Why going global has become essential?
Important Factors In Market Entry Strategies
Market Entry Objectives
Reasons of Failure Of Market Entry Strategies
International marketing and Market entry strategies for customer centric companies
The foray of international market entry strategies in Retail sector
Factors influencing international market entry strategies
International product, service, distribution, pricing, and logistics
Penetration Level affects marketing and sales strategies for any multinational giant
Planning of International Marketing and operations in accordance with organizational development
For many companies, International market is touted to be of foremost importance. Multinational giants like Nokia, Hewlett Packard, Wall-mart, and JP Morgan are just a few fine examples of companies operating in different markets. The primary goal, focus, and targets of these companies are different for every country. One of the primary reasons for this is difference in key international environment. The marketing, operation, and sales strategies also changes according to the international scenario. For instance, companies like Nokia and HP focus on low cost products in developing countries like India, China, and Brazil. The international environment often forces a large number of companies to change their marketing strategies. (Slack et. Al, 2012)
International marketing and market entry strategy
Any multinational company that aims to expand its presence in different countries worldwide has to focus consistently on its international marketing strategies as well as its strategies for market entry. Indeed, the strategy for market entry is a key concept and is used by many corporations around the world when they devise plans to penetrate new markets.
The marketing entry strategies are formed once a company has made a decision to go global and penetrate the foreign markets so as to expand and diversify its business operations and enhance business profitability and revenues which is critical for consistent growth of the business over the long term. They main aim of any market entry strategy is to choose the relevant tactics before the company commences its business operations and launches its products or services in new markets. (Gelfand, Erez and Aycan, 2007)
How effective any market entry strategy turns out to be is of great help to the company’s management to ensure the business is a success in a new market and also enables the management to take further steps at expanding its business operations. The market size as well as the strengths and weakness of the existing market players are integral variables which the organization needs to well consider before they develop and implement any market entry strategy. (Luna, and Gupta, 2001)
Why going global has become essential?
While manufacturing costs continue to rise, companies’ profits are not growing at the same rate. Organizations have to invest a lot in research and development so as to lure new customers and retain the existing ones with new, innovative products or services. In the contemporary world, no corporation can neglect the significance of a well-designed market entry strategy when thinking to penetrate a new market. This is an era of liberalization and globalization, and thus, the importance of market entry strategies has become more pronounced than ever. This clearly depicts that it is critical for corporations to factor in how vital market entry strategies are if they want to have a successful global business and also attain all objectives related to their line of business. There are several marketing literature which clearly highlight the need of strong market entry strategies. Most of these literatures also discuss the favourable impact created by these strategies on the business activities of the organization in the long run.
- Quote paper
- Charles Billy (Author), 2011, International Marketing and Planning, Munich, GRIN Verlag, https://www.grin.com/document/270832