Strategic Navigation in Global Markets: Unveiling International Marketing Challenges

Abstract

In the realm of international marketing, strategic navigation proves essential as companies confront a myriad of challenges. This thesis starts from complexities surrounding global markets, shedding light on distinct facets such as psychic distance between different markets and self-reference criterion, the standardization versus adaptation dilemma, brand-name power dilution and partner selection challenges. As companies embark on the evolutionary process of entering new markets, they must navigate linguistic, cultural, and competitive disparities. Effectively addressing these challenges demands strategic foresight and adaptability in the ever-evolving global business landscape, marking a crucial aspect of successful global market engagement. Concrete examples, such as Mary Kay Cosmetics’ unique whitening products in Japanese market, IKEA’s adaptive strategies in the Chinese market and Samsung-Tesco’s commitment to overcoming brand-name power dilution in South Korean market, serve to illustrate the practical implications of these challenges.