(Briefly discussing a best- and worst-case scenario for each option.)
Global market strategy is activity of buying or selling goods and services in all the
countries of the world, or the value of the goods and services sold. I will be
discussing the two factors and their difference. 1). Multidomestic Marketing
strategy is used to describe a set of strategies used by companies that operate in
more than one country at a time, multidomestic company is a business that uses a
different approach in each of the markets it operates in. 2). Global Marketing
strategy that encompasses countries from several different regions in the world and
aims at coordinating a company’s marketing efforts in markets in those countries.
The best-case scenario for the battery production company would be Global
Marketing. Being the that product and service is sold worldwide, an owns factories
in other countries and has signed contracts with licensees or relied on joint
ventures. The Global strategy would be the best route to go and have it success and
its principles to more than one country and when a company thinks globally and
look for oversea opportunity it increases their market share and customer bases.
❖ Forming economies of scale
❖ Enhancing competitiveness
❖ Dividing risks
❖ Setting new standards for technology
❖ Entering new markets