During the 17th through 19th centuries the British East India Company had monopoly over sea trade. The most popular trade route was the Silk Road, which was a network of many trade routes which originated in China and ended in the Mediterranean Sea and Europe. The Silk Road was used to transport silk, spices, Ivory and other valuable goods to the Middle East and Europe. It took many weeks and months to reach Europe from China and the goods passed through many hands. Woollens, carpets, curtains, precious metals and slaves were traded to Asia.
Now, the whole world is considered as a global village. It is much easier to transport goods from one country to another through ships, freight trains and cargo planes. India exports petroleum products, gems and jewelry, spices, tea, coffee, tobacco etc. India gets crude oil, electrical, optical, technical and medical machinery and equipments, iron, steel etc from other countries.
In order for companies and governments to effectively engage in international trade, they should use some business strategies to their advantage. It is discussed how some MNCs used their marketing and business strategies to expand their global trade.
McDonald’s, a fast-food enterprise has marked its presence in more than 100 countries as of 2020. Ray Kroc purchased and popularised the fast food franchise. He was so invested into making McDonalds a growing enterprise all over America that in 1961 he started Hamburger University to train the employees about quality, service, cleanliness and value. The next strategy was to localise the menu as per the taste of the people living in the country. The best example is in India where it introduced vegetable burgers and dropped beef burgers because the people preferred so. In Middle Easters countries there are beef burgers. Similarly the McDonald’s in USA will have a completely different menu when compared with the McDonald’s chains in Singapore. The next noticeable strategy is its ability and willingness to try out new things. McDonald’s started out with burgers and fries but now there is a wide array of food items like The Happy Meal, McNuggets as well as pancakes and muffins which are served for breakfast.
The next strategy used is their tag line “i’m lovin’ it” which is known all over the world. Their very own clown mascot is very famous in countries like America, Canada and even Australia where it reminds people of their childhood. Their next strategy which is their “Drive-Thru”. Their first Drive-thru was established in Sierra Vista in Arizona to serve soldiers who were not allowed to get out of their vehicles in their military uniforms. McDonald’s also started online delivery and has invested in tech firms to improve their customer interactions and user interface.
Adolf Dassler along with his brother made their first pair of shoes in 1920. He started it with a dream to provide every athlete with the best footwear. Since then the brand has been renowned for its sports related products including clothing, shoes, shirts, bags, watched and other accessories. The company provides team kits to Football Clubs like Real Madrid, AC Milan and Chelsea FC. The next best strategy they use is to engage celebrities to promote their brand. They started out with sports persons but in recent years Adidas started teaming up with influential celebrities like Kanye West, Beyoncé and Pharrell Williams.
Their next notable strategy was straightforward digital marketing campaign. Adidas spent nearly 90% of its marketing budget on digital campaigns and other online efforts. The last strategy is “Putting people first”. Instead of casually interacting with consumers, Adidas takes its time to know them. It collects the data and uses it to give customers a unique and positive experience. This has led to great growth for Adidas.
The company with this highest market capitalisation in the world is also famous for outgrowing their competitors. Apple keeps bringing in new technological advancements in order to stay ahead of their market rivals. Statistics show that you make a visual decision in 4 seconds and it is finalised in 30 seconds. Apple invests heavily in their advertising to make it professional and classy. Apple’s obsession with minimalism is a part of their marketing strategy within the Apple ecosystem.
All Apple products undergo fixed pricing so that they maintain their brand identity. There is a fixed price set for retailers too so that they can distance themselves from cheaper, inferior and low-quality products. According to a survey by Wharton University, a customer acquired by word-of-mouth has almost 16-25% more lifetime than those acquired from other sources.
I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.
If you are interested in participating in the same, do let me know.
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