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...


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