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Essay Details:
Essay text:
Company's market could be expanded by opening new regions worldwide and reach new customers
PROS:
+ Very high potential market
+ Focus on things what company knows the best
+ Less dependence from domestic market
CONS:
- Influence of the local culture
- Resistant to Asian foods at all in some regions
3. Diversify vertically by opening retail Asian food stores and restaurants carrying Kikkoman brand
PROS:
+ New challenge and new experience
+ Gain from strong Kikkoman brand image in Japan and certain regions of US
CONS:
- High uncertainty and risk
- High cultural differences
- No experience in retail market
Recommendations: Soy sauce market is very mature in Japan and company should use hold-and-maintain strategy, but in the same time they could start open retail stores for market extension...
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