Introduction To be successive in the global market, each organization need to have a global marketing mix and global mindset. In other words, multinational and national organizations require structuring their process such that they meet the global standards to compete effectively with others. The initiative considers marketing within an integrated economy, which is stateless and with minimal restrictions. According to De Mooij (2018), global marketing involves understanding the different cultural paradoxes to achieve global competitiveness. Although the state of globalization is low for developing countries, the developed countries are making well-integrated markets. The global marketing activities must be integrated at a global level (Gillespie, & Riddle, 2015). One critical consideration is that there is a need to address the forces of globalization and localization. As a marketer, there is the need to think strategically since the global market present different challenges, and as such, the need to respond decisively to the competitive market. The marketing strategies need to be defined to enhance cost reduction to achieve profitability at the worldwide market. From the performance of different multinational companies, it is clear that real change has been taking place within the business planning focus (Gluck, Kaufman, &Walleck, n.d.). In the marketing, initiative organization needs to be committed to building a strong brand name, which will be recognized worldwide to overcome these barriers. Globalization has changed the way of doing business, especially in developed countries such as the US. Managers need to be oriented to other cultures in their way of doing business to achieve alternative benefits. The ability to adapt and use the style which is most acceptable to the particular country market is a characteristic of having a global mindset. The world economies have been transformed significantly, and hence, all organizations need to be proactive in using diversity. For leaders to influence the multicultural world and business environment, they need to have a global mindset. The unicultural lens that initially helped employees to interpret and understand their surroundings is now a critical obstacle in performing business today, especially in the developed countries (Javidan, 2010 May 19). This paper is based on the discussion of global marketing strategies, globalization, and the need to have a global mindset. A global strategy such as a global mindset and global marketing strategies are crucial for survival in the current international market since there is a critical transformation of the worldwide economies through global connectedness. (2) Global Marketing Mix The global marketing strategies refer to the initiatives to coordinate the marketing efforts from different regions of the world. For all the elements of the marketing mix such as product, place, price, and promotion, the marketer reconsider the need to include ch ...

1. Introduction
To be successive in the global market, each organization
need to have a global marketing mix and global mindset. In
other words, multinational and national organizations require
structuring their process such that they meet the global
standards to compete effectively with others. The initiative
considers marketing within an integrated economy, which is
stateless and with minimal restrictions. According to De Mooij
(2018), global marketing involves understanding the different
cultural paradoxes to achieve global competitiveness. Although
the state of globalization is low for developing countries, the
developed countries are making well-integrated markets. The
global marketing activities must be integrated at a global level
(Gillespie, & Riddle, 2015). One critical consideration is that
there is a need to address the forces of globalization and
localization. As a marketer, there is the need to think
strategically since the global market present different
challenges, and as such, the need to respond decisively to the
competitive market. The marketing strategies need to be defined
to enhance cost reduction to achieve profitability at the
worldwide market. From the performance of different
multinational companies, it is clear that real change has been
taking place within the business planning focus (Gluck,
Kaufman, &Walleck, n.d.). In the marketing, initiative
organization needs to be committed to building a strong brand
name, which will be recognized worldwide to overcome these
barriers.
Globalization has changed the way of doing business,

2. especially in developed countries such as the US. Managers
need to be oriented to other cultures in their way of doing
business to achieve alternative benefits. The ability to adapt and
use the style which is most acceptable to the particular country
market is a characteristic of having a global mindset. The world
economies have been transformed significantly, and hence, all
organizations need to be proactive in using diversity. For
leaders to influence the multicultural world and business
environment, they need to have a global mindset. The
unicultural lens that initially helped employees to interpret and
understand their surroundings is now a critical obstacle in
performing business today, especially in the developed
countries (Javidan, 2010 May 19). This paper is based on the
discussion of global marketing strategies, globalization, and the
need to have a global mindset. A global strategy such as a
global mindset and global marketing strategies are crucial for
survival in the current international market since there is a
critical transformation of the worldwide economies through
global connectedness.
(2) Global Marketing Mix
The global marketing strategies refer to the initiatives to
coordinate the marketing efforts from different regions of the
world. For all the elements of the marketing mix such as
product, place, price, and promotion, the marketer reconsider
the need to include characteristics of multicultural dimensions.
A multinational organization like Boeing often focuses on
standardization of the marketing mix elements to ensure that
they meet the global standards (Coe, & Yeung, 2015). Boeing is
a US-based company, but in its global marketing strategies,
several adaptations are made to the conditions of the other
countries. The company has offices in countries other than the
US in which it markets its products. The company has the
strength to compete in the global market with other companies
such as Airbus, and the purpose is to ensure it expands the

