Contemporary issues in marketing Essay Example | Topics and Well Written Essays - 4000 words

Contemporary issues in marketing - Essay ExampleAll the above phases mean that the outline to be leted should effectively put the principles of the company closer to the needs of the specific consumers that the company targets. If a company puts the above in consideration past it will definitely develop unique strategies that strive it competitive in the new market. This is addition to proper review and correction policies will determine the victor of the adapted world-wide marketing mix that Weny Trippes (fictional company) has developed. Weny Trippes has a really wide market appeal in the soft drink market in the linked States. A company such as Weny Trippes has the ability to introduce new products that meet the demands and quality requirements of its consumers faster than any other company in the topical anesthetic scene. It has better consumer need responsiveness, better innovative skills, quality products and processes as well as higher efficiency that promotes its dis parateiation advantage in the United States market. This has make the company to consider developing marketing strategies that can ensure the success of its product line in other foreign markets such as those of fundamental America, East Africa, or Northern Europe, Chinese market and the Middle East markets. Different foreign markets have opposite needs and present unique different challenges that Weny Trippes has to form effective entry and marketing strategies on how to overcome them. ... Increasing competitiveness on a global ground has forced many industries to balloon to foreign countries. Internationalisation, which is the process by virtue of which a firm moves from operating in its domestic market to international markets, has hence become an ongoing impetus in the economy. But this however may have effects that are not evident in the domestic sector especially in monetary value of coping up with a foreign environment. The international market for many products is subje ct to many dynamic influences that can lead to changes in the volume, mix and diffusion of demand and sources of competitiveness (Ofori 2000). Before this decision to venture into the market Weny Trippes only ventured the domestic market and never thought of expanding its business beyond the borders of its kinfolk country. The international penetration option for the companies is a means of expanding the profits and at the same time attempting to cash on the weakness and lack of creativity by the home companies or firms that produce similar products (Akkaya 2006). Organizations are optimally entering into newer foreign markets mainly the onset of globalisation. Globalisation is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment . This process has effects on the environment, on culture, on political systems... (Rothenberg 2002, p1). Thus, its wish to make an impression in foreign markets is further driven by the globalization. In addition, Weny Trippes has a really diverse range of soft drink products and energy drinks that it intends to develop an international marketing strategy so as to promote them in several foreign markets.