Question

What can an entrepreneur do to prepare for “newness”?

Why did companies like Dunkin Donuts with India and Taco Bell with Saudi Arabia fail in their international expansion efforts? How can companies ensure a successful expansion into new countries/cities?

Why is it so difficult to attain a patent?

Answer 1

1Answer:

Entrepreneurs’ are one of the most talented, self-motivated, passionate and innovative persons who are interested to start their own business. Every entrepreneur will always focus on implementing new things in the business.

• An innovative idea always brings great chances of survival in the market. Newness brings huge chances of business growth
• More promotions in various techniques to the product or services
• Unique product or service development is one of the key success of any product or service
• Major contribution from a group of technical and production team
• Encourage and support the staff for innovative product or service development
• Market analysis on the product availability
• Income sources and attracting investors are also important
• Understand and perform an analysis for the need and development

2Answer:

Products like Dunking Donuts and Taco Bell are huge success in their home market but could not able to entertain or attract abroad customers. There are so many reasons for a product failure in international market. Let’s discuss the reason for the failure:

Dunking Donuts: are one of the most attractive and tasty foods that everyone loves but the company could not able to understand the needs and taste of Indian customers and fail to perform in Indian market. Most of the company outlets closed due to losses.

• Lack of knowledge on Indian food habits and breakfast style
• Different people different style could not enjoy the Donuts
• More people like spicy food in breakfast
• Most of the Indians don’t like to consume sugar coated foods
• The variety of foods that available in India are countless where these products fail to get a place
• The variety of sweets and styles of different regions that made this product fail in the Indian market
• Even the price of the product could not attract Indian customers

Taco Bell: Is one of the most successful product in the U.S. It is a Mexican fast food chain. The company is best and bring so much growth in the United States market. Being a strong brand wants to expand its services to the international market especially Dubai but the product fails to grow in the Dubai market.

• In 2008 the first Taco Bell store is opened in Dubai thinking it will attract the customers and wins in the Dubai market. But the food style in Dubai is completely different
• Lack of international recognition for Taco Bell brand fail to grow in Dubai
• Could not able to beat the competitors like KFC and Pizza Hut brands
• Taco Bell failed to give their best in the Dubai market because of the unique product development

3Answer:

• If a company want to expand its services in the international market. It has to understand the international business policies and rules
• Every business wants to grow in abroad market for that unique product development is more important
• Needs of the customer and their culture should understand to fulfil the requirements
• Perform a market research of that country and understand the business structure
• There should not be any language barriers because communication plays an important role and interacting with customer in their flexible language makes customer more comfortable
• Relationship is again a crucial factor for business expansion
• Identifying the competitors for the product and develop a unique product or service will bring success
• Price of the product also brings huge success for the brand

4Answer:

The patent right for product or service ensure the complete rights of the product to its owners. Most of the well-known brands and their products are identified internationally because of the patent rights that owns by the company. Every company register for patients’ rights for their products to avoid copy of their product by someone.

• To get the patent right for a product or service a patient examiner will review first to provide the rights
• At the same time, it’s not that much easy to get the patient rights for a product there is a procedure and guidelines that demands so many proofs and other legal documents
• They will examine in such a way that it should not overlap or duplicate of any other product or service
• There should not be any overlap with previous discoveries
• The proper clarification and encounter will be there for the owner who needs patent rights
• The cost for the overall process is huge which is again needs an attorney to defend the questions that post by the patent examiner