Free Sample: Global Marketing paper example for writing essay

Global Marketing - Essay Example

My purpose for selecting Brazil is because of its large ethnicity mix which will be a perfect fit for our product to develop business growth, an international reputation, a competitive advantage and profit. Introduction of Chosen Product and target Market Each Cosmetics Ltd. Have been in existence for 35 years. Our main business areas are developing, manufacturing and marketing makeup for all African, Indian, Latin, Asian, Arabic and multi-racial women. We are a large scale operation that are represented in 27 countries and employ over 100 employees.

We are the official cosmetic for Miss Universe, Miss USA, Miss Jamaica and other pageantry events worldwide as stated in Each Cosmetics Limited, (2014). We first built our website in 1998 according to Maharaja (2004). This was our first direct export mode using the Internet and it helped us gain 16 years of international experience, understand the global market and our target audience to improve our product. We are constantly seeking opportunities to branch out and create new avenues to take our product global with calculated and well managed risks and as much involvement as possible.

Product Description The core benefits of our product are that our foundation is light weight, hypoallergenic and offers full coverage that holds up to the harshest weather and ivies the illusion of naturally flawless skin. The choice to standardize the physical features with the modern black and silver packaging when entering Brazil would communicate an integrated and cohesive message to our target audience of modern and sophistication and our plastic tubing are recyclable.

Our cosmetics are conveniently small, lightweight and easy to package which substantially decreases the cost of shipping overseas through Direct Exporting. Our product has a long shelf life which means it can be manufactured at home and then shipped overseas using Direct Exporting or to our Partners. The primary ingredient talc which can be found anywhere so overseas manufacturing modes may be suitable once there are raw material suppliers available in the China. Based on our product features as suited Joint venture or partnership to gain access to the best and cheapest distribution channels.

The pricing strategy used in the domestic market is Market Pricing which is charging a price based on our main competition and external factors such as tariffs, shipping cost, seasons etc. We would offer wholesale, retail and discounted pricing to match our direct competition. Our slogan at Each Cosmetics is Makeup for Exotic Skin. Our promotional mix are Advertising, Sales Promotion, Personal Selling, Public Relations, Direct Marketing and Social Networking. Each Cosmetics current method of distribution is direct export through distributors, agents, export departments, and mainly the internet.

Foreign Target Market Economic Analysis According to Remuneration (2014), the Latin American cosmetics market grew by 20% in 2010 to reach IIS$64 billion, it’s the fourth-largest cosmetics market in the world. This regional growth is fueled by key individual markets, starting with Brazil. In 2011, Brazier’s cosmetics market posted IIS$43 billion in sales, an increase of 18. 9%. Brazil has the highest tax-to-GAP rate in the Western Hemisphere, 36% which adds to cost and by extension affects our choice of market entry mode.

The Gross Domestic Product (GAP) in Brazil contracted 0. 90 percent in the second quarter of 2014 which reflects the recession the country has fallen into according to Economic Growth Rates (2014). This recession however can benefit us because in bad times by nature women look for ways of comfort or to “treat themselves”. This can work in our favor as our reduce gives that “feel good moment” by enhancing one’s physical appearance which is very important to Brazilian. Brazil is home to all the major brands from Milan, Reveal, MAC Cosmetics, and LA Colors to Avon.

These brands although recognized worldwide doesn’t cater to the exotic diversity needs of Brazilian for light weight, flawless and natural cosmetics which will stand up against their harsh weathers. With 70,232,491 women of mixed ethnicity, between the ages of 16 to 65 as stated in the Brazil Demographics Profile (2014) Brazil presents a wide market for Each Cosmetics to grow, benefit from economies of scale and expand in the years to come. From a recent recession. This can benefit our Intermediate market entry mode because key competitors who fall due to the economic downturn will enable us to expand and increase market share.

Factors of production such as premises and labor can be cheaper and higher quality, meaning that return on investment can be greater. Technology Analysis Brazil has a weak Technology infrastructure base as shown in the PEST Analysis (2013). This creates an Opportunity for us identify potential markets and build a nominative advantage because of the high demand of in technology infrastructure. This can positively affect our choice of market Entry Mode which is Direct Entry Mode Internet where it allows us opportunity to take a more Technological approach.

