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Global marketing

Global marketing defines as “marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives.

Marketing decisions are made by consulting with marketers in all the countries that will be affected. The basic goal is to sell the same thing the same way everywhere. When a company becomes a global marketer, it views the world as one market and creates products that will only require weeks to fit into any regional marketplace.

It is the dream of many business owners to take their product or service to the global market. Taking your company global is an arduous and costly task. It takes years to build your business financially and in the national market before expanding overseas. But, when the time comes, a global expansion can be well worth the wait.

Follow the steps below and you will be well on your way to seeing your product or service all over the world.

  • The marketing product, price, placement, and promotion are all affected as a company moves through the five evolutionary phases to become a global company. The global marketing level, a company trying to speak with one voice is faced with many challenges when creating a worldwide marketing plan. Unless a company holds the same position against its competition in all markets (market leader, low cost, etc.) it is impossible to launch identical marketing plans worldwide
  • There should never be 'one marketing plan' in a company. The difference is between the target markets. There should never be a cookie cutter style marketing campaign

For a global/foreign market you could have a few approaches:

  • Always advertise as a foreign product - there is novelty in such for some countries. For example by default, many would assume a French wine has better quality. If it is something that the country perceives Americans to do better - stick with that approach.

 

  • For better marketing joint Partnership with a local firm - that way it can be considered a 'local product' and try to find a firm that has already established credibility
  • To sell the product we need licensing - you could just sell the rights to your product to a foreign firm. The problem lies that they aren't obligated to maintain the quality standards that you may perceive necessary, and therefore hurt brand image.
 

Domestic marketing

Domestic marketing is the marketing practices within a marketer's home country.
A company marketing only within its national boundaries only has to consider domestic competition. Even if that competition includes companies from foreign markets, it still only has to focus on the competition that exists in its home market. Products and services are developed for customers in the home market without thought of how the product or service could be used in other markets. All marketing decisions are made at headquarters.

The biggest obstacle these marketers face is being blindsided by emerging global marketers. Because domestic marketers do not generally focus on the changes in the global marketplace, they may not be aware of a potential competitor who is a market leader on three continents until they simultaneously open 20 stores in the Northeastern U.S. These marketers can be considered ethnocentric as they are most concerned with how they are perceived in their home country

 

Direct Marketing

Direct marketing is one of the types of marketing, which is a sub-discipline. Direct marketing is largely dependent upon the use of customer files and lists. It differs from general marketing, in that the result of a promotion is measurable in terms of response.

Direct Marketing is done by various methods:

Direct mail Marketing
One of the most direct marketers learn first is direct mail and it is the most heavily used direct marketing medium. Direct mail has been used to sell a wide variety of goods and services to consumers as well as businesses, and it continues to grow despite postage increases. Direct mail offers several advantages over other media, including selectivity, personalization, flexibility, and testability

Telephone-based direct marketing
Over the past two decades use of the telephone in direct marketing has grown dramatically. Expenditures now may equal, or even surpass, those of direct mail. Telephone-based direct marketing may be outbound and inbound. Inbound telemarketing is also known as teleservicing and usually involves taking orders and responding to inquiries. Outbound telemarketing for consumers may be used for one-step selling, lead generation, lead qualification or follow-up, and selling and servicing larger and more active customers. In business, telemarketing can be used to reach smaller accounts that do not warrant a personal sales call as well as to generate, qualify, and follow up leads.

Magazines
It is another way of direct marketing. Direct response print ads in magazines must make a definite offer or request that asks the reader to do something. In addition to advertising heavily in special interest magazines, direct marketers utilize mass consumer magazines and take advantage of regional advertising space to target specific audiences.

Television
Today direct marketing on television is increasing. Early examples of direct response advertisements on television that should be familiar to viewers include those for knives, garden tools, exercise equipment, records, and books, which ask viewers to call in and order a specific product.
More recent developments in direct response television advertising include a return to a lengthier format, commonly known as the infomercial, where a product or other offer is explained in some detail over a time period extending to 30 minutes or more. Advocates of this format point out that the greater length gives the advertiser the opportunity to build a relationship with the viewer and overcome initial viewer skepticism, and at the same time present a convincing story spelling out product features and benefits in detail.

