Global marketing strategy

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Globalmarketingstrategy refersto companiesfromtheperspectiveoftheworldtoinvestigateall production , distribution andothermarketingactivities,accordingtotheprincipleofoptimization,theorganizationofdiff...

What is a global marketing strategy

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Global marketing strategy refers to companies from the perspective of the world to investigate all production , distribution and other marketing activities, according to the principle of optimization, the organization of different enterprises in different countries to meet the market with the lowest cost and optimized marketing plan demand. Its purpose is to emphasize international comparison of marketing. The global marketing strategy has broken through the concept of national borders, considering the development of the company's marketing strategy from the world market scope, in order to obtain the comprehensive competitive advantage of the enterprise.

Integrated marketing strategy

The connotation of global marketing strategy

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The views on the discussion of the connotation of global marketing strategy can be summarized into the following three types:

1. Standardization perspective

Regarding the nature and content of global marketing strategies different from general multi-national marketing , the earliest and most influential point of view is the standard point of view. Livett clearly stated that the global marketing strategy is to produce standardized products ; Jain believes that when a company uses the same marketing plan in different countries , that is, to standardize the marketing process, the company is also implementing a global marketing strategy. This view is reflected in a large number of books on standardization and adaptive topics. Levitt 's standardized strategy is an iconic theory of global marketing strategy, and therefore also forms an important part of global strategy . The standardization point of view is that the huge progress in communication and transportation has made the world a homogeneous trend , and consumers in different countries in the world show the same preferences and demand tendencies for the same products. Therefore, the production of a large number of high-quality and low-cost products has become the main source of competitive advantage in the global market. Specifically, the marketing elements that MNCs implement in their standardization strategies are not the same. They can either produce standardized products or standardize on factors such as price , promotion , and channel structure . They can also use management procedures such as marketing plans. Implementation of global uniform standards. Proponents of the standardization perspective also summarized several advantages of standardization, including the scale effect of production and marketing, Deal with consistency in customer relationships, and discover new ideas globally . Although the standardization strategy may bring great competitive advantages to multinational enterprises , the implementation of the standardization strategy should not be carried out blindly. In general, global industry multinational necessary and feasible implementation of standardization strategy, but also need to further weigh effective way such a strategy, such as taking some elements of standardization of the marketing mix, as well as through short-term within a large number of Capital penetration in the market has a predominantly dominant competitive advantage in standardized operations.

 

2. Configuration-coordination perspective

The configuration of various activities in the corporate value chain and the coordination of cross-market activities are the second important point of global marketing strategy. As an important decision at the strategic level of a multinational company, a global marketing strategy must configure and integrate various specific activities in the value chain such as procurement , production, and research and development on a global basis based on comparative advantages , and through scale effects, scope economies, and knowledge accumulation in The markets of each host country entered gain synergies. The global marketing strategy is to strengthen the value-added activities, explore the differences in factor costs, and coordinate the activities of various markets to build a sustainable competitive advantage for global companies. An important manifestation of the configuration and coordination of various activities of multinational companies in the industrial chain is how to strengthen the concentration of these activities. Concentrating on an activity of the value chain in some countries with a single comparative advantage can achieve relatively higher efficiency . Concentrating the activities of the value chain by selecting the countries and regions with the highest comparative advantages respectively can make the global company as a whole Get relatively high operating efficiency. For example, product R & D activities can be concentrated in a few countries with world advanced technology levels, while labor-intensive manufacturing activities can be concentrated in countries with low labor costs. The successful implementation of a global marketing strategy requires following an appropriate operational route. In order to finally gain the leading position in the global market, multinational companies can first obtain high market share and strong competitive position in the world's richest and most growth markets . For example, multinational companies can choose three important markets in Europe, Japan and the United States to establish a competitive positioningTo lay the foundation for a global competitive advantage, and global brands will help strengthen that competitive position. At the same time, global strategy not only requires competitive positioning in important markets, but also emphasizes that companies must maintain strategic flexibility to adapt to changes in international market demand, resources and competition , and to benefit from fluctuations in financial and information markets and economic imbalances Profit. All these require multinational companies to make space allocation and effective management of resources , and develop an organizational structure that can quickly transmit information , in order to strengthen the organization's flexibility and response speed.

