Because global marketing is such a positive thing and offers so many new opportunities, many companies would like to get involved in the global market. In class we discussed ten different ways to enter the global market, they are as follows:
- contract manufacturing
- joint ventures
- strategic alliances
- direct ownership
- and multinational enterprise
More than 80% of McDonald's restaurants worldwide are operated by franchisees. They have been recognized numerous amounts of times for their franchises. Some examples provided by their website are:
- Entrepreneur Magazine – Every year, Entrepreneur Magazine lists its Franchise 500. Over the last several years McDonald’s has been recognized as one of the Top 10 Franchises.
- Franchise Times Magazine – McDonald’s has been ranked #1 on its list of top 200 franchises.
- USA Today – McDonald’s has been selected by the National Minority Franchise Initiative (NMFI) as one of the 50 Top Franchises for Minorities.
- Black Enterprise Magazine – McDonald’s was listed as one of the 40 best Franchises for African Americans.
More information about McDonald's franchising is available at http://www.aboutmcdonalds.com/mcd/franchising.html.
What are some other companies that have used franchising to enter the global marketplace? Can you find any companies that have successfully gained entry into the global marketplace through one of the other nine methods?