International Marketing Management- Prada
Added on 2020-01-28
12 Pages4627 Words148 Views
Leadership ManagementProfessional DevelopmentMarketingDesign and CreativityHealthcare and ResearchEconomics
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International MarketingManagement1
TABLE OF CONTENTSINTRODUCTION ...............................................................................................................................3GLOBALIZATION..............................................................................................................................3ENVIRONMENTAL ANALYSIS........................................................................................................4COMPETITIVE ANALYSIS...............................................................................................................6CONCLUSION....................................................................................................................................7REFERENCES.....................................................................................................................................82
INTRODUCTIONIn the modern era, marketing plays a very important role in growth and development oforganization. It can be defined as a process through which businesses increase their sales andprofitability by creating brand awareness in the market. Number of business organisations is focusingon marketing strategies in order to expand business in international market (Markides, 2012). Currentstudy will focus on work culture of Prada to understand key aspects of cross border marketing. In orderto increase market share and profit margin ratio, the organisation can focus on international marketingmanagement. GLOBALIZATIONGlobalization is considered as an effective process of integration along with the interaction amongfirms, people and government of different nations. This process directly influences the environmentand political system which is linked with the economic development of nation. Main trends inglobalization involve the range of opportunities that it provides to business. Further, it has becomepossible for any organization to operate efficiently at the global level and expansion at internationallevel has become easy (Uncles, 2015). Moreover, it has enhanced export along with the import practiceof every nation. In short, globalization has played a significant role in the economic development ofevery nation. Trends of globalization have positively affected Prada where it has become possible forbusiness to operate efficiently in the market. Apart from this, business is able to operate efficiently inother markets for enhancing the performance at international level. Trends associated withglobalization have enhanced profitability along with the market share of business. Through expansionat global level, Prada has gained large number of benefits which means resources of different countriescan be used in the production process to have access to wider market and for the procurement of inputgoods and services. But on the other hand, some disadvantages of globalization are present which areadversely affecting the business performance and they are like economic condition of country mayaffect the business condition, rise in level of competition, etc. Globalization is procedure that provides effective interaction and integration withinenvironmental aspects. It allows number of elements to work in collective manner such as people,organisations and governments. In other words, it can be said that it allows Prada to trade ethically ininternational market with optimistic use of information technology. Globalization is considered as aworldwide business activity that considers various aspects in integrated manner (Dibb, 2010). Foreffective business expansion, it is essential for management of Prada to consider economic, financial,trade and communication aspects of different nations in appropriate manner. With an assistance of globalization, the management of Prada enhances the local and3
nationalistic perspectives in appropriate manner. It allows business to provide its products ininternational market by considering global factors. It includes free transfer of goods, capital andservices within nations. In this support, it can be said that there are number of benefits anddisadvantages of globalization that need to be considered by management of Prada (David, 2011). Oneof the key benefits of globalization is that company can easily have effective contribution oftechnology for proper development. With an easy accessibility to technology, the business can reducethe cost of operational activities. It also allows business to build strong trade relations with globalcompetitors. It also motivates employees to learn more about overseas market which is beneficial forskills improvement (Cravens, 2010). On the other side, it can also influence business in negative manner. For example, to expandbusiness in international market, number of legal consideration are needed which may increase the costof operational activities. Various modifications are also required in products and services as perstandards of trade unions which may also increase expenditure of firm. Moreover, the economicconditions of any nation can also influence the business of Prada in negative manner. Company willalso face high ratio of competition in the global market (Markides, 2012). Availability of resources canalso be one critical issue for business that affect operational activities in diverse manner. For effectiveexpansion of business in international market, the management need skilled workers. But in globalmarket, the demand of skilled employees is low which may impact the business of Prada in negativeway. Global companies with hi-fi infrastructure almost ruin the local traditional small and mediumindustries (Bose, 2008). It means Prada needs to ensure about these aspects in appropriate manner foreffective development of market share in global market. ENVIRONMENTAL ANALYSISIn order to have effective business expansion, the organisation needs to understandenvironmental aspects in appropriate manner. There are number of tools that can be used to analysethese aspects of Prada. Classification of tools can be as Pestle, Swot, etc. Pestle analysis is techniquethat facilitates in effective determination of various external factors which may influence operationalactivities of business. Prada is required to analyse external factors while developing its distributionstrategy. Political: It is an element that helps in determination of degree to which governing authoritiesaffects the operational activities of the business. It is essential for management of Prada to understandpolitical aspects in appropriate manner. In this respect, organisation needs to consider tax and dutieswhich are obligatory by government. Company needs to consider different nation’s political aspectswhile expanding business in global way (Nikolopoulos, 2015). Therefore, while developing4
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