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Training Marketing Plan For Training Business Development

Concept The Concept Phase is initiated when either the Training Product Management, Technology team, Training Business Development Manager or Training Business Unit owner submits a request for a new training offering or modification to an existing one. Requests would be prioritised as defined by the Training Product Manager or Program Management Office if part of a large organisation. Following which, the requests would be reviewed by various stakeholders to assess the business opportunity and viability of the request in the context of relevance to the training groups business needs and corporate strategy. If approved, funding typically in the form of manpower would be allocated in order to undertake the Feasibility Phase. Feasibility†¦show more content†¦Which in turn will be used to design the overall specification of the offering covering module content requirements and practical session needs. In addition other core documents, such as the Marketing requirements, Training Infrastructure description, Sales and Training Partner Enablement, Certification or Accreditation requirements and Training Operation updates will need to be specified and completed. Once these have been completed and aligned to a budget and ROI plan. They can be married to a planning schedule and checklist which can be presented to the Stakeholders for approval. Once approved development of the offering can commence. Development This is where the actual training offering and business support functional requirements are completed and developed in preparation for release to the market. As they are developed, other teams can work in parallel such as training instructors testing the modules and practical sessions as they become ready. Certification exam development questions can be undertaken on a module by module basis. However the final compilation and validation of the exam cannot be started until all the content has been completed and finalised, which would be catered for in the planning document. From the business support perspective the Project Manager must ensure all core planning documents and checklist activities are undertaken and supported accordingly. Having the training

Marketing Plan for a Premium (Branded) Product Free Essays

Table of Contents No| Tittle| Pages| 1. 0| Executive Summary| 5| 1. 1~1. We will write a custom essay sample on Marketing Plan for a Premium (Branded) Product or any similar topic only for you Order Now 2| Objectives ~ vision and mission| 5| 2. 0| Company Summary| 6| 2. 1| Background| 6| 2. 2| Company Locations and Facilities| 6| 3. 0| Products and Services| 7| 3. 1| Products Description| 7| 3. 2| Competitive Comparison| 8| 3. 3| Supply and Demand Details| 9| 3. 4| Technology Needs| 10| 4. 0| Market Analysis| 11| 4. 1| Target Market| 11| 4. 1. 1| Target Market Segment Strategy| 11| 4. 1. 2| Market Needs| 11| 4. 1. 3| Market Trends| 11| 4. 1. 4| Market Growth| 12| 4. 2| Industry Analysis| 13| 4. 2. 1| Industry Participants/Key Players| 13| 4. 2. | Main Competitors/Competitive Analysis| 13| 5. 0| Strategy and Implementation Summary| 14| 5. 1| Marketing Strategy| 14| 5. 2| Pricing Strategy| 15| 5. 3| Promotion Strategy| 15| 5. 4| Distribution Patterns| 15| 5. 6| Sales Strategy| 16| 5. 7| Sales Forecast| 16| 5. 8| Sales Programs| 16| 6. 0| Web Plan Summary| 17| 6. 1| Website Marketing Strategy| 17| 6. 2| Development Requirements| 17| 7. 0| References| 18-20| 1. 0 Executive Summary 1. 1 Objectives My objective is to collect and research information to understand Audi Company better in terms of their company background, product and services and their marketing strategy. Examples are like their technology, competitors pricing, sales figures market growth and many more. 1. 2 Vision and Mission Vision: â€Å"Audi – the premium brand† Mission: â€Å"We delight customers worldwide† 2. 0 Company Summary 2. 1 Background Audi is under a parent company named Volkswagen Group which is a German automobile manufacturing company. Audi is a manufacturer of exquisite cars – beautiful, sophisticated machines that embody technological perfection. Audi is the Premium brand growing most rapidly and on course to become the world’s most successful Premium manufacturer. Audi has been recognised by the European Union for outstanding environmental protection, based on its long tradition of minimising and reusing production waste. 2. 2 Company Locations and Facilities The worldwide network of Audi sites comprises the two German plants in Ingolstadt and Neckarsulm, as well as seven production facilities in Gyor (Hungary), Brussels (Belgium), Changchun (China), Aurangabad (India), Bratislave (Slovakia), Martorell (Spain) and Indonesia. 