Introduction and Background
International marketing is a critical area of concern for most businesses due to its potential impact on organizational performance and profitability. The chosen product is a premium jewelry brand, and the research problem is the necessity of introducing merchandise globally to maximize profits. Consequently, the objectives include the identification of the research steps and the collection of valuable data to ensure the international response to the product.
Discussion
Credible information for the study can be found through search engines and analyzing the history of established brands. It is critical to examine both the academic body of knowledge on the topic and case studies to determine the most appropriate strategy (Katsikeas et al., 2020). The costs of the research include the potential expenses on article accessibility and time efforts. Consequently, the primary sources include data from international jewelry brands, such as Tiffany & Co, while the secondary sources concern academic articles (“The world of Tiffany,” 2023). Lastly, it is critical to analyze the results to determine the most appropriate international marketing strategy and convey the outcomes to stakeholders via summaries and visually-appealing presentations.
Nestlé and Unilever
Nestlé and Unilever have slightly different international marketing strategies and products. The former focuses on the collaboration between global teams and local communities to create “value for both society and shareholders” (“Pursuing our value,” 2023, para. 10). Unilever strives for the dominant position in the international market, positioning itself as the “global leader in sustainable business” and facilitating the process via extensive e-commerce (“Our strategy,” 2023, para. 5). Hence, the two companies have slightly different approaches to marketing on the global scale.
Conclusion
In summary, international marketing is critical for businesses, particularly for those that might benefit from product and service expansion. While this approach is not practical for every organization, the companies that operate in the premium jewelry market need to cover multiple regions for optimal profits due to a limited targeted demographic. To achieve this goal, research and development (R&D) of international marketing strategies is necessary.
References
Katsikeas, C., Leonidou, L., & Zeriti, A. (2020). Revisiting international marketing strategy in a digital era: Opportunities, challenges, and research directions. International Marketing Review, 37(3), 405-424. Web.
Our strategy. (2023). Unilever. Web.
Pursuing our value-creation strategy. (2023). Nestlé. Web.
The world of Tiffany. (2023). Tiffany & Co. Web.