The Five Stages In The Evolution Of Global Marketing

At its basic understanding, international marketing engages the firm in making one or more marketing mix decisions across national boundaries. At its complex level, it involves the firm in establishing

The world is rapidly developing in most aspects of human life. In the aspect of economy, companies or firms nowadays pursue global plans so as to introduce and develop their products as well as their services in other countries, instead of only focusing on business in their nation. However, the companies’ success depends not only on their own activities but also other factors from outside. Therefore, people have widely adopted marketing systems as a tool to obtain their goals. Some interesting articles and books address this issue. Layton, a professor of marketing at the University of New South Wale in Australia, in his articles “Marketing Systems: A Core Macromarketing Concept” in 2007, examines the

International marketing – Ethnocentric Orientation In this kind of orientation a firm assumes that the process of home country is superior to the rest of the world. They consider that all markets are similar and assume that products and practices that succeed in home country will be successful anywhere. Multinational Marketing – Poly centric Orientation In this kind of orientation firm believe or assume that every country in which a company does business is unique. In order to succeed, they adopt the policy of applying business and marketing strategies differently in different countries. Global Marketing – Geocentric Orientation In this kind of orientation firms view the entire world as a potential market and attempt to develop integrated global strategies. A global company can

The first recommendation for this firm is to adopt a global policy and try and explore new markets so that market growth and market share can be expanded. In case of a firm entering an international market, it requires to analyze the nature of the market and suitably form its marketing strategies in alignment with its business strategy and decide whether it is more beneficial to adopt a global approach or use a strategy that is customized to suit the needs of the local customers.

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

Perreault, Jr. W.D. & McCarthy, E. J. (2002). Basic Marketing: A Global Managerial Approach, 14/e. New York: McGra

Globalization changes many concepts in the international trading and forced all international companies to change their concepts in marketing to survive, therefore, globalization has affected strategically the process of marketing on the global scale whether directly or indirectly especially if we take account the spread use of the Internet which is now considered one of the most important tools of globalization in the economical field which marketing processes comprise one of its basic elements.

The globalization of businesses affects the personal, production, and the business mindset on numerous levels across the board. When the technology we now use for business purposes today was not available, the success one has as a marketing manager for a major company meant, for the most part, the ability to sell and market your companies product domestically at the highest level possible. However, due to the major advancements in technology such as the Internet that have expanded the marketability of companies, the views of what now makes a successful manager have changed. If marketing managers for a larger company were to only focus on the domestic customer and not have a global mindset, then they wouldill surely fail to expand across the seas or to other countries and more than likely lose their job.

International marketing is practiced in all major corporations, there are a large array of advantages companies can benefit from this and very little to lose. By marketing themselves globally, corporations essentially create multiple business opportunities for themselves worldwide when they recognise the opportunities and strive to inform or meet different consumer needs. Several corporations tend to internationalize when the domestic market is not generating lucrative profits for the corporation compared to the domestic market. For example, in 1994, Apple generated an additional amount of $80 million from the foreign market compared to the local market.

Two opposite viewpoints for developing global marketing strategy are commonly expounded. According to one school of thought, marketing is an inherently local problem. Due to cultural and other differences among countries, marketing programs should be tailor-made for each country. The opposing view treats marketing as know-how that can be transferred from country to country. It has been argued that the worldwide marketplace has become so homogenized that multinational corporations can market standardized products and services all over the world with identical strategies, thus lowering their costs and earning higher margins.

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.

In global marketing, the marketing across the national boundaries lies between the potential complexities of international marketing which precisely defines what is involved in it. On the other hand the orders received from other national boundaries are responded by the independent broker too. The company is also involved in the transaction of selling its products and services to the broker with some efforts put in along with the considerations and long term commitment. Majorly it involves the resources from the foreign market activities with some commitment across the globe. The involvement and commitment level of a company in the international boundaries can vary from country to country that has no idea of what does it constitutes to international marketing range of scope and activities. There are different perspective and approaches to organizational structure and system with respect to its non-domestic marketing plans. The export company is the company which deals with the selling of the products internationally or overseas. This company may or may not be having its separate marketing division for exports but uses the same marketing tactics and strategies in domestic as well as foreign export market.

Developing a business opportunity or introducing a new product into the global market place is a risky business at the best of times. Strong and precise business strategies along with extensive market research are the keys for developing a successful global enterprise. This essay will cover the core fundamentals required to best enter the global market while minimizing the risks. Core fundamental include, indentifying potential markets, product competition, risks involved, future growth potential, entry strategy and costs involved to enter the market place.

Marketing strategy is an important aspect of any business's sales and long-term success. As outlined by Ataman et al. (2010), it is the entire marketing mix that has an impact on the performance of mature brands in the long term. One of the factors in the marketing mix is the place. For mature businesses, it is extremely important to explore new locations and opportunities for resources and expansion. Oviatt and McDougall (1994) elaborate that while there are organizations that operate on the International level since inception; there are others for which it is really important to explore new ventures. The authors present a framework for this purpose in which they identify four elements that are important for multinational enterprises. These characteristics include internalizing some transactions, relying on alternative governance for accessing resources, establishing advantages through foreign locations and gaining control over unique resources. Emerging markets are proving to be the center for new ventures because of the opportunities, unique resources and facilities they have to offer. Other than the physical resources and legal facilities, as outlined by Catorelli and Goldberg (2009), there has also been immense globalization of banking because of which local as well as foreign owned banks are increasing their exposure for cross-border funding to increase opportunities for capital, rather than just concentrating on

When companies decide to enter the international business market they can do so via two different strategies, the multinational and global strategies. These two may seem like they are the same but in reality each strategy is very different. The multinational strategy’s main purpose is to adjust the product being offer to better appeal to the people or place to where it is being offer, while the global strategy does not make that distinction. Using the global strategy means that the same market strategy used in one country can also be used in another country without regard to the place, people or their culture. It may perhaps sound like an unreasonable strategy but when the product you must sell is standard the most important factor is cost; the global strategy succeeds in this regard.