Mnc's Strategies For A 'New' Egypt - Case Study: Coca Cola - Essay Example

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Boundaries have disappeared and the world has combined into a world country with one world market. From this very concept the term global marketing has come up (Hindle, 2008, p. 1-2)…
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Mncs Strategies For A New Egypt - Case Study: Coca Cola
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Download file to see previous pages So for successful expansion of various brands and products, companies are formulating various successful marketing strategies. There are certain principles that are very important when a company opts for global market. This is because the possibilities, market condition, culture, religion, political condition and many other factors are there which differs for all countries. None of the two countries are same. The most important thing is that the people staying in these different places are different from each other. So the correct marketing mix is required for fitting into different market place and catering to different sets of people in different countries (Keegan, 2002, p. 53).
The main thing that binds the world in one string is the technology. Due to the evolution of technology round the world multinational companies as well as other small companies round the world are spreading their wings to the other nations in search of a good market, where they can flourish their business. But to plan out flawless marketing strategy for introducing the product globally, the marketer should have knowledge about the history, culture and business and economic conditions of the country. They must also have to know about the social customs and also the taboo if any prevailing in that country. If the sentiments of the people are hurt, the product becomes unacceptable in the market (Chirapanda, 2012, p. 2). Now, when we say that the world has become one market, we can also say that the economy of different countries also affects the global economy, especially the international trade. There is a lot of capital involved in international trade and commerce. Products and services costing billions of money are traded everyday among nations in the world market. So the price of currency exchange and fluctuations also affect the profit and income of the marketers in a big way. In this kind of global environment, the MNC's should centre their marketing strategies around these main dimensions: strategic integration, coordination and configuration and adaptation of standardization (Steers & Nardon, 2006, p. 6). So, firstly, the marketing strategies of the multinational company's should be not be standardised. This should be adapted. Each country is different, so the strategy to penetrate should not be same for all the countries. It should be adaptive and follow the values of the people in the country. Then we come to the second dimension, that is, configuration and coordination of the value chain of the company for different countries and lastly, the MNC's must plan strategies to compete with the regional companies of the countries (Furrer, n. d., p. 2). So keeping in mind these three dimensions, MNC's have to form combinations of target countries to offer their products. The following dimensions suggest that the MNC's should firstly focus on building an effective channel and network within the focus countries, so as to conduct the operational tasks efficiently and coordinate all the activities simultaneously. They should also focus on responding to the preferences of the people. They can focus on one specific need and cater to that to a wide number of countries and customers preferring that particular kind of Product.The Company must follow a strategy to execute all these activities (Raju., 2009, p. 83-84). Let us take the example Coca Cola. This company came into existence in the ...Download file to see next pagesRead More
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