How GMMSO4 Helps Business Managers in Finding Potential Foreign Markets

Global Marketing Management System Online, 4^th Edition, or GMMSO4 is a web-based strategic international business software developed by Janavaras & Associates International (JAI). According to JAI, it will help your company enter or expand its presence into foreign markets. GMMSO4 provides a comprehensive, systematic, integrative, and strategic marketing planning process designed to guide managers through a corporate decision-making process with reference to seeking opportunities and attaining global market share. The GMMSO approach finds its theoretical and empirical justification from the international business and strategic management literature.

According to international marketing experts, the main content of a global strategic marketing plan that guides strategic and tactical marketing decisions usually covers four areas – market situation analysis, objectives for each country, strategies & resource allocation, and action plans (for each marketing mix element). Also, there are four stages when it comes to the development of a global marketing plan:

•      Deciding whether to globalize

•      Deciding which markets to enter

•      Developing market entry strategies

•      Designing the global marketing program – developing the international marketing mix

•   Implementing and coordinating the global marketing program according to the allocation of marketing resources indicated in the marketing budget.

Challenging Task of Bringing Real World to a Training Environment

When designing GMMSO4 software, the developers have faced the challenging task of bringing the real world into the training environment and to make the project realistic. Yet, the developers successfully fulfilled that task. The main aim of GMMSO4 is to assist marketing managers as well as students to research global markets and develop effective international marketing plans and strate­gies. GMMOS4 provides the much intended platform and a systematic step-by-step process needed to support users in their roles as manag­ers and decision makers in a global setting. It enables users to:

• Conduct a company situation analysis in global context

• Identify countries with high market potential for the company’s product/service

• Conduct and in-depth market/competitive analysis and select the best country market

• Determine the best entry mode strategy and develop the market­ing plan

The web-based GMMSO4 software leads to a systematic gathering and evaluating of informa­tion to build a learning experience that stimulates business managers using on­line resources. The expected outcome is a comprehensive and dynamic international marketing plan, which can be executed anywhere in the world. Business managers, working individually or in groups, have an opportunity to in­tegrate all functional business areas, assess the impact of environmen­tal forces on business decisions and bridge the gap between theory and practice.

Approach JAI for International Business Simulation Software

For conducting research and analysis on international markets, you can use a web-based simulation software like GMMSO4 provided by JAI at a budget-friendly price and customized to your business requirements. The main focus of this user-friendly global strategic planning software is to provide our clients with a systematic and practical approach to identifying global business opportunities and develop their international business strategies online.  

Are You Looking for an Effective Way to Teach International Business – GMMSO4 Can Help You

When it comes to teaching international business, instructors and teaching faculty has been facing one of the most important challenges – how to bring the real world into classroom or training environment. Many industry experts have recommended the need of a web-based platform that offers systematic step-by-step process to support students in their roles as future business managers and decision-makers in a global setting. Students are provided with an interactive, engaging, and innovative international business software which helps them to bridge the gap between theory and the rigorous decision making process of solving real, complex business problems. The Global Marketing Management System Online (GMMSO4) designed by Janavaras Associates International, Inc (JAI) which can be used for educational and business purposes.

Why the Need for Project based Learning Software Tool

GMMSO4 is essentially a project-based learning (PBL) software tool that can be used for

international business projects as a part of a course or on its own. These days, most academic establishments and training centers rely on internet technology to teach students. Also, research evidence seems to point out that one of the immediate consequences of increasing adoption of technology into the classroom is the shift from lecturer and lecture discussion to student-centric learning. This is where project-based learning tool like GMMSO4 plays an important role. According to many surveys conducted by instructors, GMMSO4 software enhanced the students’ international business understanding and improved their team-work and critical thinking skills.

