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Global Marketing - Essay Example

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This report will first do an environmental audit of both the countries through the PESTEL and Porter’s Five Forces tool, and by focusing on the market as well as the competitors. Secondly, the report will set the SMART global marketing objectives for going international…
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Global Marketing

This research will begin with the statement that organizations, which are operating in any industrial sectors including in the sector of Information Technology (IT), would want to expand their operations into foreign territories due to various factors. That is, organization could think about entering foreign markets if they have achieved optimal success in the home market, or due to heightened competition or saturation in the home market, or due to good opportunities in the foreign market, etc, etc. Whatever is the motivation for the firms to enter foreign territories, it is paramount on the part of the organization to study the foreign market in an in-depth as well as extensive manner. Various factors will be at ‘play’ in those foreign markets, and those factors will either aid the entering organization or will pose a major challenge to the organization. These factors will be visible both in the macro as well as in the micro environment of the organization. In the macro-environment, factors including political, social, cultural, economic, etc., could impact the entering organization. In the micro or in the immediate environment of the firm, market factors including competitors, recent trends, etc., will impact the organization. After analyzing these factors, the firms have formulate a set of objectives, so they have can have a clear path, regarding what to achieve and how to achieve those objectives. The next key process is analyzing the various entry modes and finding out the best entry mode. The firms should also plan out the marketing strategies that have to be implemented in the entering countries before-hand, so they can aptly reach their products or services to the intended customers. All these key processes will be applicable to our software development firm as well. Our company is a medium sized software firm developing software for applications in many sectors particularly electronics and communications sector. In our home operations in UK, we have around 2000 employees working in our various offices in number of cities. We are achieving optimal success and good profits in the UK market, but still some competition is emerging. Although, we can aptly fight the competition, with the intention to grow further, we are looking at foreign expansion. So, after achieving great success in the UK market, our firm has decided to broaden our horizons and target, initially the two foreign markets of Brazil and India. This report will first do an environmental audit of both the countries through the PESTEL and Porter’s Five Forces tool, and by focusing on the market as well as the competitors. Secondly, the report will set the SMART global marketing objectives for going international, then will discuss about the entry modes, finally ending with the discussion about the marketing strategies that has to be implemented for optimal success. Environmental Audit Every market or country including Brazil and India has certain unique or common political, social and economic conditions, along with different clients’ base, consumer behaviour and competitors. These distinct aspects could aid as well as impede the organisations’ entry into that particular market as well as the resultant success. So, understanding and analyzing these aspects behaviour in relation with the product or service is a key necessity. Based on this analysis only, the marketing strategies need to be formulated, so that organisation can reach maximum customers, entice them and importantly build long-term relationship, thereby retaining them. As the above mentioned country specific aspects need to be mainly analyzed in relation with the product that is going to be launched, the product’s profile should ‘fit’ with the consumer of that particular market. Although, it applies to all product range, it is of utmost importance to the firms dealing in the IT sector. So, from the above understanding, it is clear that, the macro and the micro environment for the software firms as well as the consumer behaviour in the Brazilian and Indian market has to be analyzed, based on ... Read More
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