Cultural Aspects Of Marketing Strategies Essay

6389 words - 26 pages

1 International Marketing StrategyStrategy is a firm's theory about how to compete successfully. It represents thecumulative direction of the organization, given the internal and external factors.An International Marketing Strategy has to ensure that the firm's overall businessstrategy is supported. You can divide three forms of business strategies:-differentiation-cost leadership-focusThe differentiation strategy requires special features to differentiate from competitors from the customer's point of view. These features may affect the productitself, pricing, promotion, distribution or also services. Good examples for thisstrategy are luxury goods like e.g. BMW. The BMW marketing managers perceivestheir customers that driving a BMW gives you a feeling of reliability andhaving a high-quality product. In addition advertising spots also transport themessage of having fun with the BMW car ("BMW-Freude am Fahren"). Thesefeatures make the BMW car special and therefore the company is able to chargehigher prices than other car-selling companies.An alternative to this strategy is the cost leadership strategy. This strategy onlycan be achieved by reducing costs. The reduction of costs may affect productionand manufacturing costs, sales costs, cost for material and components but alsothe own profit margin. If marketing managers follow this strategy they concentrateon advertising the low prices and finding low priced distribution channels,e. g. discounters instead boutiques at hot spots like the Königsallee in Düsseldorf.The third business strategy - focus strategy - is adopted by marketing managersthrough concentration on a specific segment or on areas or regions within aconsumer market. Some companies may concentrate on target groups likeSwatch did. Their segment of the consumer market can be described as youngand fashion orientated. Others concentrate their efforts on the distribution; e. g.small companies often sell a specific product via internet. This is a very cheapand easy way of distribution and therefore may increase sales.Before entering into a foreign market a company has to investigate which potentialsthe market offers for the products of the company. Factors like culture, levelof competition, channels of distribution and availability of infrastructure have ahigh influence on the potential of the foreign market. It is possible that a companycan not follow their business strategy in the foreign market like they do inthe domestic market. Then an adaptation of the strategy is necessary.2 The 4 elements of MarketingIf a company wants to enter into a foreign market 4 elements of marketing haveto be considered because they directly influence the business strategy. Theseelements are also called the four Ps of marketing:-Product-Pricing-Promotion-PlaceCollectively they are known as Marketing Mix. The international marketing mix issimilar to the domestic marketing mix although it is more complex. The complexityis the result of more variables...

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