3. 0 Products and Services 3. 1 Products Description Type| Audi Q5 2. 0 TFSI Quattro (225PS)| Vehicle Type| Sport Utility Vehicle (SUV)| Transmission| 6-speed manual| Year| 2011| Price(RM)| 328,000| Engines| 1,984  cc (1. 984  L; 121. 1  cu in) I4 turbo| Acceleration(0-60mph)| 7. 0 sec| Maximum Speed| 130 mph| Tank Capacity| 75| Weight| 1850| Audi Q5 2. 0 TFSI Quattro (225PS) is a sport utility vehicle (SUV). The transmission for the car is 6-speed manual. Not only that, the Audi Q5 engine is 2. 0 litre engines comes with a turbo system which boost its engine capability, the acceleration from 0-60mph is 7. 0 per second and the maximum speed is 130mph which is approximately 233kmh while the tank capacity is 75 litres and the weight is 1850kg. 3. Competitive Comparison Type| Range Rover Evoque| Porsche Cayenne| Vehicle Type| Sport Utility Vehicle (SUV)| Sport Utility Vehicle (SUV)| Transmission| Six-speed Automatic| Eight-speed Tiptronic S with Auto start/stop function| Year| 2012| 2012| Price(RM)| 363,888| 570,000| Engines| 2. 0L Si4 4-cylinder petrol engine| 3. 6L V6| Acceleration(0-100km/h)| 7. 6 sec| 7. 5 sec| Maximum Speed| 217 km/h| 230 km/h| Tank Capacity| 70| 100| Weight| From 1640| 2030| 3. 3 Supply and Demand Details Audi Q series Annual Sales in all countries Production (unit)| Year| Year| Vehicles (Audi)| 2011| 2010| Q5| 183,678| 154,604| Q7| 53,703| 48,937| Q3| 19,613| -| Total Audi Q series| 256,994| 203,541| Based on the table above, Audi Q series annual sales for the model Q5 had increase from 154,604 for the year 2010 to 183,678 for the year 2011. The different of annual sales between year 2010 and 2011 is 29,074 which means the supply and demand for year 2011 had increase. The total annual sales of Audi Company for 2010 are 203,541 whereas for the year 2011 is 256,994. The table above show that the total annual sales of the company had also increase 53,453 which mean the supply and demand of the cars increase from the year 2010 to 2011. . 4 Technology Needs As technology needs for the model of Audi Q5 is the engine. The engine Audi Company use for Q5 is 2. 0 litre engines comes with a turbo system which boost its engine capability and turbocharging for more power and greater efficiency   is a development of the engine that powers the likes of the current Audi TT and Volkswagen Golf GTI. The engine’s pow er and performance will be from 0-60mph is 7 seconds and the top speed will be 130mph or 209km/h. The horsepower can up to 211hp or 4300rpm and the torque will be 258 Ib-ft. or 1500rpm. 4. 0 Market Analysis 4. 1 Target Market The following are the strategy for target market. 4. 1. 1 Target Market Segment Strategy Market segmentation for Audi Q5 will be psychographic segmentation which means Audi Company divide the buyers into different categories based on social class, lifestyles or personality characteristics. For the target market segment will be differentiated marketing strategy which means Audi Company produces several types of car such as SUV (Sport Utility Vehicle), Sedan and Sport each targeting its own segment of consumers. As for the product I choose Q5 target market is towards consumer’s lifestyles from higher level income. The target market will be consumers who finding for more comfortable, powerful and luxury option. 4. 1. 2 Market Needs Audi Company is providing customer comfort and luxury cars. Audi have a very good warranty and aftersales services for the customers. Now for all the new Audi models, the customers can choose whether you want to have three, four or five years warranty. So with the few years warranty you can enjoy your driving and also no need to worry about the unexpected repair bills. 4. 1. 3 Market Trends Market trends for Audi Q5 is the technology its use for the engine. Audi Q5 has automatic start and stop function for greater fuel. Audi Q5 comes with the Driver’s Information System (DIS) can help consumer to save fuel. Not only that, the market trends for Audi Q5 is because comfort and luxury. 4. 1. 4 Market Growth Production (unit) Production (unit) Year Year Figure: Production of vehicles Audi Q5 Figure above shows the Audi Q5 pass four years production from 2008 to 2011. The models of Q5 have a production of 20,320 in year 2008. Then the production increase from 20,320 to 105,074 in year 2009. The different of both years are 84,754. The productions still continue increase from 2009 to 2010 which mean from 105,074 to 154,604. Lastly for year 2011, the production for the year is 183,678. Compare to the pass four years the production of Audi Q5 is continues increase. 4. 2 Industry Analysis 4. 2. 