International Marketing
Brandon Isaac Setiawan
February 26th, 2014
Should Global Businesses Adapt to National Peculiarities? Presently, globalization and international markets are growing in importance. More companies are seizing the opportunities appearing in the international marketplace, as the world grows more connected through the use of new technology and international trends. With global companies all wanting a part of the global wealth available, competition becomes fiercer and fiercer as businesses need to prepare and implement innovative strategies in order to succeed. Effectively managing international businesses across many countries is certainly proving to be one of the major challenges in the global market today. Only the best of global companies truly profit, as international markets are places where companies with success and mediocre statuses are divided. But to succeed, a structural arrangement needs to be put in place. There are a variety of different marketing strategies out there. For multinational companies, the challenge remains as to which marketing strategy they see fit to bring them to global success. There are two main strategies that companies commonly use. The first one is the marketing mix strategy, which is where the original products are sold and modified to accommodate specific cultures. For success in this strategy, companies must determine and adapt to the differences in values, customs, languages and currencies. This will mean that some certain products will only suit certain countries according to their customization. The marketing mix strategy uses the company’s flexibility towards the product to its advantage. For example, a marketing product mix A should only be specifically marketed in region A, while a product mix B will be sold in region B. This means that each product is customized to be sold in a specific market. This lowers the risk of international products being rejected by locals. Before marketing, scouting should also be done
February 26th, 2014
Should Global Businesses Adapt to National Peculiarities? Presently, globalization and international markets are growing in importance. More companies are seizing the opportunities appearing in the international marketplace, as the world grows more connected through the use of new technology and international trends. With global companies all wanting a part of the global wealth available, competition becomes fiercer and fiercer as businesses need to prepare and implement innovative strategies in order to succeed. Effectively managing international businesses across many countries is certainly proving to be one of the major challenges in the global market today. Only the best of global companies truly profit, as international markets are places where companies with success and mediocre statuses are divided. But to succeed, a structural arrangement needs to be put in place. There are a variety of different marketing strategies out there. For multinational companies, the challenge remains as to which marketing strategy they see fit to bring them to global success. There are two main strategies that companies commonly use. The first one is the marketing mix strategy, which is where the original products are sold and modified to accommodate specific cultures. For success in this strategy, companies must determine and adapt to the differences in values, customs, languages and currencies. This will mean that some certain products will only suit certain countries according to their customization. The marketing mix strategy uses the company’s flexibility towards the product to its advantage. For example, a marketing product mix A should only be specifically marketed in region A, while a product mix B will be sold in region B. This means that each product is customized to be sold in a specific market. This lowers the risk of international products being rejected by locals. Before marketing, scouting should also be done