Mkt 571 Week 1 Mkt 571 Week 1

If you are ready to start doing business on an international level, there are some considerations to keep in mind. These five tips will help to ensure a successful business venture in the global market.

Marketing is a very unique process that enables limitless methods or variations for an entity to appeal to a particular target market as well as to deter from a particular market. Marketing is used in more than just business; The kinds of clothes an individual wears and the attitude a person portrays can be used to market him or herself to the public for many reasons: Maybe to attract a woman a man is attracted to, possibly to impress the president of a company a person is interviewing for, and even to just create a base of his or her character in which other people will judge him or her by. Marketing is everywhere from the business side of the spectrum to relationships people have

I. Executive Summary II. Situation Analysis o Market Summary  Target Market Demographics  Geographic  Demographics  Behavior Factors Market Needs Market Trends Market Growth o SWOT Analysis  Strengths  Weaknesses  Opportunities  Threats o Competition o Product Offering o Keys to Success o Critical Issues III. Marketing Strategy o Mission o Marketing Objectives o Financial Objectives o Target Markets o Positioning o Strategies o Marketing Mix o Marketing Research o Action Plan IV. Financials o o o V. Controls o o o VI. Summary Implementation Marketing Organization Contingency Planning Breakeven Analysis Sales Forecast Expense Forecast

Globalization is one of the crucial factors that have impacted the business. Without the proper utilization of the effects of the globalization, it is very difficult for a company to get the competitive advantage. There are many factors that need to be considered before rolling out the product in the global market. The first is to analyze the value chain of the company and to understand and decide on the position where they management wants the company to be into. Then comes the licensing,

This marketing plan will also engulf vision of the company, its mission statement, product and services, and underlying factor of the business. The plans will also contain a vivid description of the company in terms of its business product as well as SWOT analysis to demonstrate its strengths, weaknesses, opportunities, and threats. A market target segmentation of customers, strategic mission, and its foreign expansion

How should this market be segmented? Identify the key segmentation variables that are relevant for this market.

Markets consist of buyers that differ in their needs, wants, resources, locations, buying attitudes and buying practices. To reach customer insight, it is important to understand the needs of different segments and to communicate pertinently to them (Brown L, Brown C, Gallagher SM, 2008).

Sometimes it’s not so important that your product fits the exact needs of the segment you target; rather, it’s vital that customers perceive that you do, even if it’s not true. In order to achieve this, the proper amount of advertising and sending the appropriate message are both vital.

The third table is to outline some of the activities we might find at each stage of the marketing process; this is brief summary of the importance of the different stages.

Many companies today want to expand their business to the international business, which can bring cost down and profits up. Taking a business internationally means knowing the rules and regulations of the countries you are entering. There can be many issues with going global which include cultural barriers, diversity issues, multicultural issues, political issues, and economical issues. It is very important to know how important expansion is to the company and what implications will come from going global.

The need for a solid market entry decision is an integral part of a global market entry strategy. Entry decisions heavily influence the firm’s other marketing-mix decisions. Company can enter International Market with many ways, some of them are as follows:

First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.

Carefully evaluate the pros and cons of the segment markets and determine the market where the product has definite advantages over other

The company will conduct marketing strategies that aim at creating an image for the brand in the minds of the consumers and reminding them customers about their products consistently.

Companies can decide to go global or to enter international markets for various reasons, and these different objectives at the time of entry that enable the business to produce different strategies and the performance goals, and even forms of market participation.