Background
Marketing entails all those activities that precipitate the knowledge on the availability of certain products and services so that appropriate levels of production can be attained in accordance to the movements in demand and supply. It may also feature the strategic movement of finished goods and services to various points of sale as dictated by demand.
Teejays bid to engage in international marketing will largely depend on the entry mode as well as choice of international market (IMEM). Hence, the management at Teejay will have to plan and strategize between competing expansions.
It is against this background that the management may be faced with tough decisions involving entry strategies in international market. To be precise, such choices significantly rely on managerial philosophy, firm resources and nature of the market that Teejay will be interested to venture in future.
In international marketing portfolio, international evolution of a firm marks the early stage of its entry mode. At this point, establishment chain and/or internationalization approach via foreign direct investment forms a sequence of entry mode from indirect export (Alvarez, 2004).
Teejay will also have to make use of both theoretical and practical approaches when entering international market. Several theories have been used to establish the entry of firms into the international market and to study internationalization of both small and large multinational and exporter firms.
Such theories include strategic behavior theory, eclectic theory, transaction cost analysis theory and resource advantage theory. When it comes to focusing efforts on international markets, Teejay’s management will have to exhibit diverse biases based on prior experiences or educational backgrounds in different countries.
Additionally, due to competition and fear of losing out to local marketers, some entrepreneurs prefer local markets (Buckley, 2002). However, research studies points out that through international expansion, the performance of small and medium-sized enterprises (SMEs) can be improved. In addition, many managers are endowed with tactic knowledge which they can use to leverage opportunities in the international market.
Competition as a challenge in international marketing
In the global market, making a new entry can be both exhilarating and fun. However, due to intensive competition and increasing uncertainty, companies that have sustainable advantage make tremendous gains in the market because they have capabilities and resources that are non-substitutable and unique that other competitors lack (Coviello & Jones, 2004).
It is imperative to mention that Teejay will have to develop some of these capabilities in order to be successful in international marketing. They will include such factors like innovative capacity, strategic flexibility, organizational learning and effective technology among others.
These capabilities can be generic within a firm, be applied broadly over a wide range of areas or organizations and be founded upon individual and management competencies. Competencies can either be general or specific. The latter competency is related to functional or cultural issues in a firm while the former deals with managerial roles or leadership in business (Crick & Spence, 2005).
On the same note, Teejay will not evade the fact that consistent provision of superior value and high quality products to customers is crucial especially when expanding into international market.
This will be determined by the firm’s ability to establish strategic business decisions as well as strategic capabilities (Dwyer, Mesak & Hsu 2005). Through these, Teejay will be in a position to deal with the challenges of competition by meeting customer satisfaction, strategic goals and increased provision of services.
Recommendations and strategies on how to counter competition
in order to counter competition as a business challenge to new market entry, Teejay will require new marketing and strategic capabilities controlled by the business whereby its resources are put into action to improve, sustain and support marketing performance (Lee et al. 2010).
It is recommendable for the company to ensure that streams of technologies are integrated for marketing. In addition, diverse marketing skills are coordinated and collective learning is practiced within the company. Over the years, competitiveness has been linked to its strategic capabilities in marketing and this has given many companies a competitive advantage over others.
Organizational behaviours at Teejay
In an organisational setting, the term organisational behaviour is used to describe the dynamics that exist between individuals and groups in a common workplace in addition to the operational nature of the organizations in question (Dwyer, Mesak & Hsu, 2005).
There are a myriad of factors that come into play whenever people interrelate, intermingle or work together in organisations. Similarly, Teejay may not be exempted from the requisite organisational behaviour.
There are several organisational behaviour issues which are significant in the day to day running of business organisations.
It is also imperative to note that the study of organisational behaviour is growing in importance bearing in mind that contemporary multinational organisations like Teejay are comprised of employees who have to work as cohesive teams in spite of their distinct cultural values and socio-economic and political backgrounds. In this essay, the pertinent organisational behavioural issues touching on Teejay is explored in detail.
Group dynamics at Teejay
The performance of small groups within Teejay Company Inc. is a key ingredient to its overall output in marketing. As an organization, its success in marketing will rely heavily on the individual output of small teams that constitute departments or divisions within it. Research studies have indicated that increased marketing practices have been directly linked to group efficacy in an organisation (Peng, 2004).
One of the most powerful ways through which groups in Teejay Company Inc. will increase their efficacy and effectiveness will be through team building exercises. It is worth mentioning that team building will be an important organizational exercise and behaviour that will highly enhance its performance.
Research studies indicates that the essence behind any team building strategy is that when employees work or pull together towards achieving a common marketing goal, it is more likely that the organisation will realize a much faster growth compared to when they pull in different directions.
