International Marketing final term paper on any brand from 'Interbrand

International Marketing final on any brand from 'Interbrand top 100 brands'. Walmart cannot be chosen - Term Paper Example This has hugely contributed to success of the company. McDonald’s first international venture was in Canada and then it had proceeded into the European and Asian markets. In all these places, the company has successfully positioned itself as a major player in food retail (Bonanno and Constance, 2008). The purpose of this paper is twofold. The first section will focus on marketing strategy that has been adopted by McDonald’s while venturing into foreign markets so as to comprehend whether it has used standardization or adaptation policies. The second part of the paper focuses on Internationalization process theory that had been adopted by McDonald’s in its foreign ventures. It has been observed that when multinational companies venture to foreign markets, they either use globalization strategies or localization strategies to promote their products. When a company pursues globalization strategy, it promotes standardized products in all places of operation. Multinationals, following this strategy, use standardized products, prices and distribution channels and promotional campaigns. Companies tend to adopt this marketing mix because standardized products are easier to brand and label. Most importantly, it helps to reduce operational cost of the company. Internationalization marketing strategies, on the other hand, are related to customization of marketing strategies for different locations in which the company operates. The rationale behind adopting this strategy is that cultural, national and regional preferences of the target market are incorporated in the marketing strategy so as to maximize probability of product acceptance (Vignali, 2001). Taylor (1 991) had pointed out that in order for a company to attain competitive advantage, both globalization and internationalization strategies must be employed. A large number of organizations have adopted â€Å"Think