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International marketers need to evaluate available international segments for their potential andaction-ability to choose most viable market segments for targeting.
The strategies can be as straightforward as using existing marketing strategies, mix and tools for export on the one side, to a highly complex relationship strategy including localization, local product offerings, pricing, production and distribution with customized promotions, offers, website, social media and leadership. Internationalization and international marketing meets the needs of selected foreign countries where a company's value can be exported and there is inter-firm and firm learning, optimization and efficiency in economies of scale and scope. The firm does not need to export or enter all world markets to be considered an international marketer.
Common understanding of the market reality and destination at local and global levels is of essence. A universal insight is needed that both attracts the consumers and inspires all who work with it. Passion is needed to be ignited globally. Coordination of marketing initiatives outlining the brand's vision, mission and strategy to all is also important. Create the most economic value for your business.
without a good understanding of the target country it can go horribly wrong. your best bet is to find a partner that can help you market to local customers. So for me best strategy find a strategic alliance or local marketing agency for stepping in new market.
1.Market segmentation: dividing a market into distinct groups of buyers with different needs, characteristics, or behavior who might require separate products or marketing strategies
2.Market targeting: the process of evaluating each market's attractiveness and selecting one or more segments to enter
3.Market positioning: arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
