Define objectives before zeroing in on a market

Our Bureau Hyderabad | Updated on November 15, 2017 Published on January 13, 2012

Mr. A. Ramesh, Co-founder & Chief Gaming Officer, Kreeda Games India Private Limited speaking on "International Marketing" at St. Paul's College, Turkayamjal, Sagar Road, Hyderabad in the Business Line Club sponsored by TATA Photon +

Global competition is intensifying, especially in the business arena. More so as the world shrinks rapidly with the advent of faster communication, transport and financial flows, observed Mr A. Ramesh, co-founder of Kreeda Game India Pvt Ltd.

Delivering a Business Line club lecture at St Paul's College of Management and Information Technology, presented by Tata DoCoMo Photon Plus, Mr Ramesh said career prospects in international business development are bound to improve.

The areas to look for are software outsourcing management, export-import management, marketing, brand management, key account management, finance or forex management, compliance management and logistics management.

Referring to international marketing, Mr Ramesh said corporates need to define their objectives and policies before deciding which market to enter.

Then, they should decide on the suitable programme which depends on the “standardised marketing mix”.

This involves selling the same products and using the same marketing approaches worldwide.

The second option is to go in for the “adapted marketing mix” which involves adjusting to each target market, bearing more costs but hoping for a larger market share and returns.

Global marketing organisation will be decided depending on “organising an export department” and “creating international divisions” like geographical organisations, world product groups and international subsidiaries.

Referring to global pricing strategies, Mr Ramesh said companies face many problems in setting their international prices.

He suggested strategies that include charging a uniform price globally, charging according to consumers' paying capacity in each country and use a standard mark-up of costs everywhere.

He said a student can achieve great heights if he uses his knowledge according to changes in the international markets.

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Published on January 13, 2012
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