Emerging economies are poised for exponential economic growth due to the rise of their real domestic product. Together, China, Africa, and India accounted for over forty percent of the world’s food demand, as per 2017’statistics. Additionally, China and India produce over half of the world waters, rice and potatoes (Prest Trust 2011, p.17). Therefore, organisations need to find ways to replicate business models and management systems used in the developed world. For that reason, the discussion focuses on the strategy & international business in the food industry (Dawar 2008, p.18). Thereafter, the paper will explore how firms from the food industry undergo the process of planning & implementing their products into other emerging markets so they can be adapted to specific local taste/ culture & language, with the aim to develop opportunities in a foreign land (Baker 2008, p.8). Lastly, the report discusses how to promote technology and new knowledge in emerging economies.
Key Words: Emerging markets, Marketing, product, Price Differentiation, Market dynamics, Food industry, MNCs (Multinational Corporations)
Table of Contents
Acknowledgement…………………………………………………………………….4
1.0. Introduction……………………………………………………………………....5
1.1.Research Problem…………………………………………………………5
1.2.Objectives of Study …………………………………………………..…..6
1.3. Report Structure………………………………………………………….7
2.0. Literature Review ………………………………………………………………..7
2.1. Product Strategy………………………………………………………….7
2.2. Product Differentiation …………………………………………………10
2.3.Packaging food Consumption …………………………………………...11
2.4. Innovation and Reconfiguration of Supply Chain……………………... 12
2.5.Regulations ……………………………………………………………….13
3.0.Research Methods
3.1.Case Study ………………………………………………………………..16
3.2.Interviews ………………………………………………………………...16
3.3.Data Analysis ………………………………………………………….….16
3.4.Questionnaire……………………………………………………………...20
4.0. Findings …………………………………………………………………………..20
5.0. Discussion ………………………………………………………………………..26
5.1.Innovation of better Distribution Channels…………………………….. ..25
5.2. Go To market model …………………………………………………….26
5.3.Local Market Dynamics …………………………………………………..27
5.4. Branding ………………………………………………………………….28
5.5. Adapting to local culture and preferences ………………………………..29
5.6. Promoting new knowledge ………………………………………………..31
5.7. Reaction of local firms ……………………………………………………33
6.0. Conclusion ………………………………………………………………………...36
7.0.Recommendations …………………………………………………………………38
8.0.References ………………………………………………………………………….40
9.0.Appendix……………………………………………………………………………59
Acknowledgments
My gratitude goes to my supervisor Mr/Mrs… for the opportunity to write this dissertation. I give special gratitude to my professor for guiding me and providing simulating suggestions regarding the topic. The success of this project required coordination with my tutors and colleagues and I am extremely grateful for their assistance.
1.0.Introduction
Chief Executive Officers and top management personnel of large entities, particularly in Europe, North America and Asia acknowledge globalization is the most crucial challenge that they currently face. Moreover, they are aware that it is becoming tougher to identify internalisations strategies that they can use to venture into the international market. Most corporations have however stuck to their traditional strategies that stress on standardized approaches to emerging markets. As a result, these groups struggle to develop successful strategies in emerging markets. In the food industry, even mature and homogenous developed markets require tailor-made offers and fine-tuned business models. The challenge emerges when such multinational corporation’s target high growth emergent marketplaces. The globe is progressively becoming unified but multiplicity is still a common issue. Global companies, quick service restaurants, agrochemical enterprises, cold-chain logistics as well as additive producers need new strategies to deal with the international markets. As growth slows down in Europe and North America, attention is quickly turning to developing geographical segments (Kerzner 2012, p.8). The thesis discusses how firms in the food industry undergo the process of planning and implementing their products into emerging markets so that they can be adapted to a specific local culture/taste and language with the aim to develop markets/opportunities in a foreign land.
1.1.Research Problem
Emerging market segments are relatively underfed. For instance, non-member countries of OECD house more than 80 present of the world population (Homburg et al. 2009, p.19). However, these countries account for more than half of the present of the world food intake (Mergent 2015, p.5). Additionally, Food and Agricultural corporations’ statistics show that these economies’ per-capita consumption or macronutrients is approximately 50 percent in developed countries (West, Ford & Ibrahim 2010, p.22). It is no surprise that emerging economies are underfed because they make up to billion people, close to half of the world population (James 2006, p.7). Therefore, the research focuses on solving the challenges faced by multinational corporations in entering new markets. Promoting new knowledge about emerging economies is crucial in influencing local corporations to accept the new entrant (Sethi 1994, p.18).
