GLOBAL MARKET & GLOBAL MARKETING STRATEGIES

PRESENTED BY

VIVEK SINGH RATUL SONOWAL PRINTAJ BARUAH

PRABHATI HANDIQUEPARTHA PROTIM

DUTTA

INTRODUCTION

The term Globalization (or globalisation) refers to processes of international integration arising from the interchange of world views, products, ideas, and other aspects of culture.

Global marketing is “marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives".

Advances in transportation and telecommunications infrastructure, including the rise of the telegraph and the Internet, are major factors in globalization, generating further interdependence of economic and cultural activities.

GLOBAL MARKETING

•Global marketing refers to marketing activities coordinated and integrated across multiple markets. A firm’s overseas involvement may fall into one of several categories:

DomesticRegional exporterExporterInternationalInternational to globalGlobal

INTEGRATED GLOBAL BUSINESS STRATEGIES

•Looking at global business strategies, companies have several choices to make:

first,• the global focus strategy second,• the global business unit.

Formulating Global Focus StrategiesCreating Global Business Units

GLOBAL MARKETING STRATEGIES

•A global marketing strategy that totally globalizes all marketing activities is not always achievable or desirable.

• In the early phases of development, global marketing strategies were assumed to be of one type only, offering the same marketing strategy across the globe.

•As marketers gained more experience, many other types of global marketing strategies became apparent. Some of those were much less complicated and exposed a smaller aspect of a marketing strategy to globalization.

•A more common approach is for a company to globalize its product strategy (product lines, product designs and brand names) and localize distribution and marketing communication.

Integrated Global Marketing Strategy When a company pursues an integrated global marketing strategy, most elements of the marketing strategy have been globalized. Globalization includes not only the product but also the communications strategy, pricing and distribution as well as such strategic elements as segmentation and positioning.

Global Product Category Strategy Possibly the least integrated type of global marketing strategy is the global product category strategy. Leverage is gained from competing in the same category country after country and may come in the form of product technology or development costs.

Global Segment StrategyA company that decides to target the same segment in many countries is following a global segment strategy. The company may develop an understanding of its customer base and leverage that experience around the world.

Global Marketing Mix Element StrategiesThese strategies pursue globalization along individual marketing mix elements such as pricing, distribution, place, promotion, communications or product. They are partially globalized strategies that allow a company that customize other aspects of its marketing strategy.

Global Product StrategyPursuing a global product strategy implies that a company has largely globalized its product offering. Although the product may not need to be completely standardized worldwide, key aspects or modules may in fact be globalized.

Global Branding StrategiesGlobal branding strategies consist of using the same brand name or logo worldwide. Companies want to leverage the creation of such brand names across many markets, because the launching of new brands requires a considerable marketing investment.

Global Advertising StrategyGlobalized advertising is generally associated with the use of the same brand name across the world. Global advertising themes are most advisable when a firm may market to customers seeking similar benefits across the world. Once the purchasing reason has been determined as similar, a common theme may be created to address it.

Composite Global Marketing StrategyMore often companies adopt several generic global strategies and run them in parallel. A company might for one part of its business follow a global brand strategy while at the same time running local brands in other parts.

Competitive Global Marketing StrategiesGlobal firms are able to leverage their experience and market position in one market for the benefit of another. Consequently, the global firm is often a more potent competitor for a local company.

CONCLUSION

•Global marketing is the process of focusing an organization`s resources on the selection and exploitation of global market opportunities consistent with and supportive of its short and long-term strategic objectives and goals.

• In this paper, we tried to analyze the ways a company competes in global

environment by using different strategies. These strategies differ in a way a company’s capabilities and willingness permit. A company must be careful in using these tactics before globalizing its operations. Because sometimes these strategies may fail and result in losses to the organization or even put an end to it.