What is Global Marketing?

Updated: January 09, 2023
Global marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. It is a process of managing product, pricing, communication, and distribution decisions designed to create global customer satisfaction and loyalty.
Detailed answer:

Global Marketing Management is a term used for marketing across national borders. It is a process that must be designed for each country or culture individually. Global marketing strategy involves understanding local cultures in order to tailor the marketing mix (the 4 P’s: product, place, price and promotion) to each market. The global marketing strategy is then implemented through a combination of local and international advertising campaigns that are tailored to meet local needs. Those needs may be different from one country to another.

Globalization has made it essential for companies to think globally but act locally when conducting business with customers around the world. Globalization refers to the increasing integration of economies across countries, regions or continents over time. This integration results in increased trade between countries as well as increased investment flows between countries which makes it easier for companies to do business globally but still maintain a presence locally.

Global marketing can be used by business owners who want to expand their business beyond their local community or country. Also, it helps companies to identify their target customers on a global scale rather than just focusing on one country at a time. In order to remain competitive in today’s environment, it is necessary for companies to have a global approach toward their business activities.

What is Global Marketing?. (2023, Jan 09). Retrieved from https://graduateway.com/qa/what-is-global-marketing/