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MBA611 International Strategy

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MBA611 International Strategy

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Course Code: MBA611
University: Ball State University

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Country: United States

Question:
You are to prepare a feasibility study for your firm considering all the market entry options for going global. You will learn in your early workshops the different entry types for firms at organisational level  and at a product level. This assessment focuses on the first, second and third learning outcomes as per the subject outline. You will then develop an infographic to showcase your strategy
Assessment Details? As a group you are to choose your own firm to analyse.? You are to prepare a global screening and feasibility analysis about going global.? You will be required to justify the reasoning for going global and identify your firm level approach.? You are to analyse (with reference to your firm’s strategic capability and your firm level choice) your product market level entry strategy. You should show the synergy of this to your firm level entry strategy.? You will assess risk, cost and environmental factors.? You will then develop your infographic as a pitch for the product entry strategy you have chosen? You are to support your feasibility analysis with secondary sources and credible references.? You should support your infographic with references, figures and tables.  
Answer:

Globalization is considered to be the one major factor that has brought about a drastic transformation in the world of business and at the same time has opened new windows of opportunities for the business enterprises (Baker 2014). However, at the same time it is seen that there are various factors that the concerned business enterprises needs to take into account for the purpose of their business in the other host countries or business markets (Stark 2015).
One of the major issues that the various business enterprises face is regarding the kind of product market strategy that they should follow regarding the products or the services that they are offering to the customers and also the ones that they should use for the process of their business in the other host countries (Flammer 2015). This report will discuss about the “product market strategy options” and will recommend the one that A2 Milk can take the help of considering the present day business scenario.
Product Market Strategy Options
            The concept of “product market strategy options” is seen as the foundation block on which the entire life cycle of a particular product depends (Lin, Tan and Geng 2013). In the present times it is generally seen that the various business leaders as well as the organizations generally design the strategies for the products or the services offered by them keeping in the target customer base on which they want to focus on and thus it is generally seen that as the target customer of the different products or the services offered by the diverse companies is different and so the strategies that they follow for the products also varies greatly (Best 2012).
            One of the most commonly used market strategy by the various business enterprises is the strategy of cost leadership. Many experts are of the viewpoint that the primary idea of the different business enterprises behind the use of this particular strategy is keep the prices of the products or the services offered by them to the customers as low as possible while at the same time providing the best quality services to the customers (Evanschitzky et al. 2012). The effective use of this particular strategy has helped the many business enterprises to achieve a significant amount of success in the recent times and it is generally attributed as one of the primary reasons for the widespread popularity that the strategy under discussion here holds in the contemporary business world (Evanschitzky et al. 2012).
            The strategy of product differentiation is another important one which is being used by the majority of the business enterprises of the present times. The major focus of this particular strategy is to provide the kind of products or services to the customers which are not only different from the ones provided by the other companies in the same geographical location but at the same time show a significant improvement over them (Ferrell and Hartline 2012). The use of strategies of cost leadership and product differentiation has helped in a significant manner different companies to gain a substantial amount of competitive leverage over their competitors.
            The strategy of multi-domestic is a product market that has gained a significant amount of importance in the context of the present day business world. The central lacuna of this particular strategy which the company A2 Milk can utilize is the fact that the various business enterprises should try to maximize the responses of the local or the domestic customers of the business market by offering the kind of products or the services that have been optimized as per the national standards of the products or the services offered by the other business enterprises operational in the other nations of the world (Morgan, Katsikeas and Vorhies 2012).
One of the most important marks of the usage of this particular strategy is the fact that in the long term the use of this particular strategy leads to the establishment of not only effective production means and marketing options but at the same time effective research and development entities as well (Morgan, Katsikeas and Vorhies 2012). The extensive usage of this particular business strategy by the various business enterprises of the world has lead to the rise of the concept of “multi-national firms” which has become important in the context of the present day business world (Stark 2015). This is something that the company under discussion here A2 Milk can take the help of. Furthermore, it is generally seen that the long term extensive usage of this particular strategy leads to the establishment of various business centers in the different nations.
In addition to this, the business enterprises are also required to optimize not only the products or the services offered by them as per the market conditions of the host nations in which they are operating but at the same time they also need to match the standard of the products or the services offered by them in those nations as per the national standards of the other nations as well (Stark 2015).
This particular strategy can also be seen as a variation of the strategy of product adaptation wherein the business enterprises try to adapt the products or the services offered by them as per the national standards of that nation and also the demands of the customers of that particular nation. It is a reflection of this particular fact that the multi-domestic strategy is one of the most widely used product market strategy options that are available to the various business enterprises of the present times. Thus, the company A2 Milk can also take the help of this particular strategy for the process of their business.
Conclusion
            To conclude, the success or the failure of a particular product or a service offered by a particular business enterprise depends on the effectiveness of the product market strategy that they are using for the promotion as well as the marketing of that particular product or the service. There are various options that are available to the diverse business enterprises of the present regarding the marketing of the products or the services offered by them. However, in the recent times it is seen that the use of the multi-domestic strategy has helped the various business enterprises to gain a significant amount a significant amount of success regarding the products or the services that they are offering to the customers.
References
Baker, M.J., 2014. Marketing strategy and management. Macmillan International Higher Education.
Best, R., 2012. Market-based management. Pearson Higher Ed.
Evanschitzky, H., Eisend, M., Calantone, R.J. and Jiang, Y., 2012. Success factors of product innovation: An updated meta?analysis. Journal of Product Innovation Management, 29, pp.21-37.
Ferrell, O.C. and Hartline, M., 2012. Marketing strategy, text and cases. Nelson Education.
Flammer, C., 2015. Does product market competition foster corporate social responsibility? Evidence from trade liberalization. Strategic Management Journal, 36(10), pp.1469-1485.
Lin, R.J., Tan, K.H. and Geng, Y., 2013. Market demand, green product innovation, and firm performance: evidence from Vietnam motorcycle industry. Journal of Cleaner Production, 40, pp.101-107.
Morgan, N.A., Katsikeas, C.S. and Vorhies, D.W., 2012. Export marketing strategy implementation, export marketing capabilities, and export venture performance. Journal of the Academy of Marketing Science, 40(2), pp.271-289.
Stark, J., 2015. Product lifecycle management. In Product Lifecycle Management (Volume 1) (pp. 1-29). Springer, Cham.

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