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International Marketing - Essay Example

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Running Head: International Marketing International Marketing International Marketing Introduction Vintage Wines is one of the most well known and emerging brands of Indian wine market which have been able to capture a significant portion of the Indian wine market…
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Download file to see previous pages The company has considered domestic expansion since India is home to more than 1 billion people making it the most populous country in the world but the same would not be a sustainable and long-term solution since the competitors are most likely to follow the company. Vintages Wines has the potential to expand in the international market, which would benefit the firm in many ways. First, it would allow the company the company to widen its customer base, which would in turn lead to greater revenues and profits. Second, conducting businesses in a foreign country and home country at the same time would make Vintage Wines absorbent to regional shocks (Kotler, Keller, Brady, Goodman, & Hansen, pp. 384-386, 2009). Third, it would allow the firm to apply the already known tips and tricks in the foreign market and in turn learn new experiences from the foreign market, which could be used to maximize revenue in the domestic market (Cant, Strydom & Jooste, pp. 104-105, 2009). After considering various aspects of business such as economy, purchasing power of customers, customer perception about wine, culture, growth of business, government legislation and others, United States was chosen as the market to enter. This paper is an attempt to explore the various aspects of expansion of Vintage Wines into the US market. ...
52-58, 2009). are the four broadly defined market entry methods. Furthermore, the factors, which influence the market entry methods, are the speed of entry, level of involvement and control, level of risk, investment, and market costs and level of return (Armstrong, Harker, Kotler, & Brennan, pp. 52-58, 2009). Each of the market entry method has its own pros and cons and none of them is the best for every firm and every situation. Each firm would look into its resources, market, situation, and other variables to find out the “best fit” (Czinkota & Ronkainen, pp. 74-78, 2007). Considering the case of Vintage Wines and its entry into the United States, it appears that the option Joint ventures and strategic alliance would be the best option for Vintage Wines to enter into the United States market. This option lies between the two extremes of exporting and full acquisition (Cateora, Cateora, Gilly, Gilly & Graham, pp. 320-325, 2010). The former option minimizes the risk and investment costs but at the same time, it gives minimal control, returns, and is not a long-term option. Moreover, the later option has the potential of high and long-term returns with more control and involvement in the business but at the same time it increases the risk, time required for entry, investment, and market costs (Cant, Strydom & Jooste, pp. 104-105, 2009). Nevertheless, the option of forming as joint ownership or strategic alliance with an already existing wine manufacturing company in the United States lies in between of the extremes and is a moderate option. Joint ownership or partnership would allow the Vintage Wines to enter in the US market with moderate investment and factors such as speed on ...Download file to see next pagesRead More
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