Analyzing and serving the consumer International marketing is an important factor in serving organizations to develop into becoming globally competitive. Companies who operate within domestic markets purely are having difficulties competing with a global organization. Therefore, what does it take to move an organization globally? According to Cateora, Gilly, and Graham (2013), “international marketing is the performance of business activities designed to plan, price, promote, and direct flow of the companies goods and services to consumers of users in more than one nation for profit” (p. 10). International marketing strategies and its effectiveness assists in the expansion of an organization.
At a number of leading firms, international sourcing is being replaced with a broader international approach called "global sourcing." Professor Monczka and Trent define global sourcing as "the integration and coordination of the requirements across worldwide business units, looking at common items, processes, technologies, and suppliers. "1 In order for the purchaser to buy internationally, a contract had got to be concluded first, so as to ensure the benefits of both parties. And international contract are more complex as compare to local contract. Therefore in this assignment, we shall discuss the importance of international contract and its own complexity.
Market entry of a product is an extremely important concept to consider. There are multiple forms of market entry and deciding which form would work best for the situation could either benefit or harm the company. Exporting and importing is one form of market entry. This can be done either directly or indirectly. The less directly the firm company deals with foreign companies, the less likely they will build their knowledge and experience of how to do foreign business.
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2. Findings 2.1. Market Entry Strategies One of the market entry strategies employed by companies which want to engage in international marketing is exporting. Exporting to a foreign market is a strategy various organizations employ for some of their markets (Agarwal and Ramaswami, 1992). Since many countries produce enough goods to satisfy their local population, exporting enables a company to manufacture its products for several markets in various countries and to obtain economies of large scale production.
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