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the challenge of international marketing
international marketing chapter 7
the challenge of international marketing
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Country: Bahrain
Company name: Nass Corporation B.S.C.
Background:
Businessman Abdullah Ahmed Nass started his business in Bahrain year 1963; he got experience in contracting industry and local entrepreneur from Saudi Arabia and set up his own civil construction and general trading business soon in same year 1963. Because of his perfection in trading soon he become responsible for major construction projects and gain reputation of honest dealing, quantitative and qualitative services. He set up many companies in Kingdom of Bahrain, to provide quick services and materials. As time passes his business also gradually spread he formed concrete company and food wholesale and import services. Bahrain’s first sulphuric acid company is also established by Nass.
Introduction:
A public joint company which established on 17th September 2005 in Kingdom of Bahrain Named as Nass Corporation BSC, public joint company means this corporation lies between the definition of partnership and corporation. The corporation started business by merging its core construction businesses, division comprising and subsidiaries. Corporation main focus is to provide suitable/convenient single source to multi value added services quickly and easily, with the objective of customer satisfaction. Nass Company slowly and gradually became a big corporation with multi divisions which are:
Nass International Trading (NIT): this division serves “Mobility Solution” means buying and selling abroad.
Nass Scafform: it is a professional and competitively priced scaffolding service; provide value added scaffolding and qualitative services to gulf region.
Nass Sand Processing Plant (NSPP): this division builds sand especially for Bahraini constructing industr...
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... Physical distribution: Product distribution on suitable price in suitable place by physical ways.
Export documentation: full details of product export and marketing mix.
Pricing: high quality with low price makes the export profitable.
Conclusion:
Finally International Business is a route that focuses on organizations development opportunities towards global market, selecting assets or resources that are reliable with and loyal to its long and short term strategic objectives and goals. This assignment concluded that there are many entry methods of international marketing which are currently used in kingdom of Bahrain. Each method depend on company’s willingness and capabilities. Before globalizing, Companies need to be very careful in choosing methods because it may lead to failure which may result in profit loss or probably lead to closure of company.
Briefly identify the level of international marketing involvement (see text) of each of these firms. Provide rationale to support your answer.
I got a wonderful opportunity to work for one of the best construction companies, which is Hathaway Dinwiddie. Hathaway Dinwiddie has been in construction industry for over 100 years. Back then they started as Dinwiddie construction and been a part of a lot of historic buildings in California. Hathaway Dinwiddie has an expertise in Building information modeling (BIM), Partnered delivery and lean construction, Design-Build, Quality Control, Best Value exploration, Sustainability and safety. Hathaway Dinwiddie has a history of using BIM back in 1998 and now they are using it at every stage of their projects. They use BIM to summarize quantity surveys, develop preliminary construction strategies and maintain coordination between their team and their partners. Hathaway Dinwiddie provides services like General Construction, Preconstruction, Design Build, Construction Management and Interior and special projects. Hathaway also believes in being one step ahead of its competitor and has been investing in the research and development field also.
An international business has many options for doing business, it includes: • Exporting goods and services. • Giving license to produce goods in the host country. • Starting a joint venture with a company. • Opening a branch for producing & distributing goods in the host
Design – Build – Maintain: Public sector operates and finances the project and the private partner’s roll is to design, construct and maintain the facility for a specified time
In a competitive environment where market is changing instantly, organizations are in a fix to design a strategy that could market their products enticing the consumers to buy their products and services. Market is the arena for business gladiators who fight out for maximum share and profitability and this is possible only through effective marketing strategy. Competing in present economy means finding ways to break out of commodity status to meet customers’ needs better than competing firms (Ferrell and Hartline, 2010). The intensity of competition has increased after the introduction of media and internet where the companies present their product in the best way through advertisements, product reviews, blog entries, etc. With the advancement in technological innovations, companies have found various ways of providing services to the consumers in a cheaper and effective way and this has resulted in communication revolution in late 1990’s as the cellular technology was unfold in most of the regions. Singtel Optus Pty Limited (Optus) is one such company that has evolved during this period as a leader in integrated communications and this paper is assumed to make an analysis of the company’s marketing strategy and its financial position in the market industry.
Target is one of America’s leading retailers. Strong private brand strategy and recognition for strong ethics have held target upon a pedestal within the retail sphere. Although, no matter how large a company is, none are perfect. Target while having great success also has some shortcoming and open opportunities still be to taken advantage of such as the global market.
