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International Business Essay

2114 words - 8 pages

TABLE OF CONTENTSQUESTION1INTRODUCTIONPLACE AND DISTRIBUTIONPROMOTIONPRODUCT/ PRICEPEOPLEPROCESSPHYSICAL EVIDENCERELATIONSHIPSCONCLUSIONREFERENCESQ.Using one specific multinational enterprise with which you are familiar, examine the ways in which it has used the international marketing mix in its overseas operations. Explain your reasoning behind the choices it has made. Suggest any changes it might make to the international marketing mix over the next few years. Explain your reasoning.The multinational enterprise of choice is Mittal Steel, which is situated in the Caribbean island of Trinidad and Tobago. Other sister companies are located in the U.K, U.S.A, Canada, Netherlands, Poland, Germany, Czech Republic, Kazakhstan, Bosnia, Romania, South Africa, Algeria, France, Mexico and China. The products offered are direct reduced iron steel bullets and a range of carbon steel wire rods.The marketing mix is a tactical toolkit of product, people, place, price and promotion that a company can control in order to satisfy its customers (Dibb and Simkim 2001.) International marketing is performed across national boundaries.It is believed that marketing has evolved from 4 P's to 8 P's between the 1850's to 1990's. The first era was the production era which took place between the 1850's to 1920's. The industrial revolution occurred during this time and was followed by mass production and rigidly structured jobs. During this era, products were developed without thought for finding customers or creating a competitive edge over rivals. The sales era then followed during the 1920's to 1950's. This was where businesses focused more on personal selling and advertising. It was seen that the major means for increasing profits was through sales. Customers were now persuaded to want the products which were handed over to the sales force. During the period 1950's to 1990's, the sales era was being replaced by a more customer-oriented one, as businesses were more concerned with the wants and needs of the customer before products and services were introduced to them. This period was known as the Marketing Era. It is believed that the marketing era has recently shifted from transaction based to being more focused on relationships. It is argued that the focus of marketing was on attracting new customers or orders, but now businesses recognize the importance of marketing as being able to hang on to new customers so that they become repetitive buyers and also long term loyal customers. Marketers now devote their attention to both winning over new customers and building positive ongoing relationships to maintain loyalty and custom.With these evolutions in the Marketing Era, so did the marketing mix also evolve. The marketing mix evolved from four P's (product, price, place and promotion) in the production era, to the seven P's in the marketing era which included the first four and people, physical evidence and process and then to include relationship at present.Place and...

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