The economic reforms adopted by the governments in different economies across the world led to the inflow of investments by the companies in the foreign countries which opened up the global markets for the companies of different sizes across the world. The transformation in the business environment led to the modification in the international strategies adopted by the companies. Thus the marketing environment and the culture of the companies underwent rapid changes over the period of time. The developments in the market environment and the strategies adopted by the organizations have come up in order to respond to the changes in the consumer behaviour and demands of the customers in the economy. The advancement in communication technologies and other online applications as a result of strategic implementations in the global markets have changed the outlook of the customers of the companies. The customers have become more aware of the information on the products and the services offered in the global arena. The level of awareness of the customers has increased and they have started to weigh the different options for the products and services offered by the companies in the international markets. The customers have learnt to define their needs in a far better manner and seek solution to satisfy their wants on a consistent basis (Andrus, 1990, p.430). Apart from this, there have an increase in the competition among the business houses for offering the products and services in the market. In order to gain competitive advantage, the companies started to focus on their strategies to avoid duplication of information on the products and services offered by the company. This led to the standardization of the offerings and marketing interactions as an important trend in the international marketing strategies of the companies. International Marketing strategy The standardization of product offerings and marketing interactions is extremely important for the multinational companies in order to increase the acceptability of the business in the eyes of their customers. As the approach of standardization helps the companies to achieve success in the business operations, the multinational companies include this approach in the international marketing strategies designed by the multinational organizations. The companies that have wide spread operations in various markets across international boundaries considers the changing trends of consumer behaviour in order to design international marketing strategies that are important for achieving successful and sustainable business operations. The experience and learning gathered by the companies in the local markets are applied to the several foreign markets where the company has expanded its operations. The companies ensure that there is no duplication of the information available to the customer on the product and service offerings of the company in different international markets. The international marketing strategy also takes into account the activities of promotion and marketing interaction done by the executive in several foreign markets. The sequence of penetration and expansion of the business in the foreign markets are important part of the international marketing strategy (Cavusgil, 1994, p.20). The multinational companies that operate in the different foreign market are faced with situations of varying market demands and consumer behaviour
Complete standardisation of offerings and marketing interactions in International Marketing strategy is always the main goal to achieve, and pursuing it will inevitably provide a company with higher performance.” Please discuss, using conceptual arguments as well as practical…
Messengers, who generally travel by bicycle, maintained one consistent problem: when attempting to deliver their goods and services, the riders always found their bags wet. The Freitag brothers set out to design waterproof, functional and heavy-duty bags that would withstand the elements for this specific purpose (Freitag.ch 2012, p.1).
Most often, innovation is conducted as a private activity within an organization in a series of narrowly managed steps. Keeping in mind the importance of marketing and innovation, companies must understand their product to be able to market them. According to Bill Campbell in an interview, only engineers know the information that they should get and deliver about the product they have produced and only effectively communicating that information to the customers would yield desired results.
ive Strategy (Porter’s Generic) 15 4.2 Segmentation 18 4.3 Ansoff Matrix for Proposed Strategies 18 4.4 Positioning 20 5.0 Market Mix Standardization vs. Adaption 20 5.1 Product 20 5.2 Price 21 5.3 Place 21 5.4 Promotion 21 5.5 People 22 5.6 Process 22 5.7 Physical Evidence 22 6.0 Implementation, Evaluation and Control 22 6.1 Timescale for Each Objective 22 6.2 Total Marketing Budget Available 23 6.3 Control and Feedback Systems (Balanced Scorecard) 24 7.0 Conclusion and Recommendations 24 References 26 Bibliography 29 1.0 Introduction This report is an effort to develop a marketing plan for Holiday Inn in UAE.
Such conditions include the policies of operation, the standards of goods, and other conditions that determine the kind of services and goods that a company uses to operate (Dana, 2006, p. 30). One of the challenges of standardization is that the international market is controlled by different strategies and conditions.
The globalization of the world has though created much of an ease but alongside has given many of the challenges of intense nature. Operating in different economies and different situations companies realized that when they standardize their offerings and their marketing interactions there is a high probability of high performance inevitably.
With Russia having approximately 100% literacy rate, over 140 million people, a growing economy and enormous reservoirs of natural resources in its expansive land mass, it provides an appeasing market for many businesses. However, even after appreciating these aspects, it is crucial for businesses seeking to expand in this market to understand the various macro and micro influences of doing business in Russia.
that are fascinated by foreign products and brand names, as well as the middle class, who have demonstrated an increasing willingness to consume new products and services (Lister, 2014).
In the initial stages – within the first 4 years – acquisition will focus on direct
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