Thus, GMMSO4 adopts student-centric classroom approach that involves discussion, critical analysis, and group work, and provides more opportunities for research and interactive discussions. According to academic experts, when student-centered learning approach is adopted by universities and training centers, there is high involvement and retention from students and lecturers adopt a more facilitative role rather than being a simple source of knowledge and expertise. Web-based GMMSO4 is entirely different from other simulation software available in the market in terms of features that include:

·         GMMSO4 is holistic

·         It is interactive and integrative

·         GMMSO4 is cognitive and experiential

·         Innovative and resourceful for both instructors and students

·         GMMSO4 is illustrative as it consists of many case studies

·         It is multidimensional

The main objective of GMMSO4 is to assist students as well as marketing managers to research global markets and develop effective global marketing strategies and plans. This global marketing management simulation software provides the much needed platform and offers a systematic step-by-step process needed to support students in their roles as managers and decision makers in a global setting. GMMSO4 enables its users to:

·         Conduct situation analysis of a business organization in global context

·         Identify high potential foreign markets for launching the company’s product or service

·         Determine the best entry mode strategy and create your unique marketing plan

·         Conduct an in-depth market analysis and choose the best foreign market

You can Ask for Instructor FREE TRIAL

If you are looking for an effective way to teach international business or global marketing, you can get the global marketing management teaching tools from Janavaras Associates International (JAI), located at 27 Capri Drive, Mankato, USA. You can ask for instructor free trial for trying the software to know whether it will meet your needs and requirements.

International Marketing Helps in Expanding Your Business Presence into Foreign Markets

International marketing is a marketing strategy implemented on a global scale by business organizations that want to expand their presence into foreign countries. When a business enterprise (irrespective of its size) wants to target their product/service to potential customers of another country other than the country it resides, the company has to take genuine efforts even if the company has the financial stability in spending huge sums of dollars at a new exporting venture.

Must Have Thorough Knowledge of the Foreign Market

If your business need to sell products or services in an international market, you need to know more about the foreign market you are targeting your product/service. You need to gather information about current market trends, your competitors of the market you are targeting, current political-geographical scenario, and many other aspects. While the principles of marketing is generally the same across the globe, but the business environment can be dramatically diverse from country to country, and even region to region.

According to industry experts, some of the frequent marketing concerns that you will face when you focus on international markets include advertising, price, input costs, distribution, and the stability of the foreign market(s). These factors are likely to vary by country and you have to choose the country which you think is more suitable to start conducting your business. Whether you are running a large business enterprise or a small business venture – to get over these hurdles, you need to coordinate and manage an efficient marketing plan.

Setting Up Your Operational Base in another Country

For large business organizations, they can set up their own operational or manufacturing base in the particular country they target. But when it comes to small business enterprises, it is hardly ever an option as it usually requires enormous sums of capital. Instead, they can form business partnership with either domestic or foreign business ventures that are already established in that target country.

There are business consultants who specialize in international marketing can also provide necessary expertise and guidance in developing business / marketing strategies. They can connect you with local intermediaries they can trust and rely on. They can provide you information on potential customers, pricing, advertising, distribution, and input costs. Also, they can help you in contract negotiations and setting up your exportation venture faster and more efficiently.

Another important point you need to note is that large business organizations can bear the losses occurred due to poor marketing strategy and preparation, but it is not same with small businesses as it will wipe out them completely.  So, for small and medium enterprises, market research is a vital strategy, and this is not just achieved by what you know, but who you know.

How to Determine Which Country is Right for Your Business

In the era of internet and mobile technology, many large corporations started investing on highly reliable and cost effective international business strategy tools that help them in finding opportunities for conducting their business in foreign countries. A web-based and user-friendly international business simulation software enables you to:

·         Determine which country has the highest market potential for your business

·         Conduct a company situation analysis in a global context

·         Develop your unique marketing strategy for entering that country

·         Choose the most effective entry mode plan for that potential market

Many business consultants, company executives, business instructors, government trade specialists, and even university professors use international business software for business and educational purposes. If you are interested in using this software, you can approach experts who develops this software, and they will help you in how to use this software to fulfill your business expansion goals.