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Global Marketing
Global marketing is a broad concept that includes all the
processes necessary to sell a product in international markets. It involves the
processes of a company planning, manufacturing, locating, localizing, and
promoting its products in a worldwide market.
Until recently, only large companies were selling in
international markets. With the effective use of the Internet all over the
world, small businesses have now become players in global markets. Many small
and medium-sized companies can reach customers all over the world with
e-export.
Even if any company is not involved in global markets, it
may have to struggle with foreign companies in domestic competition. This
competition has led most businesses to international markets. Global marketing
is a general definition that covers all concepts that arise in this process.
Universal products such as food and automobiles are important in global
marketing. However, with the influence of developing technology, many different
and niche products have entered the global markets. However, many companies
around the world still focus on domestic markets.
The Importance of Global Marketing
Marketing; To analyze the market well, to determine what
consumers want and to hold on to the market with correct pricing. Then the
processes of producing and selling the product come into play. Global marketing
is a part of marketing that includes all these processes. Global marketing is
crucial for companies that produce or sell products and services that have
worldwide demand. For example; Smartphones, automobiles and food products have
universal demand. So, people buy such products in international markets.
Global marketing involves many different products and
opportunities. For this reason, it is impossible to define a single customer
profile. A global company has to develop multiple profiles for each region in
its business in different regions. Depending on the product, it is now possible
to reach customers almost anywhere in the world. For this, global companies
cooperate with local distribution networks. Some companies are able to
establish their own networks as they grow in certain markets. Companies trying
to enter global markets tend to start with densely populated urban centers
first.
An e-export company can reach any target market in the world
through an online store. There are dozens of initiatives, hundreds of
organizations and thousands of tools that support this process. What needs to
be done; is to convince customers in the target market that the product or
service offered is worth purchasing. At this stage, global marketing comes into
play. Thanks to the Internet, cross-border e-commerce has become a part of
global marketing.
Things to Consider in Global Marketing
Global marketing is an area that requires special effort. It
requires processes developed by marketing professionals. Many strategies can be
applied in global marketing. Which strategies will be implemented depends on
the company's goals.
Important points to consider in global marketing are:
• It is not enough for companies that want to enter global
markets to just offer a good product to the market. They need to develop a
marketing strategy that suits the language and culture of the market.
• Marketing strategies implemented by companies in the
domestic market may not be as successful in global markets. For this reason,
market-specific strategies should be developed.
• A different pricing strategy must be applied in global
markets due to differences in local competition.
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• Local technological and logistics infrastructure; It is of
primary importance for factors such as the production of products, and their
inclusion in digital processes and/or delivery.
• In some markets, it is more profitable to use local
facilities or local solution partners for production. In some markets, it may
be less costly to produce the product at the company headquarters and ship it.
• Partnerships with local businesses can be an important
step in expanding into a single market; but in another market such partnerships
could damage the brand.
• Global marketers who want to take professional steps
should consider all aspects of marketing by establishing intercultural
communication.
• A global company must carefully research various markets
and be prepared to make changes to its products, messaging, packaging and
branding as necessary.
• To present a product or brand to global markets, a good
message or slogan must be presented to the consumer. However, not every message
will perform well due to differences in the target market's cultural values or expectations.
• E-exporters who want to be players in global markets
should focus on the language of the market to manage business relationships
with local companies. For example; The website or websites used in the region
should be localized with the support of local stakeholders.
• Marketers should personally visit target markets; One must
live there for a while to know that market well. Local contacts should be
developed during these visits; Research should be done on how business is
carried out in the region. Cultural sensitivities in the region should also be
learned in these studies.
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