Global marketing

1. GLOBAL
MARKETING
By:VAIBHAV MITTAL
IBS GURGAON

2. GLOBAL MARKETING
• WHAT IS GLOBAL MARKETING?
• WHYTO SWITCHTO GLOBAL MARKETING / BENIFITS OF GOING GLOBAL?
• PRECAUTIONS BEFORE GOING GLOBAL
• HOWTO ENTER?

4. GLOBAL MARKETING
Global marketing is a product strategy to increase sales through promotion and
advertisements to the international market.
Global marketing is now a days not an option it has moreover become mandatory for
a company to flapper it’s wings on to the globe.

5. WHY IS GLOBAL MARKETING NEEDED
GLOBAL MARKETING is important for an organization mainly in 4 ways :
1. Increase in profit margins
2. Huge demographic coverage
3. A better product life cycle
4. Goodwill of the company
According to Forbes Magazine, Global marketing has increased a lot in the past five years.
And not only the company is doing good in itself going globally but also is serving people
with a wide range of products and services to choose from. If people are unaware that a
product exists to solve a problem, then they do not seek it. Global marketing also
increases the consumer awareness of options available to choose from.

6. DIFFERENCE
DOMESTIC
• Low profits
• Low goodwill
• Less opportunities of growth
• Small target market
GLOBAL
• High profits
• High goodwill
• High opportunities of growth
• Large target market

7. PRECAUTIONS
THEIR NEEDTO BETAKEN CARE OF SOME OFTHETHINGS BEFORE ENTERING INTO
GLOBAL SPACE, FAILURETOTHISWILL RESULT INTO HUGE LOSSES, SOME OFTHEM
ARE:
1. Educate yourself about the customs and etiquette of the international market
2. Gather and analyze historical data on the country’s currency valuation
3. Watch on countries import and export policies
4. Become expert on the company’s law governing business
5. Beware of the competitors and an eagle eye on their strategy in that particular area

8. HOWTO ENTER
MARKETING
STRATERGY
STANDARDIZED
MARKETING
ADAPTED
MARKETING
PRODUCT
STRAIGHT
EXTENSION
PRODUCT
ADAPTATION
PRODUCT
INVENTION
PLACE
EXPORT
DEPARTMENT
INTERNATIONAL
DIVISION
PRICE
TRANSFER PRICE
DUMPING
COMPEDITOR
PRICING
PROMOTION
DUAL ADAPTION
COMMUNICATION
ADAPTION

9. STANDARDIZED MAREKTING MIX
SELLING LARGELYTHE SAME PRODUCTS AND USINGTHE SAME MARKETING
APPROCHES WORLDWIDE
ADAPTED MARKETING MIX
PRODUCER ADJUSTSTHE MARKETING MIX ELEMENTSTO EACHTARGET MARKET,
BEARING MORE COST JUST HOPING FOR A LARGE SHARE AND RETURN

10. METHODS OF ENTERING NEW MARKET
1. DIRECT EXPORT – Companies sell their goods through middle men located in foreign
countries which also let them have control over distribution channel.
2. INDIRECT EXPORT – Export is done through a domestic intermediary like brokers,
export manager, agents etc.This also reduces the risk for company.
3. LICENSING – Providing trademark rights to other companies.
4. JOINTVENTURES – Foreign companies invite a local company to become an equity
partner share risk.
5. MERGES – A company merges with other company globally to help entering into the
market.