Strategies for International Marketing

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.

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.

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.

international marketing can include all these activites incluing licensing,importing and exporting, and franchising or the full direct entry of one country into another country for business objectives. This is achieved by one country exporting other countries’ products into its own business environment; it can also enter on franchising terms or through licensing in the country of interest, or direct investment in the foreign country. Market mix development involves product promotion, product pricing and the product development and needs international marketing (Ball et al, 2006). This can be very simple as it would mean only an extension of the current market strategies in the parent country into the target country’s entire customization of the marketing mix.

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.

Furthermore, the government is willing to make the country more liberal. In this intent, Brazil is a part of the Common Market of the South, Mercosur which has founded Common External Tariffs (CET) for Argentina, Brazil, Paraguay and Uruguay, concerning a growing number of products. In the geographic area of Mercosur, the tariffs are also eliminated, and factors of production (labour or capital for example) can move freely. These CET apply for equipment goods at rates included between 0% and 14%[ http://www.septimanie-export.com/fr/fiches-pays/bresil/acces-au-marche] (numbers given for the tariffs applied on the CIF[ Cost Insurance Freight] price of goods). This is a big opportunity for Ikea, because reduced tariffs would reduce prices on their imports to Brazil if they set up one or more outlets there.

Companies expand into foreign markets to achieve lower production cost and increase competitiveness, gain access to new customers, access the and labor resources, mitigate the risk spreading across larger markets and capitalize the core competencies. Companies gaining competitive advantage are based on many of the complex factors such as location, risks of adverse shifts in currency exchange rates, local business climate, local government policies, cultural differences, demographic, and market conditions that influence the strategy options for the global market.

In order to globally connect with the target market and successfully market products internationally, it is important for a company to know the market, recognize cultural values, localize the marketing campaign, and take into consideration the language barriers.

Marketing strategy is an important aspect of any business's sales and long-term success. As outlined by Ataman et al. (2010), it is the entire marketing mix that has an impact on the performance of mature brands in the long term. One of the factors in the marketing mix is the place. For mature businesses, it is extremely important to explore new locations and opportunities for resources and expansion. Oviatt and McDougall (1994) elaborate that while there are organizations that operate on the International level since inception; there are others for which it is really important to explore new ventures. The authors present a framework for this purpose in which they identify four elements that are important for multinational enterprises. These characteristics include internalizing some transactions, relying on alternative governance for accessing resources, establishing advantages through foreign locations and gaining control over unique resources. Emerging markets are proving to be the center for new ventures because of the opportunities, unique resources and facilities they have to offer. Other than the physical resources and legal facilities, as outlined by Catorelli and Goldberg (2009), there has also been immense globalization of banking because of which local as well as foreign owned banks are increasing their exposure for cross-border funding to increase opportunities for capital, rather than just concentrating on

For most manufacturers, success or failure is determined by how effectively and efficiently their products are sold through their marketing channel members (e.g., agents, wholesalers, distributors, and retailers). Given this situation, considerable marketing channel research has focused on organizational responsibility for managing channel how interrelationships among a firm and its channel members can be managed better (Achrol and Stern 1988; Anderson et al 1997). Globalization of markets is a phenomenon that has received much attention and been extensively debated both at general societal/institutional/cultural levels and at market and business levels. In any globalization process, distribution of goods and services

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

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 market entry is important because it enables an organization to increase its output and attract new customers. By expanding the customer base and the scale of production, the business will be able to achieve economies of scale. That is, the organization can be able to reduce the average cost per unit of production when the level of output is substantially increased (Stephan and Roin 28). After international expansion, cost advantages and higher profit be obtained through bulk purchasing, enjoying high turnover rate and paying lower interest rates on loans.

Mihaela Belu Andreea Raluca Cărăgin Entering new foreign markets may be achieved in a variety of ways. Each of these ways places its unique demands on the company in terms of organizational and financial resources. Most of the times, entering international markets is not a matter of choice but of necessity to remain competitive in new or established markets. Our paper is going to analyze the possibilities that a company has when entering a foreign market, decision that is very important and which involves market assessment and analysis. Key words: Uppsala Model, Birkinshaw Model, exporting, franchising, licensing, strategic alliances JEL classification code: F21, F23,

This research is focused to understand how a Global company is able to adapt to different marketing situation that is existing in different countries. A company can said to be Global if it can sell its products at a reasonable price with a dependable quality in every nation it serves. The concept of Global Marketing is viewing the entire set of countries markets as one unit and then developing a marketing plan through cost standardisation.