International Market Entry and Development Essay - 2

International Market Entry and Development - Essay Example The purpose of this essay is to analyze foreign marketplaces and the strategies that must be used to penetrate US, China and other's markets. The competitive landscape has changed and the United States has to keep up with the changes worldwide. Currently the top exporter in the world is the emerging economy of China, while the U.S. is the 4th highest exporter and the top importer worldwide. Due to the amazing growth of many emerging economies companies must target these foreign nations to achieve further growth in the long term. One of the best ways to establish a strong market presence described in the essay is through the utilization of a branding strategy. A branding strategy has many benefits including the ability to charge a premium price for products and services. A company in the apparel industry that has used a branding strategy to successfully penetrate many nations worldwide is Urban Outfitters. The use of a branding strategy helps companies build up a reputation among cust omers that leaves a lasting impression on the buyers. The use of marketing is also described by the researcher and is critical to create a branding strategy. The reseacher mentiones that the top fast food restaurant in the world, McDonald’s, spends every year a $1 billion in marketing expenses to continue its branding strategy. Companies that are able to establish a brand value have a better chance to succeed in international markets. The branding strategy can be as effective in the international markets as in the domestic marketplace.