In China, slightly over 3 m families had an income of 10000 USD in THE YEAR 2000, and by 2016, the number had increased to 60 million households (Manifred & Paul 2010, p.8). It is expected that this statistic will grow up to 230 million by 2020. As such, many households will be entering the consumer economy and therefore, they will be spending more on food (Mergent 2015, p.4). For that reason, organizations need to devise advanced ways of penetrating into new economies to take advantage of the increase in spending power of emerging economies.
SMART Objectives
To begin with, the dissertation’s goal is to determine specific ways in which food industries can grow of market share and increase revenue. This goal will be achieved by studying, comparing and contrasting writings from various scholars. By doing so, it will be easier to understand the parameters that needs to be taken into account before divesting in emerging economies. To add on, the aim of the study is to determine strategic partnerships that would be helpful when divesting to new markets. The goal is to understand how MNCs in the food industry can understand the domestic market by incorporating local firms. Another specific objective of the report is to discover the most effective international market strategies for firms entering the emergent markets. To do so, the paper will focus on market entry strategies, product strategy, panning, implementation and branding. Moreover, the paper’s goal is to carry out an in-depth analysis of emerging market and to determine ways of enhancing customer relationship, improving internal communications and increasing profitability, and this will be done making use of case studies. Some companies have already done business in emerging economies, and thus it would be prudent to borrow a leaf from these organizations. Moreover, the aim off the dissertation is to use of qualitative and quantitative research methods in investigating factors that influence entry of multinational firms into evolving markets. Finally, the essay aims at using empirical evidence to evaluate and measure parameters that influence the emerging food market. To understand how firms in the food sector implement the said strategies the methodology section will determine ways in which data analytics can be useful in achieving the said objectives. .
Structure of the report
The paper is divided into eight sections. Section 1 is the introduction and research objectives. The next part provides a review of existing scholars regarding the nature of food industry and how firms can succeed in entering emerging markets. Part three explores the research methods while the findings section expounds the data collected from the methodology part. Thereafter, the discussion provides a continuation of section two while referring to data collected. The conclusion provides the summary, implications and limitations of the report. The last part summarizes the recommendations and contributions of the research.
1.2.Hypothesis
Hypothesis 1: Organisations in the food industry use an array of product and marketing strategies when evaluating means to enter emerging economies.
Hypothesis 2: Promoting new knowledge and technology encourages approval by local firms
Hypothesis 3: Innovative product/market planning approaches are crucial factors for a company to successfully expand to new sectors (Dwivedi 2016, p.4).
2.0.The literature review
The literature review chapter gradually compares writings by various authors. In this section, the authors present evidence regarding the practices of product development and market entry strategies that suit emerging markets. Thus, the section addresses the views of various scholars and it is classified into the following variables: product strategy, price differentiation, trends that drive the food industry market, innovative mechanisms and ways to deal with regulations in different economies. , The review chapter also compares and contrasts the product and planning aspects of firms looking to enter into the emerging food industry.
