Qualities of a Successful International Marketing Strategy Essay

Qualities of a Successful International market Strategy - Essay useInternational trade dodge is rooted in an investigation of the level of world(prenominal)isation of different features of the market setting, such as variations and similarities in consumer preferences, culture, socioeconomic standing, expert standards, and so on. Therefore, it is evident that companies aspiring to compete self-madely in global markets have to develop a decisive, purposeful, and appropriately designed international marketing dodge that is derived from a comprehensive knowledge of the markets which the organisation is operating in or aiming at. The Three Qualities Global markets are an aggressive environment that demands regular monitoring and assessment. Marketing strategies should be able to adapt to the dynamic nature of global markets. Innovation is an integral success factor, not merely with regard to product and/or avail but the entire process of marketing. Value-oriented marketing and fin ancial strategies are all turning out to be vital factors in the execution of a successful international marketing strategy (Doole & Lowe, 2008). Therefore, the mission of international marketing is to guarantee that all global strategies have the strength of comprehensive analysis and knowledge and tiny assessment of what is needed to gain the most coveted competitive advantage. There are numerous essential qualities for successful international marketing strategy. But this shew focuses only on three qualities, namely, successful development of recognised local brands, strong brand extensions, and solid customer relations. First, a successful international marketing strategy is able to expand a local brand into a global brand, bringing brand strategy and value to a larger exit of countries. The most excellent case in point of an initially national brand that eventually became international is Coca-Cola. In 1902, Coca-Cola decided to go beyond the unify States. It was able to pe netrate the market of 76 nations by 1929 (Hill & Jones, 2012, p. 286). During the Second World War, the company already has 63 factories across the globe. Its international expansion carried on after the war, motivated partly by the assumption that the U.S. market would sooner or later mature and by the belief that massive prospects for growth rest afield (Hill & Jones, 2012, p. 286). Until the 1980s, Coca-Colas marketing strategy may most appropriately be described as a localisation strategy. Local marketing activities were given a high level of autonomy to handle their own activities. But everything changed when Roberto Goizueta became the companys chief executive in 1981. He restored focus on the tip brands of Coca-Cola, which were expanded with the launching of Cherry Coke, Diet Coke, and others (Doole & Lowe, 2008, p. 8). His main assumption was that the major dissimilarity between the global markets and the United States was the lower consumption level of the global markets. Goizueta transformed the company into a global one, consolidating much of the marketing operations and management at the companys head office in Atlanta, placing accent on major brands. This wholesale strategy was based on standardisation by, for instance, employing the same marketing strategy across the globe (Hill & Jones, 2012, p. 286). However, this wholesale marketing strategy eventually became