Global Marketing Strategies
Global Marketing Strategies
Jody Ankabrandt
INT 640 Multinational Marketing Strategies
Professor Dr. Ike Ugboaja
March 8, 2015
Introduction Doing business is fast becoming global in today’s world due to technology, transportation and communication opportunities. In this fast moving economy and globally connected world, there always exists the prospect of discovering an unfulfilled customer need and then marketing a product to satisfy those needs. While some company’s prefer to remain domestic, others decide to go international for a many reasons like growth or expansion. Before making the decision to go abroad, successful companies benefit from proper planning to help visualize any external and uncontrollable factors that may arise. (Cateora, Graham, Gilly, 2013) Global marketing is the process of adjusting a company 's marketing strategies to adapt to conditions in other countries. When a company speaks of ‘going global’, it really means they are moving internationally, outside the home country. One may ask if a global marketing strategy is really necessary at all in a business. If you were to develop an ad campaign in the United States, do you think the same campaign would be just as effective in China? That is why it is important to create a global marketing strategy for a company no matter what the size. (Delaney, 2015) This paper explores the steps a company can take to help them with the international planning process, it looks at promotional strategies, and how innovation plays a part in market adaptation.
International Planning Process Before a company decides to go international, it is important to incorporate all functional aspects of a business and align with a well-defined objective. You must know your weaknesses and strengths in that market and how you plan to overcome them. Major decisions need to be made in marketing on whether to go abroad, which market to enter, how to enter, what kind of marketing
Jody Ankabrandt
INT 640 Multinational Marketing Strategies
Professor Dr. Ike Ugboaja
March 8, 2015
Introduction Doing business is fast becoming global in today’s world due to technology, transportation and communication opportunities. In this fast moving economy and globally connected world, there always exists the prospect of discovering an unfulfilled customer need and then marketing a product to satisfy those needs. While some company’s prefer to remain domestic, others decide to go international for a many reasons like growth or expansion. Before making the decision to go abroad, successful companies benefit from proper planning to help visualize any external and uncontrollable factors that may arise. (Cateora, Graham, Gilly, 2013) Global marketing is the process of adjusting a company 's marketing strategies to adapt to conditions in other countries. When a company speaks of ‘going global’, it really means they are moving internationally, outside the home country. One may ask if a global marketing strategy is really necessary at all in a business. If you were to develop an ad campaign in the United States, do you think the same campaign would be just as effective in China? That is why it is important to create a global marketing strategy for a company no matter what the size. (Delaney, 2015) This paper explores the steps a company can take to help them with the international planning process, it looks at promotional strategies, and how innovation plays a part in market adaptation.
International Planning Process Before a company decides to go international, it is important to incorporate all functional aspects of a business and align with a well-defined objective. You must know your weaknesses and strengths in that market and how you plan to overcome them. Major decisions need to be made in marketing on whether to go abroad, which market to enter, how to enter, what kind of marketing
References: Delaney, L. (2015) Global Marketing Strategy: Four Benefits to a Global Marketing Strategy Retrieved from http://importexport.about.com/od/DevelopingSalesAndDistribution/a/Global-Marketing-Strategy.htm Digital Marketing (2015) Factors that Influence Adoption Rates. Retrieved from http://ondigitalmarketing.com/textbook/foundations/factors-that-influence-technology-adoption-rate/ Kotler, P. & Keller, K. (2012). Identifying Market Segments and Targets. In E. Svendsen (Ed.), Marketing Management. Upper Saddle River, NJ; Pearson Education, Inc. Philip R. Cateora, Graham, J. L., & Mary C. Gilly. (2013). International Marketing. McGraw-Hill/Irwin Trade Ready (2015) Top 4 things to consider when designing a promotional strategy for the international market Retrieved from http://www.tradeready.ca/2013/fittskills-refresher/top-4-things-to-consider-when-designing-a-promotional-strategy-for-the-international-market/