Qualities of a Successful International Marketing Strategy Essay

Qualities of a Successful International Marketing outline - Essay ExampleInternational marketing strategy is rooted in an investigation of the level of globalisation of different features of the market setting, such as variations and similarities in consumer preferences, culture, socioeconomic standing, technological standards, and so on. Therefore, it is evident that companies be after to compete prosperously in global markets have to develop a decisive, purposeful, and appropriately designed worldwide marketing strategy that is derived from a comprehensive knowledge of the markets which the organisation is operating in or aiming at. The trio Qualities Global markets atomic number 18 an aggressive environment that demands regular monitoring and assessment. Marketing strategies should be able to reconcile to the dynamic nature of global markets. Innovation is an integral success factor, not merely with regard to production and/or service but the entire process of marketing . Value-oriented marketing and financial strategies are all bit out to be vital factors in the execution of a successful international marketing strategy (Doole & Lowe, 2008). Therefore, the mission of international marketing is to guarantee that all global strategies have the strength of comprehensive depth psychology and knowledge and precise assessment of what is needed to gain the most coveted competitive advantage. There are numerous essential qualities for successful international marketing strategy. But this essay accentes only on terzetto qualities, namely, successful development of recognised local brands, strong brand extensions, and solid customer relations. First, a successful international marketing strategy is able to expand a local brand into a global brand, bringing brand strategy and value to a larger number of countries. The most excellent wooing in point of an initially national brand that eventually became international is Coca-Cola. In 1902, Coca-Cola decide d to go beyond the United States. It was able to penetrate the market of 76 nations by 1929 (Hill & Jones, 2012, p. 286). During the Second World War, the fraternity already has 63 factories across the globe. Its international expansion carried on after the war, motivated partly by the assumption that the U.S. market would sooner or later mature and by the belief that massive prospects for egress rest abroad (Hill & Jones, 2012, p. 286). Until the 1980s, Coca-Colas marketing strategy may most appropriately be expound as a localisation strategy. Local marketing activities were given a high level of autonomy to handle their own activities. But everything changed when Roberto Goizueta became the companys chief executive in 1981. He restored focus on the leading brands of Coca-Cola, which were expanded with the launching of Cherry Coke, Diet Coke, and others (Doole & Lowe, 2008, p. 8). His main assumption was that the major contrariety between the global markets and the United Stat es was the lower consumption level of the global markets. Goizueta transformed the company into a global one, consolidating much of the marketing operations and management at the companys head dominance in Atlanta, placing emphasis on major brands. This wholesale strategy was based on standardisation by, for instance, employing the uniform marketing strategy across the globe (Hill & Jones, 2012, p. 286). However, this wholesale marketing strategy eventually became