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Creating Successful Longterm Growth Essay

502 words - 3 pages

Creating successful long-term growth
New-product development shapes the company’s future. Improved or replacement products and services can maintain or build sales; new-to-the-world products and services can transform industries and companies and change lives. Companies are doing more than just talking about innovation. They are challenging industry norms and past conventions to develop new products and services that delight and engage consumers.
Since Haidilao is famous for its service, we suggest that the company can improve or create new service . Haidilao just open in some large cities, people in other cities cannot enjoy their food and service. So, firstly, the company can extend the take-out service in those cities, to carry out a ...view middle of the document...

Countries are increasingly multicultural, and products and services developed in one country are finding enthusiastic acceptance in others. We are living in global village. A German businessman may wear an Italian suit to meet an English friend at a Japanese restaurant, who later returns home to drink Russian vodka and watch a U.S. movie on a Korean TV.
Haidilao also extended his market both in USA and Singapore. However, the hotpot store in the USA is not as popular as it is in China. Its famous service like manicure and shine shoes are not welcomed by the local people. Americans think that it is not suitable and is not clean to have this kind of service in a food shop. Furthermore, the oversea store even doesn’t have English menu and cost a lot. The average cost of one meal is about forty dollars, equals to a meal including lobster and desserts in America. In china, we think the high average cost is acceptable and reasonable just because we can enjoy free services provide by Haidilao. In America, people think they just pay for what they buy, they don’t need extra free services.
According to these kinds of phenomenon, we suggest that Haidilao should change their overseas marketing strategy in following ways. Firstly, they should hire local manage group to help them to localize. The export department should expands to include various marketing services so the company can go after business more aggressively. Secondly, they should add English menu and re-set their price. Finally, we suggest it extend its market to some developing countries where the temperature is low and people like spicy food. In these countries people are more willing to have meals like hotpot.

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