global marketing

Examples of global marketing in the following topics:

• Changes in Pricing

  • In the global marketing mix, pricing factors are manufacturing cost, market place, competition, market condition, and quality of product.
  • The goal of pricing in global marketing strategies falls under three criteria:
  • Like national marketing, pricing in global marketing is affected by the other variables of the marketing mix.
  • Placement, product and promotion work in concert with pricing in the global marketing mix.
  • Summarize how proper pricing from a global marketing perspective impacts a company

• The Relationship Between Product and Promotion

  • Product and promotion in global marketing can work together effectively with proper market research and communication techniques.
  • With the rapidly emerging force of globalization, the distinction between marketing within an organization's home country and marketing within external markets is disappearing very quickly.
  • Coca-Cola is one strong example of global marketing.
  • While global promotion enables global brands to engage in uniform marketing practices and promote a consistent brand and image, marketers also face the challenge of responding to differences in consumer response to marketing mix elements.
  • Illustrate the relationship between product and promotion from a global marketing perspective

• Changes in Placement

  • Successfully positioning products on a global scale requires marketers to determine the target market's preferred combination of attributes.
  • The global marketing mix comprises four main elements: product, price, placement and promotion.
  • Global marketing presents more challenges compared to domestic or local marketing.
  • In addition to where products are placed, global marketers must consider how these products will be distributed across the different shopping venues unique to that particular country or market.
  • Examine the rationale behind product placement from a global marketing perspective

• Global Marketing Standardization

  • In 1983, Theodore Levitt, the famous Harvard marketing professor wrote an article entitled, "The Globalization of Markets".
  • Although, global marketing has its pitfalls, it also has some great advantages.
  • Too often, executives view global marketing as an either/or proposition-either full standardization or local control.
  • In applying the global marketing concept and making it work effectively, flexibility is essential.
  • The big issue today is not whether to go global, but how to tailor the global marketing concept to meet the specific needs of each business.

• The Global Economy

  • Increased global competition, financial flows and internet technologies are some of the driving forces behind global marketing strategies.
  • At the global marketing level, global marketing plans must be tailored so that companies speak in many voices rather than just one.
  • Brands conduct extensive research and consider numerous market variables when developing global marketing plans.
  • Some of the challenges to marketing in a global economy are:
  • Outline the changes that are included in a shift to a global marketing perspective

• Global Marketing and the Internet

  • The Oxford University Press defines global marketing as "marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives. " The emergence of the Internet in the early 1990s and its gradual commercialization through the early 2000s would coincide with the globalization of media and cultural products.
  • This same immediacy applies to global marketing, as it allows brands to reach consumers in various ways and offer a wide range of products and services simultaneously.
  • One of the biggest challenges of global marketing is not only communicating a consistent message and brand image, but developing a deep understanding of the cultural differences that separate consumer markets from one another.
  • For example, social networking websites and personalization features can offer valuable information for global marketers looking to access hard-to-reach and overseas markets.
  • Translate the use of the Internet to marketing on a global level

• Standardization and customization

  • In 1983, Harvard marketing professor Theodore Levitt wrote an article entitled, "The Globalization of Markets", and nothing about marketing has been the same since.
  • "The Globalization of Markets. " Harvard Business Review.
  • Although global marketing has its pitfalls, it can also yield impressive advantages.
  • In applying the global marketing concept and making it work, flexibility is essential.
  • The big issue today is not whether to go global, but how to tailor the global marketing concept to fit each business and how to make it work.

• Global marketing: assessing potential markets overseas

  • Global marketing: assessing potential markets overseas Case: Toyota has a vehicle for every market
  • One of the inevitable questions that surfaces concerning global marketing is: how does global marketing truly differ from domestic marketing, if at all?
  • There has historically been much discussion over commonalities and differences between global and domestic marketing, but the three most common points of view upon which scholars agree are the following.
  • Consumer behavior diverges across country lines with increased wealth, globalization, and technology; it does not converge (De Mooij, 2005).
  • This is an important distinction when analyzing the creation, perception, and trends in global branding.

• Global Impacts

  • The 2007-2009 economic collapse was damaging not only to the U.S. but also global markets, driving the global economy into recession.
  • Modern markets are dependent upon one another across national borders, where global trends in economic growth and well-being will have a dramatic impact on national economic well-being and vice versa.
  • The speed in which the market decline spread across the globe underlines just how far globalization and international interdependence has come, with GDP growth numbers in 2009 already demonstrating substantial losses across the map (see ).
  • As this map illustrates, many international markets fell rapidly into decline as a direct result of the U.S. sub-prime mortgage disaster.
  • It is quite clear in this graphic, the global GDP growth dropped dramatically following the U.S. crisis, pitching the entire global economy into a recession.

• Global Strategy

  • Global strategy, as defined in business terms, is an organization's strategic guide to pursuing various geographic markets.
  • Global strategy, as defined in business terms, is an organization's strategic guide to pursuing various geographic markets.
  • A global strategy should address the following questions: What should be the extent of an organization's market presence in the world's major markets?
  • Global strategies require firms to coordinate tightly their product and pricing strategies across international markets and locations; therefore, firms that pursue a global strategy are typically highly centralized.
  • With global markets in mind, strategic managers must expand their perspective and use varied models to generate different strategies for different places.