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Report On Effects Of Globalization On International Business Of PRADA

   

Added on  2020-02-05

10 Pages2767 Words234 Views
Professional DevelopmentLanguages and Culture
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INTERNATIONALMARKETING MANAGEMENT
Report On Effects Of Globalization On International Business Of PRADA_1

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INTRODUCTIONIn today's business environment, it is hard to remain competitive by just relying upon thedomestic market. Thus, in order to beat such arising conflicts, international marketing plays adominant role. International marketing is proven to be a bit complex as compared to theprocedures of domestic marketing. It consists of both private and governmental tradingnegotiations among the parties of two or more countries and therefore has a major role ofglobalization. This global competition equally affects both large and small firms (Joshi, 2009).The present report depicts the effect of globalization on the international business of PRADA,by effectively analyzing its major environmental factors. PRADA is a renowned fashionindustry of Italy, started by two Prada brothers in 1913. Since then, it is carrying a clearobservation of the world and it's changing trend. Such curiosity towards the society and it'sreforming culture, PRADA is now successfully leading in the markets of apparel andaccessories.1. Affect of Globalization on the international expansion of PRADAInternational expansion is referred to as a broad range of business activities taking placeacross the national borders of a company. It is a composite and challenging process whichrequires handling all economical, political and social or cultural activities outside one's ownnation. Hence, globalization plays a crucial role in internationally evolving the business. It is arecent term that has four main aspects of concern, which concludes- trade transactions,movements of capital investment, migrating people and transmitting knowledge. Globalizationhas a rising effect since 1970's, but in the last 20 years, this term is attracting most of thebusinesses to approach the international market. Before forming the decisions of internationalmarketing strategy, business managers are liable to consider the globalized businessenvironment in managing the required operations (Andriopoulos and Slater, 2013). Therefore,globalization is a leading concept for positioning the business in international market. PRADAis currently running over 250 boutiques worldwide. Over the time and in these 103 years, it hasmade a huge expansion of its business. This expansion has a great occurrence of globalizationwhich consists of a dual effect, in the following ways-Quality product in cheap price- It is among-st the advantages of globalization in which,after considering the increasing competition, the market provides a wide range of1
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