Question

Discuss Global Promotion Strategies and how they differ between countries. What options do companies have in promoting their products?

Answer 1

Global products promotion strategy is basically practices, thoughts, policies that are requiring for operating business practices at global level. Through the effective and strong presentation of products among the target global audience is called global promotion. Special considerations are necessary when marketing to global customers such as international issues of technology, transportation and regulation.

These are the following global promotion strategy -

Extension- A straight product extension is presenting product to a global marketplace without any changes. Some products are globally known and need no additional product or promotion changes.

Adaptation- Production and promotion adaptation strategies are used in a global market for a product that may be popular but needs to be adapted to meet local customs and demand. For example, customers of less affluent countries may need a product of similar quality that has been downscaled to be more affordable to purchase.

Invention- Another product and promotion strategy is inventing a new product to meet the needs of a particular country. For example, consumers in crowded commuting conditions might need a laptop product that better fits their travel situation, a more compact version of the typical laptop.

Pricing Considerations- Global product and promotion strategies must take into consideration the economic conditions of the country where products are introduced. For example, a price that might be discounted in the United States would be considered too high for poorer countries or perhaps not high enough in rich countries.

Global products promotion strategy differs from country to country because of the customer’s income levels, education levels, lifestyles, religious status etc. Companies are always focusing while promoting their products in the different countries.

Companies have several options to promote their products in global market like hiring celebrity, sport persons and other well known personality etc. Companies are involve in promoting their products in global market in following ways-

1. Share on Social Media
2. Share Customer Reviews
3. Charity Events
4. Partner Events
5. Special Guest Events