Global Marketing

6701 WordsApr 23, 201227 Pages
CHAPTER 1 INTRODUCTION TO GLOBAL MARKETING SUMMARY A company that engages in global marketing focuses resources on global market opportunities and threats. Successful global marketers such as Nestle, Coca-Cola, and Honda use familiar marketing mix elements – the four Ps – to create global marketing programs. Marketing, R&D, manufacturing, and other activities comprise a firm’s value chain; firms configure activities to create superior customer value on a global basis. Global companies also maintain strategic focus while pursuing competitive advantage. The marketing mix, value chain, competitive advantage, and focus are universal in their applicability, irrespective of whether a company does business only in the home country or…show more content…
Value to the customer can be increased in two ways – 1. an improved bundle of benefits or 2. a lower price. 1. Marketers may improve the product, design new channels of distribution, communicate better – or a combination of all three. 2. Marketers may seek ways to cut costs or lower the price. Nonmonetary costs may be lowered by decreasing the time and effort customers must expend to learn about or acquire a product. If a company is able to offer a combination of superior product, distribution, and promotion of the benefits AND offer lower prices than its competition, it should enjoy an advantageous position. Discussion Question #1: What are the basic goals of marketing? Are these goals relevant to global marketing? Competitive Advantage, Globalization, and Global Industries Competitive Advantage occurs when a company succeeds in creating more value for customers than its competitors. Competitive advantage is measured relative to rivals with whom you compete in the industry – whether that is on a local, national, or global level. Global marketing is essential if a company competes in a global industry or one that is globalizing. • What is “globalization?” PP4 The process of globalization is the transformation of

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