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.(http://www.cheathouse.com/essay/essay_view.php?p_essay_id=56321)All 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...

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