3. market potential. Efforts to launch production plants in other
countries like Europe and Asia are initiatives to capture the
global market. With the presence of information and
communication technology (ICT), organizations manage to
collect useful information about the markets and develop
marketing strategies.
Global Marketing Strategies and Organization Goals
A global marketing strategy by the organization is an
essential tool for achieving different organizational goals.
Every organization adopts a global marketing strategy to
increase its profitability and to improve the customers’ value.
The role of the marketing strategy to each of the goals is
discussed below. Positioning each of the elements in the global
environment will help to improve the organization performance,
promoting competitiveness. Many organizations conflicts hinder
development and cultural change. For instance, the systems of
organized labor increase production costs and local market
constraints reduce revenue; hence, global marketing strategy
would be necessary to polarize such forces.
Addressing Cost Reduction
A global marketing strategy enhances cost-effectiveness.
By establishing standard methods of production and packaging
as well as the promotion of the products, costs efficiency would
be attained. By maintaining the operations of an organization
nationally, it leads to increased costs. With a global marketing
strategy, the organization will have a standardized process. The
process helps to reduce duplication and waste of resources. For
instance, promotion initiatives are designed such that no such
costs would be duplicated across cultures (Steenkamp, 2017).
The product design, packaging, and advertising will be uniform,
which would help maintain the costs low. In the absence of
global marketing strategies, an organization incurs similar costs
such as in promotion that can otherwise be avoided. A global
marketing mix is characterized by uniformity of products and

4. services. Also producing a large number of identical units will
offer the organization economies of scale. In the absence of
global marketing strategies, the organization incurs duplicated
costs of providing nonstandard products and services.
Considering products that are unique in each of the subsidiary
company significantly raises the operation costs. In terms of the
distribution of products coordination in the various subsidiary
also leads to a significant reduction in the costs. With global
marketing strategies, the product prices and delivery are well
coordinated, and hence, critical control measures are employed.
Enhanced Customers Preference
A global marketing strategy promotes enhancing customers
preference. In other words, the global marketing strategies will
improve positive demand effect on the customers. The global
marketing strategies include standardization of the products and
hence increase the customers' exposure to the product. This
leads to a positive impact on preferences. The level of
competition that is built on standardized products leads to
increased awareness. When products become common across
countries, there is a likelihood for increased preferences among
the customers. In this case, the effect arises from building the
brand in which customer awareness rises. Global marketing
strategies also include competitive imitation. The impact of this
is to make the customers value for particular products. In other
words, in the process of product standardization, some product
and quality features are enhanced, promoting customers value
for a given brand. The global marketing strategies also include
price standardization, which would also increase the demand
effect for a particular product. Customers' preference is also
dependent on the fact that the quality of the products is
improved. A company with more extended series maximize on
investment in specialized technology and enhance it is
consistent in the quality of the products that are produced. The
consistency in the quality of the product will promote the
customers' preference for a product even in the broader market.

5. Improved Program Effectiveness
Global marketing strategies increase organization
competencies for a particular product and services. In the
process of standardization of the needs of customers across
cultures, the company will be exposed to information that
enhances the building and improving particular programs. The
company will be useful in promoting products within a specific
country. The response to particular products helps the company
to respond accordingly to the needs of the customers. The
discoveries that are established in marketing a product for a
specific market will be useful for marketing in another market.
For instance, coca cola advanced its product in India in the late
20th century the discovery of religious barriers led to building
new products and using that knowledge in marketing the
products in similar cultures. For all the elements of the
marketing mix, the GMS initiative increases awareness for a
given intervention. Also, globalization shows that the needs of
the consumers across the world have been harmonized and the
customers even from a distance will prefer similar products
(Skarmeas, Zeriti, & Baltas, 2016). A company will gather
knowledge on the need for standardization of programs based on
the customer's effectiveness. For all the elements of the product
mix product, pricing, promotion, and distribution, the company
will build on adaptation and standardization, which leads to
improved program effectiveness.
Increased Competitive Leverage
The global marketing strategies will help a company to
achieve a competitive advantage. This achieved both by cost
reduction compared to the local competitors selling quality
products at relatively low products. The GMS initiatives also
increase the scope of the market, and hence, the company
revenues will increase. As the company financial performance
improvement, the company increases investment in technology
and research for competitive advantage on quality products and
services. The effect will also arise from the quick adaptation to

