GLOBAL MARKETING

                    GLOBAL MARKETING

 Global Marketing concept is the overall marketing framework which an international enterprise adopts to design,introduce,distribute,promote,and maintain its products.

International marketing is the application of marketing principles in more than one country, by companies overseas or across national borders.[4] It is done through the export of a company's product into another location or entry through a joint venture with another firm within the country, or foreign direct investment into the country. International marketing is required for the development of the marketing mix for the country.[5] International marketing includes the use of existing marketing strategies, mix and tools for export, relationship strategies such as localization, local product offerings, pricing, production and distribution with customized promotions, offers, website, social media and leadersh.

ADVANTAGES OF GLOBAL MARKETING

Global marketing may lead to:

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'

Helps to encourage ancillary industries to be set up to cater to the needs of the global player

Benefits of eMarketing over traditional marketing.

DISADVANTAGES OF GLOBAL MARKETING

Differences in consumer needs, wants, and usage patterns for products

Differences in consumer response to marketing mix elements

Differences in brand and product development and the competitive environment

Differences in the legal environment, some of which may conflict with those of the home market

Differences in the institutions available, some of which may call for the creation of entirely new ones (e.g. infrastructure)

Differences in administrative procedures

Differences in product placement

Differences in the administrative procedures and product placement can occur.

Global markeing concept

In the past, global marketing was mainly the domain of multinational corporations. Since the emergence of the Internet and e-commerce, even small firms can reach customers across the world.

For example, if you are a small company that makes software, apps, etc., today the world is your oyster.