Gm def


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Gm def

  1. 1. Every successful company has a marketing department that works diligently to make thecompany known throughout their country and eventually the world. Global marketing is simplymarketing to the entire world and destroy the differences between barriers and meet theexpectations of varieties of consumers all over the world. Marketing consists of establishingrelationships with others through planning, execution and successful distribution of goods tosatisfied consumers.Some of the most successful companies to achieve global marketing include auto manufacturerssuch as Toyota, Ford, Honda, General Motors, and Volkswagen. These companies all started assmall entities in their own countries and eventually achieved successful global implementation.New companies have modern marketing tools to help them achieve successful global marketing.The internet and e-commerce immediately makes a company a global business. Since the internetis a world-wide entity, a small company based in South Dakota can easily reach customers inChina with the click of a mouse. Customers can literally come from anywhere.Successful global marketing was not achieved overnight for companies. Global marketing is aprocess just like other aspects of marketing. Usually a company starts out with a small exportbase. They work hard to achieve domestic marketing first and then they begin tackling the rest ofthe world. Some companies tackle the small export base and they dont get any further fromthere. Global marketing is more than just exporting goods to another country; it is successfulimplementation of a product into a foreign trade market. Marketing decisions are made at thehome front and sent overseas and expected to sink or swim. The foreign customer is verydifferent from the domestic customer. Language barriers, customs paperwork, and shipping costsdeter many companies from becoming global entities.Global Marketing Global Marketing Strategies This web site talks about how to create a marketing strategy for a global market. It talks about the importance of cultural recognition and how to reach customers in foreign countries. Global Marketing Negotiator This web site provides great information on how to negotiate in a foreign market. It discusses international marketing tools and how a company can achieve success on a global level. FAO Home This is a great article that discusses global marketing. It discusses the importance of following cultural changes and recognizing the different advertising strategies that need to be followed in global marketing. Global Marketing provides a great definition of Global marketing. It talks about the advantages and disadvantages of global marketing and how companies can become global entities. It also talks about the "Four Ps" of marketing and how to use them on a
  2. 2. Cultural ignorance could hinder a company from global marketing. One of the best ways totarget the foreign market is to create products in the country that are based on the needs of thelocal customers. The marketers that create local product development are called polycentric. Apolycentric marketer understands that each country has different needs and they mustmarket to the country differently than they would in their country.The world is one big market for companies to take advantage of. There must be marketers ineach country that will help the company meet the needs and expectations of all the countries inwhich they sell their products. A good example of a successful global marketing company is theCoca-Cola Corporation. The soda beverage remains the same, but the can changes. Theadvertisements are different in each country. Instead of being intolerant to the needs of eachcountry, they have translated their logo and brand name to suit the needs of each country inwhich they market. The goal of global marketing is to become like the Coca-Cola Corporationand sell the same product to everyone in the world, with perhaps just one or two small changes tothe product that will suit the needs of everyone in the world.There are 4 simple steps a company must establish to start global marketing.First, a company needs to achieve domestic dominance. If a company is trusted at home, it iseasier to integrate their focus into the global market. A company that only focuses on marketingto their own country will eventually run out of people to market to and lose its place. Somecompanies can remain successful domestic entities because the demand for the product on thehome front is high. Dairy farmers are a great example of domestically oriented organizations.Second, a company must have a home focus with exporting. The products and message from thecompany should be based on home values, but it should be able to cross country lines andincorporate the message to foreign markets.Third, marketing to global markets must be mixed with overseas organizations. Changing themarketing strategy to become a polycentric strategy is the best way to adapt to the needs of allthe potential customers throughout the world.Fourth, the value of the product must be on demand in a global market. The company needs tofocus on serving the needs over customers throughout the world; this is achieved by targetedmarketing to individual countries and determining the customer needs in each country. Globalstrategies must be developed to recognize the financial aspect of each consumer and respond to
