International Marketing Essay Example | Topics and Well Written Essays - 2500 words - 3

Inter farmingal Marketing - Essay typesetters caseInternationalization Process A) Stages in Entry Process Internationalization process allows new ventures to gain addition and positive returns through capitalizing on their unique resources as well as capabilities. Learning also becomes realizable and internationalization facilitates the new ventures to create and exploit its knowledge. While entering into any markets of any country, it becomes intrinsic to project for opportunities for the product in that particular country so that triumph washstand be achieved. There ar five basic step that can be taken into account while expanding operation in other countries. They are country identification, preliminary screening, in-depth screening, final selection and direct experience. Country naming It becomes too essential to carry out a common overview of prospective new markets. It may retrieve at times that two countries share a similar culture, political ideology or worship su ch(prenominal) as China and Cuba, similar language like the United States and Australia, similar heritage such as the United Kingdom and Australia. In this stage, the selection becomes straight forward. Preliminary Screening This is the stage where it becomes essential to have a serious look at those countries remaining after undergoing preliminary screening. Here oneness begins to score weight or rank the nations according to macro-economic factors such as level of domestic consumption, replace rate, currency stability and others. This is the stage where companies begin to start calculating the nature of the market entry cost. It is to be decided what portion of the company entering into the market is possessed domestically. A proper PESTEL analysis indispensableness to be done before entering the market of other countries. In-depth Screening This is the stage where it would be considered viable for market entry. Therefore, it becomes important to gain detailed information on the target market so that the strategies can be formulated accordingly. Final Selection At this stage it becomes essential to prepare the final short list of the potential nations. It would be viable to look at the close competitors or the domestic companies which have already entered into the market in order to get firm costs concerning market entry. In this stage, the managers often looks for nations that it has already entered in order to check the similarities or learning which can be used for decision making. shoot Experience This is the stage where the marketing managers may travel to those particular nations in order to experience the nations culture as well as business practices. However, based upon the case study, the following steps of conflicting market entry have been identified. 1. Identification of companys objective in the foreign market entry 2. Preliminary country screening 3. Opportunities and threats in the target country 4. Capabilities, resources and skills n eeded to pull ahead in foreign markets 5. Identification of companys strength and weakness on key success factors 6. Decisions regarding entering the target market 7. Comparison and ranking of the target market B) Decision to Be do In Each Stages In case of identifying the objective of the company in the foreign market entry, companies need to identify why it wants to enter into the foreign market. The motives may be to exploit large and