Global marketing involves adapting a company's marketing strategy to different countries in order to reach global objectives. It requires reconciling differences and identifying opportunities across countries. Effective global marketing strategies coordinate efforts across multiple regions. They establish uniform branding and messaging while accounting for local conditions and tastes. Global expansion can increase brand awareness, provide new revenue opportunities, and help companies learn and improve through international experience.
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Global Marketing: Reconciling Differences Worldwide
1. Global
Marketing
Marketing on a worldwide scale
reconciling or taking global operational
differences, similarities, and opportunities
in order to reach global objectives.
By: Kayleigh Davis
2. Introduction
1. Global marketing is described as the process of adapting your company's marketing strategy to get
used to other countries' conditions. International marketing, of course, is more than selling your
product or service abroad. It is known as the process of planning, creating, positioning and promoting
your good or service in a global market.
2. Big corporations typically have overseas offices for nations to which they sell. Today, even small
companies can meet customers everywhere in the world through the proliferation of the internet. If a
company decides not to grow internationally, foreign companies that are expanding their international
presence will face domestic competition. The amount of competition that this causes pretty much
makes it a requirement for businesses to go international.
3. In order to make decisions about which country to work with, companies consider four things
a. Assessing the general economic environment
b. Assess the country’s infrastructure.
c. Determine whether the country has a political and legal environment that favors business.
d. Know of the country’s cultural and sociological differences.
3. Global Marketing Strategy
1. A Global Marketing Strategy is a strategy that encompasses countries from several parts of the world
and aims at co-ordinating a company’s marketing efforts in the markets of these countries.
2. A GMS does not cover all countries but it spreads across multiple regions. A typical regional breakdown
is: Africa, Asia, the Pacific, Europe, and the Middle East, Latin America, and North America. A regional
marketing strategy is one that coordinates the marketing effort in one region.
3. Global marketing strategies are actually important parts of a global strategy. In order to create a good
global marketing strategy, you must be able to answer: “What I am trying to achieve in an international
market?” “What are my company’s strengths and weaknesses for that market?” “How can I counter
challenges in the market?” “What potential will I have in this market?”
4. Beyond its breakdown per country or region, a global marketing strategy almost always consists of
several things: (1) uniform brand names; (2) identical packaging; (3) similar products; (4) standardized
advertising messages; (5) synchronized pricing; (6) coordinated product launches; and (7) harmonious
sales campaigns.
5. In general, the two most popular global marketing strategies are: creating a strong and consistent
brand culture and marketing as if there are no borders.
https://www.cleverism.com/global-marketing-strategies/
4. The Benefits of Global Marketing
Third
It increases consumer
awareness of your brand
Fourth
It can reduce the costs and
increase your savings
First
It can improve the
effectiveness of the
product or service
Second
Strong competitive
advantage
https://www.cleverism.com/global-marketing-strategies/
5. What does it do?
● Creates new revenue
opportunities
● Increases brand
awareness and reputation
● It widens your chance to
learn and improve your
products
Why Global Expansion Matters
https://sumo.com/stories/global-marketing-strategy
6. Customer acquisition
The connection between advertising and customer relationship management to acquire new customers.
Of global marketers employ
paid display acquisition
techniques to attract new
customers
More than half of global
retailers allocate 30% of their
digital budgets on paid display
acquisition techniques
Of global marketers feel
identifying shoppers truly
interested in their products is
very challenging.
64% 30% 61%
7. Market Entry Strategies
A variety of different ways a company can enter a foreign market:
DIRECT EXPORTING
Selling directly into the
market you have chosen
using your own resources.
LICENSING
A firm transfers the rights
to the use of a product or
service to another firm.
FRANCHISING
Works well for firms that have
a repeatable business model
that can easily be transferred
into other markets.
PARTNERING
Partnering can take a variety of
forms from a simple co-
marketing arrangement to a
sophisticated strategic alliance
for manufacturing.
JOINT VENTURES
Joint ventures are a particular
form of partnership that
involves the creation of a third
independently managed
company.
BUYING A COMPANY
This entry strategy will
immediately provide you the
status of being a local company
and you will receive the
benefits of local market
knowledge.
http://www.tradestart.ca/market-entry-strategies
9. GLOBAL TRADE
Tariffs and quotas limit global trade. Because of this, the World
Trade Organization was formed in 1995 to help reduce trade
barriers and address other global trade issues. Currently one
hundred sixty-two member countries account for over 95% of
the world's trade. There have been many efforts to encourage
trade by developing free trade zones by the European Union, the
Central American Free Trade Agreement and the Union of South
American nations. In 1994, the North American Free Trade
Agreement, often referred to as NAFTA, was established
between the United States, Canada and Mexico. NAFTA has
eliminated trade restrictions between the three countries. As the
global economy continues to be more integrated, global trade
opportunities continue to be more and more important.
10. 01 TRIPLED TRADE
In 2017, the act has more than tripled
trade between Canada, Mexico, and the
United States since it was enacted.
The agreement reduced and eliminated
tariffs.
SUPPRESSED WAGES
Companies threatened to move to
Mexico to keep workers from joining
unions. Without the unions, workers
could not bargain for better wages.
01
CREATED JOBS
According to a 2010 report, U.S. free trade agreements—the
lion's share of which stemmed from the NAFTA agreement—
directly supported 5.4 million jobs, while trade with these
countries supported 17.7 million.
02
PUT MEXICAN FARMERS
OUT OF BUSINESS
NAFTA put Mexican farmers out of
business. It allowed U.S. government-
subsidized farm products into Mexico.
Local farmers could not compete with
the subsidized prices.
02
INCREASED ECONOMIC
OUTPUT
The U.S. International Trade Commission
found that that full NAFTA implementation
would increase U.S. growth by as much as
0.5% a year.
03 BAD WORK CONDITIONS
Unemployed Mexican farmers went to work in
substandard conditions in the maquiladora program.
Maquiladora is where United States-owned
companies employ Mexican workers near the border.
They cheaply assemble products for export back into
the United States.
03
NAFTA PROS & CONS
PROS CONS
https://www.thebalance.com/nafta-pros-and-cons-3970481
11. Global Marketing Examples
STARBUCKS
Starbucks adjusts its menu for
local tastes. For Hong Kong, they
have Dragon Dumplings, for
example. The company has had a
wide reputation for the
engagement of local cultures.
McDONALD’S
McDonald’s tries to bring in some local flavor to
particular menu items. McDonald’s has the
McArabia in the Middle East—this is a flatbread
sandwich. It also introduced France to its
macaroons and included the McSpaghetti in the
Philippines. In Mexico, they have a green chili
cheeseburger and in South Korea, they have
bulgogi burgers.
https://www.cleverism.com/global-marketing-strategies/