A large part of the process of international marketing seeks to explore the unknown dimensions of the future which emphasizes on what would happen in the near future. Factors which influence market plan directly including suppliers, customers and competitors • Factors which influences the firm directly including social technological, legal and economic factors. For doing the international marketing, there can be the strategic advantage profile which provides for analysis of internal environment, and the organization capability profile as well.
For analyzing the external environment, competitor’s threat and opportunity profile has been adopted. An organization has to continuously grow in term of its core business and develop core competencies. Nike’s organizational vision, mission and objectives is the starting point of international marketing. The organizations strive for achieving the end results which are ‘vision’, ‘mission’, ‘purpose’, ‘objective’, ‘goals’, ‘targets’ etc. The hierarchy of strategic intent lays the foundation for the management goals of any organization. The plan intent is to make clear what an organization stands for:
Long Term Approach Identification Of Planned Alternatives The planned alternatives revolve around the point whether to continue or change the business. There are three alternatives: • Stability • Expansion • Retrenchment Stability: The company serves with same product, in same market and with the existing technology. This is possible when environment is relatively stable. Modernization, improved customer service and special facility may be adopted in stability. Expansion: This is adopted when environment demands increase in pace of activity.
Company broadens its customer groups, customer functions and the technology. These may be broadened either singly or jointly. This kind of such plan has a substantial impact on internal functioning of the organization. Retrenchment: in which the organization has to reduce its scope in terms of customer groups, customer functions or alternative technology. Correlation and Regression Methods These methods have been used to examine the relationship between past sales and one or more variables such as population, per capita income or gross national product, etc.
The use of regression analysis is done in order to determine whether any relationship exists between the past sales, and changes in one or more economic, competitive or internal variables to a company. Typical forecasting applications of these methods are sales forecasts for industrial equipments. Financial Opportunities Comparison Methods of Nike’s Market Examination: An international business can’t flourish unless the market is thoroughly analysed,the type of customers, the possibility of growth and the target market.
The needs and services of the customers are to be fulfilled to capture the market. The product price has to be competitive, on the basis of demand and cost unit pricing and working on market fluctuations. The promotional channels to be tapped, like advertising, on-line demonstration, tracking suitable customers and convincing them to purchase the product. The scheme of free delivery at the destination and also free replacement if found non- working within a certain period. Market environment will change frequently and the company has to change strategy often depending upon the demand analysis.
Research for Target Market: There need to be a correct answer as to how many individuals are marketing on internet. Whether such markets are expanding or declining or just stable. Financial Implication: The whole plan depends upon the availability of funds, the resources and the finance required carrying on the business. It all tells the time frame from when it may turn into a profit making company. The financial statement tells the financial health giving information to investors how they are going to react. Conclusion One of the most fundamental problems is the lack of a market system.
There are huge numbers of people who do not have an access to such goods. Many of these people are used to the same old system in these countries. Proper incentives should exist for entrepreneurs to produce such goods. The most basic incentive is their access to the proper knowledge being used in other countries. Marketing technology for Nike can play a major role in enabling this phase of change and introduce such goods in a big way.
1. Hitt, Michael A, (2001), International Marketing: Competitiveness and globalization, 4th ed. , Thomson Learning.
Get access to
Guarantee No Hidden