globalization

Examples of globalization in the following topics:

• The Global Economy

  • Increased global competition, financial flows and internet technologies are some of the driving forces behind global marketing strategies.
  • Oxford University Press defines global marketing as "marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives. " The global economy certainly provides advantages to companies wanting to increase revenues and expand their brand.
  • At the global marketing level, global marketing plans must be tailored so that companies speak in many voices rather than just one.
  • The set-up of ancillary industries to cater to the needs of the global player
  • Some of the challenges to marketing in a global economy are:

• The Relationship Between Product and Promotion

  • Product and promotion in global marketing can work together effectively with proper market research and communication techniques.
  • Coca-Cola is one strong example of global marketing.
  • Promotional tactics for global audiences can range from television commercials to social media marketing on Facebook or YouTube.
  • While global promotion enables global brands to engage in uniform marketing practices and promote a consistent brand and image, marketers also face the challenge of responding to differences in consumer response to marketing mix elements.
  • Illustrate the relationship between product and promotion from a global marketing perspective

• Global Marketing Standardization

  • In 1983, Theodore Levitt, the famous Harvard marketing professor wrote an article entitled, "The Globalization of Markets".
  • Adopting this global strategy provides a competitive advantage in cost and effectiveness.
  • Although, global marketing has its pitfalls, it also has some great advantages.
  • In applying the global marketing concept and making it work effectively, flexibility is essential.
  • The big issue today is not whether to go global, but how to tailor the global marketing concept to meet the specific needs of each business.

• Changes in Placement

  • The global marketing mix comprises four main elements: product, price, placement and promotion.
  • Global marketing presents more challenges compared to domestic or local marketing.
  • A global luxury brand would not want to be distributed via a "dollar store" in the United States.
  • Global brands attempt to place products in locations where consumers will be most receptive to their messaging.
  • Examine the rationale behind product placement from a global marketing perspective

• Are Global Corporations Beneficial?

  • International expansion can drive significant shareholder value, but the net impact of globalization is hotly contested.
  • A global company is generally referred to as a multinational corporation (MNC).
  • Combining these four challenges for global corporations with the inherent opportunities presented by a global economy, companies are encouraged to chase the opportunities while carefully controlling the risks to capture the optimal amount of value.
  • Over the last seventy years, McDonalds has become a global corporation.
  • Discuss the benefits and challenges of global corporations from a marketing perspective

• Global Marketing and the Internet

  • The Oxford University Press defines global marketing as "marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives. " The emergence of the Internet in the early 1990s and its gradual commercialization through the early 2000s would coincide with the globalization of media and cultural products.
  • This same immediacy applies to global marketing, as it allows brands to reach consumers in various ways and offer a wide range of products and services simultaneously.
  • Luckily for global companies, web monitoring and tracking tools have become increasingly sophisticated and offer insights into consumer behavior both online and offline.
  • For example, social networking websites and personalization features can offer valuable information for global marketers looking to access hard-to-reach and overseas markets.
  • Translate the use of the Internet to marketing on a global level

• Changes in Pricing

  • The goal of pricing in global marketing strategies falls under three criteria:
  • Like national marketing, pricing in global marketing is affected by the other variables of the marketing mix.
  • Global marketers must carefully consider how to position their product in global markets, and whether their products are considered high-end, economical or something in-between according to cultural norms and customs.
  • Placement, product and promotion work in concert with pricing in the global marketing mix.
  • Summarize how proper pricing from a global marketing perspective impacts a company

• Changes in Promotion

  • Thus, global companies must be nimble enough to adapt to changing local market trends, tastes, and needs .
  • Global marketers can use the following approaches when executing global promotional programs: exporting executions, producing local executions, and importing ideas that travel.
  • When launching global advertising, public relations or sales campaigns, global companies test promotional ideas using marketing research systems that provide results comparable across countries.
  • Language is usually one element that is customized in a global promotional mix.
  • Analyze the rationale used to promote products within a global marketing mix

• Global Considerations in Branding and Packaging

  • At the global marketing level, a company needs to launch appropriate marketing plans so results can be achieved across multiple countries.
  • Ultimately, at global marketing level, a company trying to speak with one voice is faced with many challenges when creating a worldwide marketing plan.
  • Effective global advertising techniques do exist.
  • Discuss how language, colors, customs, aesthetics, and placement affect global branding and packaging in products

• Global Marketing in the U.S.

  • Thus, Toyota Motors started out as a domestic marketer, eventually exported its cars to a few regional markets, grew to become a multinational marketer, and today is a true global marketer, building manufacturing plants in the foreign country as well as hiring local labor, using local ad agencies, and complying to that country's cultural mores.
  • Miller and Budweiser, the two largest American beer producers, have entered into global competition with Heineken, partly because the American beer market has been flat.
  • They are doing so by forming alliances with global breweries such as Molson, Corona, and Dos Equis.