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GLOBAL
GLOBAL
MARKETING
MARKETING MRK 2100.800
Elizabeth Moore
Access to New Markets
Competitive Advantage
Innovation and Knowledge Sharing
Talent Acquisition and Retention
Brand Building and Reputation
Globalization Trends
Strategic Partnerships and Alliances
Adaptation to Changing Consumer Preferences
Global marketing
defined as “marketing on a worldwide scale reconciling
or taking global operational differences, similarities and
opportunities in order to reach global objectives"
Importance of Global Marketing in
Today's Business Environment:
Global Marketing Domestic Marketing
Research data is available in a
single language and is usually
easily accessed
Research data is generally in foreign
languages and may be difficult to
obtain and interpret
Many currencies are involved.
Wide exchange rate fluctuations
Market segmentation occurs within a
single country
Business transaction is a single
currency
Market segments might be defined
across the same type of consumer
in many different countries
Components of a Country Market Assessment
General
economic
environment
Market size and
population
growth
Real Income
Transportation
Channels
Communication
Commerce
Internet
Penetration
Power distance
Uncertainty
avoidance
Individualism
Masculinity
Time
orientation
Language,
Religion,
Values, Customs
Tariff
Quota
Exchange
control
Trade
agreement
(evaluation or analysis of a specific country's market conditions)
Marketing Opportunities in BRIC Countries
(Brazil, Russia, India, China)
The BRIC countries have been identified as some of the fastest-growing economies in the world.
Brazil Russia
India
China
Abundant natural resources make Brazil an attractive market
for industries such as agriculture, mining, and energy.
Brazil's infrastructure sector offers opportunities for
companies specializing in transportation, energy, and
construction, supported by government investments in
infrastructure projects.
A global hub for technology and innovation, offering
opportunities for companies in IT services, software
development, and digital solutions. With a large and diverse
population, India's consumer market offers opportunities
for companies in sectors such as retail, FMCG, electronics,
and e-commerce.
China's e-commerce market is one of the largest in the world,
offering opportunities for companies to tap into online retail
and digital marketing. China is a dominant player in global
manufacturing, providing opportunities for companies in
sectors such as electronics, automotive, and consumer
goods.
Strong technology sector with a skilled workforce, offering
opportunities for companies in IT, software development,
and digital services.
Despite economic challenges, the consumer market
remains sizable, providing opportunities for companies in
sectors such as retail, consumer goods, and e-commerce.
Direct investment
Exporting
producing goods in one country
and selling them in another. This
strategy requires the least
financial risk but allows for only
a limited return to the exporting
firm.
involves granting the right to
use a company's business
model and brand name. It is a
contractual agreement
between a franchisor and a
franchisee.
involve forming a new entity
with a local partner to enter a
foreign market, while strategic
alliances involve collaboration
between two or more
companies to achieve common
goals.
refers to collaborative
relationships between
independent firms, though
the partnering firms do not
create an equity
partnership.
a strategy where a company or
individual establishes a
physical presence in a foreign
country by acquiring assets,
establishing subsidiaries, or
investing in local businesses.
This involvement allows the
investor to have a significant
degree of control over their
operations and strategic
direction in the target market.
Market Entry Strategies
Franchising
Joint ventures
Strategic Alliance
least risky
most risky
potentially most lucrative
Global Marketing Strategies
Segmentation Targeting Positioning
Dividing a heterogeneous
market into smaller, more
homogeneous segments based
on certain characteristics.
Types of segmentation:
Demographic
Geographic
Psychographic
Behavioral
Importance of segmentation
in global marketing: Allows
for tailored marketing
strategies to specific
customer groups.
Selecting one or more
market segments to focus on
based on their attractiveness
and fit with the company's
objectives and resources.
Targeting strategies:
Undifferentiated
Differentiated
Concentrated
Micromarketing
Considerations in global
targeting: Cultural
differences, economic
factors, legal and
regulatory environments.
Creating a distinct image and
identity for a product or brand
in the minds of the target
market relative to competitors.
Positioning strategies:
Value-based positioning
Benefit positioning
Competitor-based
positioning
Importance of positioning
in global marketing: Helps
differentiate the brand in
diverse markets and fosters
customer loyalty.
Global Product or Service Strategies
Sell the same product or service in
both the home-country market and
the host country
Sell a product or service similar to
that sold in the home country but
includes minor adaptations referred
to as global-localization.
