Globalization and International Market Strategies
Added on 2020-05-11
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RUNNING HEAD: Globalization and international market share1Name of the student- Topic-Globalization and international marketsUniversity name-
Globalization and international market share2With the increasing ramified economic changes and complex business structure, each and everyorganization is inclined towards running their business on international level. This level ofbusiness functioning makes business effective and increase the overall turnover of the company.However, in order to win the international market there is possible two strategies are followed bycompanies name as cost leadership and product differentiation. It is evaluated that globisation isthe required intents which each and every organization needs to consider before implementingstrategies on domestic and international level 1 It is considered that if an organization wants toexpand its business then globalization and its impact on the business is the major factors beforecreating any strategies for business. However, with the increasing opportunity of global business,there are several threats which must be considered by organization before taking their businessonline. Market expansion and diversification is possible for organizations when they take theirbusiness on international level. It increases the market share and increase in turnover of thebusiness. Company could follow two main strategies to implement the successful business oninternational level namely as product differentiation and cost leadership strategies. Internationalmarketing is another aspect which means that promoting goods and services of organization oninternational level in international markets. There are several organizations which haveundertaken their business on international level such as Woolworths, Wesfarmers and Tesco andGE capital. Impact of culture on international marketingIt is evaluated that in 21st century the century of globalization where there isadvancement of technologies, flow of information is as fast as it can be ever, and companieswho wants to cater the clients needs and demand on international level could do it by1
Globalization and international market share3implementing proper level of strategic alliance and international marketing strategies.Customization or standardized products are the key strategic functions which are ideally used bycompanies while selling their products on international level with a view to satisfy internationalclient’s needs and demand. There are several factors such as language, belief, norms, social consideration andprefrences of clietns which could be considered by companies while taking their business oninternational level. In addition to this, if company takes its business on international level thenestablishment of proper level of communication is required intents for the success oforganization. Cyber computing enterprises resources planning is the major terms which shouldbe undertaken by organization before implementing business on international level 2The setting up of new ventures or entering into strategic alliance with other orgnizationsis the key major factors for the success of business on internatianol level. If company couldmitigate the cultural issues on international level while implementing its international marketingstrategies then it could easily provide satisfaction to its clients. Cultural issues could be mitigatedby following proper level of social value, perception and needs of the clients in the market. Itconsists of the values, chocies, prefrences, needs and demand of the clients in market. Ifcompany could offer clients expected products and services in market then it will not onlyincrease the overall efficieny of the product but also result to increased compliance oninternational level.2Forsgren, Mats, and Jan Johanson.Managing networks in international business. Routledge,2014.
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