GLOBAL MARKETING

1. Global marketing is defined as the process of adjusting the
marketing strategies of your company to adapt to the conditions of
other countries. Of course, global marketing is more than selling
your product or service globally. It is the full process of planning,
creating, positioning, and promoting your products in a global
market.
Global marketing is “marketing on a worldwide scale reconciling
or taking commercial advantage of global operational differences,
similarities and opportunities in order to meet global objectives".
Global marketing is also a field of study in general business
management that aims to market products, solutions and services to
customers locally, nationally, and internationally.
International marketing is the extension of an organization's
product or services into another country. This can be achieved by
exporting a company's product into another location, or foreign
direct investment into the target country. The development of
the marketing mix for that country is then required.
Internationalization and International Marketing meets the needs of
selected foreign countries where a company's value can be exported
and there is inter-firm and firm learning, optimization, and
efficiency in economies of scale and scope.
Evolution toglobalmarketing
The international marketplace has been transformed by shifts in
trading techniques, standards and practices. These changes have

2. been reinforced and retained by new technologies and evolving
economic relationships between the companies and organizations
involved in international trade. The traditional ethnocentric
conceptual view of international marketing trade is being
counterbalanced by a more global view of markets.
Domestic Marketing
Domestic marketing is the limited commercialization of goods and
services to a single, home country.
The advantages of domestic marketing include familiarity with the
extent of political risk, the quality of skilled human resources and of
natural resources, and the ramifications of existing and likely
legislation in relevant areas such as safety, hygiene, employment,
and ownership of capital.
These markets are restrained by the laws and regulations of the
country. Domestic marketing is typically organized in the
headquarters.
Global Marketing
Global marketing requires a firm to understand the requirements
associated with servicing customers locally with global standard
solutions or products, and localizes that product as required to
maintain an optimal balance of cost, efficiency, customization and
localization in a control-customization continuum to meet local,
national and global requirements.
Global marketing and global branding are integrated. Branding
involves a structured process of analysing "soft" assets and "hard"
assets of a firm's resources. The strategic analysis and development
of a brand includes customer analysis (trends, motivation, unmet
needs, segmentation), competitive analysis (brand image/brand
identity, strengths, strategies, vulnerabilities), and self-analysis

3. (existing brand image, brand heritage, strengths/capabilities,
organizational values).
Global brand identity development is the process of establishing
brands of products, the firm, and services locally and worldwide with
consideration for scope, product attributes, quality, uses, users and
country of origin; organizational attributes; personality attributes,
and brand customer relationship; and importantly
symbols, trademarks metaphors, imagery, mood, photography and
the company's brand heritage.
A global marketing and branding implementation system distributes
marketing assets, affiliate programs and materials, internal
communications, newsletters, investor materials, event promotions
and trade shows to deliver an integrated, comprehensive and focused
communication, access and value to the customers.
Elements ofGlobalMarketing
Product
The product must deliver a minimum level of performance. [6]
A global company must be able to tweak elements of a product for
different markets. For example, Coca-Cola uses two formulas (one
with sugar, one with corn syrup) for all markets.
Luxury products, high-tech products, and new innovations are the
most common products in the global marketplace because they are
easier to market due to a lack of traditional cultural values attached
to their meanings.
Price
The price of a product varies based on factors such as costs of
production, target segment, and supply-demand dynamics. There

4. can be several types of pricing strategies, each tied in with an overall
business plan. Pricing can also be used as a demarcation, to
differentiate and enhance the image of a product.
Price will always vary from market to market.
Place
It refers to the point of sale.
How the product is distributed is influenced by how the competition
is being offered to the target market. With Coca-Cola, not all cultures
use vending machines. In the United States, beverages are sold by
the pallet via warehouse stores. In India, this is not an option.
Placement decisions are also affected by the product's position in the
market place.
Promotion
Activities undertaken to make the product or service known to the
user and trade including advertising, word of mouth, press reports,
incentives, commissions and awards to the trade. It can also include
consumer schemes, direct marketing, contests and prizes.
People
A firms’ arguably most valuable asset are its people. The personality
forms the company's brand personality which engages with
customers (customer experience), vendors, partners, shareholders
and other "publics." The firm's core values, (integrity, honesty,
leadership, social responsibility, drive for profit, drive for quality
products and services) are reasons why customers choose to buy
from one form or another.

5. Processes
Processes for creative and delivering products and services have
inherent value. It is an intangible asset that improves the quality of
the product and service if well-designed.
Physical Evidence
In today's digital economy, may firms provide non-physical services
over the internet and companies' products are Software-as-a-Service
(Saas). Historically, banks have many retail locations to signal the
financial strength of their institution. Retail locations for consumer
brands give evidence of the popularity and reach of their brands.
Because there is a requirement for trust before a customer buys from
a company, some companies without brick and mortar understand
that they must provide some proof of existence that their software
company is real, significant or legitimate.
Advantages and disadvantages
Advantages
The advantages of global marketing include:
 Economies of scale in production and distribution.
 Lower marketing costs.
 Power and scope.
 Consistency in brand image.
 Ability to leverage ideas quickly and efficiently.
 Uniformity of marketing practices.
 Helps to establish relationships outside of the 'political arena'.

6.  Helps to encourage ancillary industries to be set up to cater for
the needs of the global player.
Disadvantages
 Differences in consumer needs, wants, and usage patterns for
products.
 Differences in consumer response to marketing mix elements.
 Differences in brand and product development and
the competitive environment.
 Differences in the legal environment, some of which may conflict
with those of the home market.
 Differences in the institutions available, some of which may call
for the creation of entirely new ones (e.g. infrastructure)
 Differences in administrative procedures.
 Differences in product placement.
 Differences in the administrative procedures and product
placement can occur.