writing Task 2 section of the IELTS exam.
The success of big brands, such as McDonald’s and Starbucks, in their home markets did not automatically translate into success in certain countries, such as in Asia. What are the causes of this problem? What solutions can solve it?
- Differences in income levels between customers living in different countries
- Differences in taste preferences between customers living in different countries
- Underestimated national and local competitors
- Other unexpected legal and cultural barriers
- Establishing a team of staff members with solid understanding of local markets
- Adjusting globally successful dishes to make them more local
- Conducting market research to evaluate customers’ willingness to pay
- Building and constantly improving competitive advantages to stand out from competitors
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Wishing to learn an example of how a big business icon of the Western world can fail in the Eastern world? Watch this video by CNBC to understand why Dunkin’ Donuts is struggling to attract Indian customers.