FEATURES OF INTERNATIONAL COMPANY’S
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CURRENT ISSUES OF SCIENCE AND INTEGRATED TECHNOLOGIES
Market segmentation allows use also certain knowledge about sectors of the market for correct forming the budget of marketing.
The segmentation can be based on demographic factors (age, profession, profession, nationality), geographical feature (region, city, district). Segmentation can be carried out according to the «usefulness» of goods, that is to say depending on the requirements of the consumer to the goods, as well as according to other characteristics.
In accordance with the segmentation, the choices of target international markets are made, i.e. those sections, on which international firm will focus its main efforts.
Such markets must have sufficient capacity, opportunities for further growth, minimal or even zero competition and be characterized by unmet needs that the firm can satisfy.
Following step to the marketing strategy development is the choice of means of entering the firm on the international market. Such means exist a little. These include the acquisition of shares of company that engages in the production of products in which the company has shown interest. It is the easiest and fastest, but requires significant investment.
The second means is development by the expense of own and loan sources. This path is the thorniest and is characterized by significant variability in financial costs.
However, it is most in line with the spirit of entrepreneurship and is therefore the most common.
The third means – cooperation with other firms – is attractive because it creates the possibility of mutual complementarity of resources, ideas, experience, and in case of unfavourable conditions, the possible losses are shared among all international partners.
Last element of the marketing strategy is the choice of time of entering the market. To introduce the goods on the market it is necessary when the market in the maximum degree is ready to it.
You should not enter the market with a new product in a period of unfavourable conditions.
If the marketing strategy is based on forecasting long-term prospects for changes in markets and buyers, the tactics – reflects the economic situation in the market in relation to the existing range of products of the firm.
Marketing tactics is developed on the nearest year or one and a half. Thus it regularly is exposed to audit and to updating. Marketing tactics solves following problems: organization of trade, organization of advertising, sales promotion in accordance with the life cycle of the product, etc.
Without the organisation of effective system of goods turnover the buyer cannot in necessary time and in a proper place to receive the desirable goods so, and the commercial result of work of firm will be bad. In the same way, without timely advertising the information on the goods (its properties, quality) will not reach the potential buyer and will not render influence on goods acquisition.
Usually in the company’s development plan following elements of the marketing strategy are considered [3]:
– goods distribution;
– advertising;
– promotion.
Possible basic point of consideration of the marketing strategy is the description of the mechanism and means that business is going to use to realize the ideas and to achieve success. It is necessary to prove use of the concrete scheme of sales: the organisation of own service of sales, use of institute of dealers, attraction of distributors, formation of a network of intermediaries.
This part of the plan should be written in the most detail. The depth of consideration of issues may come to the indication of specific firms and sellers and carriers who will perform the functions of promoting goods on the international market.
At the very least, you have to provide your own evidence of the principles of selection of sellers, possible incentives, the amount of remuneration and more. In the case of using its own sales service, evidence of a sufficient level of qualification of its employees is provided.
In many cases advertising and public relations play an important role in aspiration of the international company to provide sales. Business intention in this area should lay out most conceptually with reduction of the basic proofs about expediency of a choice of this or that source of communication with consumers.
When describing a marketing strategy, keep in mind that the condition for writing this part of the plan is not only to give the investor an impression of the breadth of views and the possible scope of the business, but also to obtain information about the marketing budget. Sometimes, being fond the description of the desired system of product sales, it turns out that the next calculation of the costs necessary for its formation (marketing budget), their size is comparable to the possible sales volume.
As a result, you have to review your marketing strategy to make it cheaper.
Thus, the marketing budget is the sum of means which will be sufficient for realisation of marketing actions: on market research, ensuring the competitiveness of the goods, on information communication with buyers, on the organisation of goods turnover and a marketing network. These means are sometimes considerable enough, and therefore are scooped from the future incomes. Therefore, firstly, it is necessary to show to the prospective investor the necessity of expenses, and, secondly, efficiency of their use.
References:
1. Kovtunenko, К.В. (Ed.). (2018). Menedzhment zovnishnoekonomichnoi ta innovatsiinoi diialnosti (dlia mahistriv) [Management of foreign economic and innovation activities (for masters). Kyiv: «Tsentr uchbovoi literatury». (In Ukrainian).
2. Zaiets, M.A., Kovalenko, O.M. (Eds). (2012). Menedzhment dlia mahistriv [Management for masters]. Kherson: Hrin D.S. (In Ukrainian).
3. Voloshchuk, L.O., Maslennikov, Ye.I. (Eds). (2019). Innovatsiina ekonomika [Innovative economy]. Kherson: Oldi-Plius (In Ukrainian).
ECONOMY
CURRENT ISSUES OF SCIENCE AND INTEGRATED TECHNOLOGIES