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Global Marketing Case Study Assignment
Global marketing assignment is concerned with the marketing strategies related to expanding the business on an international scale by promoting its products or services in MBA courses. Although it includes selling of products or services to international level, it is not limited to that. It comprises planning, creating, positioning, and promoting products or services in the global market. Global marketing is applicable to those products that have universal demand. Global marketing is the area of study that is incorporated under general business management that tries to aim solutions for market products, services and deal with the customer locally, nationally, and internationally.
The global marketing processes are carried on through import and export, foreign investment, joint ventures, and several other international trade activities. The selling of products and services globally is crucial for increasing the competency level.
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Some of the important global marketing strategies are mentioned below:
- Creation of a strong brand culture: In the contemporary age, it is crucial for the customers to see what brands they are supporting as it is assumed to reflect their taste and choice of lifestyle. A brand culture that is familiar to consumers attracts the consumer more. Often customers choose or attract to products that have higher brand value.
- Planning a global campaign: After the product is ready to sell in the global market, the publicity campaign of the product begins. The global marketing agency looks after media attention, creativity, and other mass advertisement ways.
- Packaging and Pricing: Price is one of the critical things when a product is all set for a new market to enter. Most essentially, it affects the consumers’ ability while purchasing a product. It is one of the primary elements of the marketing mix. Packaging too affects the choice of customers as it attracts for purchasing the product.
- Market without boundaries: There is no difference in strategy as the product is to be put on the market. A unified marketing strategy that can help the product compete in the market needs to be adopted.
Four elements of global marketing
- Product: The product which has been launched in the global market must have universal demand and has the ability to compete in a global environment. An organization must know how to bring change in their products according to the changing demand of different locations.
- Price: The price differs based on the cost of production, the supply-demand setup, and several factors which affect the pricing strategies in the plan. Price plays a vital role in the marketing of a product. It can help in making it different from others and enhance the image of the product.
- Place: It is the point where the sales proceeds take place. The practices and policies adopted for the distribution affect the demand for the product. It influences the product position in the market.
- Promotion: It is undertaken to increase the customer base and enhance the image of the brand. It helps in making a strong brand value. Several activities, such as digital marketing, press report, advertisement, publicity, etc., are adopted.
Advantages of global marketing
- Marketing strategies help to reach a variety of customers. It assists the company in gaining knowledge of the different choices of the customers. It can increase the competitiveness of the organization.
- The company operates in the global market remains consistent in maintaining the brand image of the product.
- The marketing practices adopted by the organization remain uniform and consistent that can increase the sales value of the product.
- It can improve the communication standard and coordination in the marketing strategies of an organization. New approaches which are taken can increase the brand value of the product and the sales.
Issues that occur in global marketing
- Lack of adaptation of sales and marketing channels is one of the issues that occur in the global market.
- Many organizations work according to the political environment in their country that determines their policies and ways to be adopted.
- Language and distance are also some of the issues that can influence the global market.
- Differences in product development, brand, and competitive environment influence the value of the product and the decision of the customer as well.
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