Globalization Marketing Strategy

Paper Summary:

Using the example of the International Corn Flake Company, the paper explores globalization marketing strategy. It looks at the strengths and weaknesses of the company's marketing strategies and the strategies' effectiveness. The paper also proposes new marketing strategies, such as adapting the product/ advertising to the foreign market.

From the Paper:

"There are a number of companies that are being recognized by and whose brand names are familiar to most of the people in every region of the world. With the span of time, the global competition is becoming more and more intense and is affecting businesses in almost every part of the world. Those domestic companies who have been doing business in a specific region for decades to concentrate in only one area of the market are now finding foreign competitors at their competition and having more market recognition because of their regional presence. Though some of the people argue that the government should protect the domestic firms through legislations but in the long term, this policy may harm the interests of the consumer because the domestic firms may not be providing a compatible product or service. The best strategy to address this issue of foreign competition is to improve the products and services at home and to expend the target markets to other foreign markets. However, it is usually advisable to cautiously make the decision of expanding into any foreign market. The risks of doing business in a foreign region are high. The reasons for such high risks are the number of challenges faced by these companies while doing business outside the U.S such as shifting borders of the countries, instability in the political and economic scene of the country, problems related to foreign exchange, corruption and pirating of company's technology."

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