GLOBAL MARKETING
Marketing is defined as “The process of building lasting relationships through planning, executing and controlling the conception, pricing, promotion and distribution of ideas, goods and services to create mutual exchange that satisfy individual and organizational needs and objectives”. When an organization does business globally, it is said to have a business model of global marketing.
The long held belief of marketing is “customer value ““competitive advantage “and “focus “
This means that organizations have to study the market, develop products or services that satisfy customer needs and wants, develop the “correct” marketing mix and satisfy its own objectives as well as giving customer satisfaction on a continuing basis
Whether an organization markets its goods and services domestically or internationally, the definition of marketing still applies. However, the scope of marketing is broadened when the organization decides to sell across international boundaries, this being primarily due to the numerous other dimensions which the organization has to account for. For example, the organization’s language of business may be “English”, but it may have to do business in the “French language”. This not only requires a translation facility, but the French cultural conditions have to be accounted for as well. Doing business “the French way” may be different from doing it “the English way”. This is particularly true when doing business with the Japanese. Ideally global marketing is conducted in phases, or steps. When organizations develop into global marketing organizations, they usually evolve into this from a relatively small export base. In global marketing Organizations begin to develop and run operations in the targeted country or countries outside of the domestic one.
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