Global Market Strategies Essay

3454 words - 14 pages

This literature provides information on global marketing strategies, which are practised in the global market environment. It discusses the concept of identifying target markets and reviews the major markets in the world and also provides population and income statistics. It also provides a brief review on the emergence of triad markets, which are United States, Canada, Japan and Western Europe. It also outlines market entry strategies such as via exporting, contractual agreements, joint venture and manufacturing. The global market environment such as culture, politics, legal aspects, commercial practices and economic climate and its effects on an organisations decision to go global are also discussed. A strategy for global marketing program has to decide between a localised or standardized strategy in their efforts to gain brand recognition. Three important areas in international marketing are configuration of marketing activities (what are the activities that need to be undertaken in the host country?), coordination of activities (method adopted for product promotion, transfer of knowledge and skills, arranging marketing programs and collaborating efforts of different marketing groups in different host countries) and linkage of international marketing with other operational functions.The articles below are literature reviews on how organisations employ global marketing strategies; how cultural and political factors play an important role when an organisation chooses to have foreign business interest. It also provides a critic of the global strategy by citing emergence of triad markets and a research on a suggested business term, which is brought upon as an implication of global trading but focusing on trading done regionally within the EU. It further provides articles for international marketing targeted an SME's and also provides pointers on how to avoid pitfalls of global marketing.Viewpoint: The myth of global strategy Alan M Rugman. International Marketing Review. London: 2001. Vol. 18, Iss. 6; pg. 583, 6 pgsThis article serves to focus on triad markets It suggests that organisations should not adopt global strategies as emphasised in the main article but design triad-based regional strategies as rival multinational enterprises (MNEs) from the triad compete for regional market share and so enhance economic efficiency.MNEs are not monolithic; in fact, the largest 500 multinationals are spread across the triad economies of NAFTA, the EU, and Japan/Asia resulting in the fact that world trade is highly regional and not global.The majority of world trade in the European and Asian triads is within their internal markets and for North America nearly half of its trade is also intra-regional. Most of the rest of world trade is between triad members.Strategies suggested sway from the framework provided in the core article. It instead emphasises on a need to switch toward a triad concentration, such as do not assume there is an integrated global...

Find Another Essay On GLOBAL MARKET STRATEGIES

Philips Essay

546 words - 3 pages capabilities? 3 Discussion in Session 4 - Readings 3.2 and 3.3  Demonstrate multiple ways for MNEs to build competitive advantage  The constant in a dynamic competitive environment is the need for the MNE to build, layer by layer, its capabilities  Reading 3.2:  What were the strategies undertaken by domestic players to protect their market niche?  Reading 3.3:  What were the firms' strategic

NUCOR In 2005 (Case Summary) Essay

764 words - 4 pages and tendency of global consolidations. It became evidence that companies who were previously focusing on domestic markets went international acquiring both domestic and international companies gaining market power.In addition to cheap imports US steel industry was facing high energy prices, increasing labor costs, increasing costs for technological innovations, decreasing demand by customer industries, more tensions due to government environmental

Understanding Multinational Enterprises (MNE’s)

907 words - 4 pages INDEX 1. Multinational Enterprises (MNE’s). 2. Structure of MNE’s. ➢ Horizontally integrated MNE’s. ➢ Vertically integrated MNE’s ➢ Diversified MNE’s 3. Generic strategies of MNE’s. ➢ Global integration strategy. ➢ Host country focus strategy. ➢ Hybrid international strategy. 4. SWOT analysis of MNE’s. 5. Advantages of MNE’s. 6. Disadvantages of MNE’s 7. When is a company classified as an MNE’s? 8. Top ten MNE’s in the world. 9

marketing

1159 words - 5 pages strategies used. Without marketing a business may offer the best product or service but no potential customers would know about it. It is through the use of marketing strategies like market segmentation, product/service differentiation and positioning and global marketing that a business is able to develop greater brand awareness and loyalty, increased sales and profit which have a significant impact on achieving strategic goals of a business, greatly impacting on the success of businesses such as Apple.

