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An Analysis of International Marketing Strategy for PRADA's Expansion

   

Added on  2019-12-03

10 Pages2962 Words207 ViewsType: 207
Business DevelopmentLeadership ManagementEconomics
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International Marketing Management
An Analysis of International Marketing Strategy for PRADA's Expansion_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11. Globalization: Advantage and Disadvantage.....................................................................12. Environmental Analysis.....................................................................................................33. Competitive advantage in fashion industry's international competition............................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................7
An Analysis of International Marketing Strategy for PRADA's Expansion_2

INTRODUCTION International marketing is the process of using marketing principles in more than onecountry or companies across the borders. International marketing is the multinational process ofplanning and executing the concept, pricing, promotion, and distribution of ideas, products andservices to make transaction that satisfy people and organizations need (Cateora, 2008).,PRADA has been chosen in this report which is an international luxury brand. This reportemphasizes on describing the concept of international marketing management and globalization.1. Globalization: Advantage and Disadvantage Globalization is defined as a worldwide movement towards economic, financial,commerce and communication integration. It is the process by which organizations and otherbusinesses develop international influences or start business operations at international level(Henseler, Ringle and Sinkovics, 2009). Industrial revolution at the end of 18th century was thebeginning of the globalization. Governments of many countries are in favor of globalizationbecause it can help in growing the economy of the country. However, there are so manyadvantages and disadvantages of globalization. Some of them are discussed below: Advantages of Globalization:Untapped market: PRADA's can expand its business in countries like India as it can bevery beneficial in increasing sales and profitability. PRADA can offer its products whichare unavailable in certain parts of the world but which are demanded by the customers(Katsikeas, Samiee and Theodosiou, 2006). By expanding the business in these markets,the firm can establish a new base of customers without any immediate threat ofcompetition.Favorable business climate: A new country can offer PRADA more favorable economicconditions. The country in which PRADA is planning to expand can provide them morebusiness friendly environment and also it can provide them the advantage of lower taxrates etc. (Craig and Douglas, 2005).Greater exposure: Moreover, Expansion increases the exposure of business. It helps tocreate good brand image between other countries people and the firm can gain goodbrand recognition throughout the world. This strategy can even facilitate expansion infuture (Johnson and Selnes, 2004).1
An Analysis of International Marketing Strategy for PRADA's Expansion_3

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