The advertising strategies adopted by the firm are more local and differentiated rather than standardized.
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Medicine essays Miscellaneous essays Psychology essays Religious studies essays Science essays Sociology essays Essays menu. International Marketing When a firm decides to operate across national boundaries, there arises the need to apply its marketing principles to the target country, for business success. Etc this will help the firms to answer a few basic questions such as Ease of transformation from domestic to international marketing Nature of competition within each individual market etc International marketing could be standarised which implies that the product offerings will remain the same across the markets in which the firm sets up its operations.
Every organization prepares different kind of marketing and product mix in order to cater the attention of people residing in different regions and areas. Various elements of the marketing mix are also affected at international level. However the roles of promotional mix mainly remains the same due to the element of globalization Deresky, The tools for the promotional aspects remain same and online or digital marketing could be treated as the ultimate solution for the same purpose.
On the ground of price the role of economic environment is required to be understandable. If any organization wants to set their prices within any country, then different dimensions of economic environment can help in taking the appropriate decisions.
Mainly the organizations took the decision to enter into the foreign market as they aimed at higher profits and capturing a bigger market share. In Asian markets there are two big economies where the density of populations is very high and business entities have seen a huge potential within these Asian countries. India and China both are most populated countries in this world Gillespie, Jeannet and Hennessey, Further, the cultural aspect is also something where huge difference could be experienced.
This essay has been submitted to us by a student in order to help you with your studies. This is not an example of the work written by our professional essay writers. Another opportunity which also fosters the companies to go for international expansions is the availability of big market. Once company caters the local market, then the organizations always look to expand their business, so that the element of saturation could be avoided.
In the situation of international marketing companies has to have held on marketing research techniques. It can definitely enable them to predict about the growth and development speed within the country. After the discussion of all these benefits, it is essential to understand that the organizations should go for international expansion or not. Some of the management experts have mentioned that no doubt international environment creates more opportunities and extra sales, but the level of burden and responsibilities also increases proportionately Usunier and Lee, In order to handle them the organization has to invest more and there is a huge requirement of focusing on to the money as well as time management.
Further, the management people have theory that if an organization is committed to increase their sales and profitability, then continuous improvement and innovation could allow them to retain their customers for the longer period of time.
It is something that allows business entities to gain competitive advantage in the local market. In contrast to it some management experts mentioned that while going into the international environment the organization can build its reputation and mostly they can create their brand value as well Das and Kumar, Sometime it happens that any region comes out with lots of skilled and innovative organizations active in the same industry.
Likewise, Italy has a huge level of fashion designing houses and big apparels brand. So if they all would have been remained in the local market only, then their profit margins could not be on this much of heights. The same scenario is with the German automotive industry. Thus, the nature of business and product also boost companies to go into the international market.
German companies just introduce innovative cars at world level and introduce people with status quo products. It increases their demand and people accept the uniqueness and innovation within their products. This particular helps them to understand that by going into the international market they can not only increase their profitability, but also the sustainability another most significant business objective factor also matters a lot Engelen and Brettel, Further, the economic condition of the local market is also required to be analysed hugely before taking the decision related to international expansion.
If the currency rate, foreign rate fluctuation, tax rate, etc. In result the company like McDonald and Starbucks also comes with their international outlets. The internal economic environment gives them courage to expand their business as their investment and earnings ratio was highly compatible Griffith, Further, sometime the political environment becomes familiar to international expansion. This particular aspect has become true with the IT and communication industry.
In the last two decades, every government ad every country has understood the need of better IT infrastructure and having the most structured communication facilities. So, governments have itself called various telecommunication and networking companies and have allowed them to commence their business within their region with various subsidies ad comforts.
Therefore, above discussion suggests that the decision of internationalization depends upon a variety of peculiar elements and all these elements must be investigated in an appropriate way. It could help in generating the most positive results within the stipulated period of time.
Afterwards, another significant element which gives huge priority to expanding the business is the unique business idea Leelapanyalert and Ghauri, Google, Facebook, Apple and Microsoft are some of the examples who lays into this category. This element always allows them to yield huge profits and giving new dimensions to the industry.
They make perfect use of their business models and yield huge profits. Other than these aspects of business, there are some strategic alternatives which also support the decisions of going into the international market. It is to acknowledge that the major challenge in going into the foreign countries is risk associated with the investment aspects. But, there are various entry strategies which provide leverage to enter into foreign countries and that to in less risk Levitt, The option of licensing, joint venture, franchising, etc.
Ahead another advantage of this factor is that local network could also become concrete and local people can provide an edge to survive in unfamiliar business situations the relationships with suppliers, vendors, media people, etc. The cost could be controlled as local people also put their money and their work for profit motive as well. It is to acknowledge that in these situations the foreign companies have to give huge priority to check the reputation and brand value of a local company with which they are commencing their business Porter, As the impact of their negative brand image could spoil the brand value of a foreign company as well.
The management theories can definitely help in taking the decision related to international market, whether it is related to the selection of entry strategy or it is related to the selection of marketing strategy Leelapanyalert and Ghauri, OLI framework can provide information about entry strategy as it involves the internationalization, localization strategy into it. Further, the Hofstede model defines the cultural values of any country.
A free marketing essay on the subject of international marketing using Starbucks as an example - view, print and download to help you with your studies.
International marketing is that the company wants to expand their market enter into other countries. If one company wants to enter international market they should.
Free international marketing papers, essays, and research papers. The International Marketing Environment Marketing Essay. After reviewing and analyzing various literatures available on market entry strategies, it is clear that there are many views and conclusions on both the success and opportunities on marketing specific services.
Dissertation and Essay Samples: International Marketing International Business. The following essay or dissertation on the topic of International Business has been submitted by a student so that it may help you with your research work and dissertation help. May 09, · Free Essays from Bartleby | International marketing Introduction Companies competing in the 21st century are seeking to increase revenues, growth and broaden.