Individual Reflective Essay Writing Assignment

Business Expansion and Internationalization Process
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Introduction
Business expansion into an entry to new market diversifies the business which creates possibilities for tremendous growth. As the business is run internationally, new opportunities are open which facilitates market expansion and physical growth of the company. There is a huge market available at the international level which requires goods and services produced by local companies. International markets have significant and profitable purchasing powers which mainly attempts many local companies to venture into them. However, internationalization of a company and entry into the new market creates new challenges which are likely to limit the growth of the company (Young et al., 1998). The company is required to develop a trustworthy management team which is capable of producing positive results for the growth at the international level. Internationalization and venturing into new markets are likely to face both internal and external challenges which may limit the company’s growth and development if not well managed and controlled as discussed herein.
International marketing and venturing into a new market at an international level is discussed at a perspective that focuses on all the factors that determine the possibility of the company to pick and run properly. Over the years, companies venturing into new markets have been failing despite the time, effort, and resources invested in the business. The marketing features for the comprehensive cases of business internationalization involves studying the potential consumers, industrial knowledge, low tech and high tech, products, and services marketing (Hollensen, 2017).
The factors that influence business expansion at a global level include global economic environment, political, legal, and regulatory environment, social and cultural environment, availability of adequate global marketing information system and research. Targeting, positioning, and segmenting the global market as well as social and cultural factors also affect business expansion. The outlined strategies for international market entry and expansion, corporation and strategies for global partnership, and the ability of the business to analyze the international market competition further influence business expansion. The business should also focus on decision-making processes on products, pricing, and physical distribution channels. Other factors that greatly determine the success of a business in a new market include advancing the global advertising strategies, product promotion facilitating direct marketing, enhancing public relation, monitoring global market effort, and proper planning, leading, and organization of employees and management as well as all the related activities. Business management and leadership are important in determining the future of the business at the new entry in the international market.
Marketing strategies of any business determine the effectiveness of a company or business in entry to a new international market. While running business activities at an international level, it is important to develop adequate knowledge and proper understanding of the market under which the bu...