In view of the external environmental factors, the key decisions related to the marketing mix, i. Any prudent international marketing strategy needs to take things like this into account. All this has led to the birth and growth of international marketing.
Foreign technical assistance was sought in those areas where local capability was deficient, so that technology investments were largely in the form of more modern machinery in order to manufacture higher-quality products for the export market.
This implies that export markets are not likely to be a quick fix for the problem of contracting domestic demand. Global Marketing Strategies Any company engaging in global marketing operations is faced with a number of very important strategic decisions.
The other consideration would be to use other companies existing in the local markets as frontiers of the company in such markets either as dealers or franchises Adcock, et al,p 1. To achieve working solutions for the international market, the company borrows from other highly diversified companies which have faired well in the international foray.
The various roles of foreign partners in providing these services are documented in the case studies. Regional Partnerships Sometimes companies know it will be difficult to break into a foreign market without the help of other companies that know the nuances of marketing a product to the people there well.
For these firms the export market accounted for a large share more than 50 per cent of their total sales. Some would call it the coordination of marketing strategies by a company that are necessary to sell goods or services in a foreign marketplace.
Thus, entry decisions are the strategy decisions international companies must make most frequently. Except for the subsidiaries of multinational enterprises, very few firms design and develop their own products. Every employee has the responsibility of promoting production of quality products within the business.
The pressure to bring out new products is much more intense on firms operating in international markets. The transfer of control from foreigners to indigenous owners has sometimes been far from smooth and possibly more destructive than constructive.
Since GE is a highly diversified company, there is also a great need for creating a highly diversified market that can absorb the diverse products offered by the company. Taking decisions in view of dynamic international marketing environment.
A very good reason why companies need to consider international marketing is to get a piece of the over 10 trillion dollars of goods and services that are traded across borders each year. As a result, there are many types of generic global marketing strategies a firm may choose from, moving the fundamental choice away from whether a global marketing strategy should be pursued toward which global marketing strategy should be adopted.
Dividing the markets into homogenous sub-groups is referred to as market segmentation.
Understanding and exploiting the lead market principle will become more important. The report was also to evaluate the existing international marketing strategies adopted by the company as well as assess the importance of international marketing to the company.
The survey should be carried out by professionals who should include as part of their team local professionals well oriented with local market. You must also be aware of places that are regularly affected by such natural disasters as typhoons and earthquakes. Most products are imitations of foreign products, usually products which were being imported and are now manufactured, following the logic of import substitution.
This has the effect of improving and cementing the very crucial relationship that GE attempts to build.Introduction To International Marketing Marketing Essay. Print Reference this. Published: 23rd March, Disclaimer: This essay has been submitted by a student.
This is not an example of the work written by our professional essay writers. Conclusion. Charles & Keith is a good Singapore local brand and the products is high.
The myriad of new entry alternatives has raised the level of complexity in international marketing and will remain an important challenge for managers.
This added complexity will make detailed analysis and comparisons of entry strategy alternatives more difficult.
Conclusion The globalisation of Markets has necessitated all managers to pay attention to International marketing. Other than Environmental factors, self reference criterion are considered obstacles to International Marketing.
Global awareness and sensitivity are the best solutions challenges faced in International marketing Bindumadhavi P Conclusion This chapter has explained strategies related to competition in international markets. When considering competing in foreign markets, executives must consider the benefits and risks when making decisions about whether to expand overseas.
So international marketing is very important for the global trade and to achieve the goal international marketing have the culture. Reference: 1.
Chris Phillips, Isobel Doole, Robin Lowe,International marketing strategy: analysis, development, and implementation, p, published by routledge. 2. International Marketing Plan 1. InternationalMarketing Plan –Basecamp PeruStan Iakovlev and John Relyea-Voss 2. Agenda Introduction PESTLE Target Market Analysis Market Entry Competitive Analysis Service Plan Distribution Advertising and Promotion Strategy SWOT Conclusion.Download