A large part of this reluctance of Western brands is that consumers in some regions, although enjoying a rise in their standard of living, are still poor when compared to the developed world. Global companies should realize that the world really has not converged in the manner it is being talked about and there are significant differences among markets which require tailored marketing approaches in each of the markets.
This has been utilised effectively by marketers as it has transferred the discourse of marketing labour onto the consumer. The importance of non verbal communication through the marketing of advertisements should not be underestimated.
Global initiatives are launched with lot of fanfare and the top management is very enthusiastic in the initial period. In a response to this, marketers have had to communicate their products by establishing brand values. For example, the development of intranets has allowed marketers to share their marketing knowledge online, across geographical borders.
The car had been well received in its domestic market, yet sales in Mexico were extremely poor.
In countries that employ conservative values, such as where Islam is the national religion, products must be marketed to conform to these political or religious views.
The internet has made it even more crucial that products are marketed and branded as being more beneficial or unique than competitor alternatives. The coordinating group is normally based either in the headquarters or in a lead market. The company should have a coordinating group to look after the global marketing programme.
When marketing globally, the importance of branded websites showcasing products is also of vital importance. They also have higher levels of price awareness and price sensitivity. However, in consuming countries the trend reflects towards an increase in sales and profits.
Marketers have had to adapt and respond to changing market conditions, striving to achieve global efficiency whilst also remaining responsive to local markets. In response to the way people perceiving marketing, marketers have also had to adapt different strategies for different regions.
The sales of coffee around the globe depends upon the disposable income and economic condition of a country. This is a fatal mistake. Marketing strategies and tactics that may have worked in the home market may not evoke positive response among customers in other markets.
This mishap with language translation was exemplified by the American car manufacturer Chevrolet when they launched the Chevrolet Nova into the Mexican market.
The stress therefore is on the importance of visual stimuli. Organisations have reacted to this by attempting to find the balance between tailoring product specifications and aesthetics to consumers, whilst still being able to mass produce these items. However the success of global marketing requires the tailoring of product marketing to suit the demographic habits and cultures of these regions, as well as combating socioeconomic and political factors.
The challenge for marketers however, is in promoting the customisation facilities of these products. Opportunities Until recently, the demand for specialty coffee has increased in both the developed nations and the emerging markets.
Core Competencies The core competency of the company lies in offering quality coffee for the end consumers, which ultimately results in repeat purchases and influences consumers to become loyal to the company.
The solution has come about with the development of interactive websites. Take language for example, Spanish, spoken by around million people worldwide is used in product marketing on a global scale. Yet, marketing to consumers whose values have changed as the decade has progressed is also no easy feat.
A larger challenge is posed for marketing products that lack the benefit of being part of a well known brand. However, marketers have attempted to combat this problem by utilising advances in telecommunications.Organic Foods Essay.
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Global companies should realize that the world really has not converged in the manner it is being talked about and there are significant differences among markets which require tailored marketing approaches in each of the.Download