For example by creating APS to promote our product. Legal Factors and High Tariff Barriers Brazil has implemented the Brasilia Major (Greater Brazil) plan, in which there was a rise in trade protections such as tax breaks to benefit local manufacturers, increased tariffs, and local content requirements according to Trade Regulations, Customs and Standards (2014). Brazil operates a ‘Simplified Tax Regime’, where imports by post or courier valued between IIS$50 and IIS$3,OHO are subject to a flat 60% Import Tax on the CIFS value of the import according to Duty Calculator Country guides (2014).

This affect export modes undesirable for us and therefore Intermediate export modes such as Joint Ventures should be considered. Main Segment demographics and customers factors of target According to Purchasing Behavior in Brazil (2014) only 17% of the population state that they only shop directly at the store. Out of the remaining 83%, 53% shop from dialogs, 38% from the internet, 29% from telemarketing and 6% using a mobile phone. Brazilian are major impulse purchasers. Our target group are women between the ages of 16- 65.

According to Consumer Lifestyles in Brazil (2014) Teenagers and Young Adults Ages (15-24) – 16,521 ,057 who are Internet savvy, Spends more time in High School and College discussing fashion trends, relationships and experimenting with Makeup. Adults Ages (25-54) – 44,674,91 5 who are pursuing careers goals, heading back to school, getting married and or starting a family. Anti-aging remedies and beginning to explore the internet. This information helps us hose an export mode that appeals to this demographic such as Export mode by Internet and also Partnerships that offer lessons on makeup applications.

Culture Classification of Target The Hefted indexes gives an insight about how values in Brazil are influenced by culture and which consequences this fact has on our choice of market entry mode. Fig. 1. Shows the cultural distance of Brazil. Hefted classifies Brazil with a high score on the (PDP) Power Distance Index which reflects a society who believes in hierarchy and inequalities. Brazil demonstrates a low score on Individualism which means that in this country believe in strong, cohesive groups and long lasting relationships.

High Uncertainty Avoidance levels relates to Brazier’s strong need for rules and avoidance of risk taking, High degree of Indulgence exhibits a willingness to realism their impulses and desires with regard to enjoying life and having fun and Masculinity which indicates a society that is driven by competition, achievement and success. The cultural distance influences how we are going to sell and promote our product. The larger the cultural distance between the host and home country, the lower performance of the subsidiary will be (Hefted, 1980).

When entering culturally distant countries organizational conflicts arise, and differences in values and institutions negatively affect the successful implementation of organizational actions. Cooperation in advertising, distribution, joint production and technological development is more difficult in culturally distant countries and companies struggle in achieving economies of scale and scope in these areas. Furthermore a larger cultural distance will lead to higher costs in training, monitoring and control The distance between Brazil and Trinidad is great therefore encouraging Partnership or Joint Ventures.

Industry and Competitive forces of Target We will operating in the Beauty and Personal Care Industry. Cosmos©tacos Avon SAC’ led color cosmetics in Argentina with 23% value share while mega brands such as MAC Cosmetics, La Color, Milan’, Alma, Shied and Reveal are its main competition according to Remuneration International (2014). The color cosmetic industry is fierce in Latin America however Each Cosmetics holds a great advantage in that its holds a high product uniqueness above its competitors where we manufacture especially for exotic skin and was birthed in and for similar weather notations.

The larger the degree of competition is the more likely you are to lean towards Direct or Indirect Market Entry strategy however the absence of competition allows you to lean towards Wholly Owned subsidiaries or Intermediate market entry Market Entry Approach 1 Direct Exporting- Internet Direct Exporting via the Internet is the sale of products and services in foreign countries that are sourced from the home country through the internet for example the Each Cosmetics Website.

Some advantages of this market entry approach are that we can avoid the expense of establishing operations in Brazil, it cuts out the intermediaries therefore resulting in greater profits for our company, our patents and trademarks will be effectively protected, it allows us fast entry into our target market and we will have total control over negotiations and transactions. Among the disadvantages of exporting are the costs of transporting goods to the Brazil, and Imposed tariffs on incoming goods, which will impact the firm’s profits.

