Competitive analysis of the marketing strategy of a russian company's entry to foreign markets

  • Nadezhda V. Kondrashova Voronezh State University
  • Elena A. Kuznetsova Voronezh State University
Keywords: retail, international competition, marketplace, online promotion, effect evaluation

Abstract

Importance: сompetitive analysis as an element of marketing strategy. Purpose: the purpose of the article is to assess the prerequisites for developing a competitive marketing strategy for a specific Russian organization to enter foreign markets. The object of the study was Officemag LLC, a leader in the integrated provision of organizations with goods for the office on the territory of the Russian Federation. The objectives of the article were: 1) emphasis on the importance of global online promotion, especially in the emerging multipolar economic world space; 2) show on a practical example the analytical justification for choosing a competitive marketing strategy for the entry of a Russian company into a foreign market. Research design: the purpose of forming a product positioning strategy is to achieve competitive advantages and ensure the competitiveness of the company. Therefore, in modern companies striving for success in the competitive struggle, organizational and economic mechanisms for managing brand development should be developed and implemented. Competitive analysis as part of a marketing strategy is a necessary analytical and managerial tool for studying the potential of a company’s development in the market. Results: 1) analysis of the cultures of the countries considered for the exit was carried out according to the indicators of G. Hofstede; 2) it was concluded that the most appropriate foreign market is the Turkish market; 3) it would be advisable for the company to apply the nicher strategy based on the environmental friendliness of the product.

Downloads

Download data is not yet available.

Author Biographies

Nadezhda V. Kondrashova , Voronezh State University

Cand. Sci. (Econ.), Assoc. Prof.

Elena A. Kuznetsova , Voronezh State University

Senior Lecturer (Econ.)

References

Aaker David A. Strategic Market Management: Global Perspectives / David A. Aaker, Damien Mc. Loughlin. New York, John Wiley and Sons, Ltd, 2018. 368 p.

Chatterjee S. Why do small and medium enterprises use social media marketing and what is the impact: Empirical insights from India / S. Chatterjee, A.K. Kar // International Journal of Information Management, 2020, no. 53, pp. 102-103.

Constantinides E. Foundations of social media marketing // Procedia-Social and behavioral sciences, 2019, no. 148, pp. 40-57.

Doyle P. Value based marketing. Wiley, Chichester, 2019. 94 p.

Keenan M. Global Ecommerce Explained: Stats and Trends to Watch in 2021. Доступно: https://www.shopify. c o m / e n t e r p r i s e / g l o b a l e c o m m e r c e statistics.

Laroche M. Effects of multi-channel marketing on consumers' online search behavior: The power of multiple points of connection / M. Laroche, I. Kiani, N. Economakis, M.O. Richard // Journal of Advertising Research, 2018, no. 53 (4), pp. 431-443.

Levitt Th. The marketing imagination. New York, Free press, 2021. 238 p.

Oscar M. Foreign market entry knowledge and international performance: The mediating role of international market selection and network capability // Journal of World Business, 2022, no. 57(2), pp. 1-14.

Pease W. The language of global marketing: translate your domestic strategies into international sales and profits. Wiley, WRD Publishing, 2021. 219 p.

Wang K., Yang K. A review of domestic and international research on new media marketing // Atlantic Press, 2021, pp. 321329.

Yan. R. Product distribution and coordination strategies in multi-channel context / R. Yan, P. Guo, J. Wang, N. Amrouche // Journal of Retailing and Consumer Services, 2019, no. 18(1), pp. 19-26.

Yrjola M. Omni-channel retailing: propositions, examples and solutions / M.Yrjola, M.T. Spence, H.Saarijarvi // The international review of Retail, Distribution and Consumer Research, 2018, no. 28(3), pp. 259-276.

Published
2023-05-22
How to Cite
Kondrashova , N. V., & Kuznetsova , E. A. (2023). Competitive analysis of the marketing strategy of a russian company’s entry to foreign markets. Modern Economics: Problems and Solutions, 4, 87-100. Retrieved from https://journals.vsu.ru/meps/article/view/11221
Section
Accounting, Audit and Economical Statistics