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International Marketing - Essay Example
Pages 5 (1255 words)
Name Professor Course Date Abstract Recently, there has been a considerable rise in the number of multinational companies globally. The global business environment is increasingly becoming competitive and uncertain, necessitating these multinational companies to adopt diverse marketing strategies depending on the market and scope of operation…
Examples of multinational companies are Wal-Mart Stores, Inc., Toyota Motor Corporation and Procter & Gamble Company (Doole & Lowe, 2008). International Marketing In international marketing, multinational companies may adopt either a global marketing approach or a multi-domestic marketing approach. The global marketing approach involves developing a standardized marketing plan, which is implemented with minimal modifications in both home and all international markets. An advantage of global marketing approach is the economies of scale to production and marketing activities. This standardized strategy cuts costs since it allows large-scale production runs and strengthens the image of the brand. A global marketing strategy can nurture collaborative innovation and can excellently boost sales of goods and services to across markets that have common cultures and languages. This strategy is effective particularly in marketing goods with strong, universal appeal. Global advertising media such as international print and broadcasting channels help companies to convey a single message to the international audience (Kaynak, 2002). ...
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