The Scope Of Global Marketing

Presented By : Sandipan Soumya Raviranjan Rajnish Prakash Shashank Presented To : Prof. S .S . Khullar Faculty, MM (II)

Global Marketing
Global Marketing is concerned with planning and conducting transactions across international borders to satisfy the objectives of individuals and organizations.

Half the people in the world have yet to take their first picture. The opportunity is huge, and its nothing fancy. We just have to sell yellow boxes of film. - George M.C. Fisher CEO, Eastman Kodak Company

Globalization of Markets
Global Perspective:
Boeing Company example Peace Works company example

Recent events that have impacted international marketing

High tech and dot.com company bust in early 2000s September 11th terrorist attacks in U.S. Wars in Afghanistan and Iraq

Globalization of Markets
4 Prevailing trends that have the most impact on international business in the future:
1. Growth of the World Trade Organization and region free trade areas 2. Trend of developing countries (such as Asia, Latin America, Eastern Europe) accepting the free market system 3. Impact of the internet and other global media companies 4. Mandate for companies to properly manage resources

Globalization of Markets
Why Global Marketing is so important ? Companies can no longer ignore the effects of internationally marketing Competition no longer exists just from domestic companies In order to sustain profitability and growth margins of the past, companies have to look for alternative methods of marketing their products and services In order to be successful in adapting to the international markets, the market plan needs to incorporate strategies to anticipate as much of the uncontrollable factors that influence both the foreign and domestic markets and allow for maximum flexibility to adjust for future changes

Globalization of Markets
What is the difference between marketing domestically and internationally Marketing concepts are universal (goal is to make a profit) Difference is that in international marketing ALL environments have to be taken into consideration when the marketing plan is developed and executed Must consider the legal environment, governmental controls, climate & weather, cultural beliefs, buyer behavior (uncontrollable elements)

Global Marketing Task

The International Marketing Task Marketing Plan (controllable) Price, Promotion, Product, Place (distribution) Domestic Environment (uncontrollable) Political/legal, competition, economy Foreign Environment (uncontrollable) Structure of distribution, geography and infrastructure, culture, political/legal, economy, competition, level of technology Other Factors within the Foreign Environment to consider: Level of technology Political and legal issues Culture

Developing Global Awareness

To be globally aware, a company must have the following Objectivity Tolerance of cultural differences Knowledge of cultures, history, world market potential, and global economic, social, and political trends

Stages of International Marketing Involvement

1. No Direct Foreign Marketing Company does not actively pursue customers in foreign markets, but receives them thru unintended channels Products are bought abroad through domestic wholesalers/distributors, website on the internet 2. Infrequent Foreign Marketing Company sells to foreign markets only when a temporary surplus of product exists Once surplus is gone, foreign activity is gone Few companies fit this model because of the need to develop long term relationships in foreign countries

Stages of International Marketing Involvement

3. Regular Foreign Marketing Companies produce their products and services to primarily sell domestically, but also internationally Through domestic/foreign middlemen, sales force in foreign countries 4. International Marketing Companies are fully engaged in international marketing strategies Companies are now international or multi-national

Stages of International Marketing Involvement

5. Global Marketing Change from its marketing activities to all activities focused in a global perspective In most cases companies sales revenues are more than of its total revenues Treat the world as one market Market segment is no longer focused on national borders, rather such things as income levels, usage patterns, or other factors are looked across borders

Strategic Approaches to Marketing Internationally

1. Domestic Market Extension Orientation International markets are secondary to its domestic markets 2. Multidomestic Market Orientation Each country has a specific and separate marketing plan to adjust to differences 3. Global Marketing Orientation Marketing activities are global Strives for efficiencies of scale through standardization

Global Marketing and Related Fields of Study

International Business

International Marketing

Global Marketing

International Trade

International Management

International Finance

Conclusion
Global marketing as on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives.