QUESTION
Please Sir, First of All read the Guideline It is very importand it will tell u how to write the 1000 words essay answer with examples…. and secondly u have to read these 2 PDF file Topics which is on International marketing and u have to make essay for both topics the words should be 600 words for each topic with examples…..
please i want an A grade answer so do write essay for both topics separate…. and provide examples more thank.
SOLUTION
International Marketing Strategy
There are numerous factors which influence a company to take decision of going international. Saturation in domestic market, decreasing size and low growth prospects of existing market, impact of product life cycle, changes in government policies, changing preference of customers, outsourcing from other countries are some common reasons. Coca-cola can be considered the biggest example of a company who chose path to go international. America was the domestic market for the brand. But probably all the mentioned factor forced company to take global route. While selecting foreign markets, a company has to consider various issues. They are broadly divided in two categories, macro environmental and micro environmental issues. Economic condition, for example whether the target country is developed, developing or underdeveloped; social and cultural factors for example a company who is into business of intoxicants will not prefer Indian market as the use of intoxicants by men and women is not supported morally in this country and political-legal environment are the major macro environmental issues. Micro environmental issues like the level of opportunities available in the target market and company’s capability to take benefit of opportunities also play major role.
Product fit is an important market selection criterion for a company. Whether company will introduce its standard product in new market or whether it will adapt the preferences and taste of new market and accordingly bring change in its existing product is a major decision to be taken by company. For example, Nokia adapted low cost mobiles to target the Indian consumers who have low purchasing power. Though standardization result in economies of scale but it is very difficult to operate through a standard approach in different markets where all countries have different culture and social beliefs, language, style of living. Thus to meet the local tastes and preferences one need to take the route of adaptation not only in case of product but also in packaging, promotion and positioning of product. Other criteria for selecting a market are what is the size of the target market i.e. whether it is Worth pursuing or not, how much growth can be expected there, even if the market is small, it may be profitable if there are indications that it will grow, what is the position of competition because many times low level of competition makes small markets equally attractive, can company access the target market with resources available and whether the goal and requirements of target market align with each other or not.
Direct export, indirect export, licensing, franchising, joint venture and direct investment in the form of acquisition of existing facility and developing new facility are the major strategies to enter into a new market. The risk profile of a company is a major determinant of the entry mode that a company is going to take in the new market. Under joint venture approach two companies join hands to do business in host country on a share basis. For example, Sony-Ericsson is a joint venture by the Japanese consumer electronics company Sony Corporation and the Swedish telecommunications company Ericsson. In case of direct investment strategies various factors are to be considered like various costs involved in developing new facilities like labour, material, manufacturing etc.; political and legal environment; sources and cost of finance; taxation policy in new market etc.
When a company decides to go international, it is exposed to various risks. Financial risks such as danger of losses, inflation, slowdown and adverse currency movement; performance risks such as failure to meet the requirements of new customers or failure to face the competition, security risks like war and social risks like language and cultural differences are few examples.
There are a number ways an organisation can start to sell their products in international markets. After deciding upon the strategy to enter into the new market, company form marketing strategy. The decision that company has to take is whether they will introduce the same strategy which they have in their home country, or will they modify the product, or will they launch a new product. For example, in America, there are 15-20 chewing sticks in a chewing gum packet as Americans are fond of chewing and have more purchasing power. But when a company is introducing this product in a country where people have perception to spend less on these kinds of products they will have to change the packing style of the product.
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