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Global Marketing Mix Strategy

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Global Marketing Mix Strategy Global Marketing Mix Strategy Presentation Transcript

  • Global Marketing Mix Strategy
  • Global Marketing Mix Strategy
    • How far should each aspect of the marketing mix
    • Price
    • Products
    • Promotion
    • Place
    • be standardised or varied locally?
  • Global Marketing Mix Strategy
  • Marketing a standard product to a global market using uniform marketing programmes Replicated its direct selling practices across the world Ideal Global Marketing Strategy Athletic, Style, Comfort IDEAL GLOBAL MARKETING STRATEGY Global Market Segments Global Product
      • Marketing mix locally adapted for each national market
    Ideal National Marketing Strategy Caters to Indians in India & Abroad Caters to rural & low income segments in India National Market Segments National Product IDEAL NATIONAL MAKETING STRATEGY
  • Standardisation of products but adaptation of other elements of the mix Hybrid I Marketing Strategy Customized for Indian audience Launched with different names in different countries HYBRID I MARKETING STRATEGY National Market Segments Global Product
  • Standardisation of one key element of the mix but adaptation of others Retailing formula & Marketing activities are same throughout the World & product offerings modified to suit local tastes. Hybrid II Marketing Strategy Global Market Segments National Product HYBRID II MARKETING STRATEGY
    • Most important element of the mix
    • Must consider:
      • product range
      • new product development
      • rate of acceptance
      • product standardization or variation
      • packaging, branding, after sales service
    Product
    • Global price or local variations?
    • Global pricing
      • Advantage:
      • Simple, fair, removes possibility of grey markets.
      • Disadvantage:
      • Not responsive to local demand and market conditions
    • Local pricing
      • Advantage:
      • Market responsive, maximises revenues
      • Disadvantage:
      • Grey markets
    Price
    • All forms of marketing communication that seek to influence buying behaviour
    • Standardisation of promotion has advantages –
    • Economies of scale, uniform brand and image, spread of good ideas,
    • universal standards, use of global media
    • Disadvantages –
    • Cultural, linguistic, legal differences, high costs of co-ordination, ‘not
    • invented here’ syndrome
    Promotions I
    • Factors determining extent of standardised promotion:
      • corporate strategy - is it global?
      • uniformity of the product
      • how global is the brand?
      • legal factors
      • cultural factors
      • socio-economic conditions
      • uniformity of competitive situation
    Promotions II
  • Thank You