Choosing Target Market & Developing Marketing Mix
The two key areas of focus are choosing the target market and developing its market mix. Therefore, organization must develop some marketing strategies to utilize appropriate marketing opportunities to company’s human, physical and technical resources (Azzam et al, 2011). The following are the target market ; developing marketing mix:
• International Market Participation
This is the international market participation which means the company has operations in major world markets.
• Standardization Versus Adaptation
The second point is standardization versus adaptation which means the company has marketing mix elements that it adapts per market, where the company think international and act local thought process.
• Concentration Of Marketing Activities
The third concentration of marketing activities is where the company has a marketing mix on one or maybe only a few countries as opposed to international.
• Coordination Of Marketing Activities
When the company becomes a international marketing model, it already has a coordination of marketing activities which are planned locally at the corporate level and executed across the globe. For example, Coca-Cola which is one of the most globalized products in the world.