Global Market Strategies

The strategy making process begins as industry and company analyses are brought into the corporate planning process. In this most important part of the management processes, corporate missions, assets, and competencies are reviewed, and businesses and market strengths and weaknesses are assessed. From these evaluations, companies prepare to internationalize their operations or, if they are seasoned campaigners, to integrate their activities globally. These processes ensure that firms have the appropriate organizations and managerial talent to cope with the rigors of extending businesses over increasing numbers of markets, and to ensure that personnel, corporate processes, and organizational structures are matched to industry, business, and market needs. Once internal analyses are complete, firms review and evaluate their choices of market entry and servicing strategies.

Management Decision, 2008

During the last half of the twentieth century, many barriers to international trade fell and a wave of firms began pursuing global strategies to gain a competitive advantage. However, some industries benefit more from globalization than do others, and some nations have a comparative advantage over other nations in certain industries. To create a successful global strategy, managers first must understand the nature of global industries and the dynamics of global competition. The paper presents the problem of international business strategy. First, the authors define a concept of international strategy and gives some reasons why do companies go international and how they do it (entry strategy). The paper includes the case study of international strategy used by IKEA and attempts to explain when firms should standardize or adopt their products to foreign market. After that, the authors show some examples of joint venture and international alliances.

Zenodo (CERN European Organization for Nuclear Research), 2022

Global trade has expanded tremendously over the past few decades, making international marketing more important than ever before. The rapid spread of globalisation has been a significant force, with billions of new customers and competitors from China, India, and the former Soviet Union entering the global market, as well as improvements. Revolutionary in terms of communication and transportation, as well as economic liberalisation expansion. The rapid growth of emerging markets and the expansion of communication channels. Give new clients more access to the numerous benefits offered by global marketers to improve their quality of life. This investigation will demonstrate how worldwide marketing influences and interacts with international business.

Journal of International Marketing

This article describes the development of an analytical framework of strategic behavior in globalizing markets, based on different strands of literature (internationalization process, strategic groups, intra-industry trade, and global management). The framework consists of a three-by-three matrix with the following dimensions: the global structure of the industry (industry globality) and the firm's preparedness for internationalization. In each ofthe nine resulting cells ("The Nine Strategic Windows") the author discusses consequences for strategic behavior of the firm. The author makes concrete suggestions on company strategy, varying from "stay at home" to "strengthen your global position." In order to illustrate the framework, the study of a Norwegian ship equipment manufacturer is briefiy discussed.

International Journal of Professional Business Review

Purpose: This article examines the theoretical aspects of businesses entering foreign markets within the context of globalisation. It highlights the challenges and opportunities presented by globalisation, focusing on the arrangement of companies and the strategic approaches adopted when entering global markets. The purpose of this study is to explore the impact of globalisation on businesses and identify strategies for successfully entering foreign markets. Theoretical framework: The investigation is conducted within the framework of existing theories and research on globalisation, market entry strategies, and cultural and behavioural aspects influencing businesses' global expansion. Design/methodology/approach: A qualitative approach is used, examining prior studies and research in the field, to analyse the factors influencing businesses' global expansion and the methods for entering foreign markets. Findings: The results suggest that globalisation positively affect...

Economic Research-Ekonomska Istraživanja, 2011

Most of the firms are eyeing at the global marketplace to improve their competitiveness. Considerable controversy has arisen in recent years, concerning the most appropriate strategy in international markets. Deciding how to deal with the globalization of markets, poses tough issues and choices for managers and their firms. They must consider both – external environmental forces and internal organizational factors, before they arrive at an international marketing strategy. The growing integration of international markets as well as the growth of competition on a worldwide scale implies adoption of a global perspective in planning marketing strategy. The paper is divided into three parts. The first part deals with the factors that enable the industry to globalize. The second part examines the concept of global competitiveness and studies the factors leading to global competitiveness. Finally, in the third part, on the basis of the points discussed in the two earlier parts, a general approach is suggested for the firms to achieve global competitiveness. In this paper, ideas from available literature are integrated in a comprehensive conceptual framework in which strategies can be formulated. The paper, further presents a basis for developing international marketing strategies alongwith a comprehensive discussion on developing global competitiveness.

In an era of globalization, managers, consultants, and researchers have all recognized that the study of industries, strategies, and organizations in a global context needs to be regarded as the norm. It has been argued that success or failure of a business in the twenty-first century will depend on whether it can compete effectively in world markets (for example, Hax, 1989;. Global strategy, hereby defined as the way a business competes in the global market, plays a vital role in determining the performance of a business in the global market. By conceiving a global strategy, management articulates a response to the interdependent nature of global markets, where competition is no longer on a market-by-market basis (multidomestic). Global strategy must not only incorporate broad, strategic direction but also specify how activities such as sourcing, R&D, manufacturing, and marketing must be co-ordinated worldwide. Because marketing assumes the role of interacting directly with the customers and competitors in the marketplace, marketing strategy is probably the most important component of a firm's global strategy.

In this part of the module, we have considered some different cases of companies who have expanded abroad and tried to understand why it is that they have made the decision to do so. Sometimes it is a case that international expansion is born out of taking advantage of opportunities to grow profits by entering into markets outside of a company's home market. Fung notes that " in light of a global economy and growing competition, domestic firms are affect by global market forces and no longer can act solely within domestic constraints " (2014, pp116). Regardless of the motivation, we must understanding the importance of achieving profitability in foreign markets and the need to control costs to avoid losing too much money. Hill (2013) notes that in an ideal situation a company can simply offer its products in a foreign market and this will enable them to achieve an economy of scale, minimising production costs and maximising sales. In this summary, we will summarise a number of Hill's ideas. Nonetheless, it is not as simple as this for many organisations and Hill highlights the pressure of being locally responsive to differences in consumers, all while keeping an eye on costs and profits.