3.Integrated perspective

With the deepening of research in the field of global marketing, people realize that standardization and adaptability may have their own merits, and they may have one-sidedness when viewed in isolation. Therefore, various perspectives are integrated and integrated to form a This integration perspective focuses on how global strategies for multinational companies should be deployed and implemented across national markets. According to this view, the key to the success of a global marketing strategy is to enter all the major markets in the world at the same time to gain competitiveness, and to effectively integrate competitive activities in these markets. For multinational companies in some global industries, the operations of various countries are interconnected, and companies need to use resources obtained in the markets of some countries to support market activities in other countries. At the same time, when a multinational company faces a frontal attack from a competitor, it can take a counterattack in another market to contain the competitor. In short, the marketing activities of global companies in all corners of the world must serve the company's overall goals. The choice of each foreign market opportunity is not just based on its own profit potential, but more to consider its achievement in achieving the company's overall goals The role and contribution made in the process. For example, a company may not make money in a foreign market, but a small investment in that market may play a role in stifling its main global competitors. It can be seen that the integration perspective is more emphasized and the essence of global marketing strategy is to transnational The company's competitive actions in all major world markets are integrated.

Characteristics of global marketing strategy

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The global marketing strategy, as a product of the globalization and integration of the world economy, is significantly different from general international marketing. Its main features are as follows:

(1) The global marketing strategy completely broke through the concept of national boundaries, in a sense completely abandoned the concepts of domestic and foreign enterprises, domestic markets and foreign markets, and treated the world market as a unified economic unit.

(2) The global marketing strategy emphasizes the need to measure and measure whether the market is conducive to achieving the overall goal while grasping the market opportunities in a certain country or region And focus more on the market's contribution to the strategic profit potential of achieving global goals.

(3) The global marketing strategy considers selecting market opportunities, formulating marketing plans, and allocating marketing resources worldwide. Its choice is based on the company's long-term goals and long-term interests. For example, General Foods and Nestlé are competitors in the global market .

(4) The global marketing strategy regards the world market as being composed of a few standardized market groups, rather than many different national market styles.

(5) The global marketing strategy emphasizes the international comparison of marketing effectiveness. Through organization , it can optimize the international resource allocation and improve the overall efficiency of the enterprise.

The content of the global marketing strategy

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If an enterprise wants to survive and develop in the fierce competition of the fittest, it must take the global market as its guide and adopt a global marketing strategy. The company's global marketing strategy includes four main aspects: determining global marketing tasks, global market segmentation strategies, competitive positioning, and marketing mix strategies.

(I) Determine global marketing tasks

The central task of global marketing tasks is no longer the individual optimization of specific country-specific marketing activities, but rather more consideration on how the commercial interests of different countries belong to global strategic goals. Since global marketing plays an important role in obtaining a global strategic goal for an enterprise, its global marketing strategy should be compatible with its overall strategy . When determining global marketing tasks, enterprises should look at the selection and entry of the global market from a strategic perspective: focus on the overall optimization of the global market size.

(II) Global market segmentation

In terms of global market segmentation strategies, there are three strategies to choose from. First, the global market segmentation strategy. This strategy focuses on identifying common needs of consumers in different countries , such as demographic indicators, purchasing habits and preferences, without paying attention to national boundaries and cultural differences; second, national market segmentation strategies. This strategy emphasizes the differences in culture and taste between different countries. The market segmentation is mainly based on geographical location and nationality. Third, the hybrid market segmentation strategy. Generally speaking, it is a combination strategy of the first two strategies. Some country markets are large but individual, while other smaller country markets can be combined into a common market segment. For example, the marketing area of the hybrid is an important market segmentation strategy.

(C) choose global competitive positioning

In addition to determining the market segmentation strategy , the company must determine its competitive position in each market. The four main competitive positioning strategies are: market leader , market challenger , market follower, and small market share holder. If the company adopts the same competitive positioning strategy in all foreign markets, it is called a global competitive positioning strategy; conversely, if the company adopts different competitive positioning in different markets, it is called a hybrid competitive positioning strategy.

