Topic > Market Entry Strategies in International Marketing

1. IntroductionMarketers focus on the wants and desires of individuals, groups and societies. They focus on individual demand, market demand and company performance. In the marketing concept, the market is not only a physical place but also a non-physical place. Joshi et al. (2005) highlights that international marketing is a cross-border corporate-level marketing practice that involves market identification and targeting, entry mode strategies, marketing mix and making the right decisions to compete in international markets . Multinational marketing is a complex form of global marketing that involves a company in marketing operations in various countries. Globalization has made considerable progress over the past decade, thanks to modern communications, transportation and improved legal infrastructure, as well as the political choice to consciously open markets to international trade and finance. Various companies have been successful in global marketing such as Bosideng, which is a Chinese company that creates men's clothing and down jackets. Market Entry Strategies One of the market entry strategies employed by companies that want to engage in international marketing is exporting. Exporting to a foreign market is a strategy adopted by various organizations for some of their markets. Since many countries produce enough goods to satisfy the local population, exporting allows a company to manufacture its products for different markets in various countries and thus achieve economies of production scale. In addition to direct exporting, a company can contact foreign markets through an intermediary located domestically and this is called indirect exporting. Licensing is another market entry strategy. Licensing can give the foreign business access to the bran… the center of the paper… contributing a different element to the business. Alliances can take the form of technology-based alliances, production-based alliances, or distribution-based alliances. Finally, companies can enter foreign markets through mergers and acquisitions. Although international companies have always made acquisitions, the need to enter markets more quickly than by building a base from scratch or entering into some type of collaboration has made the acquisition path extremely attractive. This trend has likely been aided by the opening of many financial markets, making it much easier to acquire publicly traded companies. One of the main benefits of acquisitions is that they can quickly position a company into a new business. By purchasing an existing player, a company doesn't have to take the time to establish its presence or develop assets it doesn't already have.