Global Marketing, Foreign Markets and Strategies for Successful Entry Assignment - 1

Global Marketing, Foreign Markets and Strategies for Successful Entry - Assignment Example When analyzed through GE Matrix, both Egypt and Russia presented markets that would be highly attractive given the medium strength of Bats Bank as a business unit. While Egypt is the holder of the proud legacy of a bygone glorious civilization, the present condition of the country is not that glorious and its main importance in world commerce and industry is in its guardianship of Suez Canal. But the positive aspect of the Egyptian economy is its stable agriculture and a large concentration of population along both sides of the Nile River that practically bisects the country. However, the high levels of public debt leave very little opportunity for Egyptian Government to invest large amounts in industry. Hence, the scope of other financiers entering the market is rather rosy. And, this is true irrespective of the current political turmoil that the nation is going through. Russia has finally been able to come out of the trauma of disintegration of the Soviet Union and its loss of global superpower status. The free market mechanism has gradually taken a firm grip on Russian economy right from the advent of Perestroika a decade and a half ago and the political and economic stability of the country presents a very attractive opportunity for doing business there. Also, there is a dearth of finance in the market and financial services companies could do very well to bridge this gap. Any company entering Russian markets must take extreme care not to violate the statutory requirements of doing business in that country as any violation of local laws usually leads to the exemplary penalty. Globalization has become the norm of today’s industry and commerce. Business entities are finding it imperative that in order to survive and prosper in this age of cutthroat competition; they must cross national boundaries and mark their presence in foreign markets (Kay 1995). Foreign markets, through a treasure trove of opportunities, also present many issues and problems that need to be solved in a novel manner as business environments in these foreign shores need not be identical to those prevailing in the mother country.