Planning and Implementation of Product and market entry strategy into emerging markets
The following parameters should be addressed for a company to be successful in venturing into an emerging market (Kerzner 2007, p.19). These factors are explained below:
2.1. Health and Nutrition requirements by the consumers in the target market
Compares the literature by Krishna, Vliet, Volpato and Kraftt
To begin with, Krishna and Tarun argue that a market’s nutrition demands define the kind of products that the markets sell. In the industrialized marketplaces, basic wants are satisfied and unconventional functional foods are the ones that are manufactured (2010). For instance, Danonia’s Activa Yogurt and Unilever’s Beceltable spread target individuals whose aim is to improve their digestive systems and also improve their immune health. These products also lower the risk of coronary diseases. Vliet agrees with Tarun and Khrshna but he also adds the notion that in emerging markets, the demand goes beyond luxurious and nutritious tailor-made products. Infants, children and elder people are of particular concern and thus, corporations need to tailor-make their strategies to serve potentially vulnerable segments (Vliet 2015, p.1). Similarly, Volpato & Stochetti argue that while opportunities to sell premium functional foods seem attractive in developed countries, mass markets in the emerging world gravitate towards affordable and nutrient-dense foods (2009, p.8). For instance, in Nigeria Nestle fortifies a product known Golden Morn cereal iron and vitamins in a bid to solve deficiency of micro-nutrients. The product is attractive to local consumers because it is affordable and nutritious for all population segments, particularly children and pregnant women. In India, Tata Chemicals introduced iodized salt to vast goitre-plagued population in the country (Tata 2018, p.45). Lagace and Mintzberg claim that the company has practically taken over the branded salt market. Each day, 40 million households in India consume Tata salt (Mintzberg 2014, p.8). The strategy is effective because the company now serves over 65 percent of the market share. Similarly, Kraft food industries add calcium to Ritz Cracker in China in the bid to promote the government’s policy to upsurge the intake of calcium in the general economy (Krafft & Mantralia 2010, p.15). Krafft and Matralia support the idea by using Pepsico as an example. Pepsico launched Quaker Oats to address the lowering cholesterol intake levels. Additionally, Tyler notes that the product provides a natural source of carbohydrates, protein and fibre (2010). By focusing on the product, companies can comfortably bridge the barriers for entry into developing markets (Pray & Ramaswi 2011, p.91). The figure below illustrates the six parameters that explain the product strategy.
Figure 1: Food market framework
Catering for consumer tastes and preferences
In his food market concept, Tarun notes that individuals buy food suitable to the local palate instead of the globally recognized cuisines (2011, p.8). In comparison, Fleitcher & Bensoussan argue that Nestle’s Maggi brand noodles were introduced in India serves the local tastes and preferences (2012, p.6). The masala variety outstrips any other flavors because the company directs its product strategies to the local taste. Equally, global fast food chains have to adapt to the local preferences (Financial Times 2018, p.1). For instance, MacDonald’s developed the McAloo Tikki burger which is sold to a quarter of the Indian population. KFC’s set menu in China sells local meals such as chicken roll and rice-porridge (Institute of Food and Development 2018, p.19).
According to Havard Business Review, the key to entering into emerging markets is to understand the local palate (2011). This can be done by adapting new values and developing products to win over consumers. In comparison, Crane notes that product strategy is used to target cultural and traditional values in the particular segments (2011, p.3). Tastes in emerging economies span of wide-ranging culinary customs (Cox 2018, p.9). Religious affiliation and different geographic factors and economic disparities have various ingredients that were traditionally consumed. Rural-urban divides create variation in large multi-ethnic nations such as China and India (Harry 2016, p.4). Khanna notes that several products are customised and sold in different formulations in various segments (2008, p.3). Organizations can maintain the same brand and packaging but they can improve the content by using ingredients that are acceptable within certain conditions (Aghazadeh 2016, p.189).
2.2.Price differentiation entry strategy: Volume tramps margin
This review part contrasts from 2.1 because the author’s prefer pricing strategy rather product strategy.
While other authors argue the case for health and nutrition, Kvint contends that Price differentiation is the most effective approach that can be employed by companies in the tussle to enter into new markets (2009). Steger supports this hypothesis by noting that in developing economies, the same item may sell at a price that is 60 percent less in first world economies (Steger 2009, p.17). Similarly, Luver argues that despite the price differentials, companies can still make enough money to substitute the low prices (2004, p.5). The reason is that emerging economies have the numbers (Marois 2012, p.90). Indigenous players are very competitive because they may have captured the middle and bottom of price-pyramid (Lymbersky 2008, p.3).
Figure 2: Comparison of price levels and cost of basic products
Source: (Kearney 2018, p.42).
Kearney bolsters the above author’s points by documenting the illustation above. The table demonstrates the comparative prices in a few emerging economies from Africa, China, and India. The difference between carbonated drinks in Kenya and the US accounts to -83 percent. In India and China, the price is 0.4 USD while in the US the cost of one bottle is 1.6 USD. Regular milk is priced at 1.3 USD in the US and 0.9 in Kenya. In India and China, the cost per unit for milk is $ 0.6 and $ 1.1 respectively (Kearney 2018, p.45). Chicken breast and eggs follow the same trend. The cost per unit of Chicken breast in India, Kenya, and China are substantially lower compared to the United States (Salvatore 2008, p.18).
