Click on the “play” arrow above to listen to the podcast
In this podcast of the Graziadio Business Review, Audra Quinn, managing editor of the GBR speaks with Kenneth A. Fox, MBA, managing partner of The Soundings Group, a business strategy marketing consulting firm. Fox discusses the research that he has done for the article, Learn to Expect the Unexpected in Global Retail Expansion which can be found in Volume 14 Issue 4 of the Graziadio Business Review, at GBR.pepperdine.edu. The article offers some lessons on global retail expansion using real-world examples of how different companies have succeeded and failed.
Below are the questions that Fox answers:
- What have been some of the biggest mistakes you’ve seen companies make in global expansion?
- Of the key takeaways in the article, the first and arguably most important is “Do your homework before entering a new global market.” What exactly is involved in doing this “homework”?
- One company that you discuss in the article is Tesco, the U.K. grocery chain which launched “Fresh and Easy” here in the States. Now it seems they tried to do their homework, but still ran into problems. What were some of the biggest issues there?
- Can you give listeners an example of some companies who have done this really well?
- As the world becomes more interconnected and the market becomes more globalized, how important do you think it will be for companies to start building global expansion into their strategies in the future?
You can also read another blog post written by Kenneth A. Fox: Zara: A Global Success Story