Law Firm Marketing Strategy
International marketing involves firms' marketing mix decisions across international boundaries. On the other hand, international marketing involves an operating marketing strategy to capture the markets across national boundaries. However, intense global competitions within the international business environment require firms to employ effective marketing strategies to capture international market shares. (Alansari). A clear and focused international marketing strategy requires firms to understand markets they are intending to target and operate. However, international marketing strategy for legal professionals in the Middle East needs building a strong brand loyalty that is difficult to challenge. (Doole, & Lowe).
Essentially, professional law service firms are built around senior attorneys who have built professional skills, and success of individual attorneys is built not only on the marketing strategy, the success depends on how attorneys market their career. Attorneys possessing a skill set in the international financial market practicing with international firms and operating in multiple geographical locations could market themselves concurrently.
Objective of this paper is to discuss the international marketing strategies for the International Law Firm targeting clients in the Middle East. The presentation will focus on a marketing strategy for an attorney intending to offer expertise in the Middle East. The paper ranks the marketing strategy by their level of importance to assist the law firm to enjoy market advantages in the Middle East.
1) Participating at industry events in the Middle East
The most important marketing strategy for the law firm is to participate at industry event in the Middle East. Essentially, participating in the industry events is an effective marketing strategy to establish a strong market presence in the legal services in the Middle East. Typically, the legal professions continue to grow because of the presence of many financial companies in the regions. Over the years, the Middle East has become a dynamic spot for many financial institutions, and many industry leaders and senior executives are likely to attend the industry events. Some financial institutions such as JP Morgan, HSBC Investment bank, Nomura Securities, Warburg Dillon Read, and Dresdner Kleinwort Benson are increasingly expanding their financial portfolios in the region. Thus, participating in the industry events will assist our law firm to develop a strong brand portfolio in the region. By participating in the industry events in the Middle East, our law firms will be known among the large and medium financial institutions in the Middle East.
2) Articles published in Industry Journals
Articles published in industry journals are another marketing strategy that out law firms will employ to enjoy marketing advantages in the region. For example, our company should publish several articles on corporate finance, and financial market in the Middle East. Moreover, our firm could publish series of legal and financial market articles that cover Islamic financial laws on:
Trends, fundamentals, as well as opportunities in Islamic Finance.
Islamic financial markets and banking practice in the Middle East.
Financial planning
Corporate finance,
Risk management,
Housing finance.
Investment strategy,
Islamic social finance,
Regulatory and legal issues.
Publishing articles on Islamic financial market on different industry journals will assist our firm to attract market attentions. Moreover, the marketing strategy will assist our company to build a corporate brand identity in the region, which will assist in enjoying market advantages. The strategy will also assist in targeting large financial institutions such as Deutsche Bank, and International Investment entering complex financial transactions in the Middle East and large and medium funds such as International Private Equity Funds, as well as asset managers investing in the Middle East. These financial institutions will require the services of law firm with skills set in financial transactions to prepare legal documents that will protect them during financial institutions. Thus, our law firm will take the advantages of the legal services required by these financial institutions to expand our market advantages. However, these articles will be published in English; and we will use a skilled translator to translate our published articles into Arabic.
3) General press coverage (Financial Times or Khaleej Times
Our law firm will also use the general...
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