Marketing in the Global Economy

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Marketing in the Global Economy Marlene Garay AIU Online Abstract In today’s world of constant change and technological advancements, it is imperative that marketers stay up to date and ready to tackle and challenges. Companies are battling neck to neck in order to make sure the products they offer are available and in the consumers mind. Not only do they have to be concerned about the local target audience. Now the reach is worldwide and the target audience can be a eclectic mix of races and cultures that demand the same product in many different ways. So the challenge faced by marketers is how to satisfy that audience. Looking a various examples, it is clear that while this is an attainable goal, it is not easy. Marketers can…show more content…
However, management at Starbucks saw a perfect opportunity to go into a market that had not been tapped into yet. With that in mind, they decided to add products to their menu that were not available to the American market and that catered specifically to the local culture. In addition they expanded their line of tea. By associating with a local company, they penetrated the Hong Kong market with great success. More recently, the Swedish retail chain, H&M launched a campaign for their new product line and found that some of the pictures in their campaign were too revealing for the Dubai market. In order to overcome that issue, some of the photos were photo shopped to cover arms and a hint of cleavage. By adding a t-shirt under a tank top and sleeves to a turtle neck, they avoided any negative imaging and were able to introduce the same product to a different market (London, 2011). Before global economy became an issue, it was common in the U.S. to see a campaign for a product done exactly the same no matter where it was. Companies assumed that the message was the same therefore, why change it? However, when promoting a product to different audiences, it should not be an assumption that the message will be interpreted the same way, especially if that message is going worldwide. So in this day and age where technology has such a big influence in what we do, how does it support the change in
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