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Global strategy defines a set of actions that a company performs when it wants to expand on the worldwide market and shift from domestic level to the international one. Apart from a global strategy, a company might use a strategy of expansion on the international market through cooperation, internationalization, integration, concentration, or diversification. This way, the difference between other international expansion strategies and a global one is that the latter is more integrated and includes various methods to expand. The current essay contains a marketing plan for the company that tries to enter the global market.
Talking about the possible countries for globalization, it is essential to consider the rate of globalization of a particular nation and the demand for the products that an organization sells. According to Duffin (2020), the top-three globalized countries in the world are Switzerland, Belgium, and the Netherlands. The problem with these countries is that the local furniture industry is marked by the high rate of development and, therefore, the high standard of competition (Pisa & Pelizzari, 2019). This way, it could be suggested that the better choice for the organization is not to move to Western Europe but move in the direction of Asia instead. Therefore, Singapore, South Korea, and Hong Kong seem to be suitable options for globalization. These countries are marked by a high economic development speed and have the reputation of countries appealing for business dealing. The possible disadvantage of entering these countries might be the protectionist measures, directed against foreign companies, taken by the local governments.
Out of the three mentioned countries, the most suitable one is Hong Kong. That is so because, first of all, this country depends on international trade. Besides, the current political situation, conflicts between Hong Kong and China, and the trade war between China and the US, make Hong Kong politically valuable for American companies. In addition, in this state, there is a free-market economy and absent import tariffs and barriers. Finally, Hong Kong is a densely populated area, and this implies a greater demand for goods.
Still, one could argue against Hong Kong in favor of Switzerland. The principal argument is that this country has a stable political situation and a strong economy. This fact makes it favorable for the development of businesses since Switzerland does not expose them to shocks. What is more, it could be suggested that the competitive economy would motivate the company to develop itself and think of new strategies that could improve the quality of the produced goods. Nevertheless, it should be mentioned that the market for furniture in Western Europe is rather old, and there are giants there that could hinder newcomers’ development.
Finally, moving to the issue of areas that should be considered, it is crucial to notice that global marketing requires diversification of practices and does not imply standardization (Steenkamp, 2017). This statement means that the strategy that is successfully used at home might become useless or even unprofitable when moving to the global market. This way, I would recommend focusing on logistics. The company should decide how to transfer goods and materials, and how to deliver the purchases to overseas clients. The company that does not trade internationally has no need to worry about this aspect of doing business; however, once it becomes global, logistics’ issue acquires primary importance. The second aspect deals with the technologies of production. It means that the company should figure out which requirements for the furniture a foreign target audience has. For instance, in Asia, there is a trend for minimalism and multifunctionality. Thus, the company should examine if it should change its technology of production and customize the goods depending on the tastes and demands of the overseas audience.
References
Duffin, E. (2020). Globalization Index – top 50 countries 2019. Statista.
Pisa, C., Pelizzari, S. (2019). Country Furniture Outlook. CSIL.
Steenkamp, J. B. (2017). Global Brand Strategy. Palgrave Macmillan.
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