Global marketing is described by the Merriam Webster’s Dictionary as “the process of promoting and merchandising manufactured merchandise over a global market”. It really is used to involve the promoting practice by which products are created and advertised in different markets for different causes. For example a fresh toothpaste brand is offered for sale in the US because it has better taste and is definitely preferred with a large percentage of the number. The advertising practice afterward focuses on attaining market share to accomplish financial goals. Therefore there is absolutely no necessity to market toothpaste inside the developing countries because during that country there exists a huge demand for it. The main reason for this is that toothpaste will not be of any use to them and the only goal is to get cavities filled and save money.
Global marketing can be defined as the integration or perhaps harmonizing of domestic and global advertising practices to obtain financial goals. This practice has become required for understand the competitive advantages of virtually any business in the current global market. The concept of global marketing is definitely not new; however with the passage of their time it has become essential. With the creation of globalization, the companies own begun to market their products in all the main markets across the globe including Asia, Europe and Latin America.
The global marketing plans help to gain a competitive advantage over the competitors. By way of example marketing in Asia will help the companies to reduce their fixed costs like cost to do business cost and labour cost. They also focus on marketing goods in various global marketplace segments on the market like high progress markets, lesser middle school, students and so forth. By doing so they will attract a large number of buyers out of these segments which will result in growth in their business. This can be one of the major reasons for global market research for the betterment of the business.
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