Essay on Global Marketing
Global marketing can be described as the process of reconciling the global operational differences, similarities and opportunities to enable a business meet its global objectives. It is simply marketing on a global scale. The definition of marketing still applies whether a company markets its products internationally or domestically (Agnihotri & Santhanam, 2003). However, when a company decides to sell its products across international boundaries, the scope of its marketing is broadened due to various dimensions that the company has to account for (Agnihotri & Santhanam, 2003). For example, if the company was marketing its business using one language, it will have to adopt other foreign languages to be able to fit and market its products in the global market. This requires the company to establish a translation facility that would enable it adopt other cultural conditions.
The first article that resonates with this topic is International marketing strategies for global competitiveness. This article was written by Prafulla Agnihotri and Hemalatha Santhanam and published in 2003. The article discusses how various firms gain entry penetration into the global market to improve their competitiveness. The second article is Theoretical aspects of marketing strategy. It was written by Margarita Išoraitė and published in 2009. The article looks at various aspects of marketing strategy that enables a business to get integrated into the global market. The third article is The fundamentals of standardizing global marketing strategy. It was written by Nanda Viswanathan and Peter Dickson and published in 2007. This article discusses how businesses can increase integration into the world’s major economies.Essay on Global Marketing
This paper will mainly focus on the International marketing strategies for global competitiveness. This article is more important for this discussion because it looks at various international marketing strategies that can enable all businesses, including Small and Medium Enterprises, to gain entry and competitiveness into the global market. The main theme of this article is global competitiveness. The authors argue that for a business to gain global competitiveness, the company must have the capability to think and act in complex ways.
According to Agnihotri and Santhanam (2003), business people must understand that this is an era or competition and for a business to remain in the global race, it has to be competitive. Therefore, companies have to design appropriate strategies that will enable them to manage the cost and revenue of their businesses simultaneously, as such; they have to give due credit and effort to innovations and efficiency (Agnihotri & Santhanam, 2003). According to this article, firms which are globally competitive employ effective strategies that enable them to manage their resources globally (Agnihotri & Santhanam, 2003). Such firms take advantage of differentiation, adaptation, and economies of scale to remain competitive in the international market.Essay on Global Marketing
This article has several major implications for global marketing. First, the article implies that marketing strategies should be carefully evaluated on the basis of the company’s competitive advantage and the strength of the company before using them on the international market (Agnihotri & Santhanam, 2003). Therefore, there is the need for businesses to adopt a global perspective in planning a marketing strategy due to the growing competition and increase integration firms in the global market (Agnihotri & Santhanam, 2003). Secondly, this article implies that firms should focus more on a product-driven and orientation strategy rather than a strategy based on market characteristics and systematic consumer behavior to gain global competitiveness.
Different global marketing strategies are employed by different firms to gain global competitiveness. However, out of these strategies, there two which are mainly used by companies expanding internationally. The first one is creating a consistent and strong brand culture (Viswanathan & Dickson, 2007). Creating a brand which is familiar to customers, and which reflects their culture should be a priority for companies that desire global competitiveness (Viswanathan & Dickson, 2007). The second strategy is marketing a product as if there were no borders. In this case, companies have to adopt a marketing approach which is more unified due to the proliferation of digital platforms which do not allow companies to adopt different strategies for similar brands.Essay on Global Marketing
The arguments of the authors in this articles tie to these global marketing strategies. For instance, the authors argue that for a business to achieve global competitiveness, it has to consider innovation. The innovativeness of the company can be seen through its ability to create a consistent and strong brand culture; this enables the company to easily gain integration and remain competitive in the global market (Agnihotri & Santhanam, 2003). Secondly, the authors argue that to be able to maintain differentiation of products; there should be multinational flexibility to enable the business remain responsive as relative prices, technologies and exchange rates change (Agnihotri & Santhanam, 2003). This flexibility ties to the global marketing strategies because it enables the company to market its products across global boundaries.
In conclusion, global marketing enables a business to conceptualize and convey its final product to consumers with the hope of reaching the international market community. If a company adopts appropriate global marketing strategies, it gets integrated into the international market. When formulating these strategies, however, the company should consider the region it is marketing its product to, designing appropriate strategies enables the firm to meet its global objectives and gain global competitiveness.Essay on Global Marketing
Agnihotri, P., & Santhanam, H. (2003). International marketing strategies for global competitiveness. In Research Paper presented at Bangkok in an International Conference jointly organized by Montclaire State University, U. SA and School of Management, Thailand.
Išoraitė, M. (2009). Theoretical aspects of marketing strategy. Ekonomika ir vadyba: aktualijos ir perspektyvos: mokslo darbai, (1), 114-125.
Viswanathan, N. K., & Dickson, P. R. (2007). The fundamentals of standardizing global marketing strategy. International Marketing Review, 24(1), 46-63.