1 Industry Participants/Key Players The industry participant for Audi Q5 is Stefan Sielaff. He is the head of design in Audi Company. He joins the company in year 2006. The key player for Audi Q5 is towards the consumers with high level of income and age above 40. Not only that, Audi Q5 can also be for family uses because it is 7 seaters car. 4. 2. 2 Main Competitors/Competitive Analysis The main competitors for Audi Q5 are Range Rover Evoque and Porsche Cayenne Range Rover Evoque: * The main strength of Range Rover Evoque is that it is the sport utility vehicle (SUV) with the engine turbocharged inline four-cylinder which can boost up to 240 horsepower, six-speed automatic transmission and impressive acceleration which is 7. 6 per second. Porsche Cayenne * The main strength of Porsche Cayenne is that it is also sport utility vehicle (SUV) with the engine 8-speed Tiptronic S which can boost up to 380 horsepower, Eight-speed Tiptronic S with Auto start and stop function and impressive acceleration which is 7. 5 per second. 5. Strategy and Implementation Summary 5. 1 Marketing Strategy Marketing strategy for the Audi Company is to hit the annual sales target or increase sales and profitable get back. Audi Company will choose the best strategy to gain profit in order to create customers value. Audi Company market segmentation will be psychographic segmentation which means for the model Q5, the segmentation will base on the individual lifestyles . Audi Company market target will be age above 40 and consumers with high level of income. The target market segment will be differentiated marketing strategy. This is because the Audi Company is going to target on few market segments and provide few models such as A4, TT and Q5. By setting the market targeting, company hope can get higher sales. The market position for Audi Q5 is to combine both aspect in terms of luxury and performance in order to make the Audi Q5 to become a perfect sport utility vehicle. With high quality and luxury car and have also good performance with high tech engine, better interior and exterior are more attract the consumers compare to others competitors. 5. 2 Pricing Strategy In terms of pricing strategy, marketers have to look into competitors’ strategies and prices to make comparison. The pricing strategy for Audi Company is by cost-based pricing which is convincing consumers of the vehicles value. The company profit will be the most important issue in pricing strategy. Audi Company is using psychological pricing which means it is consider about the pricing but not the world economics. The higher the price of car is, the higher quality of the car is. 5. 3 Promotion Strategy The promotion strategies for Audi Q5 are advertising and public relation. In terms of advertising, Audi Company has to make decisions when setting the advertising budget which is objective, budget decisions, message and media decisions and advertising evaluation. The marketer had chosen the advertising budget by using competitive-parity method in order to prevent promotion war and know what the competitors plans. Public relation is that Audi Company builds a strong relationship with the customers. The public relation company will organise a special event for example car show to promote the cars. By organising the car show public relation people can introduce the benefit of Audi Q5 and the specifications. . 4 Distribution Patterns The distribution patterns for Audi Company will be wholesaling. Audi Company is the wholesaler and the Audi Company will hire selling agents to help the company to gain the sales. The selling agents will sell the cars direct to last consumers. The wholesaler will set the segmentation and targeting consumers in order to identify th e consumers and build a strong relationship with them. Selling agents have to explain about the cars specification and pricing to the customers in details to make the customers understand about the car concept. 5. Sales Strategy Sales strategy for Audi Company for model of Q5 is Audi Company have a very good aftersales services and warranty. Each of Audi cars has a warranty of at least 3years. Then, consumers no need to worry about the high repairing cost. Let’s say a customer with an Audi car model of Q5 send his or her car to service and he or she is busying with the job he needs a car to go work while the car repairing. In this case, Audi Company will decide to give the particular customer a same model of car to use while the car is doing services. 5. 6 Sales Forecast The annual sales for Audi Q5 in year 2011 are 183,678 units so the marketers aim that the next annual sales in year 2012 for Audi Q5 will be 500,000 units. The reason why the marketers aim for more annual sales is because the Audi Company objective is to get benefits. To gain more annual sales the marketing strategy have to be improve in order to have more supply and demand of Audi Q5. 