By Charles Eshun (MBA)
Executive Summary: The purpose of this report is to outline a global marketing strategy for a company. This report explains the objectives for a global marketing strategy and the way in which it should be implemented for the best results. It is important to understand that global marketing requires that the organization attends to the needs of the local culture of the countries in which the marketing campaign is being carried out.
The company cannot just assume that the marketing plans that are in place in the company’s home country will work in other countries. In fact, using the same marketing strategy in other countries as is used in the company’s home country does not create any differentiation of products, and does not make the products from the company seem any more important to people in other nations.
This report also outlines some of the ways in which entering and marketing the product to other nations can take place. One of the important ideas is that the company, even with its own marketing department and product history, will be a new company as far as the local markets of foreign countries is concerned. Because of this, the best means for implementing a global marketing strategy is to actually work with existing companies and distribution channels in the markets in which the company plans to enter. This not only adds credibility for the organization in the minds of local markets, but it also prevents the company from having to start from the scratch with the job of creating local distribution networks.
The key to this global marketing strategy is for the company and its products to become an integrated part of the local culture of the countries in which it is expanding. The company must make the transition from a business standpoint and a cultural standpoint as smoothly as possible. The company must standout from the competition in the new foreign markets. However, the way to do that is by actually becoming part of the local culture. This will make the product seem localized and meant to be used by the people in the new markets.
Otherwise, the company and its products have no way of differentiating itself from other companies and only appear to be a foreign company trying to sell foreign ideas and products to people who may not exactly want them.
Course Number and Name: 2320 Global Marketing Management
Program and Major: MBA/Global Management
Submission Date: July 30, 2007
Reasons for taking the course: I am taking this course to have knowledge in global marketing and to develop skills to manage a company’s marketing activities in the global economy.
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