The companies go international with the objective to have an increased sales along with the huge market share. Direct Investment: Ultimately, the firms can establish their own business facilities or own a part of the local company to facilitate the sale of goods and services.Joint Ventures: The companies can go international by joining hands with other country based companies with the intention to monetize their existing relationships with the local customers.In India, TATA AIG, HDFC standard life insurance, TATA Sky are the examples of joint ventures.
MC Donalds, Dominos are the examples of franchising. In licensing, the domestic company has a less control over the licensee.īut, in the case of franchising, the domestic company enjoys the higher control as it allows the franchise to function on its behalf, and in line with the terms and conditions of the domestic company. Marketing mix forms the backbone of designing any product promotion strategies. Companies use different marketing principle to optimize the performance of the existing product or to launch a new product in the market.
#Principles of marketing definition license
Licensing and Franchising: One of the ways to globalize is through licensing, wherein the domestic company issues the license to the foreign company to use the manufacturing process trademark, patent, name of the domestic company while facilitating the sales. Marketing principle are the widely used product promotion strategies which are agreed upon by all stakeholders.internet.Through the company website, customers can read the detailed information, generally written in different languages, about the product and can order online. Global web Strategy: Nowadays, companies need not go to the international trade shows to show their products, they can very well create the awareness among the customers worldwide through an electronic media i.e.The distributors or agents in abroad working exclusively on the behalf of the company.The sales representatives traveling abroad.Through Overseas sales branch, that carries out the promotional activities and facilitates sales and distribution.By setting Domestic based Export Department, working as an independent entity.Whereas in Direct exports, the company itself manages to sell the goods and services abroad, by opting one of the following ways: In Indirect Exports, the trading companies are involved that facilitates the buying and selling of goods and services abroad, on the behalf of the companies. Exports: The easiest way to enter the market is through exports that can be indirect or direct.There are following ways through which companies can globalize: High-profit opportunities in the international market than the domestic market.
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