6. the needs of customers achieving competitive advantage in new
markets. Increased consumer awareness also promotes customer
preference for a brand relative to competitors’ local brands.
Addressing the Needs to Achieve Economies of Scope
Global marketing strategies enhance cost-effectiveness
from the scale and scope. In global marketing strategies, the
economies of scope refer to the initiative to use the investment
for producing a particular standardized product in producing
other similar related products. Coca Cola achieve economies of
scope. According to Sloman, Norris, and Garrett, (2013), the
company provides a wide range of soft drinks other than the
Coca Cola range. The latter is the renowned brand but the
marketing initiatives that include the sale of these products
enhance cost efficiencies. The company has invested in the
diversification of the products in two ways. In 2007 the
company announced expanding its product portfolio to include
‘flavored milk, energy, juice, and tea-based drinks' (Sloman et
al., 2013) and the alcoholic goods markets. The company
strategy is to utilize the production and distribution networks it
has created in Coca Cola range to market these other brands.
One of such networks is with the SAB Miller to construct a new
brewery. For all the elements of the global marketing mix
economies of scope can be enhanced, leading to decreased
operation costs, which would allow for improved cost reduction.
The global marketing strategies and the economies of scope are
based on the fact that such initiatives would be found on the
market efforts already established. The economies of scope are
a product of adaptation to the changing customers' need and
standardization efforts to ensure improved output. The
diversification efforts that are based on a global scale would
lead to improved efficiency.
Creating and Maintaining a Global Brand Name
The global marketing strategies are built on the fact that
such considerations as building a brand name as an asset in the
worldwide market. Most organizations benefit from a renowned

7. global brand name. Boeing has a global brand name in the
aerospace an asset that enhances the advancement of the
operations. The global branding initiatives involve the
marketing of a product under the same name worldwide, which
enhances adopting in international marketing. Customers easily
identify branded products across different countries. This
increases the demand for the products over those of the
competitors. Another advantage is increased customers
confidence in the products. The global brand name can also be
used to promote new products and programs within the product
portfolio. Secondly, the initiatives to build a global brand create
a competitive advantage (Teeboom, Leon, 2019 February 19).
Companies like Boeing and Coca Cola uses the name as an asset
for the advancement of marketing efforts in the international
market. Considering that the companies take the direct
responsibilities of the quality of their products within the global
market to advance these initiatives, there is a direct benefit
achieved from them. The global brand name also reduces the
costs of marketing the products both locally and internationally.
(4) Global Mindset
The global marketing strategies take advantage of
globalization, which has transformed the world economies into
a single borderless frontier. This transformation that has
occurred, especially among the developed countries, has
pioneered the need to have a global orientation. Managers in
business need to be oriented to other cultures in their way of
doing business to achieve alternative benefits. The ability to
adapt and use the style which is most acceptable to the
particular country market is a characteristic of having a global
mindset. Boeing has a global mindset shifting from being an
American country a move that has pioneered some conflicts
between the management and the local stakeholders, especially
the employees.
Description of the Global transformation and Impact on

8. Business
The global transformation has been a significant
occurrence within the international market. There are minimal
restrictions in marketing and selling products across the
countries. The increased foreign direct investment is a clear
indicator of the level of globalization that has been achieved in
the international market. Boeing, an American based company
recently established plant in the UK an initiative that indicate
reduced trade barriers between the two regions (Lawrence, &
Thornton, 2017). In many of the US firms, there is the increased
integration of the skilled workforce from other countries. The
technology companies in the US utilize the skilled workforce
from the Asian countries. The restriction in the movement of the
raw materials is minimal, an indication of the integration of the
different economies. According to Noyes et al., 2019, there is
evidence that shows that the developed countries are more
globalized than the developing countries. One contribution to
the level of global transformation is information and
communication technology. The state of globalization has a
significant impact on the US business and the work
environment. The company in the US has a diverse workforce in
efforts to increase global connectedness. The increased foreign
work opportunities mean that there is a reduced likelihood to
work in US-based firms.
Description of Global mindset and its transformation
Global mindset refers to the series of adaptation to the
needs and characteristics of different cultures to maximize
value. The global mindset is necessary for the managers
considering the state of globalization. To survive in the
international markets, managers need to have a global mindset.
The global mindset will enhance integration and effective
management of a diverse workforce. The initiative, in return,
will promote the transformation of various techniques to
achieve global competitiveness. The global mindset involves
increasing the company skill set to deliver culturally sensitive

