Political Economy and Economic Development Discussion Topics

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I need a 200 words reply post for this original post.

The topic for discussion was:

Topic of the Week

  • Political Economy and Economic Development
  • Differences in Culture
  • Ethics in International Business

Post:

We all know that fast food chains like Mc Donald’s, KFC, Burger King, Starbucks, etc. localize their menus to some extent to meet the needs of local customers in the foreign country. I want to point out something else to think about. What I noticed since 2016 when I travel in the summer is that it’s not always the case right now. My parents home country in Vietnam has many high end shopping malls that have many of the international brands that we see here. They sell the same exact styles from what I see. The mall is always crowded with crowds from teenagers, young adults, adults, children, and elders. The international coffee, bakery, and restaurants shops have the same menus as the home country. There will most likely be Vietnamese wording in the menu, but many people are okay with English. I see that people pay for the higher end to get the true experience rather than the traditional that they’re used to. When I am there, I would do the same. For example, a high end Japanese restaurant there would still have a lot of patrons, and they don’t have to localize at all. They want to give the authentic Japanese experience, and I even saw they made sure they flew a Japanese chef to work there. With all of this, what I am trying to get at is the marketing technique is key here. Maybe the traditional American fast food chains had to localize in the past to some extent because they were in the Vietnamese market for like about 20 years already. So they were one of the first. Truth is those traditional American fast food restaurants use to be popular but people in Vietnam have the same views towards it as we do here in America. It’s just cheap fast food. However, Starbucks has the same crowd and vibe just like here in the United States, but the local chains have a bigger share of the market because of taste preference.

 
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