Module 4 Portfolio Assignment
Part 1. Read Chapters 12-15 of the textbook and write a 2-3 paragraph summary of your readings. Use normal mechanics, rules /guidelines, and APA formatting (template available under Course Information – Academic Resources).
Part 2. Explain the 4 P’s of Marketing in the context of a global business environment?
Instructions for Portfolio Assignment Part 2
All Portfolio assignments must be completed in at least 1-2 pages (not including title and reference page). The submission is to be double spaced using a 12-point font and will be graded based on depth and clarity. Students must use research from 2 Journal Articles for their response and APA 6/7th edition format.
SOME READINGS;
An international strategy is usually the first approach most businesses take with global expansion: exporting or importing goods and services while maintaining a head office or offices in their home country. Global expansion as a business does not have a one-size-fits-all approach. As companies grow and scale, they may choose to invest more in their target markets.
One of the biggest challenges for international businesses is driving demand and awareness in local markets. Due to the fact these businesses are less embedded in local customs or languages, it can be difficult to know how to appeal to these consumers. That is the reason the most successful international businesses invest heavily in marketing, rather than infrastructure, so they can scale without needing to be on the ground in a foreign market. With a centralized model, headquarters maintains tight control of product and branding, making it easy for one consistent message across multiple countries. As businesses expand internationally a strong localization strategy ensures that the business’ message and marketing sounds is the same across multiple markets, regardless of language this concept makes international marketing powerful.
Globalization continues to influence world economies, as reduced tariffs, enhanced communications, and increased capital mobility have allowed companies to connect to global financial markets and expand their businesses internationally. However, successful expansion into new foreign markets demands that companies adopt international business strategies that best fit their needs and capabilities. International business involves dealing with foreign stakeholders, employees, consumers, and governments, and therefore, business managers need to consider many factors when conducting business in global markets, such as competition, supply chain management and pricing strategy. In order to successfully expand their consumer base and increase profitability through internationalization, companies need to spend the necessary time and resources to understand global market opportunities and choose the proper international business strategies.
