Marketing and Whirlpool Essay

1.What is the nature of Whirlpool’s domestic and international business environments? What types of risk does the firm face? As far as Whirlpool domestic and international business and its environment are concerned, it resembles a complex nature. However, it would be prudent for the sake of this case and it analysis that domestic and international market of whirlpool is defined and analyzed uniquely, so as to drive home the idea in each one of it for a far reaching understanding. To be precise in that capacity we feel that the degree of whirlpool domestic market alone defines an altogether different nature from its international market. In the simplistic sense from assimilating the given case, it is relevant to ponder upon the fact that domestic market of whirlpool is rather marked with intensive competition and challenges when laid emphasis upon from a macro and micro-economic aspects. Whirlpool domestic market is also faced with intense demands of its buyers in the domestic arena. There is reason enough that buyers should be demanding, given the uproar and stiff competitions from rival manufacturers which makes it so. Moreover, for a firm with an international presence buyer’s expectation in the domestic market is also rather extreme to a certain degree, and their behavior based on whirlpool products and its allied appliances at the domestic front also presents an altogether diverse perception and wide array of choice selection, given the presence of other manufacturing competitors that offers similar products and appliances for buyers. Given these features, it is relevant and cautious to conclude that the nature of whirlpool domestic market is marked by competition, challenges and most notably buyer’s perception and choice, which at the end of the day decides the nature of any given market. Secondly, considering the nature of whirlpool international market, we are of the opinion that whirlpool international marketing is focused on the global arena to reaps and harness the benefits that international market offers. From the given case it is clear that international marketing of whirlpool is rather hyper-active in a sense. To cite an example, the case of its international marketing operation that focuses on innovations, internal expansion and most importantly acquisition and tie-ups plus partnership designate the point to note. Add to it, given the stiff competition on the domestic front, whirlpool is quick enough to shift and focused its marketing on international market. What we can drive home the idea from assimilating these crucial facts of whirlpool international market environment and its nature can be laid emphasis to the point that whirlpool presence thereof served a different and altogether greater purpose. To drive the idea in that regard we can reason finally that the nature and characteristics of its international market is more standardized, risky, and presents a great variations in the uncontrollable environmental forces, which is not the case with domestic environment. Consumer’s behavior is also different, which presents a different picture altogether. Nonetheless, to differentiate the nature of whirlpool domestic and international market the primary differences can be laid emphasis upon marketing strategy. After all, international market is more risky, given the added complexities. Yet returns and scope from international market is much higher and the opportunity cost is also huge, which is why we feel despite the environmental risks whirlpool radiantly prefers internationalization for an altogether different ball game 2. How can Whirlpool benefit from going international? What types of advantages can the firm obtain? What advantages acquired abroad can help management improve Whirlpool’s performance in its home market? Going international have many unseen extremes and benefits. Marketing internationally present a wide array of opportunities, variations, scope, operation and strategic purpose and most importantly potentialities and market cap. Hence, considering the case of whirlpool, we are of the opinion that by going international the firm can primarily benefit abundantly from the so-called international market. Hence, it would be practical enough to list some advantages that whirlpool can obtain, which is as follows: International presence, global identity, brand recognition, and most importantly greater market cap, and large consumer presence. Secondly, acquisitions of other organizations as a means to further channelize and harness the innovation both intrinsically and extrinsically. Such an instance also can be cited from the given case study in which whirlpool is involved in the acquisition and merger Maytang Corporation, which further boosts whirlpool global demands for its brands, and readily the influence factor that can be harnessed to reaps the advantages from such a developments. Third in the instance is advancement in technology, process and operation that is emphasized towards innovations, standardization and most importantly international marketing strategy that focused on the bigger picture. To cite an example, substantial advancement, development and standardization in operations can primarily be reached through marketing internationally. Comparative management also can be harnessed to its advantages. To top it all focus on research and development in the backdrop of international marketing research also has a greater efficiency and effectiveness factor which is one of the many advantages and crucial for innovations and creativity to take roots. From assimilating the crucial aspects of marketing internationally, and concerning the case of whirlpool, there is reason enough that strategy can differs, however; the principle of marketing is same. In that essence, comparative management process can bring a load of factors to improve domestic market of whirlpool. Take for instance operational strategy. Another example is identifying and understanding cultural aspects, environmental factors and the likes to progress the firm in its home market. Add to it, innovations, marketing and sales procedures also in all circumstances can be taken as an emulated advantage so as to directly initiate in the domestic and home market for that performance factor for growth and progress. 3. What actions has Whirlpool management taken to ensure that the firm succeeds in local markets throughout the world? To what extent is the appliance business local/regional rather than global? As the case study relates and from comprehending the same we can drive home the point that various measure were initiated by Whirlpool management to boosts its local marketing throughout the world. To cite an example of the reflective actions, the case of acquisition, merger and brand advertisement that attends to local factors is one important measure undertaken by the management to ensure that the firm succeeds in local market. What is pertinent to note though is the fact that marketing process of whirlpool represents a top notch and in tune with the trends that is fast catching up in various local markets around the world. Though marketing strategy differs accordingly in tune with global market environment, however, the basic marketing principle is hugely in practices in all aspects. The tie ups, merger, acquisition, knowledge sharing, innovation in practices and operational methodology all in between sums up the strategy integrated by the management to ensure that operational processes of the firm in the right course and smooth functionality in all instance. Through its internationalization expansion mode, Whirlpool has harnessed the opportunities to its advantages in all circumstances. Moreover, local preference of the firm also reflects a cross-regional approach to reap the potentialities of R&D as far as marketing research in the local market though out the world is concerned. To top it all, though it’s marketing reach research, whirlpool have been effective enough to trace certain and specific influential element in its favor. Take for instance understanding behavior perception, expectation and attending to their satisfaction have been the bigger course measure undertaken by Whirlpool management in ensuring that local though out the world get a boosts and drive to perform in all aspects. But we can further argue that there is a certain degree in which Whirlpool appliances business and that which accord to it is somewhat localized or regionalized in a sense. Take for example the integrated measure undertaken by the firm marketing towards initiating sensitive measures and commitment to its consumers in a vast array of diverse cultural settings which translate into huge business returns that can be emphasized towards its appliances business which is local and regional in a sense, given that marketing internationally for whirlpool have been confined within designated market areas with unique marketing that have had a huge impact to whirlpool operational process internationally as well. 4. How can Whirlpool effectively compete with new rivals originating from low-cost countries, such as Haier from China? Should Whirlpool’s response differ in its home and foreign markets? If so, how? There is reason enough o ponder the fact and to relate that competitions and challenges always make a part of the whole process on internationalization. To top it all, by going international, stiff competitions from local manufacturer is further imploded in a sense. As the case relates to, competitions from rival manufacturer, especially from lost cost countries such as china have been the biggest challenges. In order for Whirlpool to do away with such challenges, it is recommended that its internationalization process should take stiff measures to reflect the firm core commitments towards its consumers in delivering value added products and services. After all, ‘consumers are king’ this phrase should be the basis to initiate innovations and any necessary strategy to encounter challenges. Thus there is every possible pointer and case to augment that Whirlpool response should be constant and that which attends to situational scenarios as and when it matters. In that essence, by differentiating products as per consumer preference, plus facilitating a standardization of Whirlpool global brand and harnessing its marketing mix tools to its advantage as and when the situations demands can have a long way to go and can be mirrored as a direct recourse to effectively compete from emerging rivals and competitors such as Haier from China, which is having its market presence in Whirlpool domestic market given its low cost appliances and hyperactive business process that taps every possible opportunities available.