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Tastykake Entering the Foreign Market
Question One
TastyKake is a company that is based in the United States Philadelphia that deals with the production of flowers and food products such as cakes. The company sells its product in about forty-seven companies in the country though it is mainly based in Philadelphia, as seen in the description of the “we’ve been a true Philadelphia phenomenon for over 100 years.” The best entry market strategy to use would be franchising other companies in different countries. This will ensure that the growth of the company is faster, increased profitability, and also the capital required will not be large for the company. Being a company that deals with perishable goods, it would be risky for the company to export the products to different countries, which makes franchising the best option.
Question Two
tastyKake should adopt the concept of consumer-oriented marketing where they should ensure that the products are of high value; that way, the marketing will be done through word of mouth. As explained in the power points, it is ” view marketing activities from the consumer’s point of view.” The method of marketing is whereby the customers evaluate what a product is worth and then compare the product with the possible alternatives. By increasing the value of the product, it gives the product a competitive advantage.
Question Three
Privacy and security considerations in marketing include looking for ways to protect the privacy of the customers. Privacy also matters to the brand of a company as a company that takes measures to protect its customers, then will have an excellent public image. Another consideration is in cybersecurity, where the company has to ensure that they are up to date with the security measures to avoid the theft of their data and also information on their customers. A company needs to consider the privacy and security of its customer’s information.
Works cited
Armstrong, Gary M., et al. Marketing: an introduction. Pearson UK, 2018.
Hughes, Mark Alan. “ENERGY TRANSITIONS ARE BROWN BEFORE THEY GO GREEN.” (2020).