1. Global Marketing:
Definition: The process of conceptualizing and then conveying a final product or service worldwide with the hopes of reaching the international marketing community. Proper global marketing has the ability to catapult a company to the next level, if they do it correctly. Different strategies are implemented based on the region the company is marketing to. For example, the menu at McDonald's varies based on the location of the restaurant. The company focuses on marketing popular items within the country. Global marketing is especially important to companies that provide products or services that have a universal demand such as automobiles and food.
2. Global Tendencies affecting Marketing:
Among global tendencies affecting marketing, we can mention:
1. Population growth;
2. Technological progresses: social everything: the new generations and their digital world stepping forward;
3. Proliferation of choice – too many options can lead people to inertia, to overwhelm them (help customers navigate the variety that exists);
4. Sharing knowledge;
5. Globalization – the world is becoming more and more global.
1) Demographics – population trends and shifts;
2) Macroeconomics conditions: inflation (if the prices of products increase faster than the rate of income of the consumer, the sales of goods and services will increase) and recession (unemployed people have less money to spend). Both affect consumer’s ability to purchase goods and services.
3) Government regulations.
These are only some factors that marketers must take into consideration in order to assure the complete success of the company. One way to compensate those whole factors is to diversify a product mix in order to insure that the company is less susceptible to economic and demographic fluctuations.
3. Ways of entering the global markets:
1) Direct export
2) Indirect export...