5. 7 Sales Programs The sales program for Audi Q5 is the marketers will set market segmentation, market targeting, market position and market differentiation to concentrate on a market to increase the annual sales. In terms of pricing, the marketers will consider the target market income level and needs to get an Audi Q5. The marketers also will consider about the consumer judgement on the product. The marketers have to do some promotion in order to introduce the product to the target market. In this case, the product is Audi Q5 so the marketers have to consider the suitable premium product promotion strategy. After all, the marketers have to set a distributer to sell out the product. The distributer is by wholesale which means the Audi Company has to hire a selling agent to distribute the product to the last consumer. 6. 0 Web Plan Summary 6. Website Marketing Strategy Website marketing strategy is something similar to marketing strategy but is only available in online business. First of all, the marketers have to select the target market for Audi Q5. The target market for Audi Q5 is basically on consumers which is with high level of household income and with age 40 above. Audi Q5 is a premium product so for online marketing the consumers have to look into more about details of the company and also the car. Furthermore, the marketers have to look into the competitor’s online advertisement make sure the competitor’s online marketing did not reduces the confident of the consumers. Then, the marketers have to improve the Audi Company advertising skills. In terms of pricing, the marketers have to look into the market target needs. By using psychological pricing which means the consumers thought that the higher price of the car means the higher quality of the car. The consumers buying Audi Q5 is to show status and personal characteristic. The marketers have to create an advertisement either create by own or by hiring the graphic designer. For Audi Company normally the marketers will hire the famous graphic designer to create a fabulous website page. And the graphic designer will helps to create the content of the advertising which is the slogan of the Audi Company by giving consumers message about the car comfort and luxury. In addition, the marketers have to monitor the advertising in terms of maintaining the latest news of the website. 6. 2 Development Requirements The marketers have to make sure the budget of the advertising did not over the cost so that the company did not lose any profit. The costing by hiring a famous graphic designer are very high so the marketers have to make sure that the online marketing are successful and hit the target of sales. List of References Audi. com (n. d. ) Corporate strategy Audi at a glance Investor Relations Audi Worldwide. [online] Available at: http://www. audi. com/com/brand/en/company/investor_relations/audi_at_a_glance/corporate_strategy. html [Accessed: 28 Nov 2012] En. wikipedia. org (1937) Volkswagen Group – Wikipedia, the free encyclopedia. [online] Available at: http://en. wikipedia. org/wiki/Volkswagen_Group [Accessed: 28 Nov 2012]. Fleetdirectory. co. uk (2012) Audi profile and Audi company details. [online] Available at: http://www. fleetdirectory. co. k/audi/ [Accessed: 28 Nov 2012]. Audi. com (n. d. ) Careers Audi Worldwide. [online] Available at: http://www. audi. com/com/brand/en/company/careers. html [Accessed: 28 Nov 2012]. Models. audiusa. com (2012) Detailed Specifications Features and Specifications Audi Q5 Audi of America. [online] Available at: http://models. audiusa. com/q5/detailed-specifications [Accessed: 28 Nov 2012]. En. wikipedia. org (2009) Audi Q5 â €“ Wikipedia, the free encyclopedia. [online] Available at: http://en. wikipedia. org/wiki/Audi_Q5#Transmissions [Accessed: 28 Nov 2012]. Models. audiusa. om (2012)  Engines Features and Specifications Audi Q5 Audi of America. [online] Available at: http://models. audiusa. com/q5/engines [Accessed: 28 Nov 2012]. Landrovermalaysia. com. my (2011) Land Rover – Media. [online] Available at: http://www. landrovermalaysia. com. my/media_rangerover44tdv8. asp [Accessed: 28 Nov 2012]. Topgear. com (2012) Porsche Cayenne GTS unveiled in Malaysia – TopGear Malaysia. [online] Available at: http://www. topgear. com/my/7667-porsche-cayenne-gts-unveiled-in-malaysia/ [Accessed: 28 Nov 2012]. Porsche. com (2012) Technical Specs – Cayenne Diesel – Cayenne Overview – Dr. Ing. h. c. F. Porsche AG. [online] Available at: http://www. porsche. com/pap/models/cayenne/cayenne-diesel/featuresandspecs/ [Accessed: 28 Nov 2012]. Annualreport2011. volkswagenag. com (2011) Volkswagen Group – Annual Report 2011 – Audi. [online] Available at: