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Cost Effective Multinational Mkt

Cost Effective Multinational Mkt

International marketing or global marketing refers to marketing carried out by companies overseas or across national borderlines. This strategy uses an extension of the techniques used in the home country of a firm. It refers to the firm-level marketing practices across the border including market identification and targeting, entry mode selection.

 

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Anastasia Romanova

Anastasia Romanova

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Multinational companies have investment in other countries, but do not have coordinated product offerings in each country. More focused on adapting their products and service to each individual local market.

Article: Difference Between a Glob...
Source: Lee Iwan Accumulated Expe...

The international marketing organization beings by focusing on leveraging a company’s experience and products. As it focuses upon this task , its becomes aware of the differences and unique circumstances in the country, and establishes a new role for itself: adapting the company’s marketing to the unique needs and wants of customers in the country. The multinational marketing organization would develop a unique communications program for its market

Article: Multinational Marketing a...
Source: MARKETING AND GLOBAL RESE...

Most multinational consumer goods companies recognize the global economic shifts over the past several years. At one time, these businesses shipped personal products like shampoo and deodorant – products invented in the United States or Europe – all around the globe.

Manufacturing based those items on consumer preferences in particular countries. But now they take their cues from Chinese consumers… And in some cases, they sell the results in the Western world.

Article: China's Market Share Toug...
Source: Investment U - Investment...

Globalization and its ability to break down barriers and walls, has transformed the world, in many respects into a "global village" and where individuals are "citizens of the world" ([60] Moffatt, 2008). Brands are no longer a local entity but a global reality. Globalization is now analogous to a fundamental doctrine in marketing - namely - the influence and power of a 'brand'. The brand in turn is a global brand- a brand that has worldwide recognition; a brand that represents products and services, which have value for people all around the world.

Article:   Successful Marketing by M…
Source:  Offline Book/Journal

The use of global standardisation, on a tactical level, is of paramount importance as, according to [32] Levitt (1983), the globalisation of markets is (or was) at hand. He argues that global corporations operating with resolute constancy, at low-relative cost, can treat the entire world as a single entity and sell the same things in the same way everywhere.

Article:   International Marketing A…
Source:  Offline Book/Journal

Within the field of international marketing, when a company decides to begin marketing products abroad, a fundamental decision is whether to use a standardised marketing mix (product, price, place, promotion, people, physical evidence, process management, etc.) with a single marketing strategy in all countries, or to adjust the marketing mix to fit the unique dimensions of each potentially unique local market.

Article:   Internationa Marketing Ad…
Source:  Offline Book/Journal

World markets are becoming more and more similar. Therefore standardized marketing strategies are becoming more feasible. Many multinational firms have created world brands-products that are manufactured, packaged , and positioned in exactly the same way regardless of the country in which they are sold.

Article:   Consumer Behaviour
Source:  Offline Book/Journal

The management, planning and control of multinational marketing strategy (MNMS) become especially important to those firms which are oligopolistic in character, have specialized marketing skills and are committed to particular strategies.

Article:   Planning and Control of m…
Source:  Offline Book/Journal

Multinational companies have investment in other countries, but do not have coordinated product offerings in each country. More focused on adapting their products and service to each individual local market.

Article: Difference Between a Glob...
Source: Lee Iwan Accumulated Expe...

The prevailing view of multinational companies (MNCs) is that marketing strategy is a local problem which differs from country to country. There are, however, potential benefits in standardizing multinational marketing strategy. Significant cost savings, consistency in dealing with customers, improved planning and control, and the exploitation of good ideas represent potential gains with an integrated approach to marketing strategy.

Article: Can YouStandardize Multin...
Source: Harvard Business Review C...
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