Once we ship our product we can lose total, or partial control because we the manufacturers are not personally involved in the distribution, marketing and sales of our product on foreign soil. Environment. The Product is suitable for this market because of its diverse ethnicity, economies of scale and according to Remuneration (2014) Brazil is the fourth largest cosmetic market in the world.

This approach may not be the best suited for this product because of the High Cost of Exporting which includes shipping, tariffs and ground transporting. And the risk of loss of control by Agents and or Distributors who may not be able to provide the required support represent our company in a suitable manner. This approach is suitable for Each Cosmetics a SEEM. This entry strategy requires medium financial resources for Brazil because of its high tariffs barriers however it gives Each Cosmetics a partial level of control they want.

Direct entry mode requires little to no international experience however our organization is currently in 27 international markets and therefore have over 10 years international experience according to Maharaja (2004) Each Cosmetics is creating a brand that is to be known as Trinidad Owned and Internationally Owned according to Maharaja (2014). This approach offers our organization low to medium control and high flexibility This approach is not suitable for being the main source of Cash’s brand representation because of our low direct involvement in the local area.

This is not suited for the Socio Cultural distance between the home and host market because Brazil reflects a high Power distance while Trinidad and Tobago seeks to maintain shared power in leadership. When the market overseas is culturally different from that at home (I. E. Cultural distance), then the organization needs to rely on intermediaries to advise and consult with Sash. Articulators Trinidad Ltd. Was founded in 1976. Originally the main focus was manufacturing water tanks. These tanks, branded ‘Tuff Tanks’ are internationally recognized for its durability and strength.

They successfully distribute to the Caribbean markets via the Internet and Distributors according to Island Planters (2014) On the other hand Mexico Ltd the producers of Bare Fruit, fruit Juices attempted this strategy and was unsuccessful due to the product life cycle I. E. Its high permissibility and the inconsistent availability of the fruits necessary for the product due to seasonal change as stated by Hassling (2013). This market entry approach is not recommended for our Organization based on Factors mentioned above.

Market Entry Approach-2 Export Management Company is a company which specialties in the export of goods manufactured by other companies. Some advantages of this market entry approach are the low cost, low risk, limited control and low international involvement. Among the disadvantages of indirect exporting are the exporter has no control over its products and how it is represented in the foreign market and the company lose substantial control over the marketing process. Factors affecting the suitability of this approach for this product are the low level of control we may have on how we want our product to be represented and sold.

Our product may get lost in the sea of products the EMCEE may be responsible for. This approach may not be an option suited for our company because of the loss of control of the export strategies and quality control of after-sales service, competition from the Emcees other products, the possibility of the EMCEE neglecting the client’s product in favor of other products that might be more profitable and easier to sell. This approach is suitable for SEEM It requires low level of financial resources in order to function effectively.

This entry mode requires high risk in relying on a foreign based Export Company to market and stricter their product in which Each is not willing to compromise their product integrity upon. This approach does not allow a high level of flexibility and control over marketing of our product. This is not suited for the Socio Cultural distance between the home and host market which is large. Large distances between countries encourage partnership and Joint ventures. According to Frederick Export (2014) Rotundas Manufacturing, London, England used an Export Management company based in the United States and was successful.

Electric guitar string sales have grown 15% each year. Overall export sales worldwide grew 15% in 2008 and 30% in 2009. And Rotundas has had to expand their guitar string production capacity twice since the new program started. This market entry worked well for this company because of the product life cycle of this product and the low permissibility and the small amount produced to be sold in this foreign country however this may cause the failure of another company’s product if it is not properly represented.

This market entry approach is not recommended for our Organization based on our product shelf life, the low international involvement in the reduce marketing and the high tariffs imposed on exports to Brazil. Market Entry Approach -3 Intermediate Export Mode- Joint Venture Intermediate Entry mode is a vehicle for the transfer of knowledge and skills between partners to create sales. Some advantages of this market entry approach are local manufacturer can secure government contracts, protects patients, may avoid local tariffs barriers, shared risk in case of failure, low risk, great level control and high international involvement. Misusing and possibility of present partner becoming a future competitor. Joint endures are complex transactions, they require a careful analysis of each party’s aims and objectives. Participants should have clear and common objectives, as well as balanced expertise, investments and power of management. Factors affecting the suitability of this approach for this product, organizational and environmental are company’s financial resources and coloratura background and international export experience.