http://annualreport2011. volkswagenag. com/divisions/audi. html [Accessed: 28 Nov 2012]. Audi. com (n. d. ) Corporate strategy Audi at a glance Investor Relations Audi Worldwide. [online] Available at: http://www. audi. com/com/brand/en/company/investor_relations/audi_at_a_glance/corporate_strategy. html [Accessed: 28 Nov 2012]. Models. audiusa. com (2012) Detailed Specifications Features and Specifications Audi Q5 Audi of America. [online] Available at: http://models. audiusa. com/q5/detailed-specifications [Accessed: 28 Nov 2012]. CNET (2009)  Audi Q5 delivers sports car handling. [online] Available at: http://reviews. cnet. com/8301-13746_7-10309171-48. html [Accessed: 28 Nov 2012]. Topgear. com (2012) Porsche Cayenne GTS unveiled in Malaysia – TopGear Malaysia. [online] Available at: http://www. topgear. com/my/7667-porsche-cayenne-gts-unveiled-in-malaysia/ [Accessed: 28 Nov 2012]. Audi UK (2012) Saving you fuel Q5 Q5 Models Audi UK. [online] Available at: http://www. audi. co. uk/new-cars/q5/q5/saving-you-fuel. html [Accessed: 28 Nov 2012]. Babyrr. com (2012) babyRR. com – The Range Rover Evoque Forum – Negative Consumer Reports Review. [online] Available at: http://babyrr. com/forum/archive/index. php/thread-2845-1. html [Accessed: 28 Nov 2012]. Porsche. com (2012) Drive – Features – Panamera S Hybrid – Dr. Ing. h. c. F. Porsche AG. [online] Available at: http://www. porsche. com/usa/models/panamera/panamera-s-hybrid/detail/drive/ [Accessed: 28 Nov 2012]. speedonline. com (n. d. ) PDK vs. Tiptronic – 6speedonline. com Forums. [online] Available at: http://www. 6speedonline. com/forums/cayenne-958/273697-pdk-vs-tiptronic. html [Accessed: 28 Nov 2012]. About. com Small Business: Canada (2000)  Part Two of the 5 Step Internet Marketing  Plan. 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Benefits and Threats of Globalization to MNCs

Question: Discuss about the Benefits and Threats of Globalization to MNCs Baja Auto Ltd. Answer: Introduction For the purpose of this assignment, Bajaj Auto Ltd has been selected because it is a multinational company from an emerging economy (India). India is one of the largest emerging economies across the globe with an estimated economic growth of 7.9% on an annual basis, making it one of the largest emerging economic powerhouses (Mallet 2016). Bajaj Auto Ltd is among the leading producers and exporters of two wheelers in India. These have been achieved due to the focus that the company has placed on research and development, intensive investment, and the attempt to deliver products that cater for all the segments of the society. Bajaj Auto Ltd is one of the various Indian companies that have been impacted by the emergence of globalization. According to Haller (2016.), globalization is the process of integrating the societies, economy, political, and religious activities across the world. In this regard, Multinational Companies have taken advantage of the opportunities introduced by global ization to expand their production and marketing in order to increase their profit margins. By venturing into new foreign markets, multinational companies have enjoyed expanded markets and other benefits that come a long with globalization. However, this has not been pure bliss because of the numerous disadvantages that are associated with the impacts of globalization. Therefore, it is clear that globalization presents both threats and opportunities for multinational companies. In this regard, this paper is going to examine the threats and opportunities of globalization to decision-makers using Bajaj Auto Ltd as an example. It is going to conclude by discussing some of the important lessons that should be learned by managers from the host and home country interaction. Analysis of the threats and benefits that globalization creates for decision-makers Opportunities of Globalization to MNCs Expanded market share According to Gutierrez, Spencer, and Zhu (2012), one of the major goals of a business organization is to make profits by expanding their sales volumes. However, increasing the sales volume has been a major challenge for many firms. This has been attributed mainly to the saturation of local markets. The issue of the saturation of local markets has been solved by the emergence of globalization, which has enabled MNCs to gain access to global markets through exports or direct investment into foreign countries. As alluded in the introduction, globalization has led to the integration of world economies, and this has made many countries eliminating trade barrier such are trade tariffs and import duties. This has enabled MNCs to enter into foreign markets where they find a readily available market to sell their products and services. Even it originates from India which is an