Global Consumer Behavior and Importance of Market Research

Running head: MANAGEMENT
Management
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Table of Contents
Part A...............................................................................................................................................2
Market Orientation.......................................................................................................................2
Global consumer behavior and importance of market research..................................................5
Part B...............................................................................................................................................9
Global market entry, exit strategies.............................................................................................9
Global marketing distribution channels and trade barriers........................................................13
References......................................................................................................................................17

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Part A
Market Orientation
Article 1- Frösén, J., Luoma, J., Jaakkola, M., Tikkanen, H., & Aspara, J. (2016). What counts
versus what can be counted: The complex interplay of market orientation and marketing
performance measurement. Journal of Marketing, 80(3), 60-78.
In the respective article, the authors have been successful in analyzing the fact that
market orientation helps in allowing the companies for viewing the individuals with the subtle
differences in what they will be requiring. The different market oriented organizations take the
time out for asking the customers how satisfied they are with what is offered by the company and
what are the different steps taken by the company to improve their practices. In addition, the
authors have been successful in making it understand that the business revolves the strategic
decisions around the different needs as well as wants of the target market that is inclusive of the
potential customers.
In case of McDonald’s, it is considered to be the global company that tries to follow the
geocentric approach as it perceives the world as the single market. The main aspect which is
being noticed in case of McDonald’s is that they are capable of offering the different food items
at the low cost for everyone which makes the customers feel that they are being valued
(McDonald’s.com, 2020) . Moreover, McDonald’s use the ethnocentric approach through which
the same quality products are being offered to be the customers in the entire global market
especially in Sri-Lankan market as the export market is the extension of the local market.
Additionally, McDonald’s have been capable and successful in introducing the vegan menu such

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as Mc Aloo Tikki Burger (construct absolutely with Aloo) which can be provided to the ones
who are completely dependent on vegetable dishes (Apnews.com, 2020).
McDonald’s have been successful in implementing the market oriented strategy that is
capable of maintaining their effectiveness in the market. The company halted the rapid expansion
wherein they tried to rework on their menu wherein they introduced healthier options for serving
the population of Sri-Lanka in a suitable manner. With the help of the market orientation,
McDonald’s have been successful in taking over the different competitors present in the
economy and it impacted their presence strongly that helped them in becoming one of the most
famous fast food joints after Pizza Hut as there are different options of burgers and French fries
available to the customers that helped them in improving their presence and gain competitive
advantage (Apnews.com, 2020). Moreover, McDonald’s was capable of understanding that the
landscape for food in Sri-Lanka have changed and through this, it has been helpful for them in
improving their progress in a certain manner to improve their progress.
Article 2- Valenzuela-Fernandez, L., Merigó, J. M., & Nicolas, C. (2018). The most influential
countries in market orientation: A bibliometric analysis between 1990 and 2016. International
Journal of Engineering Business Management, 10, 1847979017751484.
In the article, the main aspect that has been highlighted is related to the fact that market
orientation can be complex as well as influential in different other countries as well. the authors
have commented that through proper market orientation, there will be increase in the sales along
with income and there will be high level of increase in the market share which will be
appropriate for the growth of the company and impact the country as a whole. It has been noticed
that market orientation approach is far better than the product orientation aspect as in such

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aspect, the main focus has been entirely on understanding the needs of customers and tailor the
demands of the customers successfully which will be generating high level of income in the
market in a positive manner.
In case of McDonald’s, the main aspect that has been noticed is that they have been
capable of meeting the different demands of the customers in Sri-Lanka in a suitable manner.
However, while trying to meet the demands of customers as per their convenience, the main
disadvantage which has been faced by McDonald’s is lack of innovation which lessens their
chance in innovating new food items which can be liked by the different other groups of people
(Weil, 2017). The Production Orientation is the main concept which has been adopted by
McDonald’s in the Sri-Lankan market wherein the main aspect that is followed by them is “ we
will be delivering the different food items to customers that includes vegetarian or non-
vegetarian or vegan food items, however, there will be no such innovation will be maintained
while producing the food items. For instance- We will be building and manufacturing cars for
you, however, it will be black in color only and this proves that there is lack of innovation in the
same (Valenzuela-Fernandez, Merigó & Nicolas, 2018).
Article 3- Yuan, X., Chu, K., & Cai, S. (2018). When Is Information Quality More Important?:
The Moderating Effects of Perceived Market Orientation and Shopping Value. Journal of Global
Information Management (JGIM), 26(2), 204-232.
The authors in the respective article have been successful in understanding the fact that
with the implementation of the market orientation, there is the continuous improvement of the
effectiveness as well as efficiency which is capable of increasing the customer satisfaction as
well as loyalty. In case of the market orientation, the main aspect which is being looked by the

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company is related to the fact of understanding the different preferences of the customers and
meeting their needs rather than following the trends of the different other manufacturers.
In case of McDonald’s, the market orientation at Sri-Lanka has played a vital role in
understanding the demands of the customers in the respective market. Through the respective
research, the company tries to prepare and deliver the different food items such as Mc Aloo
Tikki along with other vegan products and non-vegetarian products that will be suitable for
meeting the different preferences of the customers as a whole which will be capable of achieving
the customer satisfaction successfully. For McDonald’s or other products, the customer
orientation is highly essential for the achievement of the customer satisfaction for making it
possible to keep the eye on and improve processes (Torelli & Rodas, 2017).
McDonald’s has been capable of gaining competitive advantage against the other
competitors present in the economy through the usage of the Production Concept in Market
Orientation (McDonald’s.com, 2020). In case of McDonald’s while expanding their business
operations at Sri-Lanka, the main aspect that has been noticed is related to the fact that
monitoring of the satisfaction of the customers will be producing important information which
makes it possible to keep the eye on and improve the process. The main motive of McDonald’s
in implementing the Market Orientation Concept is the long term coordination and focus and
generating profitability which will be effective for generating the competitive advantage in the
market successfully.
Global consumer behavior and importance of market research
Article 1- Bronner, F., & de Hoog, R. (2018). Conspicuous consumption and the rising
importance of experiential purchases. International journal of market research, 60(1), 88-103.