Marketing Design and Innovation Essay Example | Topics and Well Written Essays - 2000 words

Marketing Design and Innovation - Essay Example The success of international marketing strategies strongly relates to the ways in which companies design and promote their products. Any errors in designing products to meet customer requirements and evolving market trends can lead to failure in capturing market shares and loss in revenues for the companies. The international environment provides the organization with the scope of marketing products to both local and foreign markets. Multiple strategies are adopted by companies to promote their products to these markets either through standardization of products launched in both local and foreign markets or through adaptation in design and features to match the tastes of the foreign consumers (Hill & Allen, 2007). While standardization in design and features provide the customers with a uniform image that is attached with the product, it may fail to satisfy their needs that are influenced by local environment and cultural factors. Hence localization or adaptation to local tastes and preferences is considered a feasible solution by marketers for promoting market shares and growth (Lamb, Fair & McDaniel, 2009). McDonalds – the global brand McDonalds is one of the largest chains of fast food restaurants selling burgers, French fries and host of savories since 1940. The business started with the opening of a fast food outlet in California in the year 1940 and since then the company has grown to become a household name with its presence across different countries (Roth, 2010). The success of the brand is largely attributed to its flexibility in product design and innovation in tastes that has ensured a satisfied customer walking out of its outlets. â€Å"In Germany, McDonalds serves beer with meals. In Israel, the first kosher McDonalds opened in Jerusalem in 1995. In Arab countries, the chain used Halal menus† (Paul, 2008). The respect for local tastes and cultures have earned the company its reputation and contributed to its success in global market expansion strategies. The company operates through a number of franchisees across different market regions. Innovation in product design and marketing mix are key det erminants of the success behind McDonalds. The fast food service chain gained customer loyalty and trust through its creativity in offering new range of products and flavors. McDonalds recognizes the fact that different cultures support varying customer needs and tastes. It is important to identify the distinctiveness in tastes and adapt its flavors to suit the local customer choice and preference. Market demand and competitive advantage The market demand for any product in any region is influenced by the consumer demographics of the region, industry competition, pricing, quality, and service efficiency of the companies. The competitive environment is one of the key aspects influencing market demand for any product. â€Å"Moving from a product and sales philosophy to a holistic marketing philosophy however, gives them a better chance of outperforming competition. And the cornerstone of a well-conceived marketing orientation is strong customer relationships† (Kotler, 1972). Mc Donalds operates in a highly competitive