Impact Of Marketing On International Marketing

Wal-Mart is an American company that was founded in the year 1962 by Sam Walton. The company operates in the retail industry. Notably, the company operates various chains of stores in the entire world which has made the venture a big success in the retail industry. The efficiency and the effectiveness of the company’s operations have seen it ranked the second largest public company in the world (Copeland & Labuski, 2013). The company has over two million workers which makes the leading private corporation employer in the world. Notably, despite the fact that the company is traded publicly, Wal-Mart is more of a family company since Walton’s family still controls over fifty percent of the company’s shares. The company has expanded its business through venturing into external markets such as China, the United Kingdom, North Korea, South Korea, North America, and so forth. However, these markets have produced mixed results in terms of the level of success and profitability. For instance, the German market and the South Korean markets have turned out to be less favorable for the company.

Wal-Mart Stores, Inc. (which was incorporated in October, 1969) is presently the world’s largest retailer; it sells a wide variety of products at economical prices when compared to competitors (Reuters, 2016). Wal-Mart’s business affairs are operated in three sectors: Walmart U.S., Walmart International and Sam 's Club (Reuters, 2016). The U.S. portion of the company runs retail stores in all states as well as Puerto Rico, my way of three main store set-ups, and digital retail (Reuters, 2016). The international wing of Wal-Mart Stores, Inc., features business activities in 26 foreign countries (that is, outside of the United States) and comprises several formats separated into three main classes:

Competition in the business world is fierce and in order to survive companies must expand. “With the increasing globalization of markets, companies find they are unavoidably enmeshed with foreign customers, competitors, and suppliers, even within their own borders,” (Cateora-Graham, 2007). One way in which many companies have done this is by going global. International marketing, although more prominent than ever before, is still a difficult arena for marketers to master. Although religion and culture are not immediately brought to mind when business is brought up, marketing is one aspect of business that is highly sensitive to culture. Not only culture, but also politics, the economy and the law effect marketing strategies. This paper

Wal-Mart is arguably the most dynamic corporation in the last 50 years in the United States, if not the world. Arising from its beginnings in Bentonville, Arkansas, it has grown to over 4,400 discount stores, super centers and corner markets worldwide. Wal-Mart continues to expand despite public criticism of its labor practices as well as complaints about their treatment of competitors. The many strengths of Wal-Mart, like their low cost production and marketing practices, will aid Wal-Mart as it continues to grow in the retail

Wal-Mart the world's largest retailer in 2006, next to only Exxon Mobil, with an 8.9% retail store market share in the US and a global turnover of $312 billion, is the most famous example of a successful retail strategy. However, Wal-Mart's international operations spread across 14 markets outside US, has been a mixed bag of experiences for the company. Despite Wal-Mart's impressive track record and strength, the question is, "How can it stay ahead?" given the rapidly changing retail landscape, newly emerging markets and aggressive global competitors.

Wal-Mart has dominated 27 countries in the world with 11,435 overseas subsidiaries. Its sales are widespread across all its subsidiaries but controlled from regional and head offices. Moreover, Wal-Mart has involved itself in international trade contributing a lot to the overall supply in the international market. In addition, Wal-Mart has been the market leader in providing fast moving consumer goods with all its potential and prospective customers ' worldwide (Baker, & Powell 2005).

Globalization changes many concepts in the international trading and forced all international companies to change their concepts in marketing to survive, therefore, globalization has affected strategically the process of marketing on the global scale whether directly or indirectly especially if we take account the spread use of the Internet which is now considered one of the most important tools of globalization in the economical field which marketing processes comprise one of its basic elements.

International marketing is practiced in all major corporations, there are a large array of advantages companies can benefit from this and very little to lose. By marketing themselves globally, corporations essentially create multiple business opportunities for themselves worldwide when they recognise the opportunities and strive to inform or meet different consumer needs. Several corporations tend to internationalize when the domestic market is not generating lucrative profits for the corporation compared to the domestic market. For example, in 1994, Apple generated an additional amount of $80 million from the foreign market compared to the local market.

The progress of humanity and human beings can be attributed to one important factor and that is the strong capability of human beings to understand and adapt to cultural differences. Respecting cultural differences has brought the human beings close together and has tied them in a strong bond. The conquering of the cultural differences has also introduced us to a new terminology, global economy, which is a global system of production, distribution and consumption. The world has become a singular unit because the pace of economic development has accelerated due to an increase in marketing not only at a local level, but also at a global level. Global

Wal-Mart is “the giant chain of discount stores, the second largest company in the world, with over $400 billion in revenue and 2.1 million associates.” (Philip and Kevin, p94) Wal-Mart began its business in 1962 when Sam Walton, the owner of Wal-Mart, opened up his first discount store in Rogers, Arkansas (Philip and Kevin, p94). In the next two decades, Wal-Mart expanding its scale rapidly. Since 1990s, Wal-Mart started to opened up its store in other countries, from then, it started to become an international company. But in the first few years of 21st century, Wal-Mart met some problems in lawsuit, marketing plans, and employees. At 2007, a new marketing strategy

International marketing is crucial in learning a new culture. If our company go for international marketing then the company will experience and learn the culture of that country which may cost us. Because we may produce some products which may fail but this will help us in long run to go for another market of same nature in a very cost effective way. The experience of our company in dealing with a new culture will increase. (Anon, 1978)

Wal-Mart’s worldwide employments presently consist of 4,263 stores and 660,000 employees in fifteen nations externally the United States. There are completely controlled stores in Argentina, Brazil, Canada, and the UK. With two.one million workers globally, the business is the gigantic independent entrepreneur in the US and Mexico, and 1 of the gigantic in Canada. In the monetary span in 2010, Wal-Mart’s worldwide departmentalizing commerce were $one hundred billion, or 24.7% of overall marketing.

The literature on international marketing tactics debates two significant points of view. Some researchers support the international standardization approach argue same marketing strategy, and international markets should use a standardisation marketing mix for reduce total costs and promote a global enterprise image. The companies should use a single entity selling the same items everywhere in the same way (Levitt,1983). On the other hand, some researchers support the marketing adaptation to fit the unique dimensions of each local market. Jeannet (2003) states that the trend towards of international needs should not use standardized international in marketing activities. Because international marketing

To start with a generally known fact, each firm uses its own type of marketing strategy. Therefore, companies in different countries must think about their marketing strategies relative to different cultural values, for instance the mentality of a foreign country’s population as well as their demands and needs. We can divide marketing into three dimensions – domestic,

Lastly, the objective of this essay is to show the theoretical development in internationalization for firms and the selection of their foreign country markets they choose to expand their business ventures.