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International marketing mix: sustainable operation management - Essay Example

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[Sustainable Operation Management] By Insert Your Name Presented to Course Institution Name, Location Date Due Introduction Foreign sales and markets play an important role in the operation of multinational companies. This is notable in companies from various countries of origin focusing on adopting effective strategies in their foreign marketing (Wang 2008)…
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International marketing mix: sustainable operation management
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Download file to see previous pages Therefore a single study is required in order to understand the importance of each marketing mix elements in the context of standardization in foreign marketing. The key major focus is the strategies the multinational corporations are using in their international marketing (Shlomo 2010). It is important for multinational companies to determine the possibility, desirability and necessity of standardizing its marketing mix in the new target markets. This is influenced by the change in the origin and the destination markets international environments and its aspects. The degree and extent of standardization is evident in various multinational companies notably Agatha in France. Company overview Agatha was established in 1974 emerging to being a key major French brand of fashion jewelry. The founder developed this brand bridging the gap between luxury boutiques and nondescript lackluster chain stores. In the current corporate world, this brand is widely known attributed to its expansion into international markets establishing its stores in various countries. This company is an international player in the field of jewelry but its major market is in its country of origin France. The company has focused on considering new international markets expansion majorly Asian market which has emerged to be top strategic priority (Leontiades 1998). South Korea is one of the new target market destinations and the key major issues with standardization in this market are the cultural differences and establishing the new internal organization (Shlomo 2010). To determine the extent and degree of standardization in this market can be determined by evaluating the company marketing mix adopted in South Korea. Agatha marketing mix can be evaluated as follows. Agatha’s product brand in South Korea Agatha’s has to major range of products comprising of top-of- the –range products made in silver and bottom-of-the-range products mainly fashion jewels made with non-precious materials. These products ranges under the Agatha’s brand are bracelets, earrings, hair accessories and rings. This range of products is standardized and design in its international bases (Wang 2008). Therefore Agatha has nearly all the same products in all of its international markets. It is notable that most of the customers in the international markets widely accept this foundation standardization collection of this company (Rugimbana 2003). However in South Korea the company has to change the sizes of these products thus limiting standardization strategy. According to Blomstermo (2006) higher degree of standardization is higher for industrial goods in the international markets as compared to consumer products and services (Blomstermo 2006). Agatha’s products are considered consumer goods and this follows that standardization in Korean market is low because the country market segments culture has to be considered. According to Sak Onkvisit, (2008) companies require more knowledge regarding the foreign market in order to determine the appropriate standardization levels (Sak Onkvisit, 2008. He further asserts that successful multi national companies has to satisfy the consumer preference, wants and needs more than their competitors. Therefore ascribing from this Agatha has to ...Download file to see next pagesRead More
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