Global Marketing Strategy

The definition of the concept of standardization in business is hugely dependent on the nature of business activity under consideration (Roach 2007). Although the concept is easily defined in the marketing context, since it is defined in terms of the 4Ps (product, price, place and promotion), the concept is more complex when used in the context of the product choices. A multinational corporation would be forced to make a decision on whether to adopt complete standardization, which involves creation of completely new product for each geographical market or complete

To remain competitive, the company continually seeks to innovate by building phones that are slim and well designed. It is important that the organization remember that customer needs constantly change and their products should change as the market changes. Products also go through what is known as the product life cycle.

Danreid and Sanders (2007) refers product design as the process of defining all the features and characteristics of the product. Generally, consumers respond to a product’s appearance, colour, texture and performance. All of it features, summed up, are the product’s design. More precisely, Product design defines a product’s characteristics, such as its appearance, the materials it is made of, its dimensions and tolerances, and its performance standards (Danreid and Sanders, 2007)

In the fierce competitive environment where customers expect the products they purchased are unique and customized, and the price should be as low as mass-produced items (Radder & Louw 1999). Therefore, more companies realize that a profound change in production procedures and flexibility of structures are needed to meet the challenges. While Mass customization (MC) has provided an opportunity to cope with varied customer needs, such as Dell computer, Daimler smart car, Swatch, IBM, Proctor and Gamble and Hewlett-Packard, leading a successful business practices by accommodating specific customer requirements (Selladurai 2004). Originally, the notion of MC was coined by Stan Davis (1987) in his book “Future Shock”, which defines MC as a fundamental paradox allowing firms to produce as various goods as possible based on volatile customer needs, but in a cost-effective way.

Product platform planning seeks to decide on which product developments are to be worked on, while deciding on the time frame and order of each project that is to be worked on. Product development ideas stem from sources such as consumers and marketing. The degree of competition from other company’s affects the product planning. In order to grasp the basic concept of product platform planning, one has to understand that the platform is a sum of assets shared by a range of products. For example Blue Ribbon produces bread with the basic shared requirement of wheat while creating variants of bread. The assets are categorised as follows:

In the current literature there is a disagreement as to what level of customization is required for a production process to appropriately fall under the purview of mass customization. Those who have coined themselves “purist” believe that a mass customization concept must produce products that fulfills all the requirements of an individual customer. The “pragmatists” on the other hand say that mass customization is about allowing customers to choose from an independent and predetermined number of options to meet their needs (Stojanova, Gecevska, Anisic, & Mancev, 2013).

Global strategy is considered as a detailed plan on how an organization or a firm can be successful marketing its products or services at global level to enhance business growth, and increase profit margin (Lynch, 2014).

limiting them from undertaking necessary creative decisions to improve performance in the entire process. In essence, this implied that before commercialization, the product must have gone through the entire process reviewed by independent groups who have autonomy to suggest modifications based on their market research, and hence make the end product suitable for the intended niche of customers. Ideally, this assertion promotes the concept of having decentralized functions in organizations (Nadia, 2013).

Consequently, the name “Sony” became more familiar than the name “Tokyo Tsushin Kogyo” because it was difficult to understand and to recognize. Finally, in 1958 Tokyo Tsushin Kogyo’s managements have decided to register “Sony Corporation” as its official trademark by an intention to establish “SONY” as an international recognized brand. This can be considered as Sony first move in doing global strategy. Presently, Sony has become one of the most world recognized brand (Richard A, 2002).

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.

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A recurring debate exists relative to product planning and focuses on the question of standardized products marketed worldwide versus differentiated products adapted or even redesigned for each culturally unique market. Those with a strong production and unit cost orientation advocate standardization and others, perhaps more culturally sensitive, propose the policy of a different product for each market. The issue cannot be resolved with a simple either/or decision. Cost revenue analyses need to be done and decisions made in the hard, cold lights of profitability. There is no question that significant cost savings can be realized from having standardized

Even Chinese brands have made significant progress in increasing market share in the consumer electronics market globally, product differentiation still remains as one of the biggest challenges facing Chinese brands as the market has become fiercely competitive. Take the smartphone sector for instance, most of the “innovative feature” claims

Canon aims to realize sophisticated SCM that considers not only procurement and production processes but also the design process. Sophisticated SCM will be based on the concept of eliminating intermediate inefficiencies throughout the process, from development to sales and marketing. , it will be able to minimize lead times, prevent stagnation in parts and product distribution and directly connect production and sales activities. Based on the aforementioned strategies, Canon is promoting the establishment of an optimal global production structure. Canon’s optimal global production structure will take into consideration such factors as the environment, product quality, costs, logistics, consumer markets, human resources and parts procurement. One way Canon is building such structure is through localized

These days, it can commonly be seen that many companies start offering customers the same products and services. Particularly, when it is likely that those products and services are in such high demand. For customers, this is a good value for them to have more options on selecting their most preferable and quality product. In consequence, this circumstance will encourage more competitive of trade in those products and services markets. Therefore, the most challenging work for emerging company is to consider how to make their own products preferred by most consumers. It may seem pointless to endeavour to compete in such environment. However, it still can be seen that many companies often do come into the marketplace and eventually succeed in selling products and services because they learned how to make their products and services become outstanding and unique than the others. We called this kind of practice as ‘product differentiation’.