  3. 3. different marketing ploys. Global marketing is unpredictable and marketers must be aware ofdifferent opportunities and be willing to adapt and create new products for global demands.A good marketer follows the "Four Ps" of marketing. Product, price, placement, andpromotion are the "Four Ps" of marketing and successful implementation of each "P" willtransform even the smallest of companies into a global entity. Going back to the Coca-Colaexample, they have reached successful global implementation by creating the same product forevery country with minor changes to the packaging. The design of the can or bottle is exactly thesame, only the language on the can or bottle changes. The bottle and can is a unique brand on itsown.To achieve global marketing, marketers must recognize the different price variables for eachcountry. While $2.99 may not be expensive in the United States, that can be quite expensive forCambodia. The price will always vary for each market because it is affected by several variables.Price is affected by the cost of the product development, cost of manufacturing, delivery, andcompetition. The profit margin for a product will change depending upon the goal of thecompany. If marketers simply want to be known world-wide, they may not care how muchmoney they make off a product in every country, as long as the cash flow remains positive.Products must be marketed differently to each country. A billboard with a Victorias Secretmodel may be okay in the United States, it would be quite offensive in India. The product mustbe distributed differently in each country. Marketers must consult with local marketers anddiscuss the needs of the target market. The placement of product promotion and distribution areimportant aspects of the overall global marketing strategy. Advertising is the most expensiveportion in successful global marketing. A global corporation will seek to find ways to reducecosts and still reach their target market. If a company decides they want to use the samemarketing campaign to the entire world, they must deliver the message in a relevant, engagingfashion.Technology-driven corporations are one of the easiest companies to market on a global scale.Technology usually is not culturally bound. Computers and software applications are developedwith a global scale in mind. Since technology companies spend millions and sometimes billionsof dollars researching and developing products, it forces the organizations to recoup the costfrom a global market. Marketers of technology firms have larger marketing budgets than othercompanies and they are able to use international advertising.
  4. 4. World-Wide Marketing Global Marketing Strategy This web site provides great information on global marketing strategies and how a company can achieve global success with a few changes. It discusses if it is possible to reach a foreign market with the same product and how to do it. Global Marketing Strategies Global Marketing Strategies is one of the most successful companies for global marketing. This is their official web site where you can download information on global marketing and take your company to the world.Branding a BusinessBuilding relationships with foreign companies is one of the best ways to achieve globalmarketing. Foreign companies understand the needs of the local market and are able to provideadvice on advertising ideas and market research. Using proven results and methods to reach aforeign customer will save your company time and money. Market research of foreign marketswill discusses the needs of product and company branding, attention flow, and emotional need.The international forms of communication are based on visual elements. For example,McDonalds is a great example of a company that has achieved successful global marketing. Theyellow and red "M" can easily be identified in practically any country and verbal elements do notexist.Once a company establishes global marketing, the advertising costs will slowly start to be
  5. 5. reduced over time as people recognize the company and product. The scope of the companywill increase and the demand will also become larger. A company will gain international powerand can create uniformity amongst marketing practices and procedures. Global marketing canalso help to establish relationships. While some countries may have a particular impression ofthe United States, they may accept the products we produce. The Apple iPod is a great exampleof a product that has crossed into a world-wide product. Countries that may have problems withthe United States are sill willing to buy the iPod because it is a good product with successfulglobal marketing.As with any consumer, global market demands are different. Companies will need to adapt theirproduct and services to meet the needs and wants of individual countries. It is always importantto do target research on countries before you begin global marketing. There are legal elements toconsider with global marketing that need to be taken into consideration before the marketing planeven begins. Product placement and product development need to be considered heavily by themarketing team before they jump into the goal market. The best way to start global marketing isto establish a good web site where people can go and research the company before the ads beginhitting the billboards in foreign markets.Globalization Globalization and India Globalization is the process of rapid integration of countries and happening through greater foreign trade and foreign investment. It refers to increased possibilities for action between and among... Comparison of Indian and American stock markets Investing in Foreign stock exchanges or in American? Sensex reached 500 marks from its base point 100 with in seven years where as Dow Jones took 46 long years to achieve it . Again journey of Sensex from 500 to 1000 points took only four years but D