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Global Marketing Mix Strategy
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Global Marketing Mix Strategy

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  • 1. Global Marketing Mix Strategy
  • 2. Global Marketing Mix Strategy How far should each aspect of the marketing mix • Price • Products • Promotion • Place be standardised or varied locally?
  • 3. Global Marketing Mix Strategy
  • 4. IDEAL GLOBAL MARKETING STRATEGY Global Market Segments Global Product 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
  • 5. National Market Segments National Product IDEAL NATIONAL MAKETING STRATEGY 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
  • 6. HYBRID I MARKETING STRATEGY National Market Segments Global Product 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
  • 7. Global Market Segments National Product HYBRID II MARKETING STRATEGY 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
  • 8. • 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
  • 9. 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
  • 10. 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
  • 11. 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
  • 12. Thank You