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Understand the strategies used by international busines (Marketing (Data…
Understand the strategies used by international busines
Reasons
Emerging Markets
Opportunities for an organization to increase their market shares and sales.
Economies of Scale
It gives an organization the benefit for their purchases and produce in bulk.
Diversification
Reduce the risk of specializing in one product or services
Cost Reduction
Opportunity for undeveloped and/or developing regions that may provide cheaper workforces, transport etc.
Growth
Businesses that operates in internationally creates growth in the business
Taxation Regime
Opportunities taken by organizations to benifit of the lower taxation regime set up in free trade zones.
Legal and Regulatory
Opportunities to take advantage of less regulation and fewer legislative requierments. This makes it easier for an organization to set up and to move
Marketing
Identifying Marketing
Before you trade abroad as a company, you need to do market research to identify the target markets, trends and consumer behaviour.
Data Analysis
Collecting information helps a business to consider the type of strategy that will use to trade internationally but also creates of policies, recruitment etc.
It gives the opportunity to develop the marketing mix for products or services
Marketing Information System
Helps a business to maintain and update research and operational marketing data. This makes sure that an organization can be informed, accurate, timely and reliable business decisions.
Promotion
Advertising
Promote your products or services to attract customers.
Adaption/Standardisation of Product and Promotion
Standardization
is a method to reduce costs but also increasing quality
Adaptation
are the changes and modifications made in order to adjust to each market
Licensing
An agreement with a business for them to manufacture or provide the service locally
Co-Production
Co-produce its products with a business in the country
Join Ventures
A company that owns a percentage of another company
Production and Distribution
Standardisation of Products
Standardization is a method to reduce costs but also increasing quality
Product Differentiation
Making differences in the product range of different providers.
Product Pricing
Price that is based on lokal market, manufacutring costs, operational costs, the economy and competitors pricing strategies.
Distribution Channels
A channel thats shows how a product or service gets from point A to B
Transportation
A transport link by road, rail, shipping channels or pipelines across the world to transport the products or services.
Supply Chain
Supply chain management is based on what the customer needs like the products that you wants to sell. Also it is also based on everything what you as a company need to produce a good (working) product to sell as an example is packing material. Another thing is a good process to produce the product. At the end it is all about the customer needs.
Logistics
The process of managing distribution and flow of materials and services
Human Resources
Staff- Foreign personnel and/or expariate