This approach may be an option suited for this product because of the low risk, greater control and high international involvement. Organizational Suitability This approach is suitable for Each a SEEM. Small companies can increase their market participation, their know-how and their technology, without making greater investments Our organization possess medium level resource for this approach. Our organization is willing to engage in low risk Our organization is currently in 27 international markets This approach offer our organization high control. Maintain shared power in leadership. YARD Limited a Norwegian based Oil and Gas Company and the Government of Trinidad and Tobago is an example of a Joint venture that successfully used this approach in their ongoing endeavourers. Some of the benefits this Joint venture enjoys re the local companies can increase local market competitiveness, particularly with regard to price, delivery schedule and quality requirements On the other hand the joint venture between Tiffany and CO. And Swatch Group has failed miserably according to BBC News (2013).

This was due to an argument over control and Tiffany and Co. Loss of interest in the Joint venture thus blocking the development of the Swatch business. Conclusion This market entry approach is recommended for our Organization based on my analysis. Joint Ventures though risky can be very profitable if done properly with well engaged and calculated risks. This will be the best choice for our company simply based on the barriers we can overcome in the Brazilian markets we are attempting to enter.

Market Entry Strategy Recommendation market is Joint Venture, a sub category of Intermediate entry mode. In relation to other modes of entry, Joint Venture mode gives access to expertise and contacts in both foreign and local markets, reduces market and political risks, allow for shared knowledge and resources, positive economy of scale, overcomes post government restrictions, overcomes language barrier, aid in avoiding local tariffs barriers, share kiss and improves relationship with national government.

Although this mode may be more costly than some other options, cultural differences may result in different managerial styles between both sides and the possibility that dual parenting may lead to some obvious friction, the pros of a Joint venture out way weigh the cons. In the case of cost, any experienced international exporter would be able to confirm that it is much more rewarding for a company to spend a bit more as long as it is in their means for long term financial peace of mind. In addition, the ultimate savings in he long term due to shared risks and cost of assets more than Justifies the initial investments and costs of operation.

An example of this would be cost of legal negotiations, cost of market research of foreign market, cost of marketing in the foreign market, cost of shipping and tariffs. These costs would be greatly reduced or in some cases or may be totally eliminated by the inclusion of a local partner in the foreign market through the Joint venture strategy. In the case of difference in managerial styles due to cultural differences; this can be easily rectified if dealt with in the initial stages of the partnership. Cultural differences is not the only type of difference between business partners.

Many Joint venture companies suffer great loss due to differences, many of whom may be of the same culture. Therefore to believe that cultural differences in partners is a deterrent to Joint venture partnership would be to shut down the start of most businesses period. This true because similarities in cultures is hardly the main factor for business partnerships. As for the language barrier, the Joint Venture Strategy is superior in every aspect. In Trinidad and Tobago we speak English whilst in Brazil they speak Portuguese.

Free Sample: Global Marketing paper example for writing essay

Global Marketing - Essay Example

It is known in Singapore and Thailand the market share of ASCII is low but still one of the leading brands. This paper mainly focuses on ASCII and Sean countries development and growth and how it impacts the bunnies by entering their market. But this paper mainly focuses on major countries Like Singapore and Thailand they are the emerging market and high business prospects PEST analysis Is used for understanding the growth or decline of the market this paper focus on PEST analysis of Singapore,and Thailand but main focus is Singapore.

PEST Consist of Political, Economic, Social and Technological. Singapore is well known for its grasping culture. People push themselves in quest for ACS. (Cars, cards and country clubs,) Singapore thrive themselves to excel even at young age even with the amount of stress people have Singapore Is known as the happiest countries In Salsa ports from BBC news.

Political Factors Political Climate in Singapore is stable, Being considered centralized the political culture is down-to-earth, rational,and based on the rules of laws, Where as Thailand has a democratic form of government with king as the state head, Thailand is a sovereign free to conduct Internal and external affairs without pressure or control from other countries-Government plans the policies for the country and plans for the development of the nation. Being positive the government believes to think for the future.

