Global Marketing Strategy
Global marketing encompasses worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives. A global marketing strategy hence requires an approach that extends over traditional PPPP marketing considerations.
This is a list of things to keep in mind when preparing a global marketing strategy:
- Differences in consumer needs, wants, and usage patterns for products
- Differences in consumer response to marketing mix elements
- Differences in brand and product development and the competitive environment
- Differences in the legal environment, some of which may conflict with those of the home market
- Differences in the institutions available, some of which may call for the creation of entirely new ones (e.g. infrastructure)
- Differences in administrative procedures
- Differences in product placement.
- Differences in the administrative procedures and product placement can occur