Customer Behaviour Report 2022

Running head: CONSUMER BEHAVIOUR
Consumer behaviour
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CONSUMER BEHAVIOUR
Table of Contents
Introduction................................................................................................................................2
Importance of global business expansion..................................................................................2
Strategic approaches for business expansion.............................................................................2
Conclusion..................................................................................................................................3
References..................................................................................................................................3

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CONSUMER BEHAVIOUR
Introduction
The report is prepared to discuss about the strategic approaches that are often
considered by the business organisations like KFC and McDonalds to expand into a new
location for generating higher revenue and attain competitive advantage in business as well.
The topic will also highlight the importance of influencing consumer behaviours, which has
been possible with the consideration of various factors including the cultural norms, values
and beliefs along with the perceptions of consumers regarding the products and services
delivered (Solomon et al., 2014). All these factors can not only enable diffusion of new
products and services, but will also facilitate the influence on consumer behaviour and
influence them to make purchases from the company as well.
Importance of global business expansion
The fast food chains have aimed at global expansion for the purpose of acquiring
more customers and form a large customer base, furthermore, ensure gaining high level of
profit along with attaining competitive advantage in business too. Few of the major benefits
include the ability to enter new markets, manage diversification of products and services,
gain accessibility to better talent pool consisting of individuals with higher level of skills and
knowledge, exploit the foreign investment scopes and opportunities effectively and gain
competitive advantage in business as well (De Mooij, 2019).
Strategic approaches for business expansion
From the case scenario, it is found that while KFC considered the menu adaptation
policy to ensure meeting the local tastes and preferences of the customers, McDonalds has
also similar kind of strategy to suit the local tastes of customers through delivery of familiar
menu items. To enter the foreign market, i.e., in China, KFC adopted the joint venture market
entry mode or strategy to ensure smooth global business expansion. The Chinese Government