Question

Find a current event article about some topic from chapter 14. This current event must be no older than 2 months. Here's what to do:

1) find your article

2) under the discussion for chapter 14 post a short summary of your article and explain how it fits in chapter 14 (Chapter 14 is all about global marketing. This chapter goes over some of the strategies used to market your company on a global scale).

Be sure to include your link or article Title so students can go read the article.

Answer 1

Answer- Firstly we have to understand the term What Global marketing is?

Global marketing is “marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives".Global marketing is also a field of study in general business management that aims to market products, solutions and services to customers locally, nationally, and internationally.

Importance of Global Marketing Strategies.Developing a global marketing strategy helps your business in many ways. The first way is that marketing globally improves the effectiveness of your company's products and services. Another benefit of global marketing is that it increases the customer awareness of your company.

The advantages of global marketing include:

• Economies of scale in production and distribution.
• Lower marketing costs.
• Power and scope.
• Consistency in brand image.
• Ability to leverage ideas quickly and efficiently.
• Uniformity of marketing practices.
• Helps to establish relationships outside of the 'political arena'

The three global marketing strategies-

Beyond its breakdown per country or region, a global marketing strategy almost always consists of several things: (1) uniform brand names(2) identical packaging; (3) similar products; (4) standardized advertising messages; (5) synchronized pricing; (6) coordinated product launches; and (7) harmonious sales campaigns.

4 Ways to Develop Your Global Marketing Strategy

1. Check out these 4 tips to begin developing your global marketing strategy.
2. Know the Market. When you first decide you want to expand your marketing to a global level, you need to understand the environment with which you will be working.
3. Develop a Marketing Plan.
4. Customize Your Marketing Approach.
5. Localize Your Message.

What are examples of global companies?

There are other global companies, such as the Hilton and Hyatt Hotels, Adobe, Cisco, 3M, Monsanto, and American Express. These companies range from hospitality companies to tech and manufacturing companies. This shows that many types of global corporations exist.