FORMATION OF THE MARKETING STRATEGY OF AN INTERNATIONAL COMPANY: INNOVATIVENESS, RISK-ORIENTATION
DOI:
https://doi.org/10.56197/2786-5827/2024-3-1-7Keywords:
marketing strategies, international companies, consumer value, risk, competition, competitive advantage, innovative product, risk marketing, marginal utilityAbstract
Introduction. Today, the world market is becoming more and more globalized and digitalized. The process of formation of the newest society, which has received the name - "information society", is almost completed today. The process of companies entering international markets has been transformed and digitally visualized, which also proves the formation of the digital economy and the increasing use of digital tools in all processes of social life. The formation of the marketing strategy of an international company usually includes several key aspects, including innovation and risk-orientation. The purpose of the presented work is to determine the key aspects of creating a marketing strategy of an international company with a focus on innovation and risk-orientation.
Materials and methods. The theoretical basis of the research is the work of leading experts in the field of economics, management, marketing and international economic relations. This allows us to draw conclusions about the relevance and timeliness of the presented research. The main methods of research are: analysis and synthesis to determine the key aspects of the formation of the marketing strategy of an international company, methods of deduction and induction to establish the importance for the formation of the strategy of such components as innovativeness and risk-orientation, the method of comparison, graphical and tabular methods that allow displaying main research results and systematize materials.
Results and discussion. Thus, the main results of the work include the following: an international company must analyze markets and technologies to identify new opportunities and trends; the marketing strategy should be aimed at communicating the innovative image of the company and its products to attract the attention of customers; the company can establish partnerships with other innovative organizations for joint development and implementation of new ideas; an international company must conduct a deep analysis of risks associated with market conditions, political factors, currency fluctuations, etc.
Conclusions. The main goal of forming the marketing strategy of an international company is to increase competitiveness, develop new markets and ensure stable growth while minimizing risks. Based on research, the company can create new products or modify existing ones in order to meet the needs of international markets, the risk-oriented strategy involves the diversity of the product portfolio, geographical distribution and other parameters to reduce the impact of negative factors.
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