Marketing Analysis : Marketing Strategy

Globalization is one of the crucial factors that have impacted the business. Without the proper utilization of the effects of the globalization, it is very difficult for a company to get the competitive advantage. There are many factors that need to be considered before rolling out the product in the global market. The first is to analyze the value chain of the company and to understand and decide on the position where they management wants the company to be into. Then comes the licensing,

Today, firms have to deal with a global marketplace; marketers have no other choice. Participation in global marketing has begun to shift from a mere “option” to an imperative. The world is becoming more homogeneous. Distinctions between national markets

Selling a product internationally along with the 4 P’s (planning, producing, placing, and promoting) process of a company is called global marketing (Global Marketing, 2017). Being global is important because companies are able to reach customers from all over verses in one particular town. Offering different products and services for a variety of

3) Global marketing may take the form of diversification strategy in which a company creates new products or services for the domestic market.

The continued accelerating pace of change in globalization is forcing an entirely new level of emphasis on individualized, highly targeted marketing across the many regions and countries of the world. Global marketing today must contend with a wider array of constraints, both economic and cultural, that as ever been the case in the past (Gupta, 2003). These constraints fuel a high level of creativity and focus on how to overcome cultural and economic constraints through rapid product development lifecycles, exceptional levels of supply chain integration (Wu, 2011) and greater focus on relationship market over just selling with a transaction mindset alone (Hansen, 2008). The pros and cons of globalization of form the foundation of today's highly competitive global marketing arena, forcing many companies to be more focused on the strategic and long-range over the tactical while compensation for a rapidly changing cultural mix of factors (Osland, 2003). The pros and cons of globalization are evaluated and the unique factors of global marketing also analyzed.

Company has to make the marketing strategies for making the product success in the market. And those general strategies would be effecting in different context throughout the company. To enter into the global market company has to use different signs, symbols, shape, slogans, by which is easily understandable to that country because if the product is not easily memorable to customers then they will easily move to the substitute product and then the product will have a chance for failure in that market. So before entering into the global market company has to research all the taste and preference of that country because to enter in to the new market it wants a very huge expense.

With the advancement in communication technology, transportation and other technologies the world has shrink into a global village. Products developed in a country are now widely accepted in other regions of the globe as well. Many companies have been developing marketing strategies to fulfill the need, in an increasingly globalize market, for several years. There are a number of companies that are being recognized by and whose brand names are familiar to most of the people in every region of the world. With the span of time, the global competition is becoming more and more intense and is affecting businesses in almost every part of the world. Those domestic companies who have been doing business in a specific region for

Sometimes product localization is not enough to break into the foreign markets because their cultural differences or ethical values are so marked that the regular product would not be acceptable. A company needs to be prepared to introduce new and radical products that cater and adjust to the local culture. Conducting market research analysis before embarking in business in a new area is one way to know and understand the needs of the potential customers. A successful international business must respect the cultural, religious, and other beliefs of other countries when deciding on new product lines.

A company that wants to market its product globally has only two branding strategies available: either use the brand name everywhere or develop a new brand name for each different market.

When an organisation takes that step to expand from a domestic to an international platform, one of the most important factors to consider is marketing. International development for a company can be challenging, and the two overarching factors to take into account are; technology and globalisation. Technology dictates what the market wants. Globalisation dictates the economic realities of international development. The opportunities of marketing internationally include Market Expansion, Brand Reputation, Global Networking, and access to Future Opportunities . The challenges that marketing internationally creates for a firm are; Global Market Needs, Brand Name Power, Cultural Factors, International Partners, and the Logistical aspect of distance and time . Overall, in modern society with all the aspects of globalisation and technology it is significantly easier to be develop a company to an international level, which can create huge profits.

If we want to go global in the world market then we must know the trend of the market, what features must be there in the product so that it should get popularity among the masses and also should know about competitor’s position in every field.

Companies over the world are striving to become multinationals. Globalisation and corresponding developments in transport and communication technologies have helped companies achieve this objective and find worldwide markets. Needless to say, aspiring companies need research and knowledge about markets to back their willingness to expand to foreign markets. All markets are different and pose different challenges to operate. For instance, each product has its own unique selling preposition and a one-size-fits-all strategy is not applicable across the global markets. It is important to have knowledge about factors such as people’s potential to buy the product,

“The issues confronting the political campaigner are strikingly like those standing up to the marketing supervisor. A set of associations in every space go after the dependability of the focused on business sector; the consumers/citizens are the decision makers, with their decision normally suggesting some level of responsibility; and the channels of correspondence and influence are practically vague” (Mauser, 1983). Similar to a corporate firm, the association of a political fight could be seen to include phases of "selling" orientations and 'marketing ' orientations (Wring, 1996). The offering idea is a typical business introduction that pushes utilizing forceful promotions and offering strategies, and is regularly utilized with

The world offers significant business opportunities for every company, however, opportunities are accompanied by significant challenges for managers. Managing global operations across diverse cultures and markets represents a big challenge and opportunity for companies. To compete in the global market and be successful, companies must learn the strategies, policies, norms and technology necessary to conduct international business. The opportunities for global expansion are numerous, and attaining success is a matter of developing the right strategy to win local markets and its consumers.

Marketing concepts, processes and principles are universally applicable and the marketer’s task is the same whether doing business in different countries.