firms need global orientation even to survive the domestic market
Answers
Answer:
Market –oriented firms focus on Customers. ... Rather than trying to get your customers to like or become aware of the benefits of your products or services, with the marketing orientation approach you tailor them to meet the demands of customers
Answer:
"FIRM NEED GLOBAL ORIENTATION EVEN TO SURVIVE THE DOMESTIC MARKET:"
Explanation:
INTRODUCTION:
A firm can survive if they know well about the global orientation in the market. This global orientation is needed even to survive the domestic market.
The reason for "Firm need global orientation even to survive the domestic market" are discussed below.
GLOBAL ORIENTATION:
Global orientation refers to the operations by which a company acts as if all the company's markets which were established in the company's scope of market are well oriented as a single global market, in which they are standardizing the marketing mix where they are working as culturally feasible and cost effective.
It is likely to affect the strategic objectives, execution of export strategies and it is the factor for every business or firm's success.
The reason for survive of Domestic market because of global orientation are:
Managing the value adding activities
Total Quality Management
Innovation and time to Market.
Commitment to domestic markets
Domestic market venturesomeness
Domestic market responsiveness and customer orientation
Use of advanced communication technologies
MANAGING THE VALUE ADDING ACTIVITIES:
A company's value chain will help the people to know about the strength and weakness of the company.
It is an network of activities connected by the linkages.
This global orientation had a soul-searching process which will help the companies to alter their traditional activities into fundamental activities. These activities are rearranged in search for great value for customers.
This global orientation will help to manage the value adding activities which makes the domestic markets to survive better.
TOTAL QUALITY MANAGEMENT:
Total quality management refers to the philosophy which empasizes customer service and employee network to provide better product service.
The global orientation will help to gather information of all the domestic and International markets which makes the domestic markets to get succeed in the world.
So the firm needs global orientation about the markets to get successful.
INNOVATIONS AND TIME TO MARKET:
To sustain competitive advantages, the firm should produce innovation products and generate innovation activities to serve better in the market.
They will attempt to New discoveries because of New technologies, Shifting buyer needs, New industry segments, Changing input cost and Government regulations.
The global orientation will help to gain knowledge about the other companies strategies and International level strategies to discover a new product and it will take the product into a market.
So this was also a factor for the success of domestic markets.
COMMITMENT TO DOMESTIC MARKETS:
The state of commitment of resources, personal and information gathering, to achieve domestic market goals has found to be significant factor in explaining about the domestic markets.
Domestic market commitment may be a significant factor in explaining about why some companies become global, even in a short period of time.
So the global orienation will help to gather information within a short period of time about the details of domestic markets.
DOMESTIC MARKET VENTURESOMENESS:
This cocept will help the managers to know about the orientation in International markets which can be used for domestic markets orientation.
Entrepreneurial managers had tend to engage in proactive visionary behaviours in order to achieve the strategic objective in Domestic markets.
The managers of highly global firms with good entrepreneurial orientation will found to be more inclined to leadership in quality and marketing specialization.
So this was one of the reason for global orientation needed to survive for the domestic markets.
DOMESTIC MARKET RESPONSIVENESS AND CUSTOMER ORIENTATION:
This concept will help the manager to know well about the strong domestic market orientation which is reflected by strong affinity.
This types of managers will have strong relationships with the customer relationships and help the firms to succeed in the market.
They will be more responsible and sensitive to the customers which attract the customers to stay as a customer in their firm.
This customer orientation will have both in local and very big companies.
This was also a factor for global orientation to survivr for domestic market
USE OF ADVANCED COMMUNICATION TECHNOLOGIES:
The development of communication technologies like e-mail, Internet, fax had helped the firms to transfer more information and collect more information from the global level and it is useful for the company
CONCLUSION:
These are the reasons for the firm which they need global orientation even for the domestic markets in the country to survive.
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