Turkey International Business Strategy

Topics: Shopping mall, Retailing, Investment Pages: 7 (2509 words) Published: May 10, 2014
Table of Content

1. Introduction
2. Understanding of International Business Strategy
3. Insight about International Retailing in Turkey
4. Economic Situation
5. Rules and Regulation
6. Employment
7. Geography
8. Socio Cultural
9. Mode of entry
10. Demographics
11. Conclusion

Over the years Turkey has become an important centre for international business trading especially clothing in retail sector is a booming industry. Clothing is today one of the most competent sectors in Turkey retail industry which is dominated by large number of international brands. The main purpose of this paper is to understand the Indian clothing retail expansion strategy in Turkey and its success. The scope of the paper is to analyze the current industry trends in terms of clothing retail and understand is it advantageous for foreign apparel retailers to settle down in Turkey in terms of profits and revenue. The study conducted highlights on the various marketing strategies which are essential for companies to adopt while going global. The various sections in the paper throw light on economic, political, socio cultural analysis which plays a crucial role in the success of a foreign company expansion in Turkey. The chosen industry for this paper is Indian fashion retail which plans to expand business in Turkey. International Business Strategy

For international business expansion, the designing and development of strategy is significant to understand the market in international context. The business firms expanding abroad often face issues such as local adaptation for a long term survival in the economy. The international business strategy is a plan which undertakes wider research on various elements such as market trend, comparing host country with home country, analyzing the marketing environment and how to achieve sustainable competitive development. Expansion in international countries is not just a mode of entry rather it requires a complete understanding of the market, understand marketing trends, consumer behaviour and attitude, economic conditions, political relations which determine the success of the company internationally. Though globalization has widened the scope of internationalization but still many companies fail to generate the desired rate of return and investment. The reason lies in the fact that many companies fail to understand the market before they start operating. The strategist failure to understand the consumer behaviour, neglecting cultural factors and economic situation often result in a number of problems for the company expanding globally. The best example to quote in international business strategy is McDonalds which is a worldwide chain and has global recognition. McDonalds has successfully made its way in international locations and has been successfully able to generate the revenue. The reason lies in the fact that McDonald with food as their key product was localized to suit the consumer needs. McDonalds has a standardized service but their menu is by large localized. This means that their menu differs from country to country and is solely based on the consumer taste and preference. The expansion strategy was carefully designed understanding the local market and tailoring the product and service based on customer taste and preference. Today the reason why McDonalds is a perfect example to quote in International business strategy is because they have been able to adapt the menu, store layout, packaging of food and introduce promotions after understanding the consumer market and their behaviour. For Indian retail company expansion in Turkey, it is extremely important for them to understand the marketing trend, consumer preference for fashion, understand geographic spread, cultural difference between the nationals and means to enter the market so as to minimise risk and control costs. Insight about International Retailing in Turkey

As the...

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