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

• Changes in Promotion

  • Local languages, colors, and religious beliefs all impact how global marketers promote their products and services in different countries.
  • Ultimately, at the global marketing level, a company trying to speak with one voice is faced with many challenges when creating a worldwide marketing plan.
  • Thus, global companies must be nimble enough to adapt to changing local market trends, tastes, and needs .
  • Global marketers can use the following approaches when executing global promotional programs: exporting executions, producing local executions, and importing ideas that travel.
  • Analyze the rationale used to promote products within a global marketing mix

• Global Considerations in Branding and Packaging

  • At the global marketing level, a company needs to launch appropriate marketing plans so results can be achieved across multiple countries.
  • Ultimately, at global marketing level, a company trying to speak with one voice is faced with many challenges when creating a worldwide marketing plan.
  • Unless a company holds the same position against its competition in all markets (market leader, low cost, etc. ), it is impossible to launch identical marketing plans worldwide.
  • Effective global advertising techniques do exist.
  • Discuss how language, colors, customs, aesthetics, and placement affect global branding and packaging in products

• Are Global Corporations Beneficial?

  • An MNC is a company that operates in two or more countries, leveraging the global environment to approach varying markets in attaining revenue generation.
  • MNC operations often attain economies of scale, through mass producing in external markets at substantially cheaper costs, or economies of scope, through horizontal expansion into new geographic markets.
  • However, despite the general opportunities a global market provides, there are significant challenges MNCs face in penetrating these markets.
  • Through effectively maintaining ethics and a strong public image, companies should create strategic business units with strong international leadership in order to capture value in a constantly expanding global market.
  • Discuss the benefits and challenges of global corporations from a marketing perspective

• Service Marketing Management and Metrics

  • Service marketing management oversees the implementation of marketing programs, while metrics measure their effectiveness and performance.
  • Marketing management is a business discipline which is focused on the practical application of marketing techniques and the management of a firm's marketing resources and activities.
  • Rapid globalization has led service providers to market beyond the borders of their home countries, making marketing management and metrics and integral part of implementing and measuring an effective marketing strategy.
  • Overseeing the successful development and execution of the marketing plan falls under service marketing management roles.
  • It is the responsibility of marketing managers--in the marketing department or elsewhere--to ensure that the execution of marketing programs achieves the desired objectives in a cost-efficient manner.