Canadian Solar should begin separating the sales department from the marketing departments in its headquarters and all offices around the world. The newly created marketing department will be responsible for:
- Researching and studying global, regional, and local market demand, technologies, regulations, and competition.
- Identifying market segments and choosing the most profitable businesses to engage
- Aiding in the development of business strategies and decision-making processes
- Identifying customer needs and partnering with customers to develop new technologies that solve their needs.
- Developing marketing mixes to match specific markets’ culture, philosophy, and demand.
- Establishing a presence in online platforms in relevant markets using local resources and agents to develop online content.
- Building and maintaining relationships with suppliers, customers, and other stakeholders at the global and local levels.
The marketing team would adopt a green marketer’s approach – that is, they would sell sustainability and renewable energy, which adopts a different strategy from marketing conventional products. According to Peattie (2016), green marketing requires a heightened sense of ecological concerns and requires a shift from standard marketing philosophies to a customer-oriented approach. (Order a custom paper @ Discussionboardhomeworkhelp.com)
The marketing departments should then adopt the transnational branding strategy that would allow the company to correlate its products, communication, pricing strategies, and marketing strategies successfully without using a one size fits all approach. The adoption of this strategy would need the company to reorganize its corporate structure to accommodate the newly created department and to enable the company to focus its activities around delivering quality services and effectively serving the customers.
The adoption of this strategy would benefit Canadian Solar in the following ways. Firstly, the strategy would enable the company to communicate consistent messages to customers across all markets. Typically, delivering a similar message across multiple platforms and in multiple countries poses a challenge. Through collaboration, the company will ensure the brand representation across the globe remains consistent with the company’s objectives. Secondly, the adoption of this strategy would reduce the risk associated with building a global campaign. Ideally, global marketing campaigns experience challenges in meeting local needs. Again, a collaboration between multiple departments autonomously would enable the company to build the brand progressively and effectively. Thirdly, the company would achieve localizing its marketing campaigns and products. Having a local marketing team is an effective way to understand the challenges faced by that demographic hence develop custom solutions. Equally, teams can share ideas on strategies that work in various situations hence can solve problems in other localities fast. Lastly, the transnational branding strategy enables effective management. The adoption of this strategy by Canadian Solar would lower the company’s costs associated with marketing activities and the complexities of managing a marketing campaign. The strategy would make it easier to manage the global brand hence reduce costs involved in developing a universal marketing strategy. With scholars proving that a one size fits all approach to global marketing does not work, the transnational branding strategy would be the most ideal for Canadian Solar’s attempt to grow its market share. (If you need a similar paper, contact buytermpaper online).
In addition to the above benefits, adopting the transnational branding strategy could lead Canadian Solar to benefit from worldwide learning, international flexibility, and global efficiency (Bartlett and Goshal, 1993). The company could develop a multidimensional perspective into global operations, particularly from having representation across the globe. By addressing local challenges, teams located across the world provide the head office with insight and data that could be critical for the company. The company can also use the data to understand tastes and preferences. Also, a variety of ways to solve similar problems could enrich the company’s ability to solve problems. Indeed, having local marketing teams over subsidiaries or agents could benefit Canadian Solar immensely.
Also, Canadian Solar stands to benefit from distributed independence and capabilities. Understanding country-specific needs are critical for any company with a global footprint. Agents and subsidiaries cannot inform the principal of all events or variables experienced in that country following the agent-principal conflict. Having country-specific information is critical for a company attempting to strategically position itself to grow its market share and to respond in a timely and effective way shifting market dynamics. It is widely acknowledged that the centralization of decision-making processes and creates bureaucracy and challenging to solve problems remotely. To develop a broader view of the market’s Canadian Solar serves, it is essential to have representation through marketing teams. In this regard, the transnational strategy offers an integrated network of all teams across the value delivery chain and exploits the skills, ideas, and talent to solve local problems while maintaining an international perspective.
Lastly, the adoption of the transnational strategy would allow for the flexible integration of processes. The strategy allows for socialization, formalization, and the coexistence of various teams working in different locations. Regardless of the differences in the country of operation and the differences in culture by the various teams, the strategy allows for cohesiveness and the development of a similar approach to solving customer needs that makes the customer identify with the brand.
The reliance of agents to market Canadian Solar products in the 150 countries the company operates could be causing the decline in market share, forcing Canadian Solar to focus on large electricity generation projects over the retail business. Indeed, it is challenging for a company to retain offices and operate in many countries using a one-size-fits-all approach. For this reason, Canadian Solar should adopt the transnational branding strategy. The strategy would allow the company to be flexible in its marketing activities, distribute its marketing and other abilities, and have a multidimensional perspective of global markets over its competition.