International Marketing Strategy

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.

According to Theodore Levitt there are three assumptions that favor the pursuit of “pure” global strategy. The first one is that customers worldwide are starting to all want the same things. If this were true, I’d be able to buy the same things that I can buy in the United States in

The approaches to global marketing have revolved over the decades. The following trends have been observed:

Ghemawat so-called AAA framework offers three generic approaches to global value creation. Adaptation strategies strategies that seek to increase revenues and market share by tailoring one or more components of a firm’s business model to suit local requirements or preferences. Aggregation strategies focus on achieving economies of scale or scope by creating regional or global efficiencies; they typically involve standardizing a significant portion of the value proposition and grouping together development and production processes. Arbitrage is about exploiting economic or other differences between national or regional markets, usually by locating separate parts of the supply chain in different

Rapid globalization, companies keen to spread out internationally companies is faced by a very critical question of whether to standardize or to adapt its product or services. Global marketers have been trying to conclude with a particular answer to this great dilemma. Over the years as modern industry has developed, to standardize or to adapt has become a very important defining decision for the marketers. Each has its own pros & cons but to choose the right is a tough choice to make, it needs a thorough analysis and understanding of the market and only then a decision could be arrived .This essay will critically try to understand and analyse the various arguments of standardization and adaption so as to arrive at which is

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.

Standardizing marketing programs: Allowing marketing efforts to effortlessly operate across country borders. Standardization ensures products, promotions, price and channel structure cooperate together to increase

Two opposite viewpoints for developing global marketing strategy are commonly expounded. According to one school of thought, marketing is an inherently local problem. Due to cultural and other differences among countries, marketing programs should be tailor-made for each country. The opposing view treats marketing as know-how that can be transferred from country to country. It has been argued that the worldwide marketplace has become so homogenized that multinational corporations can market standardized products and services all over the world with identical strategies, thus lowering their costs and earning higher margins.

"The international market goes beyond the export marketer and becomes more involved in the marketing environment in the countries in which it is doing business” (Keegan, 2002). "At its simplest level, international marketing involves the firm in making one or more marketing mix decisions across national boundaries. At its most sophisticated level, it involves the business in establishing manufacturing facilities overseas and coordinating marketing strategies across the globe.” (Dole &Lowe, 2001). From these two scholarly quotes, we can deduce that International Marketing involves executing marketing principles to satisfy the variety of product and services needs and wants of different people situated across borders (International Marketing,” 2015) and organizational objectives. Likewise, International Marketing is commonly referred to as Global Marketing which also engineers the marketing mix by closely analyzing the product, price, place, promotion worldwide and customizing to precisely fit the needs and wants of a

From the time a company enters its second country-market, it will inevitably be influenced by its previous experience. The greater the number of national markets in which a company participates, the more likely it is to seek to manage them as an aggregated network rather than as independent units. Marketing strategy decisions in one country-market may in this case be made against extra-market criteria. For example, price levels may be set to minimize the difference among markets and

With the pressure of needing to manage costs and increase efficiencies, synergies between the different regions became an important strategy for international organizations. The concept of globalization was born from this issue. The drivers of globalization are market factors, cost factors, environmental factors, and competitive factors (Czinkota & Ronkainen, 2010).

At the same time, marketing strategies play a key role in unleashing potential for increased efficiencies and integration of upstream activities across markets (Porter 1986). While to some degree mediated by the spread of modular production and mass-customization techniques, standardization of products or product lines across countries will, for example, create

With the economy becoming more and more competitive with each passing day, having the most current knowledge about concerns and preferences of consumers is key for success. With effective global market research, your company can gain invaluable information about their competitors, economic shifts, demographics, the current market trends and the spending traits of you’re the customers. In this essay we will be reviewing the article “Living in a global world” and explaining the importance of global marketing research.

It’s essential to localize or standardize the company’s marketing mix when competing in the international market. Localization or Standardization Strategies both have advantages and disadvantages. However, As Vrontis argued that no company choose to use either strategy solely; instead, finding the integration of both strategies to have effective marketing tactics (2005). That can be a good choice for the company’s

Presently offering universally is simpler because of falling hindrances to cross-outskirt exchange. An organization doesn 't need to be the extent of these multinational mammoths to encourage and advantage from the globalization of business sectors. It is critical to offer a standard item to the around the world. Be that as it may, extremely critical contrasts still exist between national markets like buyer tastes, inclinations, lawful controls, social frameworks