emerging economy, and Bajaj Auto Ltd has enjoyed the benefits of expanded international market both in developed and developing countries across the globe. The two-wheelers produced by this company are used as means of transport to deliver mails, parcels, and food products in developed countries such as the US, UK, and Canada. They are also used for the similar purpose as well as for human transport in developing countries such as Vietnam and all over other countries in the African continent. In addition to this MNCs such as Bajaj are able to supplement their domestic sales with the international sales, further ensuring large profit margins. In this regard, Bajaj Auto Ltd has found a readily available market across the world, thanks to globalization. Reduces marketing costs Globalization has enabled MICs to sell their products at a reduced cost, and thereby, attracting more consumers, and hence, increased sales. According to Patel and Prajapati (2014), business firms that sell global goods and services have the ability to reduce cost through the standardization of given marketing activities. For example, an MNC can produce a commodity for the global market, and then design or package it differently to fit the taste and preferences of the various market segments that it serves. Bajaj Auto Ltd has been able to reduce its cost of production through the production of differentiated designs of two wheelers to fit the requirements of different target markets. There are different types of two wheelers with different designs to cater to consumers of all economic classes, for example, the Baja CT 100 which goes at a price of $470 that targets the lower class from developing countries. There is also the Bajaj RS 200 which goes at $ 1, 860 and that targets consume rs belonging to the high-income economic level (Fifth Gear Ventures Ltd 2017). In line with these aspects, globalization has enabled Bajaj Auto Ltd to reduce its marketing cost by using the same design of two wheelers, however, by introducing slight distinctive features in them according to the preferences and the needs of their different target consumers across the globe. Access lower-cost workers Through globalization, MNCs have been able to gain access to low-cost workers, and this has significantly helped these companies to reduce the cost associated with production. Bajaj Auto Ltd has grabbed this opportunity by establishing wholly owned subsidiary branches in countries that have low-wage. These include developing countries such as Brazil, Indonesia, Vietnam, and other African countries that have cheap labor. This has helped the company to engage in the mass production of two wheelers, whereby a large percentage of these products are consumed locally in the countries in which they are produced, while other are exported into other countries (those with expensive labor) for sales purpose. This strategy has helped Bajaj Auto Ltd to significantly cut its costs of production of two wheelers. Access production inputs and technical expertise Through globalization, MCs have gained access to technical expertise from foreign countries (Atsmon, Kertesz, Vittal 2011). Due to their capacity, multinational companies have been able to attract the most qualified and talented individuals to work for them, and this has played a vital role in their incessant production of goods and the delivery of high-quality services. Bajaj has been able to hire a talented team of engineers to design, develop and manufacture their product, and this has enabled the company to produce high-quality products that meets the needs of the consumers (Daniels, Radebaugh, Sullivan 2011). Customer satisfaction is core to business success. The present day consumers are sensitive to the quality of the products and services that they consume, and hence, they are willing to pay for quality. Globalization also enables MNC s to gain access to vital production inputs in large volumes. Through access to global markets, MNCs have been able to gain access to production inputs that are not available or are costly locally (Cavusgil, Knight, Riesenberger 2012). Bajaj has gained access to raw materials that are vital for the production of the two-wheelers from developed countries like the US and Germany. Due to globalization, the company has partnered with international manufacturers of two wheelers from these two countries, for example, the Horex of Germany, Ducati of Italy and Suzuki of Japan to get important raw materials and engineers to use in their production processes. This has helped in the production of high-quality products across the globe. Threats of globalization to MNCs Due to the ease with which globalization has enabled MNCs to venture into foreign countries, these companies