Tuesday, July 23, 2019

Complete standartisation of offerings and marketing interactions in Essay

Complete standartisation of offerings and marketing interactions in International Marketing strategy is always the main goal to - Essay Example The economic reforms adopted by the governments in different economies across the world led to the inflow of investments by the companies in the foreign countries which opened up the global markets for the companies of different sizes across the world. The transformation in the business environment led to the modification in the international strategies adopted by the companies. Thus the marketing environment and the culture of the companies underwent rapid changes over the period of time. The developments in the market environment and the strategies adopted by the organizations have come up in order to respond to the changes in the consumer behaviour and demands of the customers in the economy. The advancement in communication technologies and other online applications as a result of strategic implementations in the global markets have changed the outlook of the customers of the companies. The customers have become more aware of the information on the products and the services offer ed in the global arena. The level of awareness of the customers has increased and they have started to weigh the different options for the products and services offered by the companies in the international markets. The customers have learnt to define their needs in a far better manner and seek solution to satisfy their wants on a consistent basis (Andrus, 1990, p.430). Apart from this, there have an increase in the competition among the business houses for offering the products and services in the market. In order to gain competitive advantage, the companies started to focus on their strategies to avoid duplication of information on the products and services offered by the company. This led to the standardization of the offerings and marketing interactions as an important trend in the international marketing strategies of the companies. International Marketing strategy The standardization of product offerings and marketing interactions is extremely important for the multinational c ompanies in order to increase the acceptability of the business in the eyes of their customers. As the approach of standardization helps the companies to achieve success in the business operations, the multinational companies include this approach in the international marketing strategies designed by the multinational organizations. The companies that have wide spread operations in various markets across international boundaries considers the changing trends of consumer behaviour in order to design international marketing strategies that are important for achieving successful and sustainable business operations. The experience and learning gathered by the companies in the local markets are applied to the several foreign markets where the company has expanded its operations. The companies ensure that there is no duplication of the information available to the customer on the product and service offerings of the company in different international markets. The international marketing s trategy also takes into account the activities of promotion and marketing interaction done by the executive in several foreign markets. The sequence of penetration and expansion of the business in the foreign markets are important part of the international marketing strategy (Cavusgil, 1994, p.20). The multinational companies that operate in the different foreign market are faced with situations of varying market demands and consumer behaviour

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