International Marketing Management Master Assignment

International Marketing Management Master - Assignment Example We employed the triangulation method to check the consistency of the data set in the available literature, by conducting random interviews with at least 10 cellular phone users ranging in age from 7 to 18. From the critical analysis of the relevant literature and the one-on-one interviews, we drew the conclusion that: 1) parents generally influence the youth's purchasing decisions at an early age, and young people begin to make such decisions only upon earning their own money; 2) the SWOT-and-PESTLE approach popularized in UK is useful in international marketing, 3) the youth are partial to mobile phones with state-of-the-art features, 4) branding and product differentiation are key to success, and 5) the firm must go out of its way to understand the dynamics of other cultures. In assessing the potential for a successful incursion into the international market, this report examines the international marketing environment and the challenges it is likely to impose upon the resources, corporate structure and culture of a European telecommunications firm apparently embarking on business globalization for the first time. Consequently, the study covers the areas relevant to this specialized marketing activity, including the strategies appropriate for homebred firms that have decided to go international, the choice of markets that are easier and less costly to penetrate in terms of cultural barriers, and what entry modes are advisable for a certain country or region. Section 2, which is the body of the paper, also evaluates the options on whether to standardize the mobile phone primed for international marketing, or differentiate and adapt it to the characteristics of the particular target market. More important, it provides a demographic profile of the youth mar ket as to consumer tastes and preferences, purchasing decisions, buying motivations and peer influences. To collect these data, 10 young people aged 7 to 18 who carry mobile phones around were interviewed, and asked the relevant questions. The conclusion in Section 3 and the recommendations laid out in Section 4 are based on these person-to-person interviews, as well as the critical analysis of selected literature on international marketing management. 2. Findings, Analysis & Discussion The decision of Company-A to go out of its home base in Western Europe and locate a production plant in Malaysia for the mobile phone venture is by itself a well-taken international marketing strategy. Compared to Europe, Malaysia is a lower wage area and manufacturing the mobile phone project in this part of the world would enable Company-A to cut on production costs. The firm can then sell the phone in rich markets for bigger profit (Jones, 1999). A firm is considered ripe for an international venture when it has cultivated exchange relationships with individuals or organizations beyond its national boundaries. The decision to do business overseas is usually influenced either by the domestic or global