Jul 09, 2017 Others

What kind of strategy would you recommend if Roy Choi decided to expand his food truck or restaurant business internationally? Would you recommend product standardization or localization?

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Business 401 Case 3: Strategy for Roy Choi`s Restaurant Business & Xiaomi

Instructions:

Module 3 - Case

Marketing and Strategy

Assignment Overview

For this assignment you will looking at two completely different companies that sell completely different types of products. However, both companies have strong international potential. As you read about in the background materials, different types of products lead to different types of strategies regarding standardization or adaptation and whether you decide to become a global, multi-domestic, or transnational corporation.

The first business you will look at is Roy Choi’s restaurant empire. Choi started out with a single food truck in Los Angeles, but soon gained celebrity status as one of the country’s most famous chefs and the inspiration for the recent movie Chef. Food trucks soon became huge craze in Los Angeles, and Choi has since gone on to open up multiple additional restaurants and even has plans for a fast food chain. His fame and multi-ethnic cuisine gives him large potential if he ever decides to take his business overseas.

The second business to look at is Xiaomi, a Chinese smartphone company that is starting to expand internationally. The smartphone business is a notoriously tough market with dominant competitors such as Apple and Samsung. Xiaomi has gained market share in China and is starting to expand into some neighboring countries. Given the high price of smartphones from Apple and Samsung, there may be room for a lower priced competitor in the global smartphone market.

Do a careful review of the concept of standardization and adaption in Herbig (1998) and the concepts of multi-domestic, global, and transnational strategies in Jeyarathmm, M. (2008) and Steers and Nardon (2005). Then do some research on Roy Choi and Xiaomi in the Trident library or other sources. Here are some articles to get you started:

Walker, T. (2013, Dec 14). Keep on trucking. The Independent [Proquest]

Frausto, M. (2014, Sep 10). Choi`s eyes bigger than his stomach? Orange County Register [Proquest]

Larson, C. (2014, Dec). Xiaomi`s resolution: Double its smartphone sales volume in 2014. Business Week [Proquest and Businessweek.com]

Mozur, P. (2013, Oct 08). How upstart Xiaomi rattled China`s smartphone race. Wall Street Journal [Proquest]

Once you have finished your research, write a four to five page paper answering the following questions:

1. What kind of strategy would you recommend if Roy Choi decided to expand his food truck or restaurant business internationally? Would you recommend product standardization or localization? Which overall strategy would you recommend – transnational, multi-domestic, or global? Explain your reasoning and apply the concepts from Jeyarathmm, M. (2008), Steers and Nardon (2005), and Herbig (1998).

2. What kind of strategy would you recommend for Xiaomi’s international expansion? Would you recommend product standardization or localization? Which overall strategy would you recommend – transnational, multi-domestic, or global? Explain your reasoning and apply the concepts from Jeyarathmm, M. (2008), Steers and Nardon (2005), and Herbig (1998).

 

Assignment Expectations

•Answer the assignment questions directly.

•Stay focused on the precise assignment questions; don`t go off on tangents or devote a lot of space to summarizing background materials.

•Make sure to use reliable and credible sources as your references. Articles published in established newspapers or business journals/magazines are preferred. If you find articles on the Internet, make sure they are from a credible source.

•Reference your sources of information with both a bibliography and in-text citations. See the Student Guide to Writing a High-Quality Academic Paper, including pages 13 and 14 on in-text citations. Another resource is the “Writing Style Guide,” which is found under “My Resources” in the TLC Portal.

Content:

Marketing and Strategy Name Student Affiliation Marketing and Strategy Introduction Marketing is the process by which a firm plans and executes the conception, pricing, promotion, and distribution of ideas, goods and services in order to create exchange with customers while increasing their utility according to individual and organizational objectives. The essay is focused on two companies with the need to grow and expand their products internationally. The purpose of the essay is to identify the best strategies for growth for the two companies that will steer product development in different regions. Standardization and localization are the two sought after strategies but cannot be both relied on. The essay will give a broken down analysis of the best strategies to be used by the two companies. Standardization involves using the same products in a different foreign location while localization involves customizing the products to reach the standards, tastes and preferences of the target foreign market. Strategy for Roy Choi’s Restaurant business In order to increase the demand for Roy Choi’s products in the different locations globally for Roy Choi, the best product strategy for him to use is the localization strategy. This strategy will be appropriate since it will focus on the culture and livelihood of the people involved (Frausto, 2014). The restaurant is mainly based on an English and Korean menu which does not apply in many parts of the world....


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