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Advantages Of Global Marketing

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Advantages of Global Marketing A global marketing strategy can expand the consumer base and improve the company reputations. It just one component of the global business strategy, and should be planned carefully taking into account every aspect of the different markets in the country in which the company hope to do business. The global marketing strategy of the companies must have concrete goals and a clear vision about the strengths and weaknesses present in each overseas market, and how they will deal with them or make them to the company advantage. There are many advantages of global marketing strategy. The first advantage of global marketing strategy is the company will grow and developed faster. The effective global marketing strategy …show more content…

Every company that considering taking their product or service global need to understand the benefits that their get when going global. The plan for entering global markets must be different from the domestic marketing strategy due to the variations in the culture, customs, language and needs of customers and potential customers of the company. The global company usually retains the capability, reach, knowledge, staff, skills, insight, and expertise to deliver value to customers worldwide. It’s important to make detailed market research regarding demographics, as well as the need and level of demand for the company product or service in a particular area before going global. For the companies who want to market their products globally, they should recognize a marketing mix that works in the domestic market may not have the same success in another market. A global company with caution must research the various markets, and willing to make adjustments to the product and its messaging whenever required. Sometimes there will be a change of name. For example Chevy Nova did not practice in Spain means “no go”. Sometimes it also involves the change of the packaging, for example in America, Gerber baby food has a cute baby on a label to represent the brand but in some countries buyers expect an image to represent the contents of the jar and were appalled by the image. Any company involved in global marketing operations dealing with some of the most important strategic decisions. At the outset, the results basically do companies need to be made for some degree of internationalization. Increasingly, companies will find that the presence of a strong global logic demands that global marketing must be continued for competitive reasons and that it is often not an option strategy. Once done, the company needs to make a decision on where to go, both in terms of

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International Business concepts International business concepts played a major role during my co-op in understanding the international market, Understanding the needs for client, developing business plan for growing company and helping a company to establish its footprints in developed markets. Other international business concepts included Economic geography played a crucial role in understanding different economies, International Marketing in understanding market research techniques, Ethics which helped me to do my work in ethical manner and professional development to perform my duties in professional manner. CONCLUSUION The six week co-op with patient advocacy firm SYNER-G-CARE has imparted me with on hands work experience to work independently and as a team and working in practical environment where I can use of business acumen and my previous market research experience to gain exposure The courses in first semester of International Business program helped me applying some techniques practically like International Marketing.

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Therefore, produces growth in multi-national companies such as, ALDI, Burger King, McDonald’s, The Body Shop and also the Coffee Club. Multi-national corporations advances technology so that the exchange of information between countries is easier as well as providing potential global customers with faster and safer information

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Today we live in a glоbal econоmy in which the time taken for peоple to mоve between continents has been significantly rеduced and in which Internet and other connections make instant connections possible. So to be succеssful these days, even small businesses must plan their marketing strategies to attract cоnsumer interest outside of their local markets. Although there are risks involved, there also are plenty of аdvantages to expanding a business worldwide. If you don’t offer a product on the world market, a competitor probably will. Some types of businesses are more аppropriate than others for global market expаnsion.

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A Familiar organization There are many familiar organizations that have successfully used globalization to expand markets and profitability. One of such organization is Nike Inc. Established in 1964 with the name ‘Blue Ribbon Sports’ (BRS) by Phil Knight and Bill Bowerman, the organization began as a distributor and importer of Japanese running shoes before embarking on a project to design its brand, which has become a household name in sportswear industry (O 'Reilly, 2014). Analyzing ways Nike Inc. has successfully used globalization to expand markets and profitability. There are various ways Nike Inc. has successfully used globalization to expand markets and profitability.

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KETING STRATEGY A marketing strategy is a process or model to allow a company or organization to focus limited resources on the best opportunities to increase sales and thereby achieve a sustainable competitive advantage. Or it is a process or model to allow a company to focus limited resources on the best opportunities to increase sales and there by achieve sustainable competitive advantages. The marketing strategies of Hilton Garden Inn are as follows. Philip Kotler defines marketing as a social process used by the people, individually or in a group to achieve what they want by the creation or exchanging their product details and their values with others.

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In order to be succeed on international market, it’s very important point to define the international strategy. If to define the international strategy: an international strategy is when a company hires a strategy through which its goods and services are sold out of its local market. Enlarging into international markets allows potential opportunities to companies. Let’s see the IKEA’s international strategy in the following Figure 1. IKEA has expanded from a small, family-owned home furniture corporation into a global retailer within 385 stores in 48 countries, during its 72-year history.

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Global strategy is an international strategy that implements by a company which they doing their business in different countries. Internationalization is a process for IKEA expand its business and it was quite important because through the internationalization process, IKEA was able to gain a broader area of marketplace to sales their products, which will lead to profit and revenue increased and new market places existed mean new opportunity for IKEA to improve their product in order to meet the customers’ needs. The first reason that IKEA should go to international level is because the Swedish market is small and no enough for IKEA to expand itself. This is important for IKEA because the small market mean low opportunity, lower profit and

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International marketing strategy is a combination of marketing principle that could be used to formulate a marketing strategy for specific products and services within one or more countries to extend or internationalise the company. The research paper is based on the international marketing strategy of Nike Inc. (a Sports Apparel retail company working internationally) to help the management of the company shortlist and identify potential market for them to expand their business. It utilised macro and micro analysis of the sports retail market to identify the potentials of the industry that would help them to increase their business performance in the international marketplace. Macro Factors PESTLE It is noted that PESTLE is one of the most important and effective that often used by organisations in order to assess different macro factors that influence their activities in a negative manner (Li, et al., 2014).

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Besides, globalization can not be successful without adaptation because they go hand in hand and relate to each other. Basically, numerous American companies use globalization as a goal to achieve such as Apple, McDonalds and so forth. Starbucks’ Globalization and Adaptation is an example on how a successful American business, a global brand achieved this goal. As can be seen in this case, Starbucks brings its taste, its style, its impact to overseas but still always ready for adapting others’ taste, heritage and culture.

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Market All countries have a very different lifestyle. Having a global strategy does not mean that a company should serve the entire globe. Critical choices include deciding where to spend resources and where to hang back. The usual approach is to start by picking regions and then countries within them. Market data might be more readily available in situations where the firm is grouping markets according to existing structures and frameworks.

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Definition of emerging market In terms of investors emerging markets are used to describe developing countries, in which investment would be expected to achieve higher returns but it would be ac-companied by a higher risk. Emerging markets are between developed markets. “Even index providers cannot agree on precisely what constitutes an emerging mar-ket. MSCI, the US company that introduced the benchmark MSCI Emerging Market index in 1988, defines an emerging market in terms of the number of quoted compa-nies of a certain size and “free float” (the proportion of shares available for ordinary investors to buy), plus a market’s openness to foreign ownership and capital.

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Marketing strategies is a thoughtful analysis of a product and the target market to design a series of strategies focusing on the competencies while ensuring to overcome the weaknesses of the product. The core purpose behind devising marketing strategies for any product is to fulfil the marketing objectives or goals set by the organization for the promotion and sales of a product. Chanel is one of a kind brand which every individual is aware of. A high end line of beauty products particularly their perfumes have made the brand spark in the cosmetic industry. The reasons for such high popularity of the product besides the high quality, is the effective marketing of the product.

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