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Global Market Selection in Mexico

   

Added on  2019-11-12

13 Pages3511 Words129 Views
Running head: GLOBAL MARKETINGGlobal MarketingName of the Student:Name of the University:Author note:

1GLOBAL MARKETINGTable of Contents1.Introduction........................................................................................................................22.Summary from the previous assignment............................................................................23.Screening of Market Selection...........................................................................................33.1.Overseas market selection process..............................................................................33.1.1.Reason to choose Mexico.....................................................................................43.2.Objectives....................................................................................................................54.Alternative market entry strategies as a new company......................................................54.1.Alternative target market selection..............................................................................64.2.Market selection process.............................................................................................74.2.1.Target market selection process through alternative entry modes to Mexico......74.3.Possible positioning for each target markets...............................................................84.4.Alternative generic strategies......................................................................................85.Recommendations..............................................................................................................86.References........................................................................................................................10

2GLOBAL MARKETING1.IntroductionGlobal marketing, often referred as, International marketing, is the form of marketingwhich is carried out by various overseas companies or across national borderlines, whichincludes identification of market, marketing, targeting the markets, mode selection and alsoimplementing some strategic decisions for competing in the international markets. The worldis becoming increasingly global in the terms of production, capital, technology, people,business and information (Mobley, Wang & Li, 2012).The report mainly discusses about a well known Australian based organization,Technology One which is one of the most important and leading organizations operating inthe information technology field. Founded in the year 1987, it is currently in the leadingposition in the market of Australia (TechnologyOne. 2017). The report highlights the realistic market entry options for the organization in thetarget market, including the advantages and disadvantages along with the reasons.Furthermore, it identifies the potential market segments, that is, the target markets and theirway of servicing. It discusses about the marketing strategies, the positioning strategies andthe future prospective of the company and recommendations, with a brief explanation of whatGlobal marketing really is.2.Summary from the previous assignmentThe Global marketing can be defined as the art of conveying and conceptualizing afinal service and product across the world, in the hope of achieving the internationalmarketing community. If Global marketing is done correctly and properly, then it has thepower to take any company to its next level. Various strategies should be implemented,keeping in mind the region or the place the company is marketing its products. For example,

3GLOBAL MARKETINGthe menu of any restaurant say, KFC varies from place to place, based on the region orlocation the restaurant is serving. Any company focuses its marketing on its items which arepopular within the country. Global marketing is very important for the companies whichprovide services and products that are having a universal demand, such as food, automobiles,household items and others (Kraidy, 2017).From the previous assignment, it is evident, that the organization has hugeopportunities in the market of China. However, there are many issues which they may face. Itis highly important for them to overcome the challenges effectively and efficiently, in orderto grab the global opportunities. The competitive nature of the organization has also beenanalyzed in the previous assignment. There are certain threats and weaknesses of theorganization which can however be overcome. Effective implementation of the businessstrategies can help them gain more market share in the international platform (Chow, 2015).3.Screening of Market SelectionPresently, China leads the world in the information technology field. It is regarded asthe world’s innovation hub. Therefore, in the previous assignment it was concluded that theorganization’s opportunities in the Chinese Market are huge. The selection of the market isdone, keeping in mind, the political environment, growth, economic status, socialenvironment and others. Among all those, China’s business friendly initiatives and politicalstructure, helps in attracting foreign investors. The socialist state is under the dictatorship ofpeople’s democracy which is led by working class. It is based on peasants’ and workers’alliance. Thus, the country is in its developing stage, generating innovations due to itspolitical structure, which has helped them, become the innovation hub of the world.Moreover, the availability of skilled and cheap employees is also beneficial in this businessscenario (Bradley et al., 2012).

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