Although Singapore refer to the current ruling party PAP (People’s Action Party) as ‘Pay and Pay, it is the PAP’s governance and policy decisions that have contributed to Singapore political stability, social harmony and economic prosperity. Infrastructure and conditions for Investment, Including ensuring the rule of law, were Economic Factors Singapore boasts of a competitive, corruption-free, open business environment. The Port of Singapore is one of the busiest in the world as the country focuses on electronics and chemical exports to richer industrialized nations.

However, over the years, Singapore has diversified its economy and today it has become a research amp; development hub, bio-medical hub, banking and finance center and in recent times the health-care destination of Asia. Today, Singapore is a knowledge-based economy and attracts multinational investments. Its open trade policies, social stability, world-class infrastructure and international communication links, are some of the reasons why foreign investors flock its shores.

This is despite the fact that land and labor costs have risen sharply and employers have to pay a sizable portion of their employees’ salary to their Central Provident Funds. Besides Thailand strong classical system and stable government it also has a suitable structure and foundation for contributing to the economic development. Moreover it has embraced free trade system and promoted international trade and investment . Since the export-oriented Economy depends on the stability of world economy Thai government also focus on developing infuriates .

Singapore is the second most competitive economy in the world according to the World Economic Forum’s ‘Global Competitiveness Report 2011-2012. According to the Heritage Foundation’s ‘2012 Index of Economic Freedom’ Singapore is the second freest economy in the world. The country is also known for its low tax regime. In Singapore, personal income tax rates start from 0% and are capped at 20% for residents while non-residents are taxed at a flat rate of 15%. The corporate income tax rate in Singapore is approximately 8. 5% for profits up to S $300,000 and a flat above $300,000.

The main goal is to developed and create valuable knowledge base that can be adopted and can extant for local benefits and the level of Research and Development activities to drive forward the economies through efficient use of research network and resources Strengths ASCII has established it self as a Inch brand in Sportswear industry as it is only focused in running shoes. Marketing and Innovation play a key role for ASCII many within the firm and the Research and Development is the heart for Innovativeness and are the key for raising the market share in Sean market.

ASCII also sponsors many international teams and major events both internationally and Local ASCII has a strong brand image in Japan and American continent. Weekends Because of divergent regional strategy brand communication to the customer is not consistent, Store formats is regional based. They do not have a Non Unified procurement source. Customer’s perception about Acacias as a Non-laconic brand. Lacking presence on web. ASCII should focus only running shoes and its accessories associated with running shoes like Apparels etc.

ASCII main weakness is to create awareness in countries where sports is not a culture, Its marketing strategies is divided by regions where as competition strategy is global strategy. Opportunities ASCII main opportunities is to increase awareness in emerging countries and build awareness, Integrate e-business into the business model and create more online web service to make customers more comfortable and aware of ASCII. ASCII should do sponsoring events both international and local. Threats Major threats for ASCII are that their are many compositors in the market which moment in sports shoe and use global strategies. Monitors threat is high as most of them are global and ASCII need to adapt to global strategy to compete with other markets. ASCII will have to compete with competitors to sustain in the market. Competitors also make counterfeit shoes; they need to dado and strategies according to their needs. Competitors analysis Mike and Addis both companies produce identical product lines of the sporting footwear, appear and equipment. There selling and branding strategy are very different Addis store offers fairly traditional sporting goods and store layout.

However Mike takes an alternative approach. Their communication strategy also differs. Mike always offers a fully integrated communication to the customer thereby improving the customer awareness on the complete range of products. Mike also creates a narrative around its products which increases the brand value and awareness. Daisy’s strategy of devoting a distinct identity for each sport for smart and effective. Both Mike and Daisy’s provide customers with simpler more conclusive experience that is loud and clear.

But the market share for ASCII competitors are higher the data is show below. Source: (http://www. Slideshows. Et/ravi9579654571 [sport-shoe-industry) The above diagramed which is represented in a pie chart form shows ASCII market share globally along with its competitors like Mike which has 31% of market share and Addis has 16% followed by Rebook,Puma and other shoe manufacturing brands. For Acacias to improve its market share in Asia and globally it has to increase its brand awareness and change its strategies so that ASCII can maintain its brand and name so as to compete’ n the market.

