Marketing Mirror

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.