#global_marketing
Seven key points in global marketing:
1. Organizations should first dominate their local markets and develop their business at home and gradually abroad. Then they must develop mechanisms to present their products to different cultures.
For example, after domestic expansion in the United States, McDonald’s expanded its business in Canada, Mexico, Europe, and Japan. In North America, McDonald’s offers apple pie as an appetizer, while in Southeast Asia, it offers pineapple pie. McDonald’s offers three meals: breakfast, lunch and dinner in the United States and Canada, while in Russia it offers only lunch and dinner. Today, there are more McDonald’s stores around the world than in the United States.
2. Organizations should create a bright image of their brand, a positive view of quality, price and service for customers.
For example, the CEMEX brand, as a successful Mexican company, evokes the timely delivery of cement in the minds of its customers.
3. Organizations should create customer loyalty.
Unilever, as a very large multinational company, dominates the Indian soap market with a market share of over 60%. For an Indian citizen, using a famous branded product like Lux means that his life has been upgraded. Therefore, Indians have a strong loyalty to Unilever products.
4. Organizations should be innovative in designing new products, offer reasonable prices that can be afforded by the general consumers, and educate customers about their new products.
The Finnish company Nokia is one of the best examples of innovation and training programs for customers. Today, one of the three mobile phones sold in the world belongs to Nokia.
5. Organizations should collect appropriate data about new market needs to create value and promote their global brand.
For example, Sony predicts what customers want before they know what they really want. (like the Walkman product) Today, Sony is the market leader in digital cameras, televisions, and DVD players in the United States.
6. In global marketing, organizations should choose managers with the ability to adapt to different cultures. One of the most important points that companies should consider is to create an international organizational culture in their organizations, while understanding local and national cultural differences well. The ability to speak at least one foreign language is an advantage and necessity for a manager in today’s business world.
7. The last point is really key and it is the possibility of selling through partnerships and business alliances (joint ventures).
Toyota, Honda, Coca-Cola, Sanyo and AT&T are famous companies that have been able to increase their sales through this strategy.
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This post is written by EGH90