When it comes to doing business internationally the decision making is more complex. There are many interactions between each country that need to be addressed. In order for a business to be successful in the international market they need to examine and analyze all the facets of their company. They need
Investing or venturing into the international market involves critical analysis of the internal and external environment in which the company operates. Usually, a company will decide to venture internationally due to a saturated market or fierce competition in the current country of operation. The demand for a company’s products may have diminished as a result of an economic crisis thus the company will target a foreign market to sustain its sales. In other words, the firms expand internationally to seek new customers for its products. For example, the current Euro zone crisis led to low demand in Europe and many companies extended their businesses to emerging markets where demand was high. A company may also venture in the international market to enhance the cost-effectiveness of its operations especially for manufacturing companies that will benefit from low costs of production in developing world. Global expansion is a long term project as it involves demanding logistics to be successful. Thorough research must be undertaken to ensure that the expansion will create value for share...
In internationalization, the most challenging decision faced by the company to choose between standardization and adaptation in its operations, products or services. It has been one of the important and most popular research topics since 1960s to understand whether standardization is better or adaptation for marketing mix in international marketing. The increasing role of international expansion of business across the borders has also increased the focus of companies towards the international marketing strategies. It is also a biggest challenge for companies to better understand the different needs and choice of customers due to the huge differences among the cultures from various nationalities. This leads to the dilemma in the mind of marketers to understand which strategy is effective and good - standardization or adaptation. There is a significant impact of standardization or adaptation on all avenues of business such as research & development, structure, marketing mix, production, finance and marketing mix. The attitude of a company towards the culture of a particular country in which it is going to enter or start its operations decides to choose between standardization and adaptation. Consider the different views and arguments for each standardization and adaptation, this essay critically analyze which strategy is better to choose for international marketing.
The international business development has heightened the importance of international market selection (IMS) of companies, especially for their exporting strategy. However, not many companies really comprehend the geographical, social, economic characteristics of foreign countries in comparison with their home countries (Cavusgil, 1985). This fact has challenged many studies to create the optimal approach for IMS. The major question is: Which foreign market should a company enter? Thus, this report focuses on providing a practical consultancy to evaluate and determine its most appropriate foreign markets.
In conclusion, it can be said that global marketing has been emerged very rapidly in recent years. It has provided various opportunities for the companies to expand their business to the other regions of the word. However, there remain certain environmental issues that need to be considered before entering in to the desired region. These issues can be resolved with designing the strong global marketing plans and strategies, the data for which can be gathered through conducting global market research. Despite numerous issues, one can easily say that globalisation has reduced the global reach of the organizations as well as customers. It would not be wrong to conclude that
Political Environment in International Marketing THE POLITICAL ENVIRONMENT: The critical concern Political environment has a very important impact on every business operation no matter what its size, its area of operation. Whether the company is domestic, national, international, large or small, political factors of the country it is located in will have an impact on it. And the most crucial & unavoidable realities of international business are that both host and home governments are integral partners.
Nations, like the people who inhabit them, are all different. Some, like the United States, are at the forefront of technology and development. Others exist as third world nations, where even the most basic necessities are hard to come by. And then there are those which are in the middle, such as India. In the past 20 years, India has grown in the eyes of the global community from a rural, developing nation to a burgeoning global marketing hub. While India had much guidance from the United States and other global powers, the country has still chosen to follow its own path of business and marketing development. This paper is designed to evaluate India's current marketing environment in comparison with the marketing environment here in the US, citing both nation's similarities and differences.
Regardless of the success of your company on a national scale, to engage yourself in a successful venture outside of your borders requires several critical elements that one must acknowledge and apply with great care. One of those requirements would be to thoroughly research the cultural environment in which you wish to launch your product no matter how popular and indispensable you believe it might be. In the past, many national giants have hit the wall when introducing a foreign market or launching a new marketing campaign because of the cultural gap they encountered on the other side of their borders. Another way of preventing a flop on an international market is to carefully study the economical past of this country, which might differ quite a bit from the one the company flourished in. In addition to the previous precautions, it Would be advise to make sure that your product will blend seamlessly within the spending habits of the consumers. Overall, meticulous market studies and patience often constitute the way to success on a foreign soil.
Levi's has always tried to minimize the impact culture has on its ability to produce standardized products and campaigns. This is done to achieve economies of scale and a higher quality but cultural differences can be very important in the global and domestic markets. The characteristics of a particular cultural group will affect the type of products it desires and how they purchase it and use it. From the 1950s to the 1980s Levis was the image of rebellion and counter culture with public icons such as Elvis and Marlon Brando publically seen wearing the brand. This helped in giving the brand an image of originality and authenticity. But what Levis failed to grasp was that culture changes through time and consumer behaviour and choices change along with it. The rap culture which began in 1992 brought about new trends of loose baggy clothes. Levi's which sold straight tapered jeans failed to meet the needs of its consumer market who demanded loose baggy jeans which were considered as "cool" at the time. This demand was fulfilled by competitor brands such as JNCO, Kickwear and Boss etc who were quick to grab on to Levi's market share with products which were more suited to the younger generation. Even the rebellious image of Levis was taken by other brands like Diesel and Pepe.