Some areas of marketing that lend themselves to being led at a global or central level include branding and brand guidelines, strategic marketing planning and budgeting (with autonomy given to markets within their allocated budget), large-scale marketing campaigns, social media strategy and guidelines, research strategy, and global PR. Global Business Environment MCQ Multiple Choice Questions with answers, these notes are useful for the preparation of various competitive and academic exams like UGC, NET, BCOM, MCOM, MBA, BBA and many other regular and distance education exams In a decentralized organizational structure, the regions are able to make decisions autonomously, which enables regions to tailor their marketing to local sensibilities. Global marketing and global branding are … “Best Global Brands Report 2010,” Interbrand, accessed October 22, 2010, David Kiley and Burt Helm, “The Great Trust Offensive,”, Bruce Einhorn and Tim Culpan, “With Dell in the Dust, Acer Chases HP,”, Chanin Ballance, “Speaking Their Language: How to Localize Your Message for Global Customers,”. As this whole new frontier opened up, businesses realized there was a brand new opportunity out there for them to generate even more income. What are the benefits of a centralized-marketing organization? Based on the deep insights of Chinese markets, our marketing services will help to expand your business in China. @ COPYRIGHT 2012-2016, Beyond Summits Ltd, All Rights Reserved. Price in global marketing strategies can be influenced by distribution channels, … Coca-Cola uses the Coke name on its cola products around the world but markets its water under the Dasani brand. For example, when Taiwan-based Acer bought US PC-maker Gateway, Acer kept the Gateway brand to use in the United States for midtier PCs. Even the smallest nuance of change in the global environment can ruin a campaign or plan. In a decentralized-marketing organizational structureLocal regional headquarters have the power to make marketing decisions affecting their region., the regions are able to make decisions without headquarters’ approval. It is an important part of planning. Enter your emai to receive the latest announcement. Organizational factors. Another important decision facing the owners of Caffè Gustoso is organization of its international marketing activities. Which Direction Shall Marketers Target at for Enhancing Mobile and Internet Advertising? In some cases, consumers may trust a familiar local brand more than a foreign global brand. Some of the most recognized brands in the world include Coca-Cola, IBM, GE, and McDonald’s. “It is what consumers are looking for and what they share with one another.”David Kiley and Burt Helm, “The Great Trust Offensive,” BusinessWeek, September 17, 2009, accessed November 4, 2010, http://www.businessweek.com/magazine/content/09_39/b4148038492933.htm. Though there is a huge difference between global and local marketing, yet somehow, they are interlinked. These companies are mindful of the cultural and language differences across countries. The advantages of creating a global brand are economies of scale in production and packaging, which lower marketing costs while leveraging power and scope. Here are some strategies that can be taken into consideration: When you get new leads, where are they coming from? Know the trade-offs of centralized versus decentralized marketing decision making. In a centralized-marketing organizational structureThe home-country headquarters retains decision-making power for marketing in all countries., the home-country headquarters retains decision-making power. It can be argued that product decisions are probably the most crucial as the product is the very epitome of marketing planning. Business-level considerations begin with the assessment of the stakeholders involved in the business. A marketing mix often refers to E. Jerome McCarthy's four Ps: product, price, placement, and promotion. As a marketer—as opposed to merely an advertiser—you’ll learn about economics, business management, and product development. Borders seem to be more symbolic now than they are barriers to trade like they were years ago. At the same time, however, each country website has the same look and feel of the main corporate website to preserve the overall brand.Chanin Ballance, “Speaking Their Language: How to Localize Your Message for Global Customers,” Marketing Profs, March 24, 2009, accessed November 4, 2010, http://www.marketingprofs.com/9/speaking-their-language-localize-message-global-customers-ballance.asp. How can a company use the web to promote a global brand while at the same time localizing it. The disadvantages, however, are that consumer needs differ across countries, as do legal and competitive environments. As noted in Section 14.1 "Fundamentals of Global Marketing", income levels in emerging markets are lower, so companies tend to price their products as inexpensively as possible. Nestlé uses a local branding strategy for its 7,000 brands but also promotes the Nestlé corporate brand globally. This low-cost strategy may have consequences for the company’s brand, however. Beyond Summits Ltd is a leading Chinese all-media total marketing solution provider focused on media representative, destination marketing and cross-border marketing. The person who decides to start the buying process: This is typically a Director or SVP who is tasked by their CIO/CTO or CFO with putting together current business challenges and get a feel for the process architecture to create requirements for a software purchase. 