Strategic Global Marketing Plan Your work on your strategic global marketing plan is complete. You now have a plan that will implement, manage, and support

Strategic Global Marketing Plan Your work on your strategic global marketing plan is complete. You now have a plan that will implement, manage, and support a global strategy, but it is far from organized. You e-mail Deborah to inform her that you are almost ready and that the initial planning is complete. A little while later, the phone rings and you see Deborah’s name on the caller ID.

“Hi, Deborah. What’s up?” you ask.

“I’d like you to present to the advisory board next week,” Deborah says. “They are very curious about your findings and would like to know if globalization is a good opportunity for the company. The board wants to finalize their strategic plan, and this may be a key part of it.”

After you hang up, you begin thinking through the different items that you will need to cover.

As you finalize the marketing plan, complete the following:

Is globalization a good move for the company?
What is your rationale behind this decision? Synthesize analysis conducted in previous units, including strategic considerations, cultural considerations, competitive analysis and balanced scorecard.
What geographic location should be a target for global expansion?
What background information can you provide to support this decision?
How will this decision support the overall goal of growth and expansion?
How would you refute someone with the opposing perspective?

Apa in citation Running head: THE DECISION TO GO GLOBAL
The Decision to go Global
Jolynn Patsy
CTU
Unit 5 DB
3.19.19
1
THE DECISION TO GO GLOBAL
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The Decision to go Global
Global expansions can trickle in many benefits into a business. When operating on an
international scale can develop professional relationships and bring in economic benefit to a
company. Nonetheless, the decision is not a simple one; businesses should contemplate the
idea by evaluating the option by contemplating the laws, regulations, and finances required to
establish a global branch as well as the ability of the expansion to meet the goals and need of
the business. Considering the rise in competition in the domestic market, global expansion is
a necessary step for John and Deborah’s Corporation. More specifically expansion into China
is an excellent strategy for the corporation. Going global is recommended to take advantage
of the new market, cheap raw materials, and access to greater talent, the opportunity for more
investment as well as a means to increase revenue streams of the Corporation.
While John and Deborah’s Corporation has been successful in the domestic market,
the stiff competition from other retailers prioritizes the need to search for markets (Hitt, Li, &
Xu, 2016). The corporation is facing competitors who are delivering products at lower prices;
the corporation risks losing its relevance and preference if it cannot keep up with the
consumer preference for low prices. Therefore, searching for new markets will create more
areas to sell the corporation’s goods. Expanding to China and other places where possible
will enable the business to expand their clientele creating new revenue streams from the
international markets when business is not good in the domestic market. Going global will
increase the corporation income and stabilize revenues for the business.
THE DECISION TO GO GLOBAL
3
Moreover, expanding to China will grant an opportunity for cheaper raw materials
and labor reducing the cost of production and enabling the corporation to lower prices
without making losses. China is known for its opportunities for cheap raw materials and
cheap labor costs (Lillebo, 2007) hence an ideal place to outsource. Taking advantage of
these benefits will significantly reduce the cost of production in the corporation. A reduction
in the production cost will increase savings, enable the business to reduce the price of the
furniture products and regain the competitive power to compete for customers in the domestic
market. Again, savings from the reduced cost of production will increase the finances in the
business enabling it to invest in other priority areas like further expansion into other parts of
the world or increase product promotions activities like advertising to attract and retain the
loyalties of more domestic and international customers.
Global expansion also grants a business with access to a greater talent pool
(Beaverstock, 2017). The more diversified a workforce can be the more talent and abilities
are at the disposal of the business. For example, expanding to the Chinese markets will attract
Chinese employees who may be conversant with different designs for furniture diversifying
the product and brand range of the corpor foreign ation. Due to their diverse background,
they can employ their unique knowledge and skills which may not have been present in the
business opening avenue for further expansion. Further, employing Chinese workers in the
business will make the business appeal more in the market. Usually, people would prefer to
do business with their kind as they trust them better. Again, offering the local Chinese jobs
will evoke positive perceptions of the corporation hence support. Therefore going global will
introduce fresh blood and talent into the corporation as well as reap the advantages the native
employees will have to offer.
THE DECISION TO GO GLOBAL
4
On another note, expanding into China and other parts of the world will come with the
opportunities to invest in those countries. For example, the business could get a chance to
invest in an unrelated community project in the country which will diversify the income
streams. Foreign investments especially when there is a clear forecast of future profits are a
good opportunity for the business to earn additional revenue. The presence of the corporation
in those markets will ensure it monitors and takes advantage of such opportunities they arise,
raise revenue and ultimately increase the competitive power.
Conclusively, global expansion and specifically to China is a good strategy for John
and Deborah’s Corporation. The expansion will make the market place competitive by giving
the corporation more competitive stature through the benefits of the international operations.
On another note, my opinion about globalization has not changed as I viewed it as a good
strategy for any business that needs to expand its market, diversify income and increase
competitive power.
THE DECISION TO GO GLOBAL
5
References
Beaverstock, J. V. (2017, 2017). The spatial mobility of corporate knowledge: Expatriation,
global talent, and the world city. In Mobilities of Knowledge, 227-246.
Hitt, M. A., Li, D., & Xu, K. (2016). International strategy: From local to global and beyond.
Journal of World Business, 51(1), 58-73.
Lillebo, P. (2007). China’s cheap labor. Blue Ridge Journal. Retrieved from
http://www.blueridgejournal.com/brj-globalecon.htm

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