Hence, the concept of team building in Teejay will be described as an organizational behaviour and practice that attempts to bring employees together as one cohesive team that works to achieve a common objective or goal in marketing.
Through team building exercises, Teejay will not only advance the leadership skills of its employees, but will also boost the morale of its staff through outings in form of retreats to conduct team building exercises. This will assist in breaking some of the barriers that exist among them that may be social, political or even personal, and which can significantly hinder the effectiveness of team work in marketing.
Management of change at Teejay
Since the establishment of Teejay, management of change in marketing practices has been a part of strategic planning by its managers. The implementation process of the proposed marketing changes in this company should be as shrewd as possible. Most importantly, consultations should be made and those who are to be affected by the changes be informed or be made integral part of the implementation process.
Teejays will be able to manage marketingl changes effectively by creating proposed changes that are pragmatic, quite reasonable, measurable and achievable.
Research studies indicates that although these elements are crucial when managing change at all levels, it should be noted that the best process of change begins from a personal and local level, then to working groups which spill their influence to the international market (MartÃnez-López, Sousa & Gázquez-Abad 2011).
However, the responsibility of managing change does not lie with employees since they are instruments of change, not architects
Motivation of employees at Teejay
Teejay Company should make certain that its employees are motivated, both intrinsically and extrinsically. Research studies indicate that in most cases, psychological aspirations precede motivation (Peng, 2004). An employee who is intrinsically motivated does not necessarily require to be impressed by external factors before working in a smart way to improve the productivity of an organisation and to perform marketing practices.
However, most employees would appreciate to be externally motivated, either by the style of leadership in place or by enhanced working conditions where job satisfaction is not an illusion but reality.
Teejay will be required to maintain a high level of motivation of employees in order to sustain better marketing performances. This will be through assigning different roles and responsibilities to employees designed in a manner that provides chances for growth, attaining set marketing goals and recognizing achievements.
Motivation by goal setting
Teejay employees can be motivated to carry out marketing through a well defined process of setting goals for the organisation. Studies have revealed that people tend to be motivated to work when there are certain goals to be achieved after a given period of time. This type of motivation is well explained by Locke’s goal setting theory.
At this point, it is undisputed that Teejay will be able to attain its short, medium and long term marketing goals once they have been set. Nevertheless, it implies that employees will only be motivated when they are part and parcel of goal setting. Moreover, each group member within the wider Teejay community should be made to visualize the importance of the marketing goals being set.
In most cases, employees will not inject an additional effort in marketing if they have no clear idea on how the set goals are going to be beneficial to the organisation. They should also derive quantifiable benefits upon achieving the goals.
Teejay is currently working on marketing strategies that require employees who are motivated, resilient and competent enough. If this target is to be met, employees working on these new marketing strategies should be motivated to input their best skill and effort.
Goal setting as a way of motivating employees comes with its own cost if it is to be successful. Firstly, there are five core principles which the management at Teejay should bear in mind for this theory to be fruitful: the set goals should be clear, challenging, demonstrate high level of task complexity, have a feedback system and also demonstrate commitment.
Conclusions
To sum up, it is imperative to note that one common feature found among winning competitors in the global market is the use of innovation and technology to achieve a competitive advantage. The commercial aspect of innovation is seen in the way businesses create products that are of non-existent value. These businesses then devise strategies that enabled them market their products.
Due to increased competition in the marketplace, these companies strive to improve their capabilities while continually upgrading their skills in marketing. Teejay should follow this path should it endeavor to venture into international marketing.
References
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Buckley, P.J. (2002). Is the international business research agenda running out of steam? Journal of International Business Studies, 33(2), 365-373.
Coviello, N.E. & Jones, M.V. (2004). Methodological issues in international entrepreneurship research. Journal of Business Venturing, 19, 485-508.
Crick, D. & Spence, M. (2005). The internationalization of ‘high performing’ UK high- tech SMEs: A study of planned and unplanned strategies. International Business Review. 14 (2), 167-185.
Dwyer, S., Mesak, H. & Hsu, M. (2005). An exploratory examination of the influence of national culture on cross- national product diffusion. Journal of International Marketing, 13(2), 1-27.
Lee R., et al. 2010. The underlying social identities of a nation’s brand. International Marketing Review 27(4): 450-465.
MartÃnez-López, F., Sousa, C. & Gázquez-Abad, J. 2011. A cultural constructivist analysis of the internet’s role in the international approximation of markets. Journal of Marketing Theory and Practice 19(1): 57-79.
Peng, M.W. (2004). Identifying the big question in international business research. Journal of International Business Studies, 35, 99-108.