There are three major strategy options for international expansion: Multidomestic: The organization decentralizes operational decisions and activities to each country in which it is operating and customizes its products and services to each market. Global: The organization offers standardized products and uses integrated operations. Transnational: The organization seeks the best of both the multidomestic and global strategies by globally integrating operations while tailoring products and services to the local market. In other words a company ‘thinks globally but acts locally’.
Global electronic communications and connectivity can help integrate operations while flexible manufacturing enables firms to produce multiple versions of products from the same assembly line, tailoring them to different markets. This gives more choice in locating facilities to take advantage of cheaper labor or to get the best of other factors of production (Karl, (2002), Global Marketing) Contract Of Sale The purpose of international marketing is to determine and communicate a picture of enterprise through a system of major objectives and policies.
Export is concerned with at unified direction and efficient allocation of organizations resources. A well made export planning guides managerial action and thought which provides an integrated approach for the organization and aids in meeting the challenges posed by the new goal. The nature of International marketing is correlated by the following facts: It is a major course of action through which an entrepreneur relates itself to its new objectives particularly in meeting the target of the organization.
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It is the combination of actions aimed to meet a particular target, to solve certain problems or to achieve a desirable end. The actions are different for different situations. It is future oriented which are required for new situations which have not arisen before in the past. It provides overall framework for guiding enterprise thinking actions. It requires some systems and norms for its efficient adoption in any organization. International Marketing is relevant to growth provided it is viewed as a total business effort.
Marketing effort on the part of the firm both at the macro and micro levels is relevant to growth. Customs / tax / export or import certificate / sanitary certificate / import or export regulation The planned alternatives revolve around the point whether to continue or change the business. There are three alternatives:
- Retrenchment Stability: The company serves with same product, in same market and with the existing technology.
This is possible when environment is relatively stable. Modernization, improved customer service and special facility may be adopted in stability. Expansion: This is adopted when environment demands increase in pace of activity. Company broadens its customer groups, customer functions and the technology. These may be broadened either singly or jointly. This kind of such plan has a substantial impact on internal functioning of the organization. (Hamel, G, Collaborate with your Competitors and Win)
Retrenchment: in which the organization has to reduce its scope in terms of customer groups, customer functions or alternative technology. Regulation impacts Factors which influence market plan directly including suppliers, customers and competitors . Factors which influences the firm directly including social technological, legal and economic factors. For doing the international marketing, there can be the strategic advantage profile which provides for analysis of internal environment, and the organization capability profile as well.
For analyzing the external environment, competitor’s threat and opportunity profile has been adopted. An organization has to continuously grow in term of its core business and develop core competencies. The analysis provides for elimination of alternatives which are inconsistent with the organizations objectives. External threats and opportunities, strengths and weaknesses help in identifying the relevant future planning for detailed analysis of the management.
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Marketing Management Planning. (2018, May 22). Retrieved from https://phdessay.com/marketing-management-planning/