Cooperative and International Business Strategies

1620 words - 7 pages strategies based on the region the company is marketing to attract the customer’s attention. It has a very wide scope since the market runs globally. The major differences between domestic and global markets with the explanation are presented in the following chart: Domestic Market Global Market Stable: Because it targets the single market Unstable: Because it targets the multiple markets Predictable: Because it has a single set of customers

Globalization

1120 words - 5 pages strategy. Building a network with educational establishments and using international talent pools are also strategies that might be used when recruiting global talent. Talent Management Initiatives Developing and building the global talent Post 911 the US economy suffered a downward spiral. American companies historically, had the luxury of recruiting talent in places like India and China because of the low cost of the labor market. However

Innovation Management and Market in Global Enterprises

937 words - 4 pages strategies as outlined in the article is understood to impact the product’s value to the end-user in the form of increased customer appeal and utility, and to the business entity in the form of increased revenue. Extending and sustaining the market base is the desired end result of the innovative process. The topic is of great interest to the writer as there has been a noticeable increase in competition in the market place in the global business

Relation Between Globalization and Branding

634 words - 3 pages Globalization is about all those things that affect the reach and influence of firms, as well as governments, as they expand their horizons internationally. Firms have changed the way they participate in trade and the global economy. In rest of the world, market opportunities contrast with the slow growth of mature markets in Europe and the U.S. This has encouraged firms in the food production and distribution industries, from Deere & Co. and Du

strategies

2335 words - 10 pages . They do not have to consider about other multinational corporations. The multinational corporation gets the global images through fully owned subsidiary. One drawback of this strategy is that it involves higher level of risk and it is very expensive (Venter et al. 2007). 2) Joint ventures: Joint venture is one of the most common strategies adopted by emerging market Multinational Corporation to enter market foreign market. In joint venture an

ICI Paints

10119 words - 40 pages the demand requirements, and the development of export channels."¢ International marketing: Own sales subsidiaries are participate and develop entire marketing strategies to understand the different environments."¢ Multinational marketing: Development of assets abroad by using domestic strategies. This gives the maximum amount of localisation."¢ Pan-Regional Marketing: Grouping different countries of one region to one entire market

Modifying Marketing Strategy for Different World Markets: How do Multinational Companies Approach this?

1241 words - 5 pages direction in which the organization is developing, where the organization is going, where the organization is or where it should be. In fact, problems mentioned by them are the biggest headache and trouble maker for most international enterprises, thus marketing strategies enable companies to find out how and where to develop. As Hill (2005) sees the marketing strategy in international business, nowadays, process of the global economy and

Similar Essays

Russian Standard Vodka: Strategies For Global Branding And Expansion Into The Us Market

2573 words - 10 pages 1 Adalbert Guillaume MIM28 09/12/2013 Business Report Russian Standard Vodka: Strategies for global branding and expansion into the US Market. I. Executive summary Mission statement Founded in 1992, Roust Inc. first business was the distribution of imported goods into the Russian market. Taking advantage of the perestroika and glasnost, Roustam Tariko used his knowledge of the Russian market to develop imported spirit consumption, and even get

Global Competitors Essay

641 words - 3 pages opportunities. To seize market opportunities, global businesses can be positioned as a new business or make changes on existing industry.Second, competitive advantage. Each global company should be able to take advantage of opportunities to create value in order to have a competitive advantage. Porter in Kristanto (2011:112) reveals two basic strategies to achieve competitive advantage namely through the low cost strategy and differentiation strategy.Third

Case Study In Boeing

545 words - 2 pages provide recommendation measures for the optimization and the continuation of the future performance and success of the company. The recommendations are examined for the realization of any risks and obstacles that may affect the future success of the suggested strategies. Finally, the current status of the company in the global market and the recommended business strategies are summarized and presented.No industry in the United States better

Ikea: Target Market And Positioning Strategy

1304 words - 5 pages prices. Positioning Strategy Effective positioning strategies allow companies and organizations alike to gain and sustain superior business performance (Cravens & Piercy, 2009). IKEA’s target market is those individuals that make up the global middle class. The global middle class includes young, trendy adults who like getting durable products for reasonable prices. A company’s positioning strategy is how they communicate and advertise their