Marketing strategies in the global market of goods and services

Abstract

The research of global expansion strategies is becoming increasingly relevant, which is related to the existing hypothesis that a trans­national strategy can help growing business entities reduce costs and increase efficiency by taking their business to a new global level. Confirmation or refutation of the hypothesis is the purpose of the research presented in this article. In the course of the study, the general scientific methods of analysis and synthesis, comparison, isolation, genera­lization and the resulting systematization of information were applied. It was found that the analysis of existing and potential competitors, on the way of global expansion, makes it possible  to determine market positioning, identify their successful and erroneous decisions, draw certain conclusions and realize that competitors are a source of information about the existing and potential market, and a useful research marketing tool that is proposed to be used in justifying the decision on global expansion, there is the PESTEL analysis, which is advisable to apply in each target country where business is planned. The practical implementation of global expansion strategies proves that business entities can use the above strategies simulta­neously. Global expansion is a risky step aimed at gaining additional business efficiency, increasing brand recognition, and reputational expansion, so it is not surprising that so many companies choose global growth strategies.