Key Takeaways
Global Marketing follow the same framework of Domestic Marketing, but the complexity comes from the multicultural target markets.
Global Marketing focus on standardization, with some tweak elements to different nations.
It is extremely important to get to know the environment of the market you plan to do business at. That includes understanding the culture, political and social characteristics, local laws, status of economy, etc.
The success of a product or service in one country doesn't mean its success in a different nation.
The advance in technology (TV and Internet especially) made it a lot easier for the exchange of information between countries; and a global brand is a shared symbol between the different cultures.
In today's economy, for a company to lead it has to expand across the borders. The Marketing is the department that will analyze the internal characteristics of the organization (financial, production, administration, etc.), study the characteristics of the different markets (culture, laws, economic situation, demand, etc.), and then try to find the best way to combine both, creating the right value to the right customers, in the most profitable way possible.
Global Marketing focus on standardization, with some tweak elements to different nations.
It is extremely important to get to know the environment of the market you plan to do business at. That includes understanding the culture, political and social characteristics, local laws, status of economy, etc.
The success of a product or service in one country doesn't mean its success in a different nation.
The advance in technology (TV and Internet especially) made it a lot easier for the exchange of information between countries; and a global brand is a shared symbol between the different cultures.
In today's economy, for a company to lead it has to expand across the borders. The Marketing is the department that will analyze the internal characteristics of the organization (financial, production, administration, etc.), study the characteristics of the different markets (culture, laws, economic situation, demand, etc.), and then try to find the best way to combine both, creating the right value to the right customers, in the most profitable way possible.
Example of Global Marketing
McDonald's is a great example of a global company. Its brand is recognized everywhere (the yellow arches), even though the marketing mix is different from country to country. The following video exemplifies very well everything that was presented in this website.