Global Marketing. Essay

2463 words - 10 pages

In today's business world, often companies simply cannot stay domestic and expect to maintain and increase their markets. A company must initially decide if it is beneficial to go international and then define its international marketing strategies and policies to create an effective promotional campaign.( transnational corporations have to develop international marketing strategies. Therefore, to understand international marketing better, a detailed understanding of the various stages that a corporation undergoes to become a transnational corporation is required.Basically, there are 4 stages that a corporation goes through before it finally becomes a transnational corporation. These 4 stages are Domestic, International, Multinational and Global. The 5th stage may be termed as Transnational.(Keegan, 2002)In the domestic stage of a corporation, the only target market of the corporation exists in the home country. It can be said that the entire view of the world for the company is restricted to the home country. In this stage of development the orientation of the corporation is ethnocentric.(Keegan, 2002)In the international stage, the orientation does not change as a company moves from domestic to international. The difference between the international and domestic corporation is that the international is doing business in various countries. Like the domestic corporation, it is ethnocentric and home-country oriented. However, the international corporation sees extension market opportunities outside the home country and extends marketing programs to exploit those opportunities.(Keegan 2002)In the multinational stage of development of a corporation, a change in the orientation of the corporation occurs. At this point, the orientation shifts from ethnocentric to polycentric. The international ethnocentric corporation seeks to extend its products and practices to foreign countries. It sees similarities outside the home country, but is ignorant of differences outside the home country. On the other hand, the multinational corporation sees the differences outside the home country, but is ignorant of similarities outside the home country. A multinational corporation focuses on adapting to what is different in a country.(Keegan 2002)The next stage of development is the global corporation. In this stage the management's orientation is either on global markets or global resources but not on both. For example, Harley Davidson is focused on global markets but not on global resources. The company has no interest in conducting R & D, design, engineering or manufacturing outside of the United States.(Keegan 2002)The final stage of development of a corporation is the transnational stage. In this stage, the orientation of the corporation encompasses both global markets and global resources. For example, Toyota, a transnational corporation, makes engines and transmissions in various countries and...

Find Another Essay On Global marketing.

Global Marketing Essay

1819 words - 7 pages skills onto the next generation, the creation of status through symbols and the ability to clearly differentiate elegance from commodity. While many of the Italian luxury products appear to be fashionable and modern, they have traditional values, high quality and simple lines that transcend time and place. In a recent study on the global luxury goods market in 2010, Bain estimated that the projected full-year revenue increase of 4% will result

Global Marketing Research Essay

557 words - 2 pages foreign market. By having an available local researcher in every country as one of ideal methods supported intensive communication between the MNC in the home country and in the host country. The local researcher regularly reports the research result to the head company. This thing involves coordination system whether is used decentralized or centralized. But the main point is international marketing research becomes the important thing for the international companies in doing global marketing activity.Source:Cateora, P. R., Gilly. M. C. & Graham, J. L. 2011. International Marketing. 15th Edition. New York: McGraw-Hill

Global Marketing Research

1190 words - 5 pages Global Marketing Research Case Study Analysis When deciding if a company should expand business into a global market, it is important to conduct market research. Global market research gathers and collects data and information and identifies possible issues that an organization may face. Conducting market research is a positive step to begin a globalized marketing strategy. Sperry/MacLennan Architects and Planners David Aaker, V Kumar, and

Global Marketing Strategies

1905 words - 8 pages Two opposite viewpoints for developing global marketing strategy are commonly expounded. According to one school of thought, marketing is an inherently local problem. Due to cultural and other differences among countries, marketing programs should be tailor-made for each country. The opposing view treats marketing as know-how that can be transferred from country to country. It has been argued that the worldwide marketplace has become so

Implications for Global Marketing Managers

864 words - 4 pages Zhang, Song and Qu investigate the assertive measures of multinational corporations (MNCs) as well as local retailers of internet technology products in their collaborative article “Competitive Action in the Diffusion of Internet Technology Products in Emerging Markets: Implications for Global Marketing Managers. Journal Of International Marketing”. The authors create a hypothesis of “could specific market-oriented actions of local retailers

