_Wk 3 Discussion Forum 2 Importing, Exporting, and Market Entry Strategies

pdf

School

University Of Arizona *

*We aren’t endorsed by this school

Course

622

Subject

Marketing

Date

Feb 20, 2024

Type

pdf

Pages

Uploaded by Slimstar302

Importing, Exporting, and Market Entry Strategies Prior to beginning this discussion, please read Chapter 8: Importing, Exporting, and Sourcing, and Chapter 9: Global Market-Entry Strategies: Licensing, Investment, and Strategic Alliances in your text. First, select one of these companies: Walmart, Dunkin’ Donuts, Starbucks, McDonald’s, or Target. In your initial post, ● Explain the strategy of direct and indirect exporting, and licensing and franchising, and how the company you selected above used these strategies when entering the global economy. ○ What prior research was conducted? ○ How well did they understand their target marketing environment? ● Analyze the export marketing strategies the companies used. ○ What decisions were made concerning product design, pricing, distribution channels, advertising, and communications—the marketing mix? ○ What lessons did they learn from their success in the global marketplace? Your initial discussion post should be 250 words. Cite your textbook and any other sources used to support your ideas. You may refer to University of Arizona Global Campus Writing Center’s APA Style Links to an external site. resource for assistance. Guided Response: Review several of your peers’ posts. Respond to at least two of your fellow students’ posts in a substantive manner. Each peer response should have a minimum of 100 words. After reviewing your peer’s post, analyze the strategies and provide examples on why this strategy is important. Support your position by using information from the week’s readings. References (Green and Keegan, 2020) Direct market representation enables decisions concerning program development, resource allocation, or price changes to be implemented unilaterally.

indirect export . (2023). https://dictionary.cambridge.org/us/dictionary/english/indirect-export Did You Know? Walmart Exports Washington Apples Around the World . (2016, February 8). Corporate - US. https://corporate.walmart.com/newsroom/business/20140416/did-you-know-walmart-exports-wa shington-apples-around-the-world#:~:text=We%20export%20a%20lot%20of,India%2C%20Chin a%20and%20the%20U.K. Reflecting on What We’ve Built: Walmart’s Global Ethics & Compliance Program . (2017, April 20). Corporate - US. https://corporate.walmart.com/global-responsibility/global-compliance-program-report-on-fiscal- year-2017 Walmart is required to apply for more than 56,000 licenses to operate our facilities outside the U.S. Walmart Commits to Sourcing $10 Billion of India-Made Goods Each Year by 2027 . (2020, December 10). Corporate - US. https://corporate.walmart.com/newsroom/2020/12/10/walmart-commits-to-sourcing-10-billion-of -india-made-goods-each-year-by-2027 Walmart is one of the top global retailers in the world, however, the effectiveness of their global marketing presence may be related to the strategies used for direct and indirect exporting, licensing and franchising. “Direct market representation enables decisions concerning program development, resource allocation, or price changes to be implemented unilaterally” (Green & Keegan, 2020), while indirect exporting is “a situation in which a company sells its products to customers in another country using an intermediary” ( Indirect Export , 2023). As a matter of fact, Walmart directly exports apples, pears and cherries from U.S. farmers and suppliers to retail markets in China, Mexico, U.K., India and Canada (2016). Walmart uses foreign buying offices located in various countries around the world that they source their supplies from to facilitate indirect exporting. In addition to direct and indirect exporting, licensing is another important aspect of global marketing, “Walmart is required to apply for more than 56,000 licenses to operate our facilities outside the U.S.” ( Reflecting on What We’ve Built: Walmart’s Global Ethics & Compliance Program , 2017). On the other hand, as of 2022 Walmart no longer can be franchised because of its shareholder composition, however, other franchise brands such as Subway and Quiznos operate within their stores. In order to determine Walmart’s target market from a global standpoint, the use of market segmentation was used. The application of segmentation variables

like demographics, psychographics and behavioral helped streamline the target market environment. Export marketing strategies can help retail giants such as Walmart maintain their competitive edge on the global market. According to Green and Keegan, instead of simply taking the domestic product "as is" and selling it to foreign customers, the export marketer views the product that is offered in the domestic market as a starting point and then modifies it as necessary to meet the preferences of the international target market (2020). Walmart intends to triple its exports of goods from India to $10 billion each year by 2027. Also they have a supplier development program with FlipKart, that facilitates the distribution, advertising and communication that covers categories such as food, apparel, pharmaceuticals and many more aspects that make up their marketing mix. The successful export marketing strategies that Walmart continues to benefit from are incorporated in order regions of the world to help meet the needs of low and middle class families.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Related Documents

IHP 510 Milestone Three.docx

Homework 1 - IDS454.docx

Joel Detamore-Final Reflection Assignment.docx

BOA Technology Case Study Notes.pdf

Wk 4 Assignment - Walmart Case Study .pdf

Wk 2 Discussion Forum 1 Outline & Post .pdf

Wk 4 Discussion Forum 1.pdf

Marketing - Case Study 3.docx

Exam 3 .docx

Entertainment MKTG Exam 1.docx

Analysis Writeup_Korrian Chotan.docx

Wk 4 Discussion Forum 2.pdf

Recommended textbooks for you

Marketing

ISBN:9780357033791

Author:Pride, William M

Publisher:South Western Educational Publishing

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

Foundations of Business (MindTap Course List)

Marketing

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:Cengage Learning

Foundations of Business - Standalone book (MindTa...

Marketing

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning