Page 75 - GLOBAL STRATEGIC MARKETING

China and India). Only two of the 100 largest multinationals are from
developing countries. In general (not as a rule), make where you sell.

1.11 Future strategic areas of prime importance

Looking at the future, international marketing strategy will be affected by
areas such as technology, marketing, organisational structure and control
issues. Technology is a fundamental source for developing consumer and

industrial products. Ideally, technology should be used to serve customer
needs rather than determine what products are developed. Furthermore,

with consumer products, it is incremental innovation that matters rather
than being the first to market with a new product. Companies must monitor

new product introductions by the competition and then not only match
them but also improve them.

1.12 Marketing

What aspects of international marketing strategy can improve a firm’s
performance in the marketplace? Branding, global brand development and

rapid product development are some of these. Companies have to try very
hard to develop a strong brand name because that gives them an
opportunity to charge more, gain customer loyalty and establish a good

reputation. Rapid product development ensures that the products that get
to the market before time, even if they exceed development costs by 50%,

eventually earn only 4% less than those that are on time and within budget.
Therefore, companies should pay attention to the rapid changes in the

marketing environment.

End of Unit Summary

Unit 1 is an introduction to international marketing strategy and a brief
description of its history. The unit investigated the changes in

circumstance of those countries that become wealthier than others. It
shows the development of the international market in the last four

decades. The unit breaks down the definition of international marketing