Marketing Management Strategies Analysis Essay Example | Topics and Well Written Essays - 4750 words

Marketing Management Strategies Analysis - Essay Example Multi-domestic strategy is often pursued by food, beverage, clothing and fashion industries where a country by countryapproach is undertaken to satisfy the tastes and needs, laws and regulations of particular markets. The concept of multi-domestic strategy is mainly of ‘we were successful in the home market, lets export the management talent and processes, not necessarily the product, to accommodate another market’ (Cavusgil, Knight, & Riesenberger 2007, Chapter 11)FeaturesMulti-domestic strategy is most suited for franchises, subsidiaries and joint venture type businesses. The multi-domestic strategy has decentralized authority with substantialautonomy at each business. Using a multi-domestic strategy means that the organization is accommodating the local needs and tastes of each individual country, hence producing a customized product for each of its different markets. Control and authority is de-centralized to each of the different locations in order to facilitate dec ision making based on the local needs and requirements.This strategy is most useful when large differences are evident between countries such as cultural, language, religious and major ethnic differences. A multi-domestic strategy value chain means that each of the functions of Research and Development, Marketing and Distribution will be done at a local level in each country. Each of the country managers is highly independent entrepreneurswho enjoy their room for autonomy and responsibility and do not have much incentive. to share their knowledge and tactics with managers elsewhere. The managers recognize and emphasize the market differences that vary from country to country and are often allowed subsidies by the internationalizing company to vary products, services and business functions to meet the needs of the individual markets specifically. Competition varies on a country to country basis and each subsidiary country has its own set of competitor firms. Industries that havecompetition on a country