Introduction

In the business engagements, the marketing aspect is important, same as the

importance level of the business’s other aspect. The marketing aspect or department is

the one concerns on how to make the product being introduce and sell in the market.

Making a way to the market is not easy but it’s not that hard either. Maybe, it can be

considered as placed in the middle of the common business’s challenges. With the right

amount of ingredients for the marketing success, the formulation of different kind of

strategies can be recognized.

There are many kinds of organizations created such as the domestic business,

multinational business, international business, etc. The marketing strategies of these

kind of business depends on the nature of the business involvement. Therefore, the

marketing strategy should be determined from one another, especially in the different

perspective between the domestic and international markets.

From the beginning, the differences of the two markets are obvious from the

point of their market host and demand domain.

Domestic Marketing

There are four guiding principles that derives the marketing strategy

Knowledge Based Promotion: Marketing platform is to deliver the huge benefit of

products through ethically designed promotional strategies. The criteria will ensure that

a product will be promoted in the marketplace with a message that is focused,

competitively advantageous, relevant and evocative to target audience segments,

clinically supportable, and sustainable over time.

Building Loyalty: Marketers try to ensure that their product doesn’t either go out of

fashion or be entirely superseded by any alternatives. Brand loyalty is an integral part of

value adding processes in the business.

Parameters Not Formulas: There is no set formula to devising the marketing and sales

strategies. Every product should be different and respectively faces its own unique

confluence of factors influencing its performance over time. The parameters are defined

with respect to sales and market share and each of these parameters should be

reviewed as frequently as possible through external market conditions, other corporate

priorities, pricing changes, and new or revived competitors.

Meeting the Genuine need: Continuing to meet a genuine need is of crucial importance

means offering a product that deals with customer need that recognize by them for their

patients in the mainstream marketplace.

International Marketing

International marketing is a kind of marketing carried out by companies overseas

or across national borderlines. This strategy uses an extension of the techniques used

in the home country of a firm.

An effective marketing strategy is the key to developing and maintaining success.

Whether or not an organization considers itself to be global, to succeed, the company

must consider the global context it operates within. Global Marketing Strategy gives a

practical managerial orientation to the topic of international marketing in today's

complex, rapidly changing global business environment. The marketing strategy

focuses on strategically issues, including customer analysis, competitor analysis and

company analysis. After establishing the marketing strategy the gain on appreciation of
the basic strategic issues involved in segmenting markets, targeting markets and

market positioning in the international arena.

Many companies chose in doing business abroad because of the various

reasons that turned into their inspirations, goals, and objectives. However, there are

many factors to be considered before moving abroad. They must first measure the

demographic and physical environment that should be assessed in categories like

population size, growth, distribution channels, etc.

Secondly the economic environment that goes around with the income and

expenditure activities, inflation, currency stability, etc. that will contribute for the new

service or product’s success. Next is the consideration of the social and cultural

environment that encompasses a wide range of anticipations and assumptions with

regards to the culture and social differences. The fourth is the legal environment which

includes the limitations on trade and tariffs, proper documentation and import

regulations. And lastly, is the political environment which the government’s system is

included. Part of it is the stability of the political aspect, ideology and economic

priorities.

Venturing into a new market

Abstract:
Purpose – Managers need research-based guidance on how to find sources of new growth when
their core business is maturing.

Design/methodology/approach – Authors shadowed managers responsible for finding and

entering new businesses, interviewing them every three or four months for an average of two
years. They surveyed over 100 corporate venturing units and corporate incubators and assembled
a database of over 50 stories of companies that had successfully developed or acquired a
significant new business. We interviewed managers in about half of these companies that had
successfully diversified and we tested our emerging hypotheses against this database.
Findings – All research indicated that managers need to assess opportunities more strategically
and be less activity driven. The authors concluded that managers were investing in too many
projects, most of which had little chance of success.

Research limitations/implications – If research is reported on in the paper this section must be

completed and should include suggestions for future research and any identified limitations in
the research process.

Practical implications – Ashridge Strategic Management Centre has developed a screening tool
– The New Businesses Traffic Lights to test opportunities before a business plan has been
developed, alongside a business plan to assess the strategic logic for the proposal, or to an
existing investment that is failing to meet its short-term targets.

Originality/value – Applying the screen to the portfolio of new business investments in most
companies will result in red lights for many projects. Not only can significant money be saved
from the “new businesses” budget, but also extra resources can be focused on improving the core
businesses.

In the idea of strategies, the international market is truly different and more

complicated that the thought of domestic markets.

Individualized Marketing Strategy: Companies that conduct international business in

several nations and also is often utilized by smaller businesses involved in only one or

two foreign markets, typically involves a comprehensive market research component

and a significant effort to tailor a product or service to each individual target market.

Under this approach, political, social, and economic factors are important components

of the marketing process.

Global Marketing Strategy - This controversial approach largely ignores differences

between nations. Instead, its proponents claim that while a business that sells its

products in the same way in every market may suffer losses in isolated instances, it will

reap compensatory savings elsewhere. It is based on the notion that consumers around

the world are growing more and more similar and that a standardized product and
 marketing mix can achieve enormous economies, especially in advertising, packing,

and distribution because they would not be changed.

Domestic vs. International

The common differences are presented below and had been summarized.

Domestic Marketing

1. Domestic marketing is marketing aimed at a single market.

2. This single market is the firm’s domestic market.

3. The firm faces only one set of competitive, economic and market issues.

International Marketing

1. International marketing goes beyond exporting and calls for direct involvement in the

local marketing environment within a given country.

2. Understanding different cultural, economic and political environments becomes

necessary for success in international markets.

Empirical Examples

There are many companies that doing business strategies in different market

types. The domestic business samples probably rise in the range of local suppliers,

meanwhile the internationally engaged business strives to keep their business growing

such as the Nike, automobile business’s, and even beauty products.

As always, the kind of business is different from the other not only because of

their business line, but also on their types of clients or customers. The objectives and

goals that they imposed from the very moment they established the business must stay

in the blood of the business to keep the funding pumping.

Conclusion

A strive to create a business is a good start to show the products and services

that an individual or an organization keeps. As a old saying goes, “everything starts in a

small step”, this quote should be retain in the business’s mind as the start of the

business cycle. It only means that the business should start in a way where the people

behind it will learn to solve problems in a small little way. People that doing the strategic

approaches, dictates the outcomes of the business, only because they assume and

formulated the various outcomes of it.