Global Marketing Strategies

A firm 's international marketing program must generally be modified and adapted to foreign markets. This international marketing program uses strategies to accomplish its marketing goals. Within each foreign nation, the firm is likely to find a combination of marketing environment and target markets that are different from those of its own home country and other foreign countries. It is important that in international marketing, product, pricing, distribution and promotional strategies be adapted accordingly. In order for an international firm to function properly, cultural, social, economic, and legal forces within the country must be clearly understood.

After reading the "Direct Mail" article posted in our course, discuss three things you learned related to online giving trends of donors from different generations.

Gambit Sports Outreach Program is designed to reach the children and the residents of Haiti. Gambits purpose is to develop a nonprofit sports soccer facility that focuses on educating the whole person through education, nutrition and sports. Children are in important part of our future and Gambit wants to be able to help Haiti and the children build up confidence in the people as well as a positive change. Haiti is a place that is known for soccer and Gambit wants the chance to build up Haiti and the people that live there.

The firms select the target market in which the customers have a similar needs, preferences, perception, expectations, and taste etc. They should consider some factors at the time of targeting market are consumer's lifestyle, social status, age group, education and income etc (Caiazza, Very and Ferrara,2017). The most significant decision that firms have to be taken is that to done the marketing function at international or not. Therefore, when they decide to go at the global level they must have known about the legislations and regulations of the global market. Therefore, the firm cannot globalize market as they do not have a sufficient knowledge about the international market’s rules and

In global marketing strategy, standardization involves selling products or offering services which are similar, with the same advertising and promotional methods, pricing and location strategies in different countries of the world. On the other hand, adaptation involves selling products or providing services that have various features based on the different markets in varying nations to satisfy the human needs or wants considering their cultural differences (Spielmann & Delvert, 2014). It is upon the multinational companies to find an efficient way of employing these two global marketing strategies to ensure that they enjoy the benefits that accompany the combination of the two methods.

This means that a customer belonging to a certain bank can withdraw more money than the balance in his account. However, the bank sets the minimum limit that a person can withdraw depending on his credit worthiness.

The Eclectic model , or most commonly know as the OLI model is a framework used by MNC ( multinational

The original formula for Red Bull was developed in 1964; however, the Red Bull company was not founded until 1984 after a merger between Dietrich Mateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to “treat jet lag and boost energy for truck drivers” (Hollensen, 2012). In today's era, Red Bull is commonly used as an energy drink; like coffee, and as a mixer in alcoholic drinks, like Red Bull Wings and the Jägerbomb. This aligns with the company's focus on the younger generations of partygoers and post-secondary students.

The literature on international marketing presents a confrontation between two mainstream schools of thought regarding international marketing. The one supports the standardization approach and argues that multinational companies’ behavior should be uniform to minimize total costs and promote a global corporate image. The other argues for the need for adaptation to fit the unique dimensions of each local market. This research investigates companies’ practical level of adaptation and standardization in international markets. It identifies

1a. Firms adopt standardize international marketing strategy use standardized marketing mix(product,price, people, promotion,place, process management)when expand their market across country or region ,the advantage of using this strategy includes economies of scale in production and promotion,economies in products development and research, global uniformity of marketing practices,consistency in brand image and easier control and planning ,lower marketing costs and it also offer the company the ability to leverage.

In order to globally connect with the target market and successfully market products internationally, it is important for a company to know the market, recognize cultural values, localize the marketing campaign, and take into consideration the language barriers.

The key issue discussed within the article was about whether companies with brands that run across countries should go global or localize their advertising campaigns for multi-national brands. Global marketing campaigns allow for brands to run the same marketing campaigns across many different countries, utilizing the same creative with few changes across multiple regions of the world. Global marketing campaigns are very efficient because they allow for a single creative message to be utilized which is cheaper and faster to produce, allows for easy media purchases, and is simpler to traffic creative to different locations. In the case, the marketing team for Johnny Walker wanted to utilize this global marketing method, by creating one commercial that could be run across multiple countries with little to no variations to the creative in each market (only small changes would be made, e.g. translating languages). The problem with global marketing campaigns is different countries often have different interpretations of the creative, due to the unique cultural, demographic, and economic situations they are surrounded by. This can lead audiences within one country to be highly receptive to a message, and an audiences in another country to interpret it in a different way. In the Johnny Walker example, they created one commercial that featured young men doing different extreme and exciting adventures, showing that Johnny Walker empowered them to do what they wanted in their lives.

For most manufacturers, success or failure is determined by how effectively and efficiently their products are sold through their marketing channel members (e.g., agents, wholesalers, distributors, and retailers). Given this situation, considerable marketing channel research has focused on organizational responsibility for managing channel how interrelationships among a firm and its channel members can be managed better (Achrol and Stern 1988; Anderson et al 1997). Globalization of markets is a phenomenon that has received much attention and been extensively debated both at general societal/institutional/cultural levels and at market and business levels. In any globalization process, distribution of goods and services

It’s essential to localize or standardize the company’s marketing mix when competing in the international market. Localization or Standardization Strategies both have advantages and disadvantages. However, As Vrontis argued that no company choose to use either strategy solely; instead, finding the integration of both strategies to have effective marketing tactics (2005). That can be a good choice for the company’s

Levitt,1983 mentioned for the first time in his article in the Harvard business review about standardized marketing strategy. He stressed that companies who want to explore internationally should develop standardized products and market them internationally with standard prices, quality and advertising. He referred standardization as building the global brand and product. But the Mooji,1998 argues