The paper “ International Marketing in Automotive industry of Japan, Britain and South Korea” is a spectacular example of essay on marketing. International marketing involves a lot of complex processes that every business firm needs to be familiar with. It is important for a business firm to understand the challenges and benefits it is likely to experience by exporting products to particular countries. There are market risks which are associated with international marketing such as strict regulatory laws, tariffs, high taxation, and foreign ownership laws. A firm may also face difficulties in accessing important marketing and distribution channels for its products and this may have a consequence on its overall performance in a particular market. The products to be sold will be cars and they will be manufactured and exported to three main destinations.
Cars have a high demand in various destinations because they are the most preferred mode of transportation which people rely on in major cities and countries. People’ s tastes and preferences for cars are constantly changing and they opt for particular models that are able to satisfy their needs and interests.
An effective marketing strategy will be formulated to look at consumption patterns in various countries and how they are likely to impact the sale and purchase of cars by various consumers (Slater, Narver & McLachlan, 2004, p. 337). This paper will discuss specific market factors in Japan, South Korea, and Britain to find out how they affect the sales of vehicles in these three countries. The paper will focus on one of the three countries with the most favorable market environment to find out how car exports from Australia can be marketed there. Main BodyThe three main countries that will be the target destinations for cars include Japan, Britain and South Korea.
These countries have been chosen because the international market segmentation focused on consumption patterns, lifestyles, purchasing power and preference for new products from other countries. Other factors that have been considered include legal factors, the existence of competitors, ease of entry and other business regulations that are likely to impact the sales of the product in the market (Panda, 2008, p. 68). The entry strategy for each of these markets will be taken into consideration to ensure that the firm gets a positive return on investment within the first two years of setting up operations in each of the three countries chosen.
Other factors that are associated with the ease of doing business in each of these three countries will be taken into consideration before export procedures are put in place by the firm. South Korea and Japan are close to Australia and they are more suitable because of their geographical location. In particular, South Korea has favorable laws that favor foreign investments and this will make it possible for cars to be exported there with fewer restrictions.
Another factor that makes South Korea a suitable market is that its population is liberal and they prefer purchasing high-quality commodities. The firm stands to gain by coming up with appropriate market penetration strategies because prospective car buyers go for brands that have outstanding attributes that conform to their status and lifestyles. Consumers in South Korea easily accommodate goods from other countries and their cultural backgrounds do not discourage them from sampling new products that are being sold (Pride, W.M.
& Ferrell, 2010, p. 92). Therefore, the market entry strategy is likely to benefit from fewer restrictions that exist in the country.
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