In conclusion ASCII when entering into the new market or Sean counties it should change its target market or go according to the customer deeds ASCII needs to chance the way it is in local market for it to become a more popular brand all over. Moving into the new market is not easy it has to take into consideration the environmental factors like PEST which looks into each aspect of Sean countries and the culture and behavior of people also the technology available in those countries since Japan is highly developed and advanced technology .

It not only needs to look into these markets but consider changing the strategies and going global Like all market researchers say’ Think Local go Global”. Q What might be major obstacles and barriers in entering into the SEAN markets? Suggest some possible solutions to overcome the obstacles and barriers in entering the SEAN market. Barriers to market entry include a number of different factors industry. For example, an industry may require new entrants to make large investments in capital equipment, or existing firms may have earned strong customer loyalties that may be difficult for new entrants to overcome.

The ease of entry into an industry in Just one aspect of an industry analysis; the others include the power held by suppliers and buyers, the existing competitors and the nature of competition, and he degree to which similar products or services can act as substitutes for those provided by the industry. It is important for small business owners to understand all of these critical industry factors in order to compete effectively and make good strategic decisions. ASCII needs to consider the culture, customer loyalty and other aspects in entering the Sean market which is a major obstetrical for the company.

The ease of entry into an industry is important because it determines the likelihood that a company will face new competitors. In industries that are easy to enter, sources of competitive advantage tend to wane quickly. On the other hand, in industries that are difficult to enter, sources of competitive advantage last longer, and firms also tend to develop greater operational efficiencies because of the pressure of competition. The ease of entry into an industry depends upon two factors: the reaction of existing competitors to new entrants; and the barriers to market entry that prevail in the industry.

Existing competitors are most likely to react strongly against new entrants when there is a history of such behavior, when the competitors have invested substantial resources in the industry, and when the industry is hardhearted by slow growth. In his landmark book Competitive Strategy: Techniques for Analyzing Industries and Competitors,Michael E. Porter identified six major sources of barriers to market entry: 1. Economies of scale. Economies of scale occur when the unit cost of a product declines as production volume increases.

When existing competitors in an industry have achieved economies of scale, it acts as a barrier by forcing new entrants to either compete on a large scale or accept a cost disadvantage in order to compete on a small scale. There are also a number of other cost advantages held by existing interiors that act as barriers to market entry when they cannot be duplicated by new entrants as proprietary technology, favorable locations, government subsidies, good access to raw materials, and experience and learning curves. 2.

Product differentiation. In many markets and industries, established competitors have gained customer loyalty and brand identification through their long-standing advertising and customer service efforts. This creates a barrier to market entry by forcing new entrants to spend time and money to differentiate their products in the marketplace and overcome these loyalties. 3. Capital requirements. Another type of barrier to market entry occurs when new entrants are required to invest large financial resources in order to compete in an industry.

For example, certain industries may require capital investments in inventories or production facilities. Capital requirements form a particularly strong barrier when the capital is required for risky investments like research and development. 4. Switching costs. A switching cost refers to a one-time cost that is incurred by a buyer as a result of switching from one supplier’s product to another’s. Some examples of switching costs include ND redesigning products.

High switching costs form an effective entry barrier by forcing new entrants to provide potential customers with incentives to adopt their products. 5. Access to channels of distribution. In many industries, established competitors control the logical channels of distribution through long-standing relationships. In order to persuade distribution channels to accept a new product, new entrants often must provide incentives in the form of price discounts, promotions, and cooperative advertising.

Such expenditures act as a barrier by reducing the profitability of new entrants. 6. Government policy. Government policies can limit or prevent new competitors from entering industries through licensing requirements, limits on access to raw materials, pollution standards, product testing regulations, etc It is important to note that barriers to market entry can change over time, as an industry matures, or as a result of strategic decisions made by existing competitors. In addition, entry barriers should never be considered insurmountable obstacles.

