Before discovering how to enter the global market, we have to know some terms in tis field. Here are some of the terms used in this business, including Asia market entry strategy:
This is a marketing where all the activities in its operation extend across two or more countries.
2. Global market
This is a global-scale market which is open for all players in the market.
3. Global marketing
Global marketing is a marketing activity done by global companies who have business with same marketing strategy, products, and standards around the world.
4. Global company
This is a type of company which operates in more than one country, getting the profits, R & D, marketing, and costs incomparable to those who only operate in local markets.
Steps in Becoming a Global Marketer
Becoming a global marketer does not happen instantly, but there are some steps needed to carry this out. These steps can also be implied in Asia market entry strategy.
1. No foreign marketing
This is the initial step of becoming a global marketer, where a certain company has not carried out any efforts to market their products and/or services overseas. The products of a company are available in the international market by request from global market, getting foreign customers, or by exporter’s effort.
2. Infrequent foreign marketing
In this stage, the company stars to market their products overseas, but only in certain circumstances such as when that company has surplus of products. If the domestic market can handle the overflow of products, this step is not considered important. There is no effort to suit organizations and products to the international market.
3. Regular foreign marketing
The company already has planning to market their products overseas, whether it is done by themselves or with the help of domestic or foreign distributors. The main goal of this stage in Asia market entry strategy is to expand their reach and fulfill demands of international market.
4. Global marketing operations
In this phase, the company is already fully involved with the international market. Its activities do not only involve marketing, but also planning short and long-term operations and how to compete in the global market.
Reasons to Enter the Global Market
1. To get access to new customers
Expansion to the global market gives many potentials to increase income, long-term development, and become an established domestic company.
2. Minimizing costs and increasing competitiveness of the company
3. Capitalizing their main competence
A company can expand their competence and capability to get maximum profits in the global market.