Identify cultures in selected countries that need to be considered in order to be successful?
It is widely known for its traditional arts as well as its contemporary pop culture one must understand the buying behaviors and decision making of the individuals. To become a global firm, ideally company should be taking gains of R&D, production, marketing, and financial advantages in its cost and reputation that are not available purely to domestic competitors. It minimizes importance of national boundaries and develops transitional brands. it raises capital, obtains material and components and manufactures and markets its good wherever it can do the best job. To access opportunities around the world, Mr.Durant should answer some basic questions like:
- what market position should we try to establish in our country, in our
economic region and globally?
- Who will be our global competitors and what are their strategies and resources?
- where should we produce or source our products?
- What strategic alliances should we form with other around the world?
Mr. Durant identifies the developing countries where the hyper mall structure has just began and then need to check whether their government rules and regulations pertaining to retail hyper malls. After deciding the country Mr. Durant need to check the demand supply gap in that market and try to reduce the supply chain gap, so that their cost of purchase become less and in the similar fashion they can offer good discounts to their customers. Also if the demand supply gap is more because of their global presence, Mr. Durant can import the products from the other countries.