Discuss the benefits to an MNC of accepting the global market concept. Explain the three points that define a global approach to international marketing.
The key objectives of multinational companies are the disciplines enforced by the business procedures. When the companies have planned, they have the outline for studying marketing issues and the prospects as well as a base for synchronization of information from various countries perspectives. The process of planning by the MNCs is vital as the plan must consider the account. “1. Define companies’ objectives and resources. May need to change objectives for a foreign market, must reconcile differences. 2. Must decide if ready for a level of commitment regarding money, the amount of personnel, and determination to stay in the market long enough to receive return on investments 3. Planning is essential to success.”