International Marketing Essay Example | Topics and Well Written Essays - 1250 words

International Marketing - Essay ExampleExamples of multinational companies are Wal-Mart Stores, Inc., Toyota Motor Corporation and Procter & Gamble friendship (Doole & Lowe, 2008). International Marketing In international merchandise, multinational companies may adopt either a global merchandise start or a multi-domestic marketing approach. The global marketing approach involves developing a regulated marketing plan, which is implemented with minimal modifications in both home and all international markets. An proceeds of global marketing approach is the economies of scale to production and marketing activities. This standardized strategy cuts costs since it allows large-scale production runs and strengthens the image of the brand. A global marketing strategy can nurture collaborative innovation and can excellently boost sales of goods and services to across markets that have common cultures and languages. This strategy is trenchant particularly in marketing goods with strong , universal appeal. Global advertising media such as international print and broadcasting channels help companies to convey a single message to the international audience (Kaynak, 2002). Cost-effectiveness in the implementation of the global marketing approach is its major but most multinational companies are practically faced with the need to segment their international markets and develop marketing strategies that meet the unique needs of the target market in specific countries. Multi-domestic marketing approach takes into consideration the differences between the characteristics of different international markets and develops marketing strategies tailored for each market. Most multi-national companies modify their marketing approaches to successfully appeal to individual target markets in the belief that most goods and services demand multi-domestic marketing approaches to give them an appeal on the global market. Market characteristics such as geography, culture and language p rogress to it difficult to employ a single market strategy across different segments of international markets. Nevertheless, some particular situations may let multinational companies standardize some aspects of the marketing strategies but tailor others. Some multi-domestic marketing mix approaches for selecting the most appropriate marketing strategy for a particular international market are product invention, straight extension, dual adaptation, promotion adaptation and product adaptation (Onkvisit & Shaw, 2008). Multinational companies may also choose among countertrade, distribution and distribution strategies. Wal-Mart Stores, Inc. Wal-Mart is angiotensin-converting enzyme of the largest retail chains globally operating diverse kinds of retail stores. The stores range from neighborhood stores, supercenters, discount stores and online retail stores/clubs. Wal-Mart offers wide-ranging products, goods and services including drugs and pharmaceutical products fitness and kayo aid s cameras, optical supplies and photograph processing household goods and chemicals apparels clothes and shoes stationery and books housewares and furnishings electronics appliances automobile accessories horticultural products, sporting merchandises toys pet food and items (Kaynak, 2002). The neighborhood markets imply fresh groceries, meat and dairy products, deli, baked foods, frozen foods, medications, paper goods and general merchandise