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International Marketing Management - Prada

   

Added on  2020-02-05

10 Pages2961 Words45 Views
Visual ArtsEconomics
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INTERNATIONAL MARKETING MANAGEMENT
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Table of ContentsINTRODUCTION......................................................................................................................1GLOBALIZATION...................................................................................................................1ENVIRONMENTAL ANALYSIS............................................................................................2COMPETITIVE ADVANTAGE...............................................................................................4CONCLUSION/INSIGHTS.......................................................................................................5REFERENCES...........................................................................................................................7
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INTRODUCTIONToday, undertaking business is increasingly global due to technological advancements.Increasingly fast technological lifecycles also enhances the competition among nations. Tradewithin nations is beneficial, as they all differ in their relative strengths of economy, i.e. somehave lower costs and some have more advanced technology. Globalization, in last ten yearshas become an important part of fashion sector. Global retailers have taken note ofconsumption patterns and culture of worldwide buyers. PRADA is the most famous fashionbrand throughout the globe. The organization began in 1913 and continues to stay strong aswell as has potential to steadily grow into 21st century under its innovative and creative leaderMiuccia PRADA. As the apparel industry is globalizing same like world. People throughoutthe globe following same fashions. There are some differences on the basis of personalchoices but in general the trend around the globe runs in a swift motion. However, thecompany should acknowledge and appreciate local norms and religious trends of differentcountries while expanding their business operations on international level. In this regards, theorganization need to have adequate international marketing management to consider differentrequirements of global market and design its offerings accordingly. Here, the paper isbriefing about impacts of globalization and environmental factors on PRADA’s internationalexpansion and characteristics with which the company attains competitive advantage. GLOBALIZATION Globalization is a procedure that based on international tactics, goals to expandoperations of business on global level and was precipitated by global communicationsfacilitation due to political, socio economic, environmental developments and technologicaladvancements. The globalization goals is to offer companies an excellent competitiveposition along with less operating costs for gaining great numbers of customers, services plusproducts. At PRADA, global marketing has made known to potential clients the benefits andexistence of its offerings in the market by giving an identity to product. At the same point oftime, the organization sometimes fail to keep in mind every customer needs that are severaland unlimited (Bruce, Moore and Birtwistle, 2004). The following are some advantages anddisadvantages that PRADA faces while moving to international markets:AdvantagesLess marketing costs – Global marketing lowered the marketing cost for company becausethere presents a uniformity in products selling.1
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