GLOBAL MARKETTING

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HEENAL S. MARU ROLL NO. 8

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OBJECTIVES OF GLOBAL MARKETING

o Exploit Market Potential and Growth Gain Economies of Scale and Scope Learn from the Leading Market Pressuring Competitors Diversifying Markets Learning How to do Business Abroad

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INTRODUCTION TO TOPIC

The chapter starts by looking at the evolution of a firm's orientation from primarily a domestic producer to a global player. It then goes on to describe the major factors that have led to global marketing, including both economic and social. Finally the chapter examines the 4/14/12 planning mechanism necessary to

MEANING OF GLOBAL MARKETING

WIDER SCOPE OPERATION APPROACH DIVERSITIES AND DIFFERENCES IN CULTURE MARKETTING STRATEGY INTERNATIONAL BUSINESS EVOLUTIONARY PROCESS

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DEFINITION

THE OXFORD UNIVERSITY PRESS DEFINES GLOBAL MARKETTING AS MARKETTING ON A WORLDWIDE SCALE RECONCILING OR TAKING COMMERCIAL ADVANTAGE OF GLOBAL OPERATIONAL DIFFFERENCES, SIMILARITIES AND 4/14/12

WHY DO COMPANIES ENGAGE IN GLOBAL MARKETING?

1. To Survive and Grow 2. Learn to satisfy consumers in diverse conditions 3. Manage marketing tasks more efficiently and effectively 4. Preempt or counter competitive attacks in more than one market 5. Expand customer base to include developed and developing nations
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WORLDWIDE COMPETITION

AUTOMOTIVE SALES MARKETS CHANGE

INTERNATIONAL

TECHNOLOGICAL FOREIGN

COMPETITION MARKETS

DOMESTIC MARKET

BASED AND SUPERIOR VALUE TO CUSTOMERS ACCUMULATION AND

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KNOWLEDGE

ADVANTAGES OF GLOBAL MARKETING

The advantages of global market we can introduce our product by using advertising Economies of scale in production and distribution Lower marketing costs Power and scope Consistency in brand image Ability to leverage good ideas quickly and efficiently Uniformity of marketing practices Helps to establish relationships outside of the "political arena" 4/14/12

DISADVANTAGES OF GLOBAL MARKETING Differences inconsumerneeds,wants, and

usage patterns for products Differences in consumer response tomarketing mixelements Differences inbrandandproduct developmentand thecompetitiveenvironment Differences in the legal environment, some of which may conflict with those of the home market Differences in the institutions available,
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FEATURES OF GLOBAL MARKETING

REACH

SCOPE

INRERACTIVITY IMMEDIACY DEMOGRAPHICS ADAPTIVITY

AND TARGETTING

AND CLOSED LOOP MARKETTING

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Roles of a Global Manager

Select & Implement Foreign Market Entry

Select Countries, Mode of Entry etc

Perform Local Marketing Abroad Promote Products and Services Conduct Market Research Manage Advertising Campaign Manage Global Operations

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Foreign Competitors
Foreign

Competitors : Foreign Firms are the most direct competitors of a Globalizing firm. Foreign Competitors from the same country can be analyzed as a separate Strategic Group. E.g: Samsung, LG Firms from the same country follow similar strategy Regional Trade Blocs also help Foreign Competitors.
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Pioneering Costs

Customer Tastes & Preferences are unknown Distribution Channel may have to be set have to be educated Expenses, Promotion expenses up

New

Customers

Advertising

will be high
Few

Firms tend to be Followers Second Mover Advantage

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ELEMENTS OF GLOBAL MARKETTING MIX PRODUCT

PRICE PLACEMENT PROMOTION

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STRATEGIES OF GLOBAL MARKETTING

Treating the global market as the domestic market. Creating a global marketing mix, which at the same time recognizes regional and national differences, such as differences in language and tastes. Creating global production and distribution systems, e.g. super factories covering major areas of the world. on power brands - the most

Concentrating

FACTORS PROMOTING GLOBAL MARKETTING

INFORMATION, COMMUNICATIONS TECHNOLOGY STANDARDISATION THE TRANSFORMATION OF INDUSTRIAL ECONOMIES TRANSFORMATION OF BUSINESS ENTRERPRISES GLOBAL CULTURE THE EMERGING DIGITAL FIRM SUPPLY CHAIN MANAGEMENT
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IMPETUS TO GLOBAL MARKETTING INVOLVEMENT

Foreign customers

Importers Intermediaries Other

sources

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QUESTIONNAIRE
Q.1 What are the principal differences between marketing domestically and internationally or globally? An: Essentially there is no difference between the two. Both require the identification of product/market objectives, an analysis of the internal and external environment and the organizing, planning, implementation and control of an effective marketing strategy. The differences lie in the degree of market similarities and differences, and the extent to which the product to be marketed is environmentally sensitive or insensitive

Q.2What factors have led to the growth of "Internationalism" since World War II? Discuss which you think are the most important and why An: Factors include:
1. Theoretic - comparative advantage, the Product Trade Cycle and Perl mutter's business

orientation. Market forces - market clusters, technology, cost/volume considerations, shrinking of transport and communication gaps, international leverage.
2.

The International System - development of economic blocs, growth in domestic economies, the International Monetary Framework, global peace, communication and transport technology, global corporation growth, GATT. international infrastructure.

3. Others - impetus through global experience, attitudes (Cavusgil), behavior, context and the

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Q.3 Which concepts and techniques are available to aid marketers isolate differences and

CONCLUSION
Going global will stretch and mold company

resources into a globally effective marketing organization. entry strategies, decide on trade - offs between localization or global standardization to achieve the optimal local responsiveness and global scale of economies. from experts for market entry, market research & international Financing 4/14/12

Global Managers will have to select the right

When Going global, it is better to take help

BIBILOGRAPHY

WWW.GOOGLE.COM BOOKS

REFERENCE EXPERTS

NEWSPAPERS

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