Developing The Right Marketing Strategy

1313 WordsJan 3, 20156 Pages
Developing the right marketing strategy is critical to ensuring an organization’s brand, image, and profitability are maximized in an international marketplace. There are various forms of markets, a global market and a regional market. This document will compare and contrast globalization and regionalization. It will highlight if these two markets are the same or different. In addition, the role of an international marketer to develop marketing strategies in a regional or global market will be discussed. Globalization With the increase in technology and competition for sales of products and services, organizations have had to expand their operations and marketing efforts on an international level in order to maintain various levels…show more content…
There was not a lot of coordination between the different local businesses amongst the various countries (Czinkota & Ronkainen, 2010). With the pressure of needing to manage costs and increase efficiencies, synergies between the different regions became an important strategy for international organizations. The concept of globalization was born from this issue. The drivers of globalization are market factors, cost factors, environmental factors, and competitive factors (Czinkota & Ronkainen, 2010). Market Factors Consumer behavior has evolved over the last forty years. This evolution has led to more similarities in consumer spending habits. In nations of similar economic status, individuals have comparable backgrounds, level of education, income levels, and balance between personal and professional time. Through enhancements in technology, developing nations have also been able to increase their knowledge of opportunities for the consumption of various products (Czinkota & Ronkainen, 2010). This has allowed for marketers to provide a single message for the marketing of an international company’s goods or services. One message to a large global audience can provide consistency to the brand or image of an organization versus potential mixed messages if done from multiple profit centers. Cost Factors The movement from a multdomestic
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