Global marketing involves marketing in domestic country as well as marketing across political frontiers. Therefore, the marketing management functions and processes are almost the same in Global marketing as in domestic marketing and are the marketing mix variables.
What differentiates international marketing from domestic marketing is the difference and diversity of marketing environments, i.e., cultural, political, economic and competitive environments as they obtain in different countries and companies have to device their marketing strategies and decide on marketing mix elements keeping in view the macro and task environments as they prevail in each concerned country and make necessary adaptations or adjustments so as to achieve their marketing objectives.
A large number of multinational companies (MNCs) throughout the world, have devised and developed standardized marketing strategies including the very products they produce and market, and conduct uniform advertising programs in markets all over the world. In other words, a large number of MNCs are engaged now-a-days in what is called ‘global marketing’ the examples are Proctor and Gamble (P& G), Unilever (Hindustan lever), Philips, Pepsi, Coca cola, Suzuki, Panasonic National and a host of others.
Most of MNCs manufacturing and marketing similar products or product lines are commercial rivals and pose considerable competitive challenge. Many of them have built a global image or reputation that places them in much more advantageous position in respect to domestic or host country competitors. We can define global marketing in the following way:
Global marketing means using a standardized marketing strategy and uniform marketing programs of product development, production, advertising, distribution etc., in worldwide markets to achieve marketing objectives.
Obviously, internationalization of marketing operations has led to the development of global industries. Michael E. Porter has defined global industry as “an industry in which the strategic positions of competitors in major geographic or notional markets are fundamentally affected by their overall global positions” Doubtlessly; they have great bearing on the fortunes of domestic firms in such industries.
Learn more about the Global/ International marketing only at the University Canada West.
