Question

The student will write a 2-3 page review of a scholarly article on the global marketing mix or identifying alternatives strategies for entering foreign markets and tactical skills needed to craft PR and advocacy campaigns in different regions of the world. Reviews should include a synopsis and your opinion of the article. The submission is to be double spaced using a 12 point font and will be graded based on depth and clarity. You need to include both the name and author of the article. This assignment is due on 04/30/2020 in class.

Answer 1

Some important points:

1. With globalisation, distinction between marketing within an organization's home country and external markets are disappearing.The organizations are modifying their marketing strategies to meet the challenges of the global marketplace in addition to sustaining their competitiveness within home markets.
2. The 4 P's of marketing are product, price, placement, and promotion which are all affected as a company moves through the different phases to become globally dominant. Promotion becomes particularly important for positioning the company. Coca-Cola is one strong example of global marketing.
3. Coca Cola has a large product portfolio of 500 brands. It provides 3900 beverage choices. It's leading product Coca Cola is world's most valuable brand. Some of the known brands are sprite, fanta, diet coke, coca cola zero. It sells it's product in more than 200 countries.Pepsi is the arch-rival of Coca Cola and the closest competitor in the beverages segment. Both brands price their products competitively. Coca Cola’s pricing strategy is aimed at driving brand loyalty. Due to high competition, the brand spends money on advertising. Coca Cola’s marketing expenditure in 2016 was $4 billion. In 2018, the marketing expenditure grew to $4.1 billion.
4. Succesful implementation of global marketing strategies require brands to ensure that they take into account consumer behaviour which are affected by external and internal factors. They must adapt to changing trends, tastes of the local market.
5. Price must vary from market to market and global brands must be prepared to deal with external influences such as trade tariffs.
6. Global marketing has been extremely beneficial with the Internet because of the elimination of geographic and time constraints. The Internet provides scope and immediacy for marketers looking to reach consumers across different demographics. Technological tools such as behavioral targeting, as well as online groups and communities, allow companies to effectively target consumers in different markets with different needs.