The paper “ Development and Implementation of International Marketing Strategy” is a brilliant version of the assignment on marketing. Reconnaissance missions: These are trips to international target destinations by the marketing research team to obtain first-hand information and personal experience of the host country. The reconnaissance team is interested in the culture, technology, economy, social cohesiveness of the people, performance and structures of competitors and purchasing power of the consumers (Burke, 117). b) Networking: Developing linkages and interconnections between different partners inside and outside the supply chain to the learning of best practices, access to the latest technology, industry trends and growth (Doole & Lowe, 33). c) Austrade: This is the Australian commission on trade, education, and investment that assists Australian businesses in engaging in international marketing to contribute to the national economy (ACT, 4). d) In-house research: It involves the organization’ s employees' gathering, compiling and documenting marketing information and data such as observation, customer interviews, and questionnaires without the need to hire external marketing research firms (Zikmund and Babin, 24). a) Ethical and legal requirements when implementing marketing activitiesResponsible marketing to consider the rights of children and minoritiesExpression of citizenship, responsibility, fairness, and honesty when advertising products and servicesProviding shared and consistent approaches to ethical decisions that integrate organizational codes of conduct, training, and valuesCompliance to marketing laws and regulation on product liability, product disposal, and useb) Safety requirementsi.
Guaranteeing safety and health to employees involved in marketing activitiesii. Applying the required disclaimers and caution to risky products that may cause harm to users. iii. Safe custody and storage of marketing materials from access by unauthorized parties like childreniv). Using controls and measures to protect organizational marketing data and information from access by hackers and other unauthorized persons. c).
Cultural considerationsi. Protecting the rights of cultural minorities and beliefs of the community or society being targeted by marketing activitiesii. Involvement in morally acceptable advertising that meets the threshold of modest dressing, language and belief systemsiii. Advertising and marketing products that are consistent with the cultural practices of the host societyInvolving locals in domestic marketing activities based on their values, level of education, lifestyles, and tastesInternational markets experience frequent changes which must be studied and regularly documented. Ongoing research will help establish changes in demographics such as incomes, level of education, marital status, laws and regulations, and population size (Welch, et al.
103). In addition, it is important to know the entry of new competitors into the market and the size of their market share. Ongoing research will help obtain up to date information regarding the various household and economic variables that keep changing in the international arena. Statistical analysis toolsRegression models: Regression analysis provides a relationship between a number of variables that may affect customer loyalty, consumer purchase behavior and satisfaction (Webb, 54).
For example, estimation of best fit for customer loyalty under regression considers the Y variable (customer loyalty) against the changes in commitment (X1), satisfaction (X2) trust (X3) and others. Discriminant analysis: This technique classifies products, people and other tangibles into two or more categories (Webb, 54). For example, distinguishing the effectiveness of advertising channels for various product types. Cluster analysis: This technique separates objects into mutually exclusive groups that are constitutionally homogenous (Zikmund and Babin, 56). For example, the researcher may be interested in grouping consumers into certain segments based on their similarities and attributes. Magazines are one of the external sources of information on international marketing (Webb, 33).
Industry magazines such as B2B Marketing Magazine are available online on the website www. b2bmarketing. net/magazine and provide information on how to market products and gain entry into new markets. The highlights of this magazine are features, case studies, research, analysis, news reviews and a mixture of best practices. Five marketing strategies suitable for international marketing (Erramillii & Rao, 138)Joint venturesMergers and acquisitionsStrategic alliancesDivestitureFranchisingStrategic alliances: Global strategic alliances work on both import and export business and maximizes competitive advantages.
In a strategic alliance, two corporations based in their home countries pursue a related business or a new geographic market where the government prohibits imports (McDonald & Burton, 25). Costs are shared equally and make use of the existing geographical markets. For example, Nokia and Microsoft have entered a strategic alliance to develop innovative mobile products based on complementary expertise and strengths. It is advisable to enter into an alliance with a company with a long-standing business relationship. This strategy is good because the firms exploit new skills and technology, enlarge distribution channels, exploit new opportunities and gain knowledge on international culture and customs.
However, communication could be less efficient and fear of market insulation as well as the loss of control on quality, costs, employees, and others could frustrate the alliance (McDonald & Burton, 26). Despite that, it may be important to explore all the financial and legal implications before pursuing any partnership with international companies. Causal influences and international marketing Global financial crisis: The collapse in the international market lowers the value of stocks and the strengths of currencies of countries.
Consumers will be worse off because of increased rates hence the inability to procure or sell goods and services to international customers (Whitelock, 342). This affects the balance of payments. Australian dollar: This acts as a measure of value and currency. The dollar is vulnerable to inflation and international currency fluctuations. Reduction in the strength of the AUD$ against the US$ means that imports would be very expensive while exports become undervalued. Demand for Australian goods in the international market will increase but the supply of imported goods will reduce. Natural disasters: Natural disasters such as the arctic volcanic eruptions and tsunamis affect transportation corridors such as land, air, and water.
Moving goods from one country to another will be difficult or becomes expensive. Ultimately, the cost of the services or goods to the final consumer in the international market will be high (Sinkovics & Ghauri, 38). INCOTERMS are rules defining the roles and responsibilities of buyers and sellers under sales contracts for the delivery of goods and services (Ramberg, 15). They are widely used in commercial transactions and published by the International Chamber of Commerce (ICC).
These terms have been incorporated into international sales contracts. Some of the terms include; Free Carrie, EX works, Carriage and Insurance Paid To, Free Alongside Ship, Cost and Freight and Free On Board among others.
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