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Week 4...Chapter summary 13,14,21 (pick one), article review, and weekly summary Essay Example

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Week 4...Chapter summary 13,14,21 (pick one), article review, and weekly summary

The business world has become more interconnected than ever due to faster communication, transportation, and financial flows. The story of Red Bull is a great example of a company that was able to succeed in the foreign markets. Today Red Bull has penetrated over 100 countries worldwide. Corporations hold most of the wealth of the world. There are 200 companies that have more money than a quarter of the world’s countries. In 2003 international trade accounted for one-quarter of the U. A global industry is an industry in which the strategic positions of competitors of major geographic or national markets are affected by the overall global position. An example of a global industry is petroleum due to the fact that the majority of the automobile worldwide are powered by gasoline.A global firm is a firm that operates in more than one country. Five major decisions in international marketing are: 1) deciding whether to go abroad; 2) deciding which markets to enter; 3) deciding how to enter the market; 4) deciding on the marketing program; 5) deciding on the marketing organization. Many international markets offer opportunities to achieve higher profitability than the domestic market in which the companies operate. Expanding into international market allow companies to achieve economies of scale. It also helps companies reduce their dependency on one market. When a company gets attack by international competition a good strategic option is to counterattack by penetrating the domestic market of the international competition. Prior to penetrating a foreign location companies must identify the risk involved with the decision. The company might not understand the foreign nation business culture. The regulation of the country must be understood prior to establishing a presence in a location. For example the environmental laws of the country might impose additional cost the company was not incurring in its domestic marketplace.The four stages of the international process are: no regular export activities, export via independent representatives, establishment of one or more sales subsidiaries, and establishment of production facilities abroad. Companies have to identify their marketing objectives and policies prior to establishing an international strategy. A direct selling company that had great success in the international market is Amway. The firm has a presence in 80 countries

References

Bradner, L. (2007). Building Lasting Customer Loyalty. Forrester Research.
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preview essay on Week 4...Chapter summary 13,14,21 (pick one), article review, and weekly summary
  • Pages: 5 (1250 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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