Another concept is the idea of price differential in value chain. Sahay claims that for a company to enter into emerging sectors and compete with the local businesses, they need to re-examine the entire value chain and modify the product formulations (2013). Moreover, corporations need to find an alternative and simplified manufucturing, and find alternate low-cost sources of raw materials (Vercuedil 2w012, p.87). At times, companies need to recalibrate profit expectations and instead, rely on sales volumes in a bid to offset lower margin of the units sold (Plterse 2013, p.7). For instance, Singapore’s Petra Foods inc. took over the Indonesian market by selling the Delfi Fun-time chocolate bar at 500 rupiahh, which is equivalent to 0.5 USD (FAO 2017, p.7). Another example is the India’s Domino’s Pizza approach. The Pizza company encourages high volume sales by making reducing the size and price of four pizza combinations (Fahey, King & Narayana 2011, p.7).
2.3.Packaging food consumption to drive trends
Authors in 2.3 argue the case for packaging and trends rather than pricing and products.
While the two previous topics evaluate the price and product, Ghosh notes that for a business in the food industry to enter into emerging economies, they have to understand the trends in the local market (2011). Unpackaged/Whole food intake is substantially higher in non-industrialized nations compared to developed economies (Manalili et al. 2014, p.56). At 470 kg per capita, China uses the highest volume of unpackaged goods more than any other economy in the world. The amount is 40 percent lesser in the United Kingdom (FAO 2017, p.8). Currently, only thirty percent of Chinese food products are processes.
Kearney proclaims that for an organisation to effectively enter the food market, they have to understand the demographics and trends (2018, p.45). Developing economies are increasingly becoming urbanized and more women have entered the labour force. Moreover, household incomes have increased and therefore, convenience and hygiene are valued attributes (Kimbrell 2002d, p.36). Additionally, Kraaidy notes that packaged foods are likely to increase because of the increase in the share of working individuals (2005). A shift in opportunities for food manufacturers is a trend that players of the food-processing industry can take advantage of. An example is the introduction of General Mills in India (Berhout & Herlin 2012, p.5). The institution manufactured Pillsbury flour, cake mixes and introduced Green Frozen vegetable. As a result, the institution’s annual growth rates have substantially grown in double figures, hitting 25 percent in 2017 (FAO 2017, p.6). According to Paul, Nestle has also capitalised the love for milk in India and it has packaged its products and this has significantly increased its dairy portfolio. (2013) Nestle India has introduced yogurts, dairy whiteners, and ghee to the existing product portfolio. Masan Company in Vietnam has re-branded its sauce category and used sit to persuade its consumers to purchased packaged fish and chilli sauce rather purchasing them in plastic bags at market malls (Farris et al. 2015 67). Another example is Del Monte. The organisation has been influential in establishing huge volumes in Philippines’ packaged juice class (Boruah 2010, p.17).
2.4.Innovation, adaption and reconfiguration of the supply chain
Literature in this section differs from 2.1 -2.3 because it stresses on the important of innovation and adaption. Below is the discussion.
According to Piotrowicz & Cuthbertson, organisations in the food sector find it difficult to venture into emerging markets because of infrastructural limitations (2015, p.27). Saturated ports and poor road networks makes business problematic and strains supply chain. More so, un-reliable power supply and under-developed cold-chains negatively impacts institutions that look to expand to these regions (Traill & grunert 1997, p.47). Jaffe notes that many goods in the food industry are perishable (2016, p.18). To solve the challenge, players need to create products that are tailor-made to withstand local infrastructural frameworks. For instance, fresh dairy products in underdeveloped countries such as Africa thrives more than already processed end products (Jansson 2016, p.78). The challenge, therefore, would be to reformulate techniques and incorporate preservatives without tampering with quality (Lutke 2005, p.17). Additionally, local supply chain conditions do not support new packaging because of inadequate technical expertise (Tomlinson 1999, p.34).
To solve the supply chain problem, businesses need to integrate the value chain in order to secure efficient and reliable access to quality (Hurntington 1993, p.2). For instance, in India, PepsiCo, McDonald’s and Nestle have signed a memorandum of understanding with farmers (Hang & Dresner 2013, p.35). As buyers of products, they commit to purchasing pre-defined volumes and at the same time, provide farmers with farm inputs and technical assistance. To add on, supply chain problems can be mitigated by integrating downstream producers and retailers into the logistics and distribution departments (Lechner and Boli 2012, p.5). Some companies may consider building their own transport network in groundwork for entry into new markets (Kearney 2018, p.45).
