Tuesday, October 15, 2019
The four basic management strategies to compete internationally Essay
The four basic management strategies to compete internationally - Essay Example This research will begin with the statement that marketers have to find ways and means to identify continuous demand and match the demands with the products and services which they are best at the offering. If the demand has saturated then marketers need to identify unmet needs and demand and create demand. In fact, marketing opportunity is being able to identify unmet needs or create new demand. The globe presents a plethora of new markets with a host of unmet needs and demands and hence implying a host of opportunities. Globalizing an organizationÃ¢â¬â¢s operations can be generalized by saying that an organization seeks to enter new markets. Yet entering new markets means committing the limited resources required to produce a targeted return on the investment which could have been put to other marketing decisions each having their own return on investments, or we may also say that globalization has its opportunity cost. Thus organizations usually decide to globalize their operati ons when they foresee a sufficient profitability in assigning their limited resources to foreign market(s) higher than the expected rate of return from other marketing decisions. AnsoffÃ¢â¬â¢s grid clearly juxtaposes the decision to enter new markets with other marketing decisions. The strategies which an organization adopts to compete globally depends on many factors such as: Its objectives, competitiveness, resources, products, and services. The attractiveness of the foreign market. The cost of entering the market.