Global marketing strategy - Essay Example

In the current decade international marketing has emerged as a booming platform that holds significance in daily life of customers. National boundaries or local regions are not restricted only to competitive forces. Firms operating in globalized economy can only be successful if they are responsive towards local and global market conditions. International marketing process comprises of various factors and companies need to develop strategies to encompass such factors. Skills of international marketing are an important aspect of every firm whether it is involved in different activities of exporting for the company or brand.

Globalized market place has witnessed a sudden drift in the recent years due to emergence of trading standards, practices and techniques. There are wide array of market entry barriers witnessed by firms who plan to go global. This study shall outline such barriers and even portray a clear picture regarding two different market segments. Poundland is a variety store chain of United Kingdom that sells majority items in its store outlets at £1. Stephen Smith and Dave Dodd had founded the company in 1990.

The firm presently operates in more than 450 locations and comprises of 3000 kitchen ware, healthcare, home ware and gift products. It deals in 16 categories majority of which are clearance products or do not hold a brand name. This study would highlight the international expansion of Poundland into Japan and China. The major aim of this analytical study is to determine the market conditions of a developing and developed country. Japan and China has been selected as two markets where Poundland will expand its business.

Both these countries comprise of certain opportunities for the variety store chain. In order to establish market position in a country it is essential to analyze its marketing environment. There is wide range of external forces that changes operating environment of a country. PESTEL analysis is basically