9. interventions. The overall impact will be increased efficiency
and cost reduction. A global mindset has helped the Boeing
executive to promote strategic goals that overcome competition
at the international market. The primary evidence is that there is
an increased need to reduce labor costs and integrate new skills
and technologies. The global mindset promotes the success of a
company both locally and in the international market. Locally it
enhances improvement in the quality of the product and a
decrease in costs. The global mindset helps to improve
management relationships with stakeholders in the company
subsidiaries outside the US.
Principal Leadership Challenges in Implementation of a Global
Mindset
Implementing a global mindset is characterized by
different challenges that affect leaders. One of the difficulties is
a conflict with local stakeholders. For Boeing, a global mindset
has pioneered conflict with employees. According to Peterson
(2011), Boeing employees consider that the company is
offloading opportunities abroad. The regional tension in which
the company is most established disrupts the normal functioning
and profitability. As the company outsource operation across
cultures and increasing foreign investment, the locals strike on
the lack of job security. In other words, there is tension for the
sustainability of the company benefits. Globalization is yet to
be fully achieved primarily for developing countries. In other
words, the leaders have to focus investment only to some
designated regions. The products are standardized at the
expense of other potential markets. It is not easy to lead and
manage a diverse workforce, and hence, leaders have to allow
for culturally based groups which limit integration. Boeing
leaders have approved for groups affiliation by cultures and
promote team leadership through these groups. While this
technique can enhance management, it reduces leadership
control.
Conclusion

10. Globalization has transformed the world economies, and
hence, there is a need to implement different global strategies to
achieve economic benefits. Global connectedness among the
developed countries is high while in developing countries it is
relatively low. To survive in the international market, there is a
need to implement global marketing strategies which enhance
cost reduction and improvement in customer's value. Leaders
and managers in a multinational organization are expected to
adopt an orientation that favors the overall market. There are
critical considerations that such decisions are the only way to
survive in the multicultural based worldwide economy.
Addressing the local and international needs of the market is a
significant challenge to the global mindset. Trade across
countries account for the exchange rate influenced by the
economic factors those changes over time. The financial
markets act as an essential indicator of these forces through the
influence on foreign investment to a particular country.
Problem:
(a) Inflation rate and currency value in the global market
-UK inflation rate: 8%
-US inflation rate :4%
- The spot rate of USD 1.46=1 GBP
Forward Rate 1.08 GBP= 1.5184 USD
(1+8%) = (1.46+4%)
1 GBP = 1.4059 USD
Expected rate of appreciation for USD
Spot Rate 1USD =1/1.46= 0.6849 GBP
Forward Rate 1USD= 1/1.4059= 0.7113 GBP
Appreciation =(Forward Rate-Spot Rate/Spot Rate)*100

11. Expected Rate of depreciation for GBP
= (Forward Rate-Spot Rate/Spot Rate)*100
(b) Forward rate and transaction within 45 days
USD
Chinese RMB
Interest Rate
3.2%
6.125%
For 45 Days Interest Rates (365 Days taken)
(3.2*45/365:6.125*45/365)
0.3945%
0.7551%
Sport Rate 1 USD= 6.831 RMB
Forward Rate=1.003945=6.88258
* 1.003945= (1+0.3945%)
** 6.88258= (6.831+0.7551%)
Therefore 1 dollar=6.8555
(6.88258/1.003945*1)
Expected rate of appreciation for USD at the time of Delivery=

12. =0.3586%
Thus, she is going to receive the dollars and the dollars is going
to be appreciated so she will get more units of their home
currency due to home currency is going to weak and dollar is
going to up by 0.3586%, So, she needs to take any forward
hedging strategy.
Forward hedging strategy is required when she feels that the
home is going to be strong which results in she will get less
number units of home currency when home currency is strong
,so she can short sell dollars by putting 45 days time.
(c) Factors that Determine the Foreign Exchange Rate and Link
to Financial Markets
The definition of foreign exchange is a rate at which a
country’s currency is converted into another country’s currency.
The foreign exchange rates provide an overview of the
country’s economic stability so it's important to be constantly
monitored and analyzed.
Several factors influence the exchange rates between countries.
An expectation that the demand for a particular currency will
increase cause a rise in the exchange rate. A country such as the
US that has stable economic performance draw investment from
other countries. The financial market thus influences the foreign
exchange rate through changes in the investment to a given
stock exchange market. The terms of trade also affect foreign
exchange rates. The measures for the balance of payment, which
shows an increase in export value over imports improve the
terms of trade. The rise in revenue for exports increases the
demand for a currency; hence, appreciation of the exchange
rate. Public debts and deficits are not attractive to foreign
investors and thus affect the foreign exchange rates (Engel,
2016). The primary link to the financial market is the influence
on foreign investment decisions. The investment decisions are

