What is international market?

A market can be defined simply or rather

complexly. In the simplest terms, a market is a system of institutions, rules and
procedures relating to the exchange of goods and services between persons or
organizations. Markets can be defined in different ways, including by
geography, customer, product or even the behavioral characteristics of
consumers. An international market is defined geographically as a market
outside the international borders of a company's country of citizenship. A
company, to the extent that it is a legally distinct entity from its owners like a
corporation, is usually a citizen of the country where it is organized.
Based on the question given, Revlon should concentrate their efforts on
international market despite the competitive pressure and the low value of the
dollar. This is because, once the value is decrease, people from different country
will start to buy more product from Revlon because they only need to pay less
than usual. Hence, the demand will start to increase and Revlon will gain more
new customer from different country.
Beside that, when the chip are down, Revlon will work better and come
out with a tons of new ideas as people said, we work the best under pressure.
Revlon have to come out with a new idea to as the time flies and need to react a
soon as possible to make sure that Revlon be able to rival another or other giant
cosmetic company. For example, in South Africa, skin lightening is not a new
phenomenon because they believe that lighten their skin because fair skin is too
often seen as more attractive and provides them with an economic advantages.
Thus, Revlon should come out with a new product speciality in whitening for
African people but at the same time approve by World Health Organization
(WHO). This is because, most of the whitening product in South Africa get
banned by the WHO because of using forbidden ingredient.
Last but not least, Revlon should increase their production in
international country specifically in Asia region because it will reduce the cost
in manufacturing and Revlon will gain more profit in their product. As the cost
is decreasing, Revlon should consider on different target market, for example,
for those low income people with a cheaper product. Even though the product
might come in a cheap price yet it still have the quality of expensive product.
Thus, Revlon will gain more customer from different target market and at the
same time gain more positive image of the company.
Based on the second question, Revlon should focus and concentrate their
efforts in China, a gold mine. The reason why Revlon should focus in China
because China is the largest market in the world and due to its extremely
dynamic market. Chinese people consumer spend more and more cosmetic
product and this trend does not seem to be slowing down. In china, beauty
market is on the way to become the world largest in term of sales and market
shares by the end of 2030. Chinese consumer also ready to spend more for
higher quality product. Revlon should target for rich consumer, this is because
in China, social status is very important. The average Chinese consumer use
luxury brands or expensive product as a way to show off their wealth. Thus, the
best way for Revlon to leading in cosmetics product are tend to put higher
priced items because higher is better. Moreover, consumer in china tend to have
no-loyalty to brand, they often trying new product and make it easier for Revlon
to break the cosmetics wall in China.
Beside China, Revlon should concentrate their market is in Japan.
Japanese consumers have long been obsessed with beauty and based on the
Cosmetic Business News show that Japan has the highest per capita spending on
skin care and cosmetics. Beside that, its not only spending power that Japanese
consumer that Revelon can shout about, but they also have a rich history of
cosmetic innovation too. “Killing two bird with a stone”, while Revlon selling
their product in Japan, Revlon should also study the latest innovation or
technology that been using by their competition in manufacturing their product
time by time in order to keep progressing. However, Revlon should not paint
beauty industries with one brush. This is because, Japanase consumer believes
that product is about the quality, and in the long term the quality will always
override the surface of marketing.
The last country suggested for Revlon to travel international market is
India. In keeping with cosmetic expect and social influencer, India is that
the next global beauty market. it's thanks to its population. India currently
placed second within the world’s biggest population behind China. If Revlon
approaches the Indian market within the right way, they will improve their
financial performance. India also didn't have a famous local cosmetic brand as
India cared-for put more concentrate on Information Technology (IT) and
Engineering. So, Revlon must consider this move and lead Indian cosmetic
market. Revlon also must be smart in marketing their product as Indian have
tons types of skin colour. Also, the behaviour among this type of individuals are
going to be different and Revlon must be prepare to overcome this situation. It
is the same issue happen in South Africa and India where they start to realised
and notice about the importance of skincare and cosmetics is arising among
Indian. Thus, for a better growth in Revlon , it's a decent move to enter Indian
market prior the other competitors.