2.5.Understanding, adapting and complying with regulations
While the previous authors in the previous topics cover elements relating to the product, pricing and innovation, Wright, Dawar and other authors differs by arguing that food is a direct consumption item and thus it is normal for it to be highly regulated (Wright 1999, p.9). Governments determine what is sold, how it is sold and who sells it. Regulatory frameworks vary widely across most emerging economies (James & Steger 1993, p.22). Therefore, to venture into a certain geographic segment, businesses have to understand the regulations and ensure that they adapt to scrupulous compliance procedures (Dawar & Frost 1998, p.14).
The figure below illustrates some of the regulation parameters that need to be addressed by companies before investing in the emerging markets.
Figure 3: Regulatory Landscape in Sub-Saharan Africa, India and China
Source: OECD, 2017
Sub-Saharan Africa comprises of several nations in the central and Southern parts of Africa. For a corporation to fully understanding the regulations, they have to look into the following components: pace of reforms, ease of doing business, alignment with international standards, compliance and enforcement (Kockaya, G., & Wertheimer 2016, p.14). Local professionals are usually more acquainted with the regulatory idiosyncrasies of particular markets and the governance structure (OECD 2017, p.9).
In support of Wright’s concept, Khanna argues that organisations need to subcontract personnel who understand local frameworks to avoid being caught in compliance issues that would have been easily avoided (Khanna Palepu 2014, p.19). Strong local staff should be given resources to grow their own development strategic plans and then the institution can align them to the corporate structure. With the help of local resources, food entities can provide the needed technology and capital to develop better products and at the same time adapt to the local regulations (Erokhin 2017, p.19).
The literature review section does not simply compare and contrast the author’s view, it also provide data backing up the arguments from various scholars. Different writers offer their view on the efficient ways of entering emerging markets and thus, they are compared and contrasted in their own independent ways. Thus, it was vital to explore the dissimilar strategies putting authors with the same view in one topic and comparing their views with literature in other sub-topics. The 5 topics covered are regulations, innovation, tailoring markets to their health needs, pricing strategy and marketing approach, and they have been explained in detail. Lastly, the case study approach has been used to explain a substantial part of the literature review
3.0.Research methods
The methodology section indicates the data collection techniques and the ways in which the data was analysed and they include:
Case Study
The case study method has been used in explaining the nature of the global food industry and how it has expanded to emerging markets over the past few years (Tan 2013, p.9). The study covered FIVE of the largest US food chains by revenue. The companies reviewed include Starbucks, McDonalds, KFC, Domino’s Pizza, Taco Bell and Dunkin Brands. The analysis is obtained from the S & P food and beverage index. This index shows that beverage and food industry expanded by 16 percent and a larger percentage is attributed to the emerging markets (Koçkaya & Wertheimer 2016, p.19). The study carried out a quantitative analysis of Yum brands and its subsidiaries. Credit Suisse analysts argue that Taco Bell represents 30 percent of profits and only 15 % of this amount originates from international markets (Vorhiesm & Morgan 2015, p.4). Therefore, they proposed an acceleration strategy by use of multiple levers.
3.1.Interviews obtained from secondary sources
A research was carried by Davide across Eastern Europe, Latin America, and India (2018, p.2). The interviewer targeted 20 local retailers and consumer experts in these markets. Thereafter, the researcher conducted a channel-growth data analysis in these markets (Blanco & Lesca 2018, p.7). Moreover, the interviewers gave their perspective on the factors that curtail the success of foreign entrants. The interviewees were asked questions relating to the local market dynamics, the demand side and supply aspects of their local retail markets. Each country/region had unique dynamic forces (Ramamurti 2009, p.90). The findings section covers some the results and illustrations obtained from the interviewers.
3.2.Data Analysis
The secondary data was obtained through Euro-monitor, an independent data analysis company that researches information about industries, consumers and by use of analysis software programs (Ansoff 2017, p.8). Data was extracted from countries such as India, Egypt, South Africa, Turkey and the United Kingdom. The food companies were selected from the top ten geographic regions in both developing and developed worlds. The categories investigated include packaged drinks and foods and nutritious diets (Reuter 2018, p.7). Packaged food data were obtained from retailer and foodservice sales. Soft drink Company’s data was obtained in off-trade value. The metrics used to measure packaged food sales is RSP (percent retail value). Companies sampled include Krafts Food Inc., Kellogg company, PepsiCo, Nestle SA, Mars Inc. Hershey Company, Campbell Soup Group and Unilever Group (Farris et al. 2010, p.17). The table below shows the contribution of emerging markets to total company sales.