13. the key indicator of the changes in these factors. The foreign
exchange rate determinants are directly linked to country
economic performance and as such, enhance market equilibrium.
References
Coe, N. M., & Yeung, H. W. C. (2015). Global production
networks: Theorizing economic development in an
interconnected world. Oxford University Press.
De Mooij, M. (2018). Global marketing and advertising:
Understanding cultural paradoxes. SAGE Publications Limited.
Engel, C., (2016). Exchange rates, interest rates, and the risk
premium. American Economic Review, 106(2), 436-74.
Gillespie, K., & Riddle, L., (2015). Global marketing.
Routledge.
Gluck, W., Kaufman, S., &Walleck, S. (n.d.) Strategic
Management for Competitive Advantage. Retrieved from
https://hbr.org/1980/07/strategic-management-for-competitive-
advantage
Javidan, M., (2010, May 19). Bringing the global mindset to
Leadership; Havard Business review. Retrieved from
https://hbr.org/2010/05/bringing-the-global-mindset-to.html
Lawrence, P. K., & Thornton, D. W. (2017). Deep stall: the
turbulent story of Boeing commercial airplanes. Routledge.
Noyes, J., Booth, A., Moore, G., Flemming, K., Tunçalp, Ö., &
Shakibazadeh, E. (2019). Synthesizing quantitative and
qualitative evidence to inform guidelines on complex
interventions: clarifying the purposes, designs, and
outlining some methods. BMJ global health, 4(Suppl 1),
e000893.
Peterson, K., (2011). A wing and a prayer: Outsourcing at
Boeing. Reuters Special Report.
Skarmeas, D., Zeriti, A., & Baltas, G. (2016). Relationship
value: Drivers and outcomes in international marketing
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Sloman, J., Norris, K., & Garrett, D. (2013). Principles of
economics. Pearson Higher Education AU.

14. Steenkamp, J. B., (2017). Global Marketing Mix Decisions:
Global Integration, Not Standardization. In Global Brand
Strategy (pp. 75-109). Palgrave Macmillan, London.
Teeboom, Leon. (2019, February 19). The Advantages of Global
Branding and Advertising. Small Business - Chron.com.
Retrieved from http://smallbusiness.chron.com/advantages-
global-branding-advertising-18190.html
PLEASE NOTE THE FOLLOWING:1. Each question is worth
40 points. I suggest using concise language, however; please
use an essay format. 2. I suggest you choose those questions
regarding topics that interest you most. Please be sure to
identify which question, you are answering in your response;
and please include your name in the name of the document you
submit.3. Please limit the resulting document to a total of five
pages, single-spaced, 12-point font or bigger.
(1) Global Marketing Mix
Firms cannot reasonably expect to standardize all elements of
their marketing program across the entire world. Indeed, there
are probably diminishing returns upon reaching a certain level
of standardization and uniformity worldwide. “The key in
global strategy is to find the best balance between local
adaptation and global standardization. So global marketing is
not a blind adherence to standardization of all marketing
elements for its own sake, but a different, global approach to
developing marketing strategy and programs that blends
flexibility with uniformity.” Global marketing comprises all the
elements of the marketing mix – product, price,
promotion/advertising, and distribution – conducted across the
firms markets worldwide.

15. (i) Applying the global marketing approach is said to result in
cost reduction, enhanced customer preference, improved
program effectiveness, and increased competitive leverage.
Please explain how this is true. That is, please explain how
having a global marketing strategy leads to each of these
particular benefits.
(ii) Global advertising is a key approach for economies of scope
and generally minimizing the costs of doing business globally.
Please describe a strategic approach that firms should follow in
order to succeed with global advertising, based on your
understanding of chapter 6. You can frame your answer in
terms of advertising strategy, execution, and media.
(iii) Ultimately the firm should seek to create and maintain a
global brand name. E.g., Coca-Cola, Sony, and BMW all have
succeeded by having brand names that are recognized
worldwide. What are the advantages of having a global brand
name?
Problems:
Show your work for complete credit. 20 points
a. If the rate of inflation in the UK is 6% and the rate of
inflation in the US is 4%, given a spot rate of USD 1.46=1 GBP,
what is the expected forward rate one year hence? What is the
expected rate of appreciation/depreciation for the USD?
b. Suppose a manufacturer of tractors secures a sale to a
Chinese company of 480 million USD for delivery in 45 days.
If market interest in China is 6.5% and market interest in the US
is 3.0 %, spot rate is RMB 6.831=1USD, calculate the expected
forward rate and rate of appreciation/depreciation at the time of
delivery. Show how the manufacturer can use a forward market
hedge to lock in his/her profit.

16. c. Explain the factors that determine foreign exchange rates and
their link to financial markets. In terms of balancing
mechanisms, how does covered interest arbitrage ensure market
equilibrium?