entering the international market
A firm must first send their R&D team to new country to learn and experience their day to day life and application of products.
Upon the information gathered a firm must decide to leave their product as is, make adjustments to accommodate the tastes and preferences of the new target market or should they generate a product specific to that target audience.
The firm must gain knowledge on consumers preceptions of their brand and products.
Next the firm must decide on how to penetrate the market. Through direct investment, joint ventures, licensing or trade.
A firm then must answer the issues of affordibility, equity and infrastructure.
Due to living condititons firms must create a unit in the balanced quanity amount to price point that would capture their target audience's attention.
Once that is decided a firm now must choose its distribution network
and how it will get to the million of customers in the rural areas.
Then the marketing
deparment takes the data collected and generates its strategy on how to gain market share.
The firm must decide what it wants to say and how to properly get the point across without any cultural conflict.
Lastly the firm must create the vision fot its global brand and make sure it aligns with the firms domestic mission.
GLOBAL
TAKEOVER
"The secret to successful communication is about saying the right thing in the right way in the right place and moment. However, the opportunities to do it right (and wrong) increase dramatically in the more complex and individualistic world."
– Sue Elms, evp/head of global brands, Millward Brown