Some small businesses are likely to possess the resources and skills that will allow them to overcome entry barriers more easily and cheaply than others. Low entry and exit barriers reduce the risk in entering a new market, and may make the opportunity more attractive financially,” Glen L. Urban and Steven H. Star explained in their backhanded Marketing Strategy. But “in many cases, we would be better off selecting market opportunities with high entry barriers (despite the greater risk and investment required) so that we can enjoy the advantage of fewer potential entrants. Q Recommend an appropriate brand strategy for the SEAN market. Justify your answer. For a company like ASCII to enter a emerging market it needs to consider retain attributes Like what strategies to adopt and what kind of Plans to implement. To enter a emerging market like Sean market there are many factories to consider along the way and ASCII needs to consider all these in view for them to enter into the market. There are some strategies which can be considers while entering Sean markets like Indonesia, Vietnam OR Singapore.

They are Greenfield, Acquisition, and Joint ventures OVA) these three are some of the common strategies which can be used by ASCII in order attain market in new emerging countries there are others like Standardized and Adaptation methods as well. For ASCII to bulb its brand it needs to differentiate it self from its rivals, stand out from competition,lenience a consumer’s purchasing decision to company favor and build loyalty boost share of company’s performance.

Firms need to consider all these aspects as the try to create brand awareness in a new country. Many Sean countries use these methods to create brand awareness. So for ASCII to enter a new or emerging market it needs to take into account all these factors to create awareness. The strategy of ASCII can either associate with is Accession or Greenfield. Acquisitions is basically acquiring a manufacturing company or taking the company as a part of ASCII.

ASCII can use this method to build its market share and build awareness quickly as they have labor cost reduced, Infrastructure available, and ASCII need not worry about the whole Acquisition is the best way ASCII can go into a new market. Greenfield is starting from scratch looking into market and implementing the strategy. The best way ASCII can build its brand and enter the market is through Acquisitions and adaptation where it can adopt to the countries environment like its culture, taste, style,weather conditions and Income.

All these factors will help ASCII starting their business in the new emerging country. In Conclusion ASCII needs to consider all the aspects of the market in Asian countries and how to build brand awareness. ASCII can’t enter the market easy as the strategies are different in certain countries. ASCII can use adaptation strategy to enter the market as it can use these factors and consider to start manufacturing their product. ASCII in the future can become or compete with Mike or Addis if they use the right strategy and right method to build brand awareness and improve company performances.

Free Sample: Global Marketing paper example for writing essay

Global Marketing - Essay Example

The way you promote your product in the united States will not eve the same impact in Australia for example, or in Asia, so you need to come up with a battle plan for each culture. The amazing thing today is that you don’t need to have a very large business or be part of a corporation in order to operate in other countries or continents. All you need is for your product to be valuable, for it to be demanded; or you can create demand for It, and that could be part of your global marketing strategy.

The first thing that you need to understand about It Is that It definitely Is not something standardized; you need to ply your product for the consumers, you need to adapt the reduce Itself, or the way It Is promoted. You can, for example, standardize your logo, thus making It recognizable around the world, but things such as packaging, promotions, commercials, and your advertising strategy have to be adjusted to the culture, economy and society they are intended for.

Your global marketing strategy is only an aspect of your global strategy, and it has to take into consideration several details, such as research and development, finances, market trends, surveys and so on. First of all, you have to define your goals; think of what you are trying to achieve y going global, about the challenges and difficulties you face with a new market, or the competitors you may or may not have. Every detail of this process is important, because the clearer your objectives are, the easier it will be to find solutions and be successful on the global market.

For example, depending on the countries or continents you want to reach, think of what can stay the same and what has to be adapted to that type of society. Perhaps you can keep parts of the packaging, but the way you advertise has to be different: although you’re selling the same product, how oh present it can be totally different from country to country. It doesn’t matter if you have to change things drastically for each country; be glad that you have the tools and resources to adapt.

The better you promote your product, the bigger the chances of success. Learn everything you can about each target and see what they respond to; that way you’ll be able to adopt an appropriate position and become “familiar” with your new customers. Today, thanks to the Internet, people know about certain products or services even if they are not currently present in their countries; you can observe whether there Is a gap in the market somewhere and go to fill it, knowing that your customers are already lined up.

Moreover, you can easily see how people react to similar products, or what marketing strategies function with them. Global marketing strategy Is not Important Just because It brings your company more money and recognition, but also because it can save the company money in those places globalization of spirit, of culture and ideas, and getting globalizes products and services is Just a natural step. Start working on your global strategy today and see what it can do for your business.