Answer to Question #166700 in Marketing for Sunny

Question

Companies that operate in one or more foreign markets must decide how much if at all to adapt their strategies to local conditions. Explain how companies adapt their marketing strategies and mixes for international markets.

Answer 1

A business marketing strategy is significant for a company to fit modern market demands, suit regional tastes and meet unique market needs. Besides, the variation between companies and the emerging markets in the external environment makes the difference in international business marketing strategy and influences the company’s performance. Thus, companies analyze the external environment and institutional factors as a way of improving the international business marketing strategy. Also forming a joint venture is a way of boosting a company’s marketing strategy for instance the case of the Coca-Cola Company, first produced, distributed, and sold in Turkey, later it formed a joint venture with Turkey’s Anadolu Group. Majorly, local companies are adopting different marketing strategies to get a competitive benefit in foreign markets