Marketing Strategy For The International Business Market

International marketing – Ethnocentric Orientation In this kind of orientation a firm assumes that the process of home country is superior to the rest of the world. They consider that all markets are similar and assume that products and practices that succeed in home country will be successful anywhere. Multinational Marketing – Poly centric Orientation In this kind of orientation firm believe or assume that every country in which a company does business is unique. In order to succeed, they adopt the policy of applying business and marketing strategies differently in different countries. Global Marketing – Geocentric Orientation In this kind of orientation firms view the entire world as a potential market and attempt to develop integrated global strategies. A global company can

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

A firm 's international marketing program must generally be modified and adapted to foreign markets. This international marketing program uses strategies to accomplish its marketing goals. Within each foreign nation, the firm is likely to find a combination of marketing environment and target markets that are different from those of its own home country and other foreign countries. It is important that in international marketing, product, pricing, distribution and promotional strategies be adapted accordingly. In order for an international firm to function properly, cultural, social, economic, and legal forces within the country must be clearly understood.

Doing business in such different countries ask you to be flexible and need to be able to adapt quickly to the local demand and cultural differences. Your strategy has to be adapted to the ethical standards, cultural norms, but also the way the business is going locally. In others world, the company has to localize its distribution and marketing strategy to the requirements of the local market.

After reading the "Direct Mail" article posted in our course, discuss three things you learned related to online giving trends of donors from different generations.

In general, there are three views on ‘global strategy'. First, global strategy is one particular form of multinational enterprise (MNE) strategy that treats countries around the world as a common, global marketplace (Levitt, 1983; Yip

As we close Q3, we move forward with our plan to expand our offices in the North American market. Our next office expansion will take place in Chicago. The market potential in Chicago, for the workhorse computer, is relatively high; in comparison to our initial other locations such as Los Angeles and Toronto. According to market research, these markets have great potential to effectively meet customer needs. The pricing strategy used for Workhorse, which is our first priority product in the market, is to provide a technologically advanced computer at an affordable price. In addition, to a good retail price, we will offer a $100 rebate as an incentive to purchase a Pentabytes workhorse computer.

Depending on (other factors), there are other strategies that could have been chosen when entering the global market. Exporting merchandise can be conducted directly to other nations as well as indirectly; this option is more suitable for companies that have established business contacts within that foreign area to have a better chance of producing international sales and turn a profit. Like indirect exportation, a firm has a relatively low amount of risk involved and financial investment as there is no development of any new plants necessary to enter the new market.

The original formula for Red Bull was developed in 1964; however, the Red Bull company was not founded until 1984 after a merger between Dietrich Mateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to “treat jet lag and boost energy for truck drivers” (Hollensen, 2012). In today's era, Red Bull is commonly used as an energy drink; like coffee, and as a mixer in alcoholic drinks, like Red Bull Wings and the Jägerbomb. This aligns with the company's focus on the younger generations of partygoers and post-secondary students.

Weather to globalise, and how to globalize, have become two of the most burning strategy issues for managers around the world. Many forces are driving companies around the world to globalize by expanding their participation in foreign markets. Almost every product market in the major world economies—computers, fast food, nuts and bolts—has foreign competitors. Trade barriers are also falling; the recent United States/Canada trade agreement and the impending 1992 harmonization in the European Community are the two most dramatic examples. Japan is gradually opening up its long barricaded markets. Maturity in domestic markets is also driving companies to seek international expansion. This is particularly true of U.S. companies that, nourished by the huge domestic market, have typically lagged behind their European and Japanese rivals in internationalization.

According to Isobele (2008), in the book, International Marketing Strategy, International Marketing is defined as the movement of a firm’s marketing strategy that uses one or more marketing mix decisions across national boundaries. It involves the firm in establishing manufacturing or production facilities around the world and coordinating marketing strategies across the globe. Where the marketing activities of an organization include activities, interests or operations in more than one country and where there is some kind of influence or control of marketing activities from outside the country in which the goods or services will actually be sold. Sometimes markets are typically perceived to be independent and a profit center in their own

In order to develop a global strategy, the deep understanding of the term ‘globalization’ is very important for every company.

Ghauri and Cataora, in their book, “International Marketing”, state that “the analysis of international Marketing in emerging markets is imperative in today’s business environment.” Indeed, with the saturated markets and low future growth prospect in developed economies such as the US and Western Europe, emerging markets such as China and India are becoming unprecedented attractive for investors for their rapid economic growth and open and stable political landscape. However, before an investor decides to invest in any region of the world, a market research needs to be conducted to present if a market is suitable for an investment. To determine the feasibility, an international marketer needs to research into a country’s economic

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.

As trade increases hyper-competition grows forcing organizations to go global. By a company going global it requires them to rethink strategy and reform (Ananthram and Pearson, 2008). Global organizational structure is the way a company aims to merge local preferences with global strategy. The definition of global strategy is “strategic choices that have the characteristics of being globally uniform or integrated,” (Yip et al., 1997) such as standardization of products, uniform marketing, and competitive moves, but all globally (Townsend et al., 2004; Zou and Cavusgil, 2002; Bayraktar and Ndubisi, 2014). Global strategic strategy is a way to adjust to globalization. Globalization is “the economic and social process by which economies and communities grow inextricably interdependent “(Jhirad et al., 2009). The recent financial crisis (Das, 2010), large amount of poverty, and climate change are all problems that show how the world is globally connected because all countries impact each other (Jhirad et al., 2009).