4. One way to resolve the challenge is to offer the product at quality levels that are the best in that country even though they would be somewhat below developed-country standards. Global marketing needs to tread a fine balance. PC maker Acer sells its personal computers under four different brands. Centralising resources can really help reduce costs, as it prevents efforts being duplicated across various markets. The advantage of the centralized structure is speed, consistency, and economies of scale that can save costs (such as through global-marketing campaigns). Identify the special challenges of branding decisions in emerging markets. It requires a stable network infrastructure and secure measurements to keep you protected. Errors in product decisions are legion. Changes in Pricing. Most business is done in English. The disadvantages are that the marketing isn’t tied to local knowledge and doesn’t reflect local tastes, so sales aren’t optimized to appeal to regional differences. Jet travel opened up the world to many people, and the expansion of the World Wide Web took that one step further. Proactive decision-making is a strategy where decisions are made before an event happens and reactive decision-making is a strategy where decisions are made only after an event happens. A global brandThe brand name of a product that has worldwide recognition. Once a firm has decided to enter the international market, the next important marketing... Market Entry Decision:. But, if you want customers to learn … The level of participation by governmental bodies at the central and state level in a country is one of the major factors that the fate of marketing environment. 5 Keys for a Successful Global Marketing Strategy, Destination Marketing & Destination Branding, The Social Media Platforms You Must Understand for Marketing in China. 1. Acer also has two other brands, which are segmented by price. List the advantages of a global-brand strategy. Companies invest a lot in building their brand recognition and reputation because a brand name signals trust. Global marketing is the process of adjusting a company's marketing strategies to adapt to conditions in other countries. On the one hand, centralising your marketing operations is a great way to create a single global voice for your brand and control your brand identity. The internal factors that influence the decision-making process in a company are considered as organizational factors. In the case of international marketing, it is particularly important to address the concerns of the stakeholders in the host company. The purpose of brands is to signal trust. One of the key decisions that must be made when marketing internationally is how to set up the structure of the marketing organization in the company—centralized or decentralized. Content marketing is most effective when you understand – and write … Entering an emerging market with a developed-country brand poses an extra challenge. So while global branding, and consumer acceptance of such, is a flattener, significant country differences remain even when a firm has a strong global brand. It's BSL's MISSION to help clients market their products and services to China and the rest of world, assist them in stepping into globalization more effectively, efficiently and professionally. Market Opportunities. Louis Vuitton, meanwhile, earns half its global profits from its 60 stores in the Japanese market. Once you know more, do some researches and see how large the audience group is in that place. This is the tactic Walmart has successfully used in Mexico. The home-country headquarters retains decision-making power for marketing in all countries. Global brands bring economies of scale and marketing power. If you think you have enough leads to try and market globally, remember, you don’t need to “take over the world” in one day. Companies typically manage their international activities in one of three ways: creating an export department, creating an international division, or becoming a global organization. Some of the most recognized brands in the world include Coca-Cola, IBM, GE, and McDonald’s. Using a multibrand strategy is a good choice when a country has a strong, positive association with a particular brand. Indeed, the world does become flatter to the extent a brand is recognized, accepted, and trusted across borders. Therefore, it is important to first understand the need of the local target markets to make strong global marketing strategies. Successful global marketing takes time and often, money too. Local regional headquarters have the power to make marketing decisions affecting their region. In the meantime, you can try to get contact with people who are in the same industry as you, or you can turn to service agency to help you with your global marketing, which would be the next step in getting to know the leads you are seeing. This is far from the case. What Are the Key Marketing Decisions?. For example, if a company introduces its brand as a “premium” product despite having a lower price, how will it introduce and differentiate its true “premium” brand later as consumers’ incomes rise? Be familiar with related regulations abroad. In a centralized structure, the home-country headquarters makes the decisions, which can save costs and bring consistency to marketing campaigns. Bulgari, Salvatore Ferragamo, and Gucci earn a quarter of their global revenue in this market alone. Decisions regarding the product, price, promotion and distribution channels are decisions on the elements of the "marketing mix". Global Marketing reflects current issues and events while offering conceptual and analytical tools that will help students apply the 4Ps to global marketing.. MyMarketingLab for Global Marketing is a total learning package. Understand the advantages and disadvantages of global branding. Global marketing relies on firms that understands the requirements associated with servicing customers locally with global standard solutions or products and localizes that product as to maintain an optimal balance of cost, efficiency, customization and localization in a control-customization continuum to meet local, national and global requirements. The Truth You Have to Know about Marketing in Micro Era, How to Do Marketing in the New Era of China Mobile Advertisement, Microblog E-commerce VS WeChat E-commerce, How would you start marketing in 2016? Giant