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You will prepare and submit a term paper on Entrance in the UK Market of Kei Wah Bakery from Hong Kong. Your paper should be a minimum of 4000 words in length.
You will prepare and submit a term paper on Entrance in the UK Market of Kei Wah Bakery from Hong Kong. Your paper should be a minimum of 4000 words in length. The concept of brand equity, which was highly developed during the 1980s (Keller, Aperia and Georgson 2008), has highlighted the value of brand within the global market. However, brand marketing has been related to a series of challenges. Aligning the characteristics of a product/ services with the needs of a foreign market has been, traditionally, a challenging task, mostly because of the strong turbulences that characterize the international market. Indeed, products, which are quite successful in a specific market, may not be welcomed in another market, due to economic or cultural reasons (Keller, Aperia and Georgson 2008). In any case, branding is a key activity within the international market, securing the performance of firms, which face a strong competition, but also increasing the profitability of firms that are already well established in their market, as in the case of Kei Wah bakery, a well-known brand in the bakery industry of Hong Kong.
On the other hand, culture can highly affect the performance of a product within a particular market. More specifically, products that are commonly consumed in the host country are more likely to be welcomed compared to products, which are in opposition to the local culture. In the last case, the entrance of these products in the host country is expected to face a strong resistance (Kumar 2009). Therefore, the cultural dimensions of a marketing project should be carefully reviewed before attempting the introduction of a product in a new market.
The promotion of brands worldwide is often based on the following rule: the benefits expected from the foreign market need to overweigh the cost of the relevant project. Kei Wah bakery is a successful brand in the bakery industry of Hong Kong. The expansion of the brand in a new market is considered as a key solution for the stabilization of its performance: by increasing its customer base the brand could face the market turbulence and improve its position towards its rivals. .
