International Marketing Essay Example | Topics and Well Written Essays - 3000 words - 8

International Marketing - Essay Example , this often calls for a market response speed coupled with flexible marketing planning and control mechanisms as these are key elements that enable a business to gain competitive advantage. A lot of companies have their roots as domestic firms concentrating on their own domestic markets before expanding their portfolio to the international level. As a company embarks on the process of internationalizing its market base, it is supposed to move from being sporadic exporters to frequent exporters before setting up its own manufacturing plant abroad. This process is often referred to as internationalization. Of concern is how a business can determine whether it has attained a global market and/or global audience. For a company such as McDonald’s India to achieve this milestone there are various strategic issues and decisions that have an impact on the efforts towards market internationalization. The strategic issues affecting the efforts towards market internationalization include: where to compete, resourcing and delivering the product or service at a competitive price in different locations across the globe, and how McDonald’s India should organize itself so as to have a grip of its international activities (Rao et al 2006). As for the company determining where best it should compete, it is dependent strategic objectives for any global strategy and sources of potential competitive advantage derivable from a global strategy. Efficiency, innovation, and risk management are the basic strategic objectives that affect the selection and configuration task. Efficiency, as part of market internationalization involves the process of carrying out all value chain activities to a required quality at the lowest cost. Innovation, learning, and adaptation is often an opportunity to learn from the different societies, cultures and markets in places where the company intends to internationalize its markets. This process often has a positive impact on the process of market