(IV) Design global marketing mix

According to the company's global market segmentation strategy and competitive positioning strategy, its marketing mix strategy can be formulated. Companies operating in one or several foreign markets must study how much adjustments to the marketing mix are required to adapt to the local market conditions? An extreme case is that the company uses its globally standardized marketing mix , products, advertising , Distribution channels, and other factors of the marketing mix are standardized so that costs can be minimized because no major changes are needed . In another extreme case, a specific marketing mix is ​​formulated, and the production plant adjusts its market share according to the characteristics of each target market, so as to obtain greater compensation . Choice is possible. Global companies take the first approach. Between these two extremes, there are many global competitions that these companies consider successful also require changes in the marketing quality of multinational corporations, that is, the global center replaces the multi-centers and strategies that are popular in international marketing. Based on this, global companies can establish a marketing expansion strategy centered on the global market.

From the above-mentioned global marketing concepts, basic concepts and main contents of marketing strategies , it is not difficult to see that global marketing reflects the repositioning of international marketing and is a new strategy for international marketing . In order to make full use of the international market opportunities closely related to global marketing, companies must conduct a comprehensive analysis of the internal factors and external environment of the company before implementing the global marketing strategy to ensure the realization of the global marketing strategy.

Analysis of the advantages and disadvantages of global marketing strategies

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In the process of implementing a global marketing strategy, the main advantages of multinational companies are:

1. Specific advantages. Mainly refers to the intangible asset advantages of the enterprise, including trademark brands, production technology, product quality , technological content, management skills, etc.

2. The advantage of internalization , that is , the company's foreign investment is completed by transferring corporate assets to other countries, thereby reducing market costs and operating time.

3.Location advantage . One of the factors that companies consider when choosing an investment location is to combine the above advantages with local factors of production to obtain higher benefits than simply exporting.

However, from the operating performance of multinational companies, there are quite a few companies in distress. Because the difficulties faced by a multinational company in the marketing process in a foreign country are more complicated and arduous than in its home country, it usually has to face the following three disadvantages:

1. Guest disadvantage. If you are unfamiliar with the host country ’s social, political, cultural , language, legal, human resources and other national conditions, you need to take the time to understand and adapt as if the guest is new to a new place.

2. Market disadvantage. Although the company will conduct a feasibility study on the market conditions of the host country before investing, it still needs a certain amount of time and capital investment to really open up the market.

3.Cross-cultural disadvantage. Different social cultures have different views on time, values , work goals, and management styles . When referring to foreign cultures, the characteristics of national cultures are more prominent, and people also emphasize and maintain their national cultures. For example, an American businessman has been ordering hand-knitted goods on a Pacific island. Because of the good sales, he offered to order in large quantities and thought that the unit price would be cheaper. However, the local indigenous people told him, "If so, the price of each item will be more expensive than before." He was very puzzled. Asking the reason, the residents replied, "How boring it is to do the same thing for a long time!" Americans who grew up in the value orientation of money almighty , it is difficult to understand the idea of ​​islanders who emphasize the joy of work.

Choice of global marketing strategy

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Global marketing is different from international marketing. Organizations engaged in international marketing generally apply their publicity and advertising programs in their countries directly to foreign countries, while global marketing has achieved the full use of the company's assets , experience, and products, and has achieved universal characteristics and national The combination of their respective characteristics does not duplicate their publicity and advertising programs in the country.

Companies and enterprises generally prefer to engage in domestic marketing activities only, because engaging in global marketing will make decision-makers face a whole new challenge. Political, economic, social, cultural, and legal differences will make marketing activities difficult. However, even if a company or an enterprise is very successful in the domestic market and occupies most of the market share, it can only support the survival of the company and the enterprise, not to mention development. Development can be truly invincible.

The development of global marketing is generally driven by the following factors: meeting market demand, better achieving profit goals, based on the challenges of foreign competitors, differences in product life cycles , and avoiding market risks.