Sell totally new products or services
#2
#1
#3
Global Pricing Strategies
Local market conditions
Currency exchange rate
Cost of production
Competitive pricing
Government regulations &
tariffd
Market-based pricing
prices based on market demand
Cost-based pricing
Setting prices based on
production costs
Competition-based pricing
Setting prices based on
competitors' prices
Pricing Strategies:
Influencing factors:
Global Distribution Strategies
Global distribution networks form
complex value chains that involve:
wholesalers
exporters
importers
& different transportation
systems.
These extra intermediaries typically
add cost and ultimately increase the
final selling price of a product.
In most developing countries,
manufacturers must go through
many types of distribution channels
to their products to the end users
Global Communication Strategies
Identifying the elements that
need to be adapted to be effective
in the global marketplace
Differences in language, customs,
and culture also complicate
marketers’ ability to communicate
with customers in various
countries.
Major Challenge:
Future Trends in Global Marketing
As markets become increasingly diverse, successful
global marketing will require a deep understanding of
local cultures and preferences. Brands must tailor their
messaging and offerings to resonate with diverse
audiences while avoiding cultural missteps.
Voice Search Optimization
With the rise of voice-enabled devices and virtual assistants,
optimizing for voice search will be crucial for global
marketing success.
Cultural Sensitivity
VR/AR
The integration of VR/AR technologies into marketing efforts
will revolutionize how brands interact with consumers. It
will be used for product demonstrations, virtual shopping,
and brand storytelling.
(Virtual and Augmented Reality)
Personalization & AI Integration
Expect a surge in personalized marketing strategies driven
by AI algorithms. Tailoring content and experiences to
individual preferences will become the norm, enhancing
customer engagement and loyalty.
In today's interconnected world, understanding and leveraging global
marketing strategies are essential for businesses to thrive in diverse markets.
Throughout this presentation, we explored various components of effective
global marketing:
Country Market Assessment
Marketing Opportunities in BRIC Countries:
Market Entry Strategies
Global Marketing Strategies
Global Product or Service Strategies
Global Pricing Strategies
By embracing these strategies, businesses can unlock new growth
opportunities, expand their customer base, and establish a strong presence in
the global marketplace.
Conclusion:
Elizabeth Moore
Charles V. Richardson
MRK 2100.800
elizabeth.moore4@sinclair.edu
Thanks for viewing!!

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Navigating Global Markets and Strategies for Success

  • 2. Access to New Markets Competitive Advantage Innovation and Knowledge Sharing Talent Acquisition and Retention Brand Building and Reputation Globalization Trends Strategic Partnerships and Alliances Adaptation to Changing Consumer Preferences Global marketing defined as “marketing on a worldwide scale reconciling or taking global operational differences, similarities and opportunities in order to reach global objectives" Importance of Global Marketing in Today's Business Environment:
  • 3. Global Marketing Domestic Marketing Research data is available in a single language and is usually easily accessed Research data is generally in foreign languages and may be difficult to obtain and interpret Many currencies are involved. Wide exchange rate fluctuations Market segmentation occurs within a single country Business transaction is a single currency Market segments might be defined across the same type of consumer in many different countries
  • 4. Components of a Country Market Assessment General economic environment Market size and population growth Real Income Transportation Channels Communication Commerce Internet Penetration Power distance Uncertainty avoidance Individualism Masculinity Time orientation Language, Religion, Values, Customs Tariff Quota Exchange control Trade agreement (evaluation or analysis of a specific country's market conditions)
  • 5. Marketing Opportunities in BRIC Countries (Brazil, Russia, India, China) The BRIC countries have been identified as some of the fastest-growing economies in the world. Brazil Russia India China Abundant natural resources make Brazil an attractive market for industries such as agriculture, mining, and energy. Brazil's infrastructure sector offers opportunities for companies specializing in transportation, energy, and construction, supported by government investments in infrastructure projects. A global hub for technology and innovation, offering opportunities for companies in IT services, software development, and digital solutions. With a large and diverse population, India's consumer market offers opportunities for companies in sectors such as retail, FMCG, electronics, and e-commerce. China's e-commerce market is one of the largest in the world, offering opportunities for companies to tap into online retail and digital marketing. China is a dominant player in global manufacturing, providing opportunities for companies in sectors such as electronics, automotive, and consumer goods. Strong technology sector with a skilled workforce, offering opportunities for companies in IT, software development, and digital services. Despite economic challenges, the consumer market remains sizable, providing opportunities for companies in sectors such as retail, consumer goods, and e-commerce.