have established their presence in many countries to enjoy the benefits that are associated with it as already discussed in the section above. However, despite the numerous opportunities that are enjoyed by MNCs as a result of globalization, there are several threats that are also associated with globalization to these companies as discussed below. Stiff competition from other multinational companies One of the major threats of globalization to MNCs is the presence of stiff competition and the availability of substitute goods from other multinational companies (Atsmon, Kertesz, Vittal 2011). Bajaj Auto Ltd is facing significant threats of competition and substitute products from other companies. There are several major Multi-national Companies that produce high-quality two wheeler automobiles that have presented stiff competition for this company. At international levels, Bajaj Auto Ltd faces stiff competition from two wheeler manufacturers such as BMW, Ducati, Honda, Suzuki, and Harley Davidson. These companies have ventured into the same foreign markets where Bajaj has also established itself. Their presence is a serious threat to the market share of Bajaj two wheelers because they offer similar products. Companies such as Ducati and BMW offer high-quality two wheeler products that are of high-quality than that offered by Bajaj. This is a major threat to the performance of Baj aj as a company in the global markets because the customers of the current century prefer to buy high-quality products regardless of their prices (Banutu-Gomez 2014). Availability of substitute products that reduces the market share In addition to the stiff competition based on the quality of the two wheelers that are offered by these companies, Bajaj is also under the threat of the readily available substitute goods that are offered by other multinational companies that manufacture two wheeler auto-mobiles. According to Talaja (2012), the presence of readily available substitute products reduces the market share. In the global market, there are several two-wheelers that are offered at very low prices as compared to those that are offered by Bajaj Auto Ltd. This is a major threat to the existence and the survival of Bajaj Auto Ltd in developing countries with the majority of middle or low class because the majority of the consumers in these markets will prefer cheaper two wheelers. For example, companies such as Suzuki and Honda offer their products at lower prices in the global markets. This has contributed to the reduced market share of Bajaj Auto, and this has a negatively affected Bajaj financially. Cultural and leadership conflicts Due to the impacts of globalization, multinational companies are required to hire employees from different countries in order to achieve workplace diversity, which is vital for high-productivity (Niu Wang 2016). This has brought employees from different cultural backgrounds in the same workplace. This has resulted in various workplace conflicts based on employees and their colleagues, as well as between employees and the management, a phenomenon that has had significant negative impacts on organizational performance. People from different cultural background have different preferred methods of work, for example, there are those employees who embrace teamwork while there are employees who prefer to work individually. Including individualistic employees into a team results into conflicts and poor teamwork, hence, reduced productivity (Richardson West 2010). Similarly, employees who embrace teamwork cannot be productive on their own. The Cultural difference also determines the preferr ed style of leadership within the organization. For example, some employees prefer transformational forms of leadership while some prefer employees prefer democratic or autocratic leadership. The performance of Bajaj Auto Ltd is affected by the difference in culture and preferred leadership styles in the various foreign countries that the company operates in. The major lessons that can be learned by managers of international businesses in the interaction between the host and home country differences to ensure success Taking into consideration cultural difference between home and host country According to Banutu-Gomez (2014), understanding the cultural differences between the home and the host country is a key lesson that international business managers should learn to achieve success. There are several cultural factors that an international manager should understand, for example, the preferred style of leadership in the host country. Leadership inspires employees to achieve what they would never have achieved under normal circumstances. Therefore, it is mandatory that appropriate style of leadership