Analysis of Pleasant Dreams Mattress Company

Expanding globally is a great opportunity for American business owners to increase profits and growth within their company. Going global offers businesses the opportunity to experience the benefits of reducing dependency on a single market, while gaining market share in a foreign market. At this time, only about 10% of American business owner’s are involved in exporting their products to other countries. Although there are great opportunities in global expansion, careful consideration must be given before committing to an expansion of this magnitude. Expanding into a foreign country can be difficult because of cultural diversities and practices, regulation, consumer behavior, economic stability, and many other reasons. In order to properly evaluate the markets in other countries an in

Today, firms have to deal with a global marketplace; marketers have no other choice. Participation in global marketing has begun to shift from a mere “option” to an imperative. The world is becoming more homogeneous. Distinctions between national markets

The first recommendation for this firm is to adopt a global policy and try and explore new markets so that market growth and market share can be expanded. In case of a firm entering an international market, it requires to analyze the nature of the market and suitably form its marketing strategies in alignment with its business strategy and decide whether it is more beneficial to adopt a global approach or use a strategy that is customized to suit the needs of the local customers.

The importance of international marketing increased in the last years in a context in which market saturation and competition broke out within different branches. The analysis of foreign markets became more important for enterprises, because of the increasing internationalization of the business activity. While at the beginning of the internationalization, standardization and differentiation just considered domestic markets, today market segmentation is taken on global extent because of intensified individualisation of behaviour 's demand of the consumers. It can happen, that consumers of different countries due to increased mobility, assimilation of demographic structure and better communication and information technologies, show more

Globalization refers to the establishment of worldwide operations and the development of standardized products and marketing. Companies are pushed to go global due to regional trading blocks, declining tariffs, the opportunity to open up new markets, and to take advantage of the information technology boom. E-commerce, in particular, has produced a commonality of taste worldwide and permitted instantaneous global marketing possible. Globalization has fostered and been aided by strategic alliances of rivals, suppliers and customers. The drawbacks to globalization are the riskier nature of going global due to the divergent needs of different cultures, the loss of a company's identity with its home country, a loss of flexibility and responsiveness, as well as the neglect of the need for differentiated products. Regionalization, then, would be less risky, more manageable, and have the ability to take advantage of local

Nowadays, the global market becomes more and more competitive. The multinational companies must be able to develop a good international marketing strategy in order to compete in the global market. Different countries will have different political, economic, socio cultural, technological, environment and legal and regulatory system. These factors can influence the firm’s decision to conduct business globally by using standardize or differentiate strategy. The cultural differences will also impact the product strategies as every people in different countries may have difference beliefs, values, religions, and culture. Thus, it is important for a firm to choose a right marketing strategy in different foreign markets.

some time, and so are the challenges for global companies whether they are small, medium or large. Companies understand that expanding from regional or national focus to international competitive market requires strategic, quantifiable, achievable and time-critical goals (Werhane, 2012).

This paper will define global strategy and research the best strategies to use when expanding operations to international markets. Recommendations and conclusions will also be defined for when entering a foreign market, thus expanding operations.

Before any company embarks on the process of international marketing and selling its products in foreign countries, it is proper that it does a sort of strategic analysis to examine the feasibility and its scope for success. The whole marketing mix sometimes needs to be

In multi-domestic strategy each country is served by a fairly autonomous national subsidiary that manages a full range of functional activities. The chief advantage of this strategy is the flexibility it affords with respect to local conditions. For example, it allows differentiation on the basis of local preferences, while avoiding the administrative complexities associated with centralised control from a remotely located head office. Multi-domestic strategy seeks to maximize worldwide performance by maximizing local competitive advantage, revenues or profits. A global strategy seeks to maximize worldwide performance through sharing and integration. Companies that use global strategy levers can achieve one or more of these benefits: cost reduction, improved quality of products and programs, enhanced customer preference and increased competitive leverage.

Companies can decide to go global or to enter international markets for various reasons, and these different objectives at the time of entry that enable the business to produce different strategies and the performance goals, and even forms of market participation.

International marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services across national boundaries to create exchanges that satisfy individual and organizational objectives. International marketing management is a critical organizational operation that should be integrated with other basic functions such as operations and human resource management. International marketing is generally based on one of three business strategies: differentiation, cost leadership, or focus. Determining the firm’s marketing mix involves making decisions about product, pricing, promotion, and place (distribution). A related basic issue that marketing managers must address is the extent to which the marketing mix will be standardized or customized for different markets. Increased access to communication services promotes economic growth in many ways, some obvious, some subtle. Improved communications make it easier for entrepreneurs to learn about new market opportunities; but they also make markets more efficient, lowering prices and reducing the waste of resources.

It is important for a company to choose a relevant internationalization strategy in order to attain competitive advantage. According to Philip Kotler and Gary Armstrong, a company can attain competitive advantage when the company is able to perform in one or more ways that competitors cannot or will not match (Philip Kotler, Gary Armstrong, 2007, p182)

This report is basically concerned with the phenomenon of International marketing. At its simplest level it can be said that

Globalization is an inevitable phenomenon that is leading the entire world towards becoming one market, a global village. With the world becoming a single market, globalization has had a major contribution in enabling the organizations worldwide to step out of the restricted domestic markets and to set up their operations across the globe with confidence. This has largely led to a decline in the importance in national borders and a greater emphasis on what the consumers actually demand no matter the consumer is located in the very country in which the organization exists or an entirely different part of the world. Moreover, with the rapid increase in global competition, companies that strictly adhere to and cater to the needs of the local markets are finding themselves at a disadvantage and gradually losing the competitive advantage that they so much strived to achieve. However, for some products and services the tastes and preferences of consumers in different nations are beginning to converge on some global norm.