International Strategic Marketing Essay Example | Topics and Well Written Essays - 4750 words

International Strategic Marketing - Essay Example As a result, the establishment of two major rail franchises that sells more than just the usual travel tour packages offered by the Virgin Company. Aside from the focus of the company on travel operations, the franchise establishments also sell entertainment materials such as magazines and music videos and DVD gadgets. There also came the establishment of the Virgin Mega stores that serve as the major mall-like establishments of the company that mostly offer materials in connection with entertainment. Aside from the many operations that the Virgin Group of Companies caters to, there are also other services that they still offer the public. The said services include balloon flights, beverages, bridal stores, cosmetics, financial services, health clubs, Internet services, mobile phone services, publishing, and a record label. (2007) As closely observed, the entire concern of the company is to provide recreation, entertainment and leisure to its clients. Hence, it could be noticed that most of its market comes from the upper level of the global economy. This directly refers to the fact that most of the clients that are able to appreciate and consume their products and accept their services are those who have the capability to pay for the amount of their business transactions. Being in the industry that holds much the competition as it is directly connected to entertainment and travel systems which is now the most in demand services in the society, how are the Virgin group of Companies able to cope up with the competition that is present in the business society How are they able to refine their strategies of market approach considering that they are considered as a multinational company that has to deal with multicultural society of workers Aside from this, as the company grows even larger and ventures to different areas of business, how are they able to keep a strong stand in the competitive pace of the global business culture These questions and more shall be answered on the chapter discussions that follow. CHAPTER 2 The Competitive Strategies of the Virgin Group (Literature Review) In business, there is always competition. According to Milton Snoeyenbos, "Competition is the essence of putting up a business and making things happen for a certain company" (1992). This is indeed true. As obviously seen today, different types of competition that naturally determines their status in the global business arena govern the global industry of business. Furthermore, Snoeyenbos adds that: "the ability of a business entity to keep up with the competition that it is supposed to have engagement with measures its capability of keeping up with the fast paced development of global trade and industries" (1992) Certainly, multinational companies, such as the Virgin Group, directly experience such competitive environment of operating in the global market. There are many companies that naturally would want to have the same 'fair share' of market especially when it comes to travel operations and entertainment. It is indeed true that to be able to survive in such a competitive world of business, a company, or a business