International Business Strategy - Case study Essay

foreign Business Strategy - Case study - Essay ExampleInitially, when LG penetrated developed markets, it faced setbacks from advanced technologies, designs, and extremely competitive market structure. With a not-so stable corporate infrastructure, LG had to forego the challenge and established itself in appear markets. Today, LG is one of the largest consumer electronics companies in the world. With established financing backup, highly advanced R&D technologies and designs, and a vindicated business strategy, it can breach any market that it wanted to in the world and compete with spherical giants. This has been accomplished through a distinct pattern of approach to market entry.When LG enters a market it branch identifies supportive infrastructure, like government policies, consumer perception and tries to eradicate adverse factors such as monopoly, intellectual blank space rights, which it had done in the case of Brazil. Once the company has established a base, it starts to educate its consumers and introduce products. sometimes products are customised and developed to cater to niche local needs like in India LG developed a cricket TV to cater to the nations love for the game. Similarly, in Russia, LG relied on the localization of products and sponsorship for events to get noticed. This has been a study turning point for securing the Russian market. In China, it has adopted the similar strategy to Brazil and India, with the added strategy of victimization around 98 per cent of local manpower to both secure its resources as well as appeal to their loyalty.