The induction and diffusion of the effects of globalization in various parts of the world has been fast forwarded in a tremendous manner by the easy availability of high speed internet connectivity in every corner of the world. The easy availability of information in the various forms of virtual media like the online media forums, social networking sites and blogs have significantly contributed to the faster dispersion of the effects related to globalization. This has brought into play, a significant and constant process of change in the macro and micro environmental factors related to the development of business opportunities in the established as well as the developing economies of the world. As a positive impact of globalization, there has been a significant increase in the opening up of economies around the world. As a result of opening up of economies of various emerging and developing countries, new markets are emerging from various corners of the globe. The steady rise in the opening up of new markets around the world is leading to a tremendous increase in competition in the global marketplace. Talking on this note, it can be said that the process of opening up of markets around the world is allowing organizations located in various parts and corners of the world to look for opportunities related to market expansion by applying various strategy-based methodologies and action plans. This approach of entering new markets, by various international firms, is leading to the rise of business practices in the domain and arena of international business practices. Theoretical framework: International business Talking about international business, if we wish to define it, it can be said that the international business or international trade comprises of various business activities that are undertaken by business organizations around the world to develop new markets for the purpose of gaining significant growth opportunities by catering to the demands arising from the new markets. In an effort to do so, the international firms focus on the process related to generating, communicating, delivering as well as capturing of value for the customers of the new markets while customizing the product or service features as per their needs and requirements (Dlabay & Scott, 2011, p. 8). The concept of international business is also highly applicable and relevant in the case of various business firms who look forward to tapping significant amount of business opportunities by providing their services and products to various remotely located clients and customers who dwell in different countries. In the context of various business to business scenarios, international business represents the process of conduction of business between various business organizations through the mass conduction of import and export of goods and services. For the process of conduction of international business, opening up of economies as well as setting up of various investment friendly policies and tax laws in the new and developing economies is very essential. It is highly important to mention in this case that the flexibility in multiple government outlined policies and regular evaluation
Global Marketing Strategy Table of Contents Global Marketing Strategy 1 Table of Contents 2 Introduction 3 Theoretical framework: International business 4 Strategy for entering new markets 5 Entering through Collaboration and Partnership 5 Entering through Acquisition 6 Setting up manufacturing facilities in international locations 6 Risk and Barriers in International Business 6 Political risk 6 Cultural Risk 7 Tariff barriers 7 Currency Fluctuations 7 Default Risk 8 Overview of Bottled water market: Brazil 8 Recommendation 9 Conclusion 10 Reference 11 Brewer, T.L., 1985…
The paper focuses on product and marketing strategies of a cosmetic and beauty products retailer, Superdrug based in United Kingdom in its bid to make a foray into emerging markets like India. Superdrug is an established retailer in United Kingdom through conducting its operation via 900 stores.
The expansion overseas is often considered as the most effective solution for firms that need to stabilize their performance, especially when these firms are established in highly risky or turbulent markets. In practice however, it has been proved that the effectiveness of such plan is depended on many factors; the experience of a firm in similar projects is of critical importance for the successful expansion of the firm in a new market (Albaum and Duerr 2008).
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Global Marketing Strategy.
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12 pages (3000 words)Essay
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