There is no ideal marketing strategy as different marketing strategies may be adopted by different firms entering the same market, or the same firm entering different markets. Discuss why this is the case and support your answer with theory and examples.
There are numerous ways which can be adopted by the companies for entering into different markets of different countries worldwide. There is no one marketing entry strategy which works in the same manner for all the companies. In some markets, direct exporting work well for the business while in other joint venture would be successful. There are numerous elements which affect the choice of the marketing entry strategy by any company (Kotler and Armstrong, 2010). Therefore, the right approach is adopted by the companies either entering the same market or different markets.
The international marketing entry strategy means the planning and application of the goods and services in the new international market are called as the international marketing entry strategy. In the same light, it has few companies which do not require much planning and are enable to expand in the new international market (Paliwoda and Thomas, 2013). However, there are other companies which require multiple factors for getting settled in the new marketing space.
In addition, these two market entry strategies namely, the waterfall strategy and the sprinkler strategy. In the former strategy, the business is enabling to expand into the international market by following the sequence of events. This consists of estimating the market potential, creating the brand awareness and so on. In the latter strategy, the business involves into more risky strategic framework and Product skimming strategy is used. Form both the strategies the former market entry strategy is less risky for the business and they prefer adopting the same (Hill, Cronk and Wickramasekera, 2013).
Hence, this discussion proves that there cannot be one marketing entry strategy which can be adopted by the companies in the international market.
Evaluate and discuss the notion that social and cultural considerations are at heart of international marketing and how this may influence consumer behavior. Use relevant theory and examples to support your answer.
Social and cultural characteristics are essential when devising the marketing strategies by the companies. This is because there is diverse population and different people view the brand with different perception (Lee and Kotler, 2011). The consumer behavior is affected by numerous factors in the service industry. The objective of the companies is to sell their products and services to the customers, and in order to do so, they make efforts to ensure that their target customers buy the products from their company. The analysis of the culture is very difficult, but the companies would adopt Hofstede’s model for classifying the cultural dimension of the people.