Executive summary about global marketing Fast globalization has been accompanied by the growth of internet and email. Every company around the globe must keep up with the ever-growing competition to venture new markets. Companies must initiate appropriate global strategies to win this survival race. They should include the available foreign markets with very splendid opportunities for launching new products, but should also consider that this comes with risks. Global executive marketing should be thoroughly and extensively adapted.
The first step is, for the executive at the headquarters, to choose and set up targets. These are followed by explaining the reasons for venturing to employees, and selecting an executive officer for the foreign market. This foreign executive officer controls the risk such as economic and political disruptions, language and communication, difference in culture and religion and the business culture (Gillespie et al. 47). Under this extended network of the global economy, the need to have a permanent store or plant and offices is not requisite. This is because the marketing executive at the foreign location can actively engage the locals through the websites. Those executives at the headquarters may also choose to build a global business portfolio, which implements efficient global strategies. Therefore, strategic global marketing must consider all the risks, solutions and any other available alternatives. Strategic global marketing needs to take into account of the whole company group’s, environmental piles and resident people’s contentment (Gillespie et al. 75).
Globalization, in some aspects, is described as a myth because most business activities, by large companies, take place in regional blocks (Gillespie et al. 38). The rival multinational enterprises from the regional blocs compete, for regional market shares, to consolidate their economic efficiency. These results to the top executives being compelled to design regional based strategic plans and not only the global plans. Marketing strategies should be regional in scope and not global or uniform to be responsive to local consumers. Global trade also depends on the statutes and provisions of the World Trade Organization. The executive both at the headquarters and the foreign market should make appropriate considerations and obtain certification from the world trade organization (Gillespie et al. 27). Another international organization that can be consulted for grants is the World Bank. These can offer loans and grants for the business expansion to foreign markets.
Distribution is another key aspect that a company must focus on since effective global marketing of products at the headquarter executive selects the foreign market executives whose key roles include directing all international distribution of the firm’s or company’s products (Gillespie et al. 103). The foreign executives also operate directing the logistics. The blog assignment of the company is adapting global marketing through a high quality services and customer satisfaction. Customer care is an integral part of survival of the firm, and it gets feedback from every customer in a global setting.
In summary, executive international marketing relates to the export, franchising, joint undertaking or full straight entrance of a marketing association into a new country. This can be done by exporting a companys manufactured merchandise into another locality, and accessing through a joint venture with another organization in the target state, or overseas express investment hooked on the target country.
Woks cited
Gillespie, Kate, and Hubert D. Hennessey. Global Marketing. Australia: Southwestern Cengage Learning, 2011. Print