should be implemented in the host country. This will enable the international manager to implement appropriate leadership styles that will ensure employee engagement and high performance (Truss, Shantz, Soane, Alfes, Delbridge 2013). The relevant style of leadership in the host country will also function to appeal to the target consumers; hence, it will attract potential buyers leading to an increased sales volume. In this regard, Bajaj has been keen on learning the various cultural information regarding countries that it ventures into. This has helped Bajaj to identify the different leadership styles of various countries and implementing them accordingly in their subsidiaries to ensure business success. Customers tastes and preferences Consumers are the most important stakeholders in among MNCs. This is because they are the target of the products; hence, the good or service being offered should meet their expectations of consumers in the host country (Van Den Born Peltokorpi 2010). In this regard, international managers of MNCs should identify ways in which to develop their products to fit the taste and preferences of their target consumers. In line with these aspects, Bajaj Auto Ltd has differentiated its products to fit various market segments, for example, they manufacture two-wheelers for different purposes. They have two wheelers that are used for sports and transport purposes. They also manufacture two-wheelers for high and low-income level of consumers. In this way, the company is able to meet the expectation of different class of consumers, hence, successful business. Training and monitoring of employees Drawing from the interplay between the host and home country, international managers should learn the importance of training and monitoring the employees in the host country according to the work ethics and standards of the involved MNC (Peng 2011). Training helps to equip employees with the relevant skills and knowledge that helps them to perform in the workplace, hence, exceptional performance in the market. The training and monitoring of employees in the host countries where Bajaj has ventured have been instrumental in the companys high performance across the globe. This has been successful in its venture in other emerging economies in countries in Asia and Africa, where the technical know-how may be wanting. As a result, this has helped the subsidiary branches to produce high-quality two wheelers that meet the expectation of consumers in the host country. Observation of the rules and regulations of the host country The successful business depends on the observation of the rules and regulations that govern business activities within the host country (Polesello, Amal, Hoeltgebaum 2013). On this basis, international managers should be keen to observe business registration requirements, licensing requirements, and tax requirements to ensure smooth operations within the host country. Bajaj complies with all the legal requirements of operating a business in the host countries that it has ventured in, and this has been a major factor in the success of Bajaj. Conclusion In summary, globalization has led to the proliferation of multinational companies across the globe. Many multinational companies have benefited from the opportunities that come a long with globalization. Companies from emerging economies such Bajaj Auto Ltd have enjoyed expanded markets that have enabled it to increase its sales volume. Globalization has enabled MNCs such as Bajaj to gain access to expertise and technical knowledge that enables it to produce high-quality goods. Globalization also helps MNCs to gain access to inputs and resources of production that are not available in the home country. Despite, there are significant challenges such as stiff competition from other firms that reduces their market share. Globalization has also made available substitutes goods that affect the performance of multinational companies in foreign markets. The interplay between home and host companies bring about significant lessons for international managers to ensure successful businesses. T he interplay helps managers to learn the cultural differences between home and host countries, and this enables the managers to remain sensitive to the cultural values of the host countries. The interplay also enables managers to meet the taste and preferences of consumers in host countries. Finally, the also help managers to observe the legal requirements between the host and home countries, which facilitates smooth and successful business operations. Bibliography Atsmon, Y., Kertesz, A. Vittal, I., 2011, Is your emerging-market strategy local enough? McKinsey Company. Banutu-Gomez, M. 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