  • 6. Direct investment Exporting producing goods in one country and selling them in another. This strategy requires the least financial risk but allows for only a limited return to the exporting firm. involves granting the right to use a company's business model and brand name. It is a contractual agreement between a franchisor and a franchisee. involve forming a new entity with a local partner to enter a foreign market, while strategic alliances involve collaboration between two or more companies to achieve common goals. refers to collaborative relationships between independent firms, though the partnering firms do not create an equity partnership. a strategy where a company or individual establishes a physical presence in a foreign country by acquiring assets, establishing subsidiaries, or investing in local businesses. This involvement allows the investor to have a significant degree of control over their operations and strategic direction in the target market. Market Entry Strategies Franchising Joint ventures Strategic Alliance least risky most risky potentially most lucrative
  • 7. Global Marketing Strategies Segmentation Targeting Positioning Dividing a heterogeneous market into smaller, more homogeneous segments based on certain characteristics. Types of segmentation: Demographic Geographic Psychographic Behavioral Importance of segmentation in global marketing: Allows for tailored marketing strategies to specific customer groups. Selecting one or more market segments to focus on based on their attractiveness and fit with the company's objectives and resources. Targeting strategies: Undifferentiated Differentiated Concentrated Micromarketing Considerations in global targeting: Cultural differences, economic factors, legal and regulatory environments. Creating a distinct image and identity for a product or brand in the minds of the target market relative to competitors. Positioning strategies: Value-based positioning Benefit positioning Competitor-based positioning Importance of positioning in global marketing: Helps differentiate the brand in diverse markets and fosters customer loyalty.
  • 8. Global Product or Service Strategies Sell the same product or service in both the home-country market and the host country Sell a product or service similar to that sold in the home country but includes minor adaptations referred to as global-localization. Sell totally new products or services #2 #1 #3 Global Pricing Strategies Local market conditions Currency exchange rate Cost of production Competitive pricing Government regulations & tariffd Market-based pricing prices based on market demand Cost-based pricing Setting prices based on production costs Competition-based pricing Setting prices based on competitors' prices Pricing Strategies: Influencing factors:
  • 9. Global Distribution Strategies Global distribution networks form complex value chains that involve: wholesalers exporters importers & different transportation systems. These extra intermediaries typically add cost and ultimately increase the final selling price of a product. In most developing countries, manufacturers must go through many types of distribution channels to their products to the end users Global Communication Strategies Identifying the elements that need to be adapted to be effective in the global marketplace Differences in language, customs, and culture also complicate marketers’ ability to communicate with customers in various countries. Major Challenge:
  • 10. Future Trends in Global Marketing As markets become increasingly diverse, successful global marketing will require a deep understanding of local cultures and preferences. Brands must tailor their messaging and offerings to resonate with diverse audiences while avoiding cultural missteps. Voice Search Optimization With the rise of voice-enabled devices and virtual assistants, optimizing for voice search will be crucial for global marketing success. Cultural Sensitivity VR/AR The integration of VR/AR technologies into marketing efforts will revolutionize how brands interact with consumers. It will be used for product demonstrations, virtual shopping, and brand storytelling. (Virtual and Augmented Reality) Personalization & AI Integration Expect a surge in personalized marketing strategies driven by AI algorithms. Tailoring content and experiences to individual preferences will become the norm, enhancing customer engagement and loyalty.
  • 11. In today's interconnected world, understanding and leveraging global marketing strategies are essential for businesses to thrive in diverse markets. Throughout this presentation, we explored various components of effective global marketing: Country Market Assessment Marketing Opportunities in BRIC Countries: Market Entry Strategies Global Marketing Strategies Global Product or Service Strategies Global Pricing Strategies By embracing these strategies, businesses can unlock new growth opportunities, expand their customer base, and establish a strong presence in the global marketplace. Conclusion:
  • 12. Elizabeth Moore Charles V. Richardson MRK 2100.800 elizabeth.moore4@sinclair.edu Thanks for viewing!!