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Global Marketing Strategy And Its Effect On Firm Performance

Decent Essays
Businesses that wish to operate on a global scale must consider national cultures because of the four Ps of marketing. If a company wants to be successful on a global scale they must know how much it will cost to operate, what product they will be selling, how they will promote it, and where they will be operating in different areas. They will need to know if they will adapt to the market or keep the same business strategy they already have depending on different cultures.
In order to implement the four Ps you must understand different cultures or risk failing. There are many things that need to be considered but I believe the marketing aspect should be prioritized. “Many researchers argue that global marketing strategy plays a critical role in determining a firm’s performance in the global market” (Zou and Cavusgil 41).
As the reading states, “The GMS: A Broad Conceptualization of Global Marketing Strategy and its Effect on Firm Performance,” businesses must form a global marketing strategy. Businesses need to be concerned with the relationship among the firm’s marketing procedures across countries instead of focusing on a single country. They must aim to improve overall performance on a global basis. A lot of hard work goes into this. In order to be successful in other places of the world you need to find what the customers want, where they shop, figure out how to produce the item at a price that represents value to them, and get it all to come together at the right
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