Being Successful in the international market is not a simple task for the businessman as it requires export marketing capabilities which can influence business at a greater pace. We all know, the international market is much more complicated and dynamic than the domestic market. Moreover, it is not a single dimensional rather it deals with multi-dimensional domains. Thus, in order to achieve sustainable growth in business and the best performance in business, export marketing capabilities and venture performance play a major role. Hire Strategic Marketing assignment writing help to get more information regarding this topic.
An organization need to find new potential markets, produce products, determining pricing strategies, perform long-term promotions for optimum sales growth, and all this can be achieved with the export marketing capabilities.
Export Marketing Capabilities and performance is based on the needs of the customers and markets knowledge, that company obtains while estimating the requirements of the customer through the orientation of the market. Morgan further explained that marketing capabilities are inimitable. Marketing capabilities include several strategies like consumer relationship, brand management, marketing sensitivity, and so forth. In this way, we can measure how much export marketing capabilities is required.
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Similar to marketing capabilities, it is required to calculate the export venture performance report of a business. Resource-view Approach and marketing capabilities approach has been used for finding export venture performance. According to Morgan (2006), Resource-based approach basically explains why the different firm use different performances techniques as each organization is having distinct capabilities and resources. This method describes the internal relationship between the organization performance report and characteristics.
When different companies use various resources, resultant effect shows on the performance. Despite having its important effects, this approach is criticized severely as it is not applicable to stable markets. In a nutshell, this model unable to explain development and sustainable development growth advantages. But in Contrast, Song et al (2007) suggest that this approach is efficient in describing how organizations should allocate its resources in a most suitable way to achieve various export competitive marketing capabilities. Whereas it is quite different as per different theories. For instance, as per Singh, 2009, this approach is directly proportional to the firm performance and mainly used in exporting research for the theoretical framework.
Dynamic Capabilities Approach
The second approach is used for the performance report is the dynamic capabilities approach. This approach exactly describes the reason why any company is not successful in building competitive strategies in the long run. This approach helps to tackle changing needs in the marketplace and developing various techniques according to the needs of dynamic markets. This approach is innovative especially when the demands and requirements of companies are not static. With the rapid change in technologies, massive changes are appearing which will lead to increasing export capabilities. This method enables a company to take new strategies, and ventures which will help to maintain sustainable growth with increased responsiveness and agility.
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