Global marketing

economic-dictionary

Global or international marketing is a discipline based on a sales strategy designed for a product or service within a single world market, which in turn includes micro-markets in the form of countries.

The companies that put it into practice seek to achieve success in all areas where it is applied, in almost every country on the planet, integrating consumers with similar needs.

In our globalized world of the 21st century, as markets open up and unify, the pace of change accelerates and technology reduces distances between countries, new sources of competition emerge at all levels of the organization.

Companies that use global marketing seek not to be left behind in technological progress. They use strategies that allow them to be competitive and in the more places the better. Global marketing, and never better said, aims to encompass all places.

To carry out this type of action, companies are aware of adapting their sales product with certain characteristics that make it acceptable for other markets, be it in size, shape, design, performance and even color.

Global economy

Advantages and disadvantages of global marketing

These are the main advantages of global marketing:

  • It enables the company to take advantage of the economy on a global scale.
  • A company can choose to offer a product that is the same for all markets: standardization.
  • It saves companies costs, since it can buy the raw material in large quantities.
  • It stimulates the knowledge of the opportunities of the international markets and of the need to be competitive at the international level.
  • The increase in competition forces to improve the product or service that is offered. Superior value is given to consumers.

Similarly, global marketing has disadvantages such as:

  • It does not research each market in depth. It stays on the surface and not on the bottom.
  • The strategy to follow may not work in all markets, as the needs of consumers are very different from each other. To find out, it would be necessary to dig deeper and investigate much more.
  • The products or services that are sold may be popular in one country, but not in others. There are different needs, and therefore not all products have the same draft.
  • Distribution systems may vary greatly from country to country. Without a doubt, a problem that can be very damaging when implementing this type of marketing.

Global marketing is not a revolutionary change today, it is an evolutionary process that has been going on for a long time.

Many of the sales campaigns that start out being local or regional end up being internationalized due to the existing competition in the market, the desire to improve the product or service or simply the economic growth of the company.

Advantages and disadvantages of globalization

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