The Importance Of Business And Marketing Strategy

When any business is planning on expanding its operations to the outside world, it should start by formulating a good business and marketing strategy. This is usually the main factor that determines the success of the business in the outside world. A good strategy, for example, should be based upon realistic goals that the business can achieve within the time frame stipulated. It also needs to identify its potential customers in the new environment and work to address their needs more thoroughly and successfully than their competition. Any business should also remember its core business and the message they’ve been communicating with their current customers. This should be the same message they communicate with their potential customers,

This is because it is very hard for one person to sell his ideas across different cultures and languages using the social media and TV channels Roy uses. “The management of activities internationally is particularly complex. It is an overwhelming task and expanding marketing and other business operations internationally infers encountering challenges and problems never before met in the local domestic market” (Trim & Lee, 2006). Due to these challenges, I would suggest that Roy should discard the marketing strategy he is using now and employ a multi- domestic strategy. This is because this business strategy maximizes on the product offering and the marketing strategy to match different national conditions. The production and marketing activities are usually established in each and every national market where the business is done. This strategy also helps companies gain economies of scale through shared overhead as it markets similar products in multiple countries. He would standardize his products and sell them across countries, which is what Herbig emphasized on in his book, “All global cultures usually converge towards one common global culture, and all marketers should endeavor to address global (international) needs, finding areas of commonality and agreement rather than focusing on trivial differences between cultures.” (Walls, Hendon, Hendon, & Herbig,

Each country should, therefore, be approached separately as a different market and the marketing strategy customized for that particular market” (Walls, Hendon, Hendon, & Herbig, 1998). So, by adopting the strategy Xiaomi will also gain a competitive advantage in that it will be able to focus on the different markets and their needs and make products as per those markets and not focus on a single product as other companies in the electronic industry have been