Global marketing strategies: more than one, diverse markets and workforces
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Why would a company choose a particular market strategy over another? Can a company have more than one strategy? Why or why not? In formulating the answer you may also want to consider why a company might change it's market entry strategy over time or whether certain countries demand particularly market entry strategies. How do you you manage diverse workforces in different countries to achieve maximum productivity? What would some of your primary concerns be in managing the workforce?
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In 1021 word solution, the reponse is very thorough and each question is answered separately.
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Why a company chooses a particular market strategy over another because after market researches and analysis the company found the best strategy for them to achieve highest profitability.
Researches and Analysis including:
*An industry description and outlook
*Target market information
*Market test results;
*Lead times;
*And, an evaluation of your competition:
- SWOT analysis
- PEST Analysis
The Company may also want to look into Regulatory Restrictions before deciding upon their marketing strategy and plan. Once they have the results from the analysis, the Company will know by what means and how they can achieve a better position in the market, and they will choose the one which leads to higher profit, better positioning, larger market share or more efficient penetration etc.
Then can a company have more than one strategy? In fact, it's more about whether or not a company should have more than one strategy at one time (because of course they have can more than one strategy if they want!) however it's important to have a well focused marketing strategy.
As strategy determines the direction and the broad principles that will govern how the business is operated, if a company have more than one strategy in one time, it will be very difficult for the employee or even management to know where exactly they want to go, where they want to be and by how, because every strategy got differs in terms of directions, things they want to achieve, and the resources involved etc. A company should know how to say No to intriguing ...
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