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Global Marketing Essay

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Essay on Global Marketing programme!

Formal research, flexible marketing mix, regular monitoring and local initiative are required to make a global marketing programme successful.

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It is tempting to pursue global marketing. A company has a blockbuster brand in its domestic market and it feels it can sell the brand in the global market too. But global marketing has its own complexities and perils and a company should proceed very carefully with its global marketing programme.

The company should carry out a formal research in the markets that it wants to enter. Marketing strategies and tactics that may have worked in the home market may not evoke positive response among customers in other markets.

A company found out that while its sales promotion schemes were very successful in penetrating its home markets, the same schemes were not effective in many foreign markets. Global companies should realize that the world really has not converged in the manner it is being talked about and there are significant differences among markets which require tailored marketing approaches in each of the markets. One market’s experience is not transferable to others.

Too much standardization almost always results in failure. Standardization of marketing programme should never be total. It is important that headquarters listens to the opinions of subsidiaries and allows them to tailor the marketing mix according to the requirements of their markets.

For instance, even if the company decides to have the same advertising message for all its markets, it can allow the local subsidiaries to frame the message in words that are relevant in their markets and to feature local celebrities. A good global marketing programme will have standardization of a few elements in the marketing mix, while the rest is flexible.

Global initiatives are launched with lot of fanfare and the top management is very enthusiastic in the initial period. But eventually the executives get busy in other initiatives and the foreign subsidiaries are left alone to fend for themselves. This is a fatal mistake. The top executives should ensure continuity of attention. They should take steps to monitor progress and solve problems as they come along. A long and sustained effort is required to make globalization a success.

The company should have a coordinating group to look after the global marketing programme. The coordinating group is normally based either in the headquarters or in a lead market. In the former arrangement, the headquarters is removed from the actual market conditions and in the later arrangement, global perspective and information to co-ordinate global operations are missing.

In effect, in each of the arrangements only a single perspective is represented. There is no continuous input from local markets, no forum for debating alternative courses of action, and no sharing of solutions to common problems.

The best way is to have a decision-making body that includes executives from headquarters and a number of large subsidiaries. The structure helps to speed up the harmonization of marketing practices in global market.

A company can become very rigid in implementing a standardized marketing programme. It ignores local subsidiaries reservations about implementing some parts of the standardized marketing programme. Most of the local subsidiaries are forced to comply but such forced compliance of standardized marketing programmes is rarely successful.

Most of the time local management s reservations are based on a sound understanding of its domestic market. For rapid implementation of global marketing programmes it is important that the headquarters and the subsidiaries are able to reconcile their genuine differences. Headquarters should realize that international conformity to global standards may have to be sacrificed to take care of market idiosyncrasies and the subsidiaries should realize that a global marketing programme has no relevance if each market was to have its own independent marketing mix.


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