First, meet market demand

The primary driving force of global marketing activities is to meet the needs of global market segments and achieve economies of scale. People's consumption preferences , cultural tendencies, and value orientations are different in countries around the world , which will inevitably lead to different consumption habits . However, there is a universal element in human nature and psychology. The Internet, transportation, communication , satellite radio and television systems and other technologies bring frequent international cultural exchanges, which has increased the common ground between cultures of various countries. Consumption preferences tend to be the same, which has led to the need for more market segments to transcend national borders and become global market segment demands. Global marketing has emerged as the times require. Through global marketing activities, new markets can be developed and the customer base can be expanded, which in turn brings realistic opportunities for large-scale operations. Many of the world's best-known large companies have adopted this strategy. After recognizing the needs of global market segments, they take appropriate marketing actions to open up the market. The Coca-Cola Company is a model of successful use of global marketing methods, becoming the largest and most successful soft drink company in the world today. Coca-Cola's products are not necessary for anyone, but because of the company's marketing actions, the per capita consumption of soft drinks in some countries today exceeds the demand for water.

Second, better achieve profit goals

Another important driving force for companies to carry out global marketing activities is to better achieve profit goals. First, using global marketing methods can reduce costs , expand market capacity, and achieve profit goals. Because of the great risks and huge costs of new product development in general , it is difficult to get compensation in the market of a single country, which forces companies to find markets worldwide. Especially for some highly standardized products, on the one hand, they have a large investment, and on the other hand, they do not need to make large adjustments to their functions and characteristics when entering mature markets in other countries, so the potential for the use of such products is great. The pharmaceutical industry is a typical example. It takes 6 to 10 years and about 50 million to 100 million US dollars to develop a new drug in the United States. Such large costs and risks can only be compensated in the global market. Secondly, the use of global marketing methods can increase output, thereby producing greater operating income and profits to support the quality of design and manufacturing . Better product quality is more conducive to seizing market share and gaining market recognition, which in turn promotes product sales . Global companies may thus receive double or triple the total operating income of non-global companies.

Challenges based on foreign competitors

Global marketing campaigns are sometimes forced by challenges from foreign competitors. When a company finds that its domestic market has intensified competition due to the entry of foreign competitors and its market share has shrunk, in response, the company may have to enter the home market of a foreign company to compete abroad and occupy the market share of its opponent ’s home country. , To obtain valuable information about competitors to enhance the company's competitiveness in the domestic market, and at the same time to fight against competitors by sharing the resources of foreign competitors in the home market. This passive global marketing strategy is common in the world commercial war . For example, an important factor for Xeron's entry into the Japanese market was to learn how to deal with competitors in the home market of its competitors.

Differences in product life cycle

In different countries, the maturity level of the same product on the market is different. In this way, companies that have matured their products in the domestic market can take these products to other markets for sale, as long as the market in other countries should Before the product reaches maturity, the product may rejuvenate and prolong its life cycle. Generally, these products have low awareness and usage in these countries. International market on a number of production and markets consumer products companies often use this strategy, such as PepsiCo , Philip Morse, Coca-Cola is to use the expert strategy. After the domestic market life cycle of their products reached maturity, these companies immediately turned their eyes to foreign countries and regions with low awareness and use of the product.

The decision makers of these companies believe that with the increase in per capita income caused by the economic development of these countries and regions, consumers in these countries and regions will gradually increase the frequency and consumption of their products , thereby bringing them lasting Growth opportunities. The Coca-Cola Company is now accelerating its penetration into the European and Chinese markets, precisely because its products are far from mature in these two markets. In Europe, the per capita consumption of soft drinks is only 3% of that in the United States, while China's per capita consumption of soft drinks is much lower than in Europe, which implies that China's soft drink market has greater potential.

V. Avoiding market risks

The adoption of global marketing strategies is also driven by the avoidance of market risks. Just as it is impossible to put all eggs in one basket, a company cannot completely rely on a single country or a single market to carry out business activities. Once such a single market appears turbulent or unstable, it will bring about the company's operation. Terrible impact and business risk . Since the outbreak of the Asian financial crisis , the market turmoil in Indonesia, Malaysia and other countries has caused a large number of bankruptcies and failures of companies and enterprises with their own markets as the only market, with heavy losses.

This problem does not occur with global marketing strategies. When cross-border, cross-region, and cross-market marketing strategies cause problems in a certain market, it does not pose a major threat to the company's survival. Another reason for adopting a global marketing strategy is to seek market opportunities. Different countries have different levels of economic development and different economic growth rates . In a country with a low growth rate, companies or enterprises will face fierce competition and weak markets, which is obviously not good for the survival of the company or enterprise. In this way, it will inevitably pay attention to those countries and regions with rapid economic growth, carry out production and operation activities in these places, and seek new opportunities. China's rapid economic growth in recent years has attracted the entry of a large number of foreign companies. According to reports, the profitability of these foreign companies in China is 2-3 times that of their own country. Therefore, the internal drive to find more and better market opportunities will promote companies or companies to implement global marketing strategies.

