Facing the Challenges of Nostalgia International Markets

Facing the Challenges of Nostalgia International Markets

António Carrizo Moreira (University of Aveiro, Portugal), Vitor Alves (University of Aveiro, Portugal), Tatiana Martins (University of Aveiro, Portugal), João Branco Pereira (University of Aveiro, Portugal) and Sónia Conceição (University of Aveiro, Portugal)
DOI: 10.4018/978-1-5225-5360-1.ch002

Abstract

Internationalization is a business strategy that normally aims at expanding the business of the firm outside its domestic market. It may also involve the creation of an integrated network of contacts and partners. The aim of this chapter involves a firm that distributes high-end wines and other alcoholic drinks to the domestic market and is seeking to expand its activities abroad. Taking into account the “nostalgia market,” with many Portuguese living throughout Europe, this chapter seeks to analyze how a Portuguese firm seeks to embrace the internationalization strategy of serving these ex-pats, through local retailers, and afterwards the possibility of serving the market abroad using the contacts so far developed. As such, the firm seeks to serve both the ex-pats and the local market alike. The chapter analyzes the Spanish, French, and German market, and it is possible to conclude that France is the market with the higher likelihood of success, economically and culturally.
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Internationalization

Internationalization normally refers to the process of increasing involvement of companies in business activities abroad (Grünig & Morschett, 2017). As such, it involves the company’s operations in different markets or countries, both in terms of production factors, capital transfers, as well as in the development of projects in cooperation with foreign stakeholders or simply in marketing activities in other countries (Ribau et al., 2015).

With the globalization of the economic world, internationalization is an activity that has become increasingly important, with consequences for the growth and survival of firms, regardless of their size (Dicken, 2015; Moreira, 2009).

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