Global Marketing
Having a standardized or uniform marketing strategy for both local or domestic and international market will only be effective if adequate market research is conducted.From the domestic marketing approach, a company starts exporting to the foreign market.
Some companies fail in going global because of the false assumption that the approaches that work in their country goes true in the international aspect.Global marketing is not a breakthrough or something that is revolutionary; it is an evolutionary process.Marketing research, development, production, and marketing strategies are conducted on regional levels but not across regions.Companies go up the ladder at a multi-national setting and would want to take advantage of the economies of scale.Failure to consider the diversities and differences in culture and other factors may cause the breakdown of thebusiness.A company that is considered a global marketer sees the world as a one large market.An international business must find out whether certain strategies for global marketing are also effective to the larger market.The creation of products and services are intended for the home market and does not consider the possibility of making it available and beneficial to larger markets.Global companies progress in their marketing plans in various phases.However, marketing mix decisions are made according to the various target markets of each country.
Not all companies can afford to become global but definitely all global orinternational companies started out as domestic-only businesses.A business that promotes and advertises its products within national boundaries only competes with companies of similar marketing scope.This phase is called export marketing.Marketing decisions are made to be uniform across foreign branches or offices.Domestic marketers do not put emphasis on the market changes in the global setting.Once exporting process is becoming a success, certain factors would push the company to expand and put up offices outside the country in order to facilitate a more convenient business setting.So, these businesses embark on the same product, same marketing campaigns and even the brand names and packaging.It starts out with domestic marketing.Instead, they are more focused on how they can create a competitive advantage against other companies in the home market.