Global and Domestic Marketing Decisions

879 words - 4 pages country may not be acceptable in the importing country.External Environment.Companies are operating within a larger framework of the external environment that shapes the opportunities and threat to an organization. The external environment for global and domestic marketing decisions is comprised of forces that are apart of a company's marketing process but is external to the organization. Revolutionary products create new product-markets

Walmart’s Domestic and Global Marketing

1261 words - 5 pages This paper will be about Walmart’s domestic and global marketing. The paper will be identifying the environmental factors that affect Walmart’s domestic and global marketing decisions and many other marketing decisions. Walmart itself has about 11,000 retail units in 27 countries. They employ 2.2 million associates around the world with 1.3 million associates being in the United States (Walmart, 2014). Walmart’s environmental factors When

Global Marketing Strategy - Standardization vs. Adaptation

2170 words - 9 pages . This model understands the differences and similarities between global markets and thus a takes a balanced decision to form appropriate strategies. Approaches of the geocentric model are biased towards marketing, human resources, production policies and finance that try to fuse global and local practices. When a geocentric attitude is adopted the company leads to become a geocentric company. [e.g.: In India, Dominos Pizza has introduced


9472 words - 38 pages DHLWW, had started a global account programme. DHLWW had a number of major global accounts, and 18 of them (including Nike, Gold Star and Siemens) were being developed as global accounts by DHLI. These firms were selected in view of their presence in India and their likely potential. These customers had generated $ 80 million of revenues in 1997 and it was the objective of DHLI that they would contribute $ 200 million by the year 2000 A.D. This

Marketing Strategy. New dimensions in the global marketplace

2640 words - 11 pages strategic intentions. International marketing is the process of focusing the resources and objectives of a company on global marketing opportunities.The marketing concept requires more than being able to meet customer needs - it requires meeting them better than competitors. The basic goal of marketing is therefore to develop a competitive advantage and to create customer value by maintaining focus on its key customer group. Due to the changing

Environmental Factors in Global and Domestic Marketing Decisions

737 words - 3 pages market potential.PepsiCo is a large company which conducts both domestic and global marketing and is very well known. One of the main products and one that I use everyday is Pepsi. PepsiCo also produces Quaker Oats, Lays chips, Gatorade, and Tropicana orange juice.With the world so focused on ecological factors in today's environment it is only wise for PepsiCo to align itself with the majority. 2005 has seen PepsiCo immersed in ecological

Similar Essays

Global Marketing Essay

599 words - 3 pages With nearly half of the world’s largest corporations, an export rate only second behind China, and the perceived value of American goods by foreign consumers, the need for global marketing by companies in the United States is a necessity. Global marketing expands a company’s market, allowing them to grow, and not only rely on their own country resources and revenues for their success. Companies that expand operations abroad gain benefits to

Global Marketing Essay

5004 words - 20 pages EXECUTIVE SUMMARYIn the world that is more global than ever was, any multinational companies (MNC) who wishes to survive and thrive in the increasing level of competition, needs to well understand the concepts of global marketing.International marketing opens new opportunities for companies who determined to get more market share, profits, and international recognition. Domestic markets are just already too crowded with competitors that

Global Marketing Essay

2381 words - 10 pages case study, they show about the evolution of cooperative global trade agreement in Turkey which is we have learned it in the subject Global Marketing (chapter 2). They started in 1980 Economic Reform Program which is parallel to the global trend, Turkish economy witnessed a significant transformation, and experienced important steps on the way of liberalizing it economic and trade policies in 1980s, by replacing import-substitution development

Global Marketing Essay 1988 Words

1988 words - 8 pages Global Marketing PAGE \* MERGEFORMAT 1 Global MarketingCad Mex Pharma is a United States corporation wanting to do business within a different country. Multiple issues will arise according to the simulation concerning business ethics and legal issues. During this simulation it was determined that the "Candorean Regulations for Technology Import Contracts," was best suited to cover the issue of intellectual property. This was due to this court