THE GLOBAL MARKETING STRATEGY

THE GLOBAL MARKETING STRATEGY.

The expansion of global markets has not only affected the movement of consumer goods but how businesses function & reach out to collaborators and employees. Global marketing is essential for modern businesses.

What is Global Marketing Strategy. A strategy that encompasses countries from several different regions in the world and aims to co- ordinating a company's marketing efforts in markets in these countries..

Why is Global Marketing Important?. It gives businesses new opportunities to create new streams of income Raises brand familiarity and reputation. It gives businesses the opportunity to gain new knowledge about their products in order to adjust better quality service.

Development of Global Marketing Campaign.

1. Product. Is a company’s product sellable across all global markets or does it need to be changed depending on regional traditions and tastes?.

2. Price. Do prices need to be changed because of competition already in the foreign market?.

3. Placement. How do foreign customers choose and purchase their products?.

4. Advertising. Does a company’s message easy to understand across all cultures? Are there any misunderstandings based on language, culture, and/or value differences?.

Benefits of global marketing.

When a business expands into a new market, they gain more knowledge. With analytical tools, they acquire knowledge at a faster pace, which leads to a higher quality of service or products that are available for customers..

Think about why companies like McDonald’s and Starbucks are known all around the world..

The more global impact that a company has the more cultural influence and power that they have, which also increases the sizes of their operations..

In the age of social media posts and images with the use of social media, e-Marketing is king..