At the same time, an enterprise intending to enter other countries' markets will inevitably face a series of uncertainties and risk factors . For example, a company may incur unforeseen expenses due to its lack of understanding of foreign laws and regulations ; it may bring unexpected troubles to its own production and operation because it does not understand foreign business culture or the know-how to effectively communicate with the government; It may be difficult to provide competitive and attractive products to the target market due to the inability to understand consumer preferences ; in addition , the existence of non-tariff barriers makes it difficult for companies to enter other markets, and the state monopoly of certain industries makes the entry of this industry extremely great risk.

Implementation and control of global marketing strategy

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Global marketing strategy portfolio

(A) global product (global products)

Unlike ordinary domestic operators, global operators need to consider not only the appearance, function, and cost of products when designing and producing global products, but also the culture of different markets and countries. Legal requirements. When products deviate from local cultural traditions, values, customs and habits, foreign companies and foreign products must be opposed.

Choosing standardized or localized products in global marketing has been a controversial issue. Obviously, standardized products can reduce the production cost of products , help companies gain economies of scale , and help customers around the world . However, its design lacks uniqueness and pertinence, and it is definitely not to make it successfully accept the challenges of local competitors Easy, not to mention, global unified standardized products also face trade barriers from different countries and regional organizations . Therefore, many people look at this issue from the perspective of cultural differences. They believe that only the production of different products can adapt to the unique cultural traditions and folk customs of a market.

These two statements represent two aspects of a problem. In fact, it is difficult for us to really find out what is a completely unified standardized product. Therefore, the appropriate attitude is to standardize as much as possible. When it is really necessary to meet the local special needs, it must be able to adjust flexibly.

(B) global pricing (global pricing)

As another important part of the marketing mix, the factors for how to set a favorable price in global marketing are also much more complicated than in domestic marketing. From the perspective of production costs, pricing must involve tariffs , taxes , intermediaries and transportation costs, as well as inflation and currency fluctuations. From a market perspective, market demand, market competition, and global market prices must also be considered . Of course, pricing is inseparable from government intervention, and dumping is an example. When the sales price of a product in the international market is lower than the price in the domestic market, it may be regarded as "dumping", so that they can quickly expand the foreign market at a lower price. Dumping will harm the normal development of local enterprises, so some countries have adopted anti-dumping laws to protect their own enterprises. The US government imposes import surcharges on the products of companies that have dumped in the US market , so that the prices of imported products are consistent with the prices of domestically produced products.

There are three general directions for global companies to set prices. The first is home country-oriented. Under the guidance of this pricing policy , the prices of enterprises around the world remain the same. This can help companies establish a better image globally. The second is host-oriented, that is, global companies let the price setting be done to the subsidiaries in various markets to complete, and the subsidiaries will adopt different prices according to different market conditions. This pricing method will cause some people to buy products in the low-priced market and then sell to the high-priced market to make a profit. The third is global orientation, neither setting a global unitary price nor fully allowing the behavior of subsidiaries . This is a compromise method, companies will consider the different factors in different markets and develop an overall pricing strategy .

(3) Global placing

Distribution channels, also known as marketing channels , are the paths through which products are transferred from producers to end users. Global marketing channels cross the borders of countries. It refers to the process of transferring products from producers in one country to final consumers in another country or countries. The question includes the corresponding intermediary institutions and facilities.

As a global comp

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词条目录
  1. What is a global marketing strategy
  2. The connotation of global marketing strategy
  3. Characteristics of global marketing strategy
  4. The content of the global marketing strategy
  5. Analysis of the advantages and disadvantages of global marketing strategies
  6. Choice of global marketing strategy
  7. First, meet market demand
  8. Second, better achieve profit goals
  9. Challenges based on foreign competitors
  10. Differences in product life cycle
  11. V. Avoiding market risks
  12. Implementation and control of global marketing strategy
  13. Global marketing strategy portfolio

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