Figure 4: Total Contributions from companies in the emerging market
Rank
Company
Value (%)
% top 10
Artisanal (%)
15.2
11.3
1
Nestlé SA
3.2
2
Kraft Foods Inc
2.4
3
Unilever Group
2.1
4
PepsiCo Inc
1.8
5
Mars Inc
1.4
6
Danone, Groupe
1.3
7
Cadbury Plc
0.9
8
Kellogg Co
0.8
9
General Mills Inc
0.7
10
Ferrero Group
0.6
Source: Merchant, 2016
Figure 5: Percentage contribution of foodc companies in demergent and developed economies
Source: World Bank, 2018
The diagrams illustrate the global reach of food and beverage firms. Equating the packaged-food sector and the vegetable marketplace provides an insight into the nutrient intake. From the analysis, it is evident that presence of MNCs in the advanced world is higher than that of the developing economies (Guegan et al. 2014, p.19). Figure 6: Foods by Volume in Developed and Emerging Economies
Source: World Bank, 2018
A ratio better than 1.0, means that there is a larger contribution of companies to a certain country. The food market in the US and Mexico is more than double the market in emerging economies such as South Africa and India (Aaker & Mills 2018, p.9).
3.3.Questionnaire
The questionnaire was designed and sent to 23 firms that had operations in China and India. It was based on multiple-choice questions such as client information, customer needs in their markets, target market, estimated market size, competitors and potential market entry challenges. To add on, the questions addressed the competitive advantage of these companies, barriers to entry, government regulations, economic fluctuations and reaction from local players. A comprehensive list of questions is found in the appendix section.
There are four main methods used and they include: case study, interviews, questionnaire and data analysis. Interviews and questionnaires give primary data obtained from internet sources. The case study covers real scenarios while the data section explores the topic by use of statistical analysis.
4.0.Findings
The findings section discusses the inferences obtained from the research methods and other literature. The case study shows that market research is the most important factor when considering entering a new market (Johansson 2011, p.13). The factors to consider include demographics, common interests, customer base and the location. The case study shows that Yum Brands (Taco Bell and KFC) generated 50 percent of its revenues from developing countries. However, in some parts only two stores served two million people. For instance, in China, Africa, Indonesia and Vietnam, their stores only cover 5 percent of the population (J.P. Morgan 2016, p.77).
Findings based on case study, Data Analysis and Questionnaire
Figure 7: Largest Food Chains by Revenue
Source: Khaitan, 2017
Research forecasts also show that the fast food market will generate over $ 600 billion by 2019 (Booth 2018, p.2).
The paper’s objective is to use the case study to determine entry strategies. Tom et al. note that global food chains are pivoting more capital to emerging economies because of the minimum growth in Europe and North America (2018, p.14). The findings show that emerging markets present an opportunity for companies because they comprise of over 70 percent of the world population (Lee & Lee 2007, p.6). Moreover, the casE concludes that the global population in emerging markets will have increased by 40 percent in 2050. Moreover, inferences from the case study show that countries witnessing rapid growth of middle class populations are the target for the food industry (Fletcher et al 2005, p.5). Figure: Total Number of Food Outlets
Source: Khaitan, 2017
As seen in the chart, the US companies will largely influence the emerging markets include: Domino’s Pizza, McDonald’s, KFC, Pizza Hut, Taco Bell, Starbucks and Dunkin Brands and they share of the sector are illustrated above. McDonalds has been dominating the fast foods sector for the 3 years studies while Taco Bell has been struggling.
Khaita notes that emerging markets served by McDonalds have consistently provided double digits returns (2017, p.3). The sales have declined in Europe and the US and thus, the company has expanded aggressively in countries such as South Korea, Malaysia and China (Terranova 2017, p.6). The organisation plans to establish more than 1500 restaurants in China over the next five years. China and South Korea will make up 7.8 percent of its total store count (Khaitan 2017, p.9). The MNC also plans to double the number of stores in Malaysia over the next decade. Its management has committed $ 325 million to open 188 restaurants (Ciravegna et al. 2015, p.19). To expand, co
