Parker Pen

PARKER PEN Parker Pen Introduction In the given paper, the international marketing strategy used by Parker Pen Company is being researched. Parker Pen is a global company which sells products to over 154 countries worldwide. The company became international in the year 1984, experiencing huge profits since then, however, the managers failed to create proper marketing strategies that would have made them compete in international markets with inexpensive products from other parts of the world. The company also failed to retain the best human resources they had, which makes it hard to retain the continuous success in the market. Marketing Miscalculations Speaking about the product policy, one must mark that the company has a variety of products marketed worldwide. The Parker Pen products used to be sold in different countries without a specific product policy controlling the selling. The Parker

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Pen product life cycle reached its peak and eventually started declining as the company was recognized in the world market, which brought the management led by James Peterson to reinvent the product. However, the CEO team failed to take advantage of the lapse in the market to outline further steps, yet they continued taking advantage of weak dollar and considered the differences between foreign currency exchanges as profits (Schaik, 2002). The use of Parker Pen brand name was important in marketing because it shaped the image of the product. However, in some markets, new brands came into existence, which affected the Parker Pan products. It was very unfortunate for the company to fail to reinvent the brand name. Since the company concentrated on differentiation in markets, Parker Pan missed the chance to reinvent the brand name,

PARKER PEN which led to certain complexities. The product policy of a company embraces all decisions relating to product development, manufacturing and distribution. Product policy always has influence on the selection of the manufacturing

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