Global Orientation of Square:
Square Pharmaceuticals Ltd fits with the first stage of strategic orientation. The first stage is Domestic market extension orientation. In this stage, the domestic company seeking sales extension of its domestic products into foreign markets illustrates this orientation to international marketing. In this stage, the primary motive is to market surplus domestic production and considered international operations as secondary to and an extension of its domestic operations. Square’s first priority is to fulfill the demand of local market, after that they go for exporting in foreign market in order to make a profitable extension of its domestic operations which implies that it fits under the domestic market extension orientation. Even though the foreign markets dynamically pursued, Square’s orientation remains mostly for Bangladesh. The attitude of this stage towards international sales is typified by the belief that if it sells in Hong Kong, it will sell in Sri lanka as well, even anywhere else in the world. It means it follows a standardized form with a little customization. For example- Square Pharmaceuticals Ltd has its operations in almost 38 countries in the world. For every country, it produces medicines and other pharmaceutical products of same quality. Some customization happens in terms of packaging, pricing and promotion which depend on environment, tax regulation, Government intervention, language and so on. Square seeks markets where demand is similar to the home market and its domestic product will be acceptable. In Bangladesh, Square Pharmaceuticals Ltd is the market leader in pharmaceutical business. They earn the largest part of revenue from the local market. After that, they go for export in the foreign country where they earn 3% to 4% revenue from exporting. A firm that lies in this marketing approach is classified as ethnocentric. Attending Trade Fairs:
Square Pharmaceuticals Ltd divides their segments into...
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