corporations have always had their hands in global marketing through having operations, representatives, and … Translate your web content. But how low can a company go on quality and performance without damaging the company’s brand? All this has led to the birth and growth of international marketing. Another decision concerns whether to pursue a single global-brand strategy or a multiple-brand strategy. But, if we outline a global strategy combined from all different local marketing strategies, it will make a great global marketing strategy. In Europe, however, Acer uses the Packard Bell brand. Ctrip+eLong, Dominating China Online Travel Market, The Tendency of China Mobile Payment Market, Five New Strategies for Online Mobile Marketing in China, Recruitment for the World Tourism Exchange Haikou 2019 (WTE) in Full Swing at AGC 2019, Get away from the Cold Winter Rain and Embrace the Warm Sun in Haikou. Most business is done in English. Key Takeaways One of the key decisions that must be made when marketing internationally is how to set up the structure of the... Another decision concerns whether to pursue a single global-brand strategy or a multiple-brand strategy. Walmart’s flooring, lighting, and air conditioning make its Mexican stores better than any other local stores even if they might seem Spartan to US consumers. But, if you want customers to learn who you are, you should first make your website available in multiple languages, such as languages of those key markets. “Trust is what drives profit margin and share price,” says Larry Light, CEO of Arcature brand consultancy and a veteran of McDonald’s and BBDO Worldwide and Bates Worldwide advertising agencies. McKinsey Global Institute. (1), Ten Trends You Must Know about China New Media Marketing, A Guidance May Help Your Enterprise Do WeChat Marketing and Operation in China, Knowing Customer’s Psychology Helps You Do Good in WeChat Marketing. This question is for testing whether or not you are a human visitor and to prevent automated spam submissions. It would be very easy to discuss the global marketing decision as a case of deciding whether to export or standardise or adapt your product/market offering. Companies that are promoting their global brands successfully on the web include Google, Philips, Skype, Ericsson, Hewlett-Packard, and Cisco Systems. Global Marketing Decisions Aims of the module To prepare you to undertake a strategic audit of a global organisation and assess its capability and capacity to deliver across a range of business and marketing strategies before making recommendations, based upon a … Discuss the advantages of a multibrand strategy. Marketing mix decisions- 4Ps (product, price, place and promotion): Marketing mix decisions are considered as the most important decision making for marketing managers. When might a company prefer to make decentralized-marketing decisions? As Acer’s chief marketing officer, Gianpiero Morbello, says, “It’s difficult to get a retailer to place 50 percent of his space with one brand. Identify your target audience. It’s all about reputation. Global marketing strategies are actually important parts of a global strategy. The challenge is to balance maintaining a global reputation for quality while serving local markets at lower cost points. 5. Social media marketing and email marketing can tell you a lot about the best places to implement your global marketing. The Five Key Decision Makers in the Sales Process. Once you’ve pinned down a few locations, you have to decide whether or not you want to take the leap there. As the economic, political, cultural and sociological aspects differ from place to place, you cannot expect one single plan to be effective globally. is the brand name of a product that has worldwide recognition. They have created websites in local languages and are using images and content specific to each country. Adapted Marketing Mix: – Producer adjusts the marketing mix elements to each target market, bearing more costs but hoping for a larger market share and return. In addition to decisions related to the product, marketing has to decide on elements of the delivery and how to inform the target market of the buying opportunity. It’s easier to split that same space with three brands.”Bruce Einhorn and Tim Culpan, “With Dell in the Dust, Acer Chases HP,” BusinessWeek, March 8, 2010, 58–59. Acer’s eMachines brand is for the lower-end consumer who is most focused on price, whereas the Acer brand is reserved for the highest-quality products aimed at technophiles. You have to make sure your goals are smart and check frequently to see if your strategy is effective. Customers want the best possible product with the best value proposition from the brand with the most expertise. v What are the key decisions in global marketing Note Answer any two questions from MBA 101 at Jaipur National University These three factors will trump local loyalty and transfer the customer to your business. Who has the authority to make marketing decisions? This multibrand strategy also helps Acer’s distribution. A good marketing program allows students to build a significant knowledge base and highly developed skill set in communications and management — key skills in the global marketplace. Believe it or not, global marketing reduces your competition. Hence you will need to get familiar with regulations abroad ahead of doing business there. A global brand is the brand name of a product that has worldwide recognition, such as Coca-Cola or IBM. How to Make Marketing Better in China-Precision Is Very Important! If you’re a luxury or aspirational brand marketing to Japanese consumers, don’t be concerned about your price point. The brand name of a product that has worldwide recognition. World include Coca-Cola, IBM, GE, and key decision in global marketing ’ s brand, however, Acer uses the Bell! World to many people, and McDonald ’ s transfer the customer to business. 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