International Business
Added on 2021-02-19
7 Pages1979 Words210 Views
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International Business
Table of ContentsINTRODUCTION................................................................................................................................3MAIN BODY.......................................................................................................................................3Analysing strategies with reasons adopted to operate internationally.............................................3Review of product portfolio along with explanation of re-engineering of its products and processes for international markets.................................................................................................4Influencing factors creating impact on business decisions related to the product portfolio...........4Evaluation of success of strategy.....................................................................................................5CONCLUSION ...................................................................................................................................6REFERENCES.....................................................................................................................................7
INTRODUCTIONThe term International business is defined as a process of conducting business andcommercial transaction at the global level. It includes cross border transaction related to good,services, technology, capital and know how between two or more countries. The present report isbased on Nike, which is an American multinational company providing services in field of Apparel,Accessories and sports equipment. The company is engaged in business of designing, developing,manufacturing, sales of footwear, apparels etc. worldwide. The report will discuss about productportfolio process of the company. Also, it will define strategies adopted by Nike for making a placein the International market.MAIN BODYAnalysing strategies with reasons adopted to operate internationally.For becoming market as well as global leader, Nike has always ensures in adopting soundand better effective marketing and business strategies. The most effective and important strategywas Innovation. The main focus of Nike is on continuous research and development process forassessing the current market trends and customer demand as well. From growth perspective ofNike, innovation has played a major role in achieving success at the international level. Byconducting research, survey, market observation Nike has been able to growth in sustainablemanner which in turn has able the company to seek competitive advantages. Another strategy followed by Nike is of premium pricing strategy. This strategy targetcustomers having feeling of intimacy with the company's products thereby creating customerloyalty. Nike by taking advantage of this loyalty starts charging premium prices for its products andservices (Tolonen and et.al., 2015). Emphasizes has been made by Nike on the strategy of marketsegmentation. Under this company starts producing its products for men, women and children aswell. With the help of this strategy, Nike is able to advertise its products in assistance with celebrityathletes so as to increase its market worth and sales.Closed Loop Business model is one of the worthy strategy for Nike which has help inbecoming international brand. This model emphasizes on zero waste. It has helped Nike inachieving zero or minimum waste by making proper and effective facility of reusing, recycling ofall its materials. With this model, company is able to reuse its waste material by using good recycleprocess and thereby turning such waste material into new product. Thus, this strategy has helpedNike in becoming an environment friendly business firm. Nike with making product differentiationas per its customer and market segmentation has been able to gain marketing advantages in short
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