decisions about the marketing mix

• what is the definition of global marketing ?

  Global marketing is the process of placing a product in a worldwide market place
• what does global marketing involve ?

  • Market planning
  • Manufacturing to met demand
  • Changing the marketing mix as appropriate

  Product – does it need to change to meet the tastes and expectations

  of consumers in different countries?

  Price – need to consider the competition in each market

  Place – what are the normal channels of distribution e.g. do consumers

  shop online?

  Promotion – ensuring it appeals to different cultures, does not offend,

  recognises traditions
• what can correct global marketing lead to ?

  If done correctly can lead to a business succeeding in a global marketplace, building a global brand
• what is the defintion of a global brand ?

  Global brands are when a unique feature of a good or service e.g. name and logo are recognised on a world wide scale
• what can businesses with a global brand benefit from ?

  Businesses with a global brand benefit from economies of scale in global marketing, packaging and recognition
• definition of glocalisation

  When an international business modifies some of its offerings in order to accommodate local consumer tastes or preferences
• political differences in overseas market ?

  change in government, instability
• cultures differences in overseas market ?

  language, inappropriate names, colours, payments to government officials, bribes, greetings.
• legislative differences in overseas market ?

  • E.g. Product labelling
  • E.g. Product safety
  • Environmental impact
  • Advertising – cigarettes banned in Europe
• social differences in overseas market ?

  attitude/role of women, religious attitudes, habits
• differences in business practice in overseas market ?

  payment methods, accounting procedures, distribution methods
• WHY BUSINESSES MAY NOT NEED TO ADAPT THEIR MARKETING MIX IN

  DIFFERENT GEOGRAPHICAL CONTEXTS: product

  Product: Businesses selling inelastic necessities with similar global tastes are less likely to change their marketing mix to different contexts. For example, petrol and commodity selling companies compared to markets such as food where tastes in different areas are completely different.
• WHY BUSINESSES MAY NOT NEED TO ADAPT THEIR MARKETING MIX IN

  DIFFERENT GEOGRAPHICAL CONTEXTS: type of market

  Some markets are completely different to others. For example, the food industry has completely different tastes across all markets compared to the car industry which has smaller differences globally. In China car colour is important but food tastes are completely different and so the marketing mix will differ more in the food industry.
• WHY BUSINESSES MAY NOT NEED TO ADAPT THEIR MARKETING MIX IN

  DIFFERENT GEOGRAPHICAL CONTEXTS: prices

  Businesses selling inelastic goods/services success will be less concerned about changes in prices in different markets as these goods are less price sensitive.
• WHY BUSINESSES MAY NOT NEED TO ADAPT THEIR MARKETING MIX IN

  DIFFERENT GEOGRAPHICAL CONTEXTS: places

  Selling online may require less adaptation that having physical stores in different geographical markets providing the current location has the capacity to meet changes in demand.
• WHY BUSINESSES MAY NOT NEED TO ADAPT THEIR MARKETING MIX IN

  DIFFERENT GEOGRAPHICAL CONTEXTS: promotions

  The levels of promotions depend on the current brand loyalty, number of competitors and changes in the target customers wants in the new geographical market. Language barriers may not exist and customer tastes may not be too different depending on which countries the business

  is expanding to and so the actual promotional methods already used may need little alterations.