Companies were facing loss due to changing trend in the global market. In this situation, it is necessary that appropriate set of decision should be taken by them (Chu and Huang, 2010). Developing global strategies will result in providing a better set of opportunity for the growth of the companies working in the wine industry. It is necessary that effective set of decisions should be made by the companies so as to sustain in the highly competitive market.
There are four international strategies available. In this situation, it is necessary that wine companies should take an appropriate set of the decision and adopt the most effective strategy so as to sustain in the market.
In the case of wine companies, it could be suggested that they should adopt the multi domestic strategy. It means that the company should grab the culture and trend of the country in which it is selling its product. Doing so will attract more people towards the products and services. Behaving like the local company will attract more people and will lead to increase the sale of wine at the global level (Manrai, 2017).
Another strategy which could be adopted is a transnational strategy. It is the strategy in which the products will be moved across the national boundaries. In this, selecting certain countries and focusing on the sale of the product in these countries will lead to increase the sale of its products and services in the market (Hollensen, 2017).
Analysing and evaluating all the aspects related to the companies working in wine industry, it could be said that using one of the strategies mentioned in the above section will definitely relevant set of support to the companies in moving towards sustainability.
Adoption of the strategy will enhance the brand value in the international market.
These strategies will increase the sale of wine in various countries (Gillespie and Hennessey, 2016).
Using multi domestic strategy will attract more people as in present trend. People get attracted towards the products and services which are familiar to them.
Hence, it could be concluded that analysing the market trends and adopting the strategies according to them will help the companies in attaining success market. Global strategies always provide a better and effective set of solution to the companies with the help of which they can manage their growth in the market. Hence, it is required that appropriate set of strategies should be adopted so that success could be obtained by the companies in the competitive market (Chu and Huang, 2010).