The International Marketing Strategy of Prada

Added on - 21 Jan 2020

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INTERNATIONAL MARKETING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Globalisation: Advantages and Disadvantages............................................................................1Environmental Analysis of PRADA............................................................................................3Competitive advantage................................................................................................................5Conclusions/Insights....................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONMarketing is one of the most important processes which are highly related with theselling of consumer goods and services effectively. Majority of organizations these days areadopting several marketing strategies through which they can easily reach out to their intendedtarget audience. There are several factors which affect the whole marketing strategies ofcompany such as external as well as internal factors.In this context, international marketing is carried out by companies across their nationalboundaries. It helps in reaching to the various needs and demands of customers all around theworld(Sharma, 2005). Here, the present study is based on the key concepts of globalisation andinternational marketing management with including the critical evaluation and application of keytools. In this regard, PRADA Company is taken into consideration which is an Italian luxuryfashion house. They are having their speciality in ready to wear leather as well as fashionableaccessories. The brand has emerged as a pre-eminent strategic communication device. It alsohelps in the identification of retailer and its products (Moore and Doyle, 2010). Within thisrespect, this study gives brief description about globalisation as well as its advantages anddisadvantages for company moving from their home territoryGlobalisation: Advantages and DisadvantagesGlobalization is becoming a key concept these days which helps various organizations inexpanding their business operations worldwide. It provides them superior competitive positionwith lower operating costs (Ladăr and Prada, 2009). It is considered as the best approach whichcan be easily attained through diversification of resources as well as creation and development ofnew investment opportunities. Most of the economist believes that globalization may be theexplanation for key trends in the world economy such as low inflation and low interest ratedespite strong growth rate.Evans (2003) stated that globalization compels PRADA to adaptdifferent strategies based on the new ideological trends. It is the most effective way throughwhich they are able to balance rights and interest of both the individuals and community. Withthe help of effective change, company is able to compete worldwide and easily accept theparticipation of workers and government.There are several advantages as well as disadvantages for all those companies which aremoving from their home territory to international market. PRADA is one of them and they arethe luxury global fashion retailer and they have expanded their business operations in Asia ().1
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