ABOUT GLOBAL MARKETING
Global Marketing refers to the process of adjusting company’s marketing strategy to optimize its position in an appropriate place in any other country. Global Marketing implies that a corporation is standardized with various marketing programs that helps in global integration. There are several companies that have implemented global marketing strategies and this is being characterized by an unpredictable environment. Companies derive several benefits from global marketing strategies so that companies achieve a competitive edge. A global marketer considers the world as a market and designs strategies accordingly.
Globalization has made a way in the business world by influencing the economy. Globalization has affected every part of the present life. The term is broadly utilized as a part of media and business studies. The world is slowly moving towards linking and connecting economics, finance, trading and communication with each other, so as to provide various opportunities. Globalization is impacting the world in a major way. Nations are gradually evolving into more interdependent businesses, communication, cash streams and tourism. It is important for big organizations to comprehend the distinctions in dialect, traditions, customs, so that evaluations are constantly monitored.
Global Marketing deals with marketing on a worldwide scale. It becomes important to understand the sections of finance, through which learners identify and understand the fundamentals of marketing. Global Marketing is an evolutionary process which has moved the entire world For Global Marketing, you are required to have sound knowledge about fundamentals of marketing and its key functions. You should also learn to recognize and identify different types of customers. You need to characterize a target market using specific marketing criteria. You also need to know much about the process of new product development.
Global marketing strategy is a process which allows an organization to concentrate its limited resources on greatest opportunities to increase sales, so as to achieve a sustainable competititive advantage. Global marketing strategy helps in increasing sales of the company through market development, which can be achieved via optimal utilization of resources. Various tools are being used to study this branch such as market segmentation, target market, SWOT analysis Pestll analysis, Porter analysis and others.
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