To set a competitive pricing strategy, a company must set the initial price and then implement a well thought out plan to chance prices in the future. The pricing of a product usually stems from the following three factors: Fixed costs such as the cost for raw materials Variable costs such as sales tax import […]
Bacardi Limited, the largest privately held spirits company in the world, recently acquired Patron Spirits. (Bacardi Limited). Currently, Patron can be purchased in over 100 countries. With the acquisition by Bacardi Limited, Patron can rely on the parent company’s logistics expertise and relationship with global distributors. Patrón leverages the resources and expertise of Barcardi Limited […]
The Los Angeles Dodgers are currently one of the best teams in all of Major League Baseball. They are a beloved franchise with a rich history. Also, they are coming off of a World Series championship season, and now is the perfect opportunity for them to continue to strengthen their global brand. This post will […]
Pharmaceutical pricing is a controversial topic these days. Over the last decade, drug list prices grew annually by 9.1%. When taking into consideration discounts and rebates, that percent, although still high, boasts around 4.5%. The alarming aspect is that consumer’s costs for specialty drugs has increased faster than the Gross Domestic Product. To combat this […]
Spotify is a platform that offers digital music, podcast, and video service. You can access content created by a variety of creators and listen to the millions of songs available. Their valuation has reached an all-time high and it is valued at $67 billion (Music Business Worldwide). They were valued at $29.5 billion in 2019. […]
It’s simply not your average racing simulator. Although racing games had already existed before the inception of Gran Turismo, all of them had a combination of over-the-top, arcade driving physics aimed for casual players who wanted to play for fun. Then, in 1998, the first iteration of Gran Turismo was introduced worldwide and shook the […]
Taco Bell has utilized the moon in its new advertising campaign globally. Taylor Montgomery, head of international marketing for Taco Bell, mentions in an article that she cannot unsee the half-crescent moon as a taco. This crazy idea has allowed Taco Bell to internationally advertise a free taco on May 4th. 20 global markets have […]
As we mentioned in our first blog post, international market communication extends beyond advertising; it also encompasses tactics like branding and packaging. A company can bolster the effectiveness of these tactics by following a process that includes cultural research, perception assessment, and subsequent standardization or adaptation. Starbucks adopted this process in order to improve the […]