Global Marketing Essy

At its basic understanding, international marketing engages the firm in making one or more marketing mix decisions across national boundaries. At its complex level, it involves the firm in establishing

Market Development. Walmart uses market development as its secondary intensive strategy for growth. This intensive growth strategy involves entering new markets to sell to consumers other than those that the company currently has.

In general, there are three views on ‘global strategy'. First, global strategy is one particular form of multinational enterprise (MNE) strategy that treats countries around the world as a common, global marketplace (Levitt, 1983; Yip

"Firms may be able to exploit core competencies in international markets through resource and knowledge sharing between units across country borders" (Hill 384). This sharing generates synergy, which helps the firm produce higher-quality goods or services at lower cost. In addition, working across international markets provides the firm with new learning opportunities. Multinational firms have substantial occasions to learn from the different practices they encounter in separate international markets. Even firms based in developed markets can learn from operations in emerging markets.

B) the challenge posed by managers in other countries that aim to achieve global objectives for the company no matter the costs imposed on national objectives

Wal-Mart found itself facing political, ideological, cultural, and technological barriers in its attempt to enter the markets on foreign soil. Wal-Mart deliberately selected emerging markets as a starting point for international expansion (pg.395). In Latin America, Wal-Mart targeted large growing populations like in Mexico, Argentina, and Brazil; in Asia, it sought out China.

International marketing is practiced in all major corporations, there are a large array of advantages companies can benefit from this and very little to lose. By marketing themselves globally, corporations essentially create multiple business opportunities for themselves worldwide when they recognise the opportunities and strive to inform or meet different consumer needs. Several corporations tend to internationalize when the domestic market is not generating lucrative profits for the corporation compared to the domestic market. For example, in 1994, Apple generated an additional amount of $80 million from the foreign market compared to the local market.

some time, and so are the challenges for global companies whether they are small, medium or large. Companies understand that expanding from regional or national focus to international competitive market requires strategic, quantifiable, achievable and time-critical goals (Werhane, 2012).

Another international strategy is the global strategy where a company designed a marketing plan for entire global market, the organization now consider global market as largely a market, which means market and competitive approach is designed largely on a global scale respectively (Winters, 2015).

This report focuses on the advantages and disadvantages of using licensing as a market entry tool in the global market supported by examples of two companies from different country origin with their operations in other countries.

A firm’s structural choices always involve two opposing forces: the need for differentiation (focusing on and specializing in specific markets) and the need for integration (coordinating those same markets). The way a firm is organized along the differentiation-integration continuum determines how well strategies, along the localization-globalization continuum, are implemented. A globalization strategy treats the world as one market by using a standardized approach to products and markets.

Companies can decide to go global or to enter international markets for various reasons, and these different objectives at the time of entry that enable the business to produce different strategies and the performance goals, and even forms of market participation.

When a company goes global, it has access to thousands of buyers leading to profit maximization and create a better brand image.

As trade increases hyper-competition grows forcing organizations to go global. By a company going global it requires them to rethink strategy and reform (Ananthram and Pearson, 2008). Global organizational structure is the way a company aims to merge local preferences with global strategy. The definition of global strategy is “strategic choices that have the characteristics of being globally uniform or integrated,” (Yip et al., 1997) such as standardization of products, uniform marketing, and competitive moves, but all globally (Townsend et al., 2004; Zou and Cavusgil, 2002; Bayraktar and Ndubisi, 2014). Global strategic strategy is a way to adjust to globalization. Globalization is “the economic and social process by which economies and communities grow inextricably interdependent “(Jhirad et al., 2009). The recent financial crisis (Das, 2010), large amount of poverty, and climate change are all problems that show how the world is globally connected because all countries impact each other (Jhirad et al., 2009).

This research is focused to understand how a Global company is able to adapt to different marketing situation that is existing in different countries. A company can said to be Global if it can sell its products at a reasonable price with a dependable quality in every nation it serves. The concept of Global Marketing is viewing the entire set of countries markets as one unit and then developing a marketing plan through cost standardisation.