 

 

 

Business marketing

Business marketing also known as industrial marketing, it is also called business-to-business marketing, or b-to-b marketing. Business Marketing is the practice of organizations, including commercial businesses, governments and institutions, facilitating the sale of their products or services to other companies or organizations that in turn resell them, use them as components in products or services they offer, or use them to support their operations.

If you want to gain enter into the competition then the ethics of marketing can be difficult for businesses. Creative endeavors like print ads, online banners and videos may contain another company's intellectual property or use false language without proper research. Your company needs a marketing ethics policy to avoid these issues and keep loyal customers in the fold.

The Business Marketing Association (BMA) is the largest professional association representing practitioners of business-to-business marketing and communications. Business marketers serve the largest market of all; the dollar volume of transactions in the industrial or business market significantly exceeds that of the ultimate consumer market.

There are three "revolutions" occurring around the world today due to the tremendous growth and change for business marketing.
The revolutions are as follows

1. Technological revolution.
Technology is changing at an unprecedented pace, and these changes are speeding up the pace of new product and service development. A large part of that has to do with the Internet, which is discussed in more detail below.

Technology and business strategy go hand in hand. Both are correlated .While technology supports forming organization strategy, the business strategy is also helpful in technology development. Both play a great role in business marketing.

2. Entrepreneurial revolution.
Many companies have downsized and reinvented themselves to stay in the competition Adaptability, flexibility, speed, aggressiveness and innovativeness are the keys to remain competitive today. Marketing is taking the entrepreneurial lead by finding market segments, untapped needs and new uses for existing products, and by creating new processes for sales, distribution and customer service.

3. Revolution occurring within marketing itself.
Companies are looking beyond traditional assumptions and adopting new frameworks, theories, models and concepts. They're also moving away from the mass market and the preoccupation with the transaction. Relationships, partnerships and alliances are what define marketing today.Companies are customizing marketing programs to individual accounts.

 

Telemarketing

Telephone is use as an interactive medium for promoting response also known as teleselling. Telemarketing is a method of direct marketing in which a salesperson solicits to prospective customers to buy products or services, either over the phone or through a subsequent face to face or web conferencing appointment scheduled during the call.

Selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations is other way of defining the telemarketing.

Telemarketing is a response vehicle, includes inquiries, receiving orders and donation pledges in response to print and broadcast advertising, catalogs, and direct-mail promotions, and also receiving customer inquiries and complaints. It also include recorded sales pitches programmed to be played over the phone via automatic dialing

To identify qualified leads, avoiding travel and other costs associated with personal sales calls, telemarketing is used heavily by business-to-business marketers. One telemarketing call can cost four times as much as a direct-mail piece but can generate as much as two to six times the response. The success of a telemarketing program is measured in terms of contacts made, attempts made, and conversions.

There are two kinds of telemarketing— outbound and inbound. Outbound telemarketing calls are those placed by salespeople to homes or businesses. Inbound telemarketing occurs when customers call in to businesses to place orders.

Outbound telemarketing is particularly appealing to businesses whose salespeople have traditionally made outside sales calls. It reduces the cost per contact, increases the number of contacts that can be made per day or week, and still retains the human element. Computerized databases of prospects and automated predictive dialers can further extend the potential number of contacts a telemarketer can make. Outbound calls can be used to canvass for new business, follow up former customers, and contact new leads.

Inbound telemarketing is also a very efficient marketing approach that also retains the element of personal interaction. Calls are generated by catalogues mailed to prospective customers or by radio, television, or print advertisements. These promotional pieces solicit customers to buy by calling a toll-free number. When customers call in, they may either reach a telemarketer directly or receive an electronic message that gives them the option to be connected to a salesperson. Since inbound callers have entered the buying process when they call in, a customer service orientation is more critical to the success of the telemarketer than sales training.

 
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