Case Study: The International Product Life Cycle Theory

International Product Life Cycle
In this case, the International Product Life Cycle Theory is being used to analyse the foreign country environment which is the United Kingdom (UK) market. This theory stated that a company begins by exporting its product and then later undertakes foreign investment as the product moves through its life cycle (John J. Wild, 2014). Generally, the international product life cycle is made up of three primary stages which are the new product stage, maturing product stage as well as standardized product stage.

Stage 1: New Product Stage
This is the first stage in which a good is produced in the home country because of uncertain domestic demand and to keep production close to the research department that established

It guides on what we need to focus on especially in our advertising techniques. Advertising normally focuses on bringing awareness of the product to the customers; this is where our products are carrying out advertising efforts that set our products apart from the rivalry (Chron, 2015). Products in the mature stage use advertising as reminders for all the potential customers in UK so that they will always keep in mind that Old Town is definitely one of their choices while they are deciding where to go.
There are a number of advertising methods that can be used to publicise and market our products. First of all, we have selected the most effective way to advertise Old Town which is through social media such as the most attentive website, Facebook because the cost is lower as compared to the other methods. As we know, peoples spend most of their time with their smart phone nowadays and this is the most efficient way that could make them aware of the presence of Old Town. For example, by communicating with everyone in Facebook can keep them updated with our latest news and

As a result, the food together with its production process becomes more and more standardised. This stage is regarded as reduction in market share, declining in products’ attractiveness and falling of incomes. We must handle it sensibly and wisely because this is a very delicate stage (Buzzle, 2012). Consequently, Old Town needs to take special efforts to raise the product's popularity in the market once again, either by cutting down the cost of the product or beating new markets.
Culture
Our culture is different as compared with UK as in our country, Malaysia; we have numerous kinds of food due to different races and ethnicity with their own culture in terms of food. While in the UK, their culture towards the food is more to a faster pace. As we can see, UK is having a lot of fast food restaurants and one of their well-known dishes which is fish and chips while Malaysia have most of the restaurants serving foods like noodles, rice and porridge where general public in the Europe such as UK seldom have these during their