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Adopting Different Strategies for Growth in Various Markets Like KFC and McDonald

The Asian markets hold potential for growth in future on account of growing population which provides a huge market coupled with high growth in the economy over the period of time in the past which is expected to continue in future. Davies, R. states The interest in Asian management is primarily a recent phenomenon, facilitated by the growth in Asian markets within the global economy, and a realization in the West that Asia is both a region that will be central to any serious global business, and also a region that can offer the West much wisdom in management techniques. The subsequent developments in the continent have justified this assessment greatly. China is the world’s largest consumer of instant noodles, and the country’s vast instant noodle market is dominated by Taiwan’s Tingyi Master Kong brand. In the past five years, the value of chocolate confectionery sales in China has nearly doubled, to $813.1 million, while sales in India have increased 64%, to $393.8 million, according to market researcher Euromonitor International. However, the growth in the same period in Europe has been hardly 1 to 2%. According to Vietnam Briefing, many Vietnamese are still willing to spend more on fast food restaurants even if it is around 2 to 4 times more expensive than the regular rice or noodle shop. Western fast food chains tend to introduce menu items that cater to local tastes to increase sales. One common factor for most of the Asian countries is that the population consists of youngsters in teen ages or up to 25 years.

Adopting Different Strategies for Growth in Various Markets Like KFC and McDonald