For a global/foreign market you could have a few approaches:
Consider your market - Can they afford it? Do they want it? Do they need it?
(2) one important thing that we need to trake care of when we are marketing our product in the international market is the detailed redisign of your 4 PS in accordance with the global market.
As we know from the contributions of G. Hofstede, the cultures of world differ on broadly defined five (5) dimensions
1. individualism and collectivism.
2. power distance.
3. masculinity and Feminity.
4. uncertainity avoidance.
5. long term orientation and short term orientaion.
During marketing of a product in the global context, we should take into consideration these dimensions to respond positively to the opportunities in the foreign markets. to devise the 4ps we first concentrate on the PRODUCT. the product design should take various things into consideration like for example quality which you are goimg to offer, it should withstand the global competetion of highly sophosticated goods of any public interest. Now a days the packaging and labelling of the products is one of the opportunity as well as threat to the exporting companies. the P&L is threat in the sense that various countries have and are still barring the products from entering their markets on packagging issues(Japan), it is also of the major tangible part of a product which it offers at the very begining of the customer-producer encounter, in this context it is going to be an opportunity for a producer to grab.
PRICE, the pricing policy in the global context is another important thing which needs the maximum care, when we break the global market into fragments based on cultures we often face this situation that some low priced products are reffered as of mediocre quality.
PROMOTION, this part of the marketring starategy is the critical one. the ways and means of the promotion strategy should be acceptable in the global markets. this is a kind of promotion customisation according to the markets of the world. language is one of the important things in the promotion of any brand. some countries often leave certain thing without even noticing because of the language. the product descriptions should be written on the product in the language of the country to which the product is dispatched or produced to suffice the needs. The English language has lost its grip on the minds of people now.
PLACE, the product should be placed at a place in such a situaton that people should feel that this product belongs to them. find out the similiarities in cultures and target them and where dissimilarities arise avoid them from cripping into your product otherwise it will lose the acceptance which no producer can afford.
A domestic market will usually have only one kind of money and one set of trade laws. The global market uses many kinds of money which fluctuate in their exchange value, and many sets of laws regarding international trade. The global market is much more complicated and on a larger scale than the domestic market.
A global marketing opportunity refers to the potential for a business to expand its products or services into international markets, capitalizing on demand beyond its domestic borders. Influences on these opportunities include economic conditions, cultural differences, regulatory environments, technological advancements, and competitive dynamics in target markets. Additionally, shifts in consumer behavior and preferences, as well as trends in globalization and trade agreements, can significantly impact the viability and success of global marketing strategies.
Importance of marketing Marketing is very important nowadays in the business world, and the importance of marketing is increasing day by day, Domestic level: To promote local products and services, to local customers in local markets, and to bring good effect in needs and wants of local customers Global level: Services are promoting multinational business all around the world to international customers in international markets, for Example Microsoft Company operates all over the world, and the marketers is performing marketing for them
It can be easier because you can tap into a global marketplace, but you will be competing in a saturated market if you don't find a niche. When thinking about starting an internet marketing business, make sure that you are well-qualified to sell your services to businesses that may not have any clue about the differences between internet marketing and traditional marketing.
Difference between Domestic & International Logistics can be said to arise mainly on account of the three major factors :1) Logistic costs is International Business is much more higher than the domestic business2) The Logistic Mechanics are much more complex in the context of international logistics than the domestic logistics3) The political, cultural and institutional factors connected with international logistics are of considerable importance whereas these are usually not of much consequence in the context of domestic logistics.
Global business is a business that is based in a single country but acquires some meaningful share of its resources or revenue from other countries. A domestic strategy is a business that does all of its business in a single country.
There are fewer concerns with domestic marketing when compared with global marketing. One of the biggest advantages includes not having to worry about language barriers. Another advantage is lower shipping costs.
Global marketing refers to marketing on a worldwide scale, taking into account differences in global operations. International marketing, rather, refers to one country marketing specifically to Another Country.
A domestic market will usually have only one kind of money and one set of trade laws. The global market uses many kinds of money which fluctuate in their exchange value, and many sets of laws regarding international trade. The global market is much more complicated and on a larger scale than the domestic market.
A global marketing opportunity refers to the potential for a business to expand its products or services into international markets, capitalizing on demand beyond its domestic borders. Influences on these opportunities include economic conditions, cultural differences, regulatory environments, technological advancements, and competitive dynamics in target markets. Additionally, shifts in consumer behavior and preferences, as well as trends in globalization and trade agreements, can significantly impact the viability and success of global marketing strategies.
Global marketing refers to marketing on a worldwide scale, taking into account differences in global operations. International marketing, rather, refers to one country marketing specifically to another country.
Domestic politics refers to political activities within a specific country, involving policies and decisions that impact that nation. Global politics, on the other hand, involves interactions and relationships between countries on an international scale, covering issues like diplomacy, trade, and security. Domestic politics focus on internal governance, while global politics address relationships and dynamics between countries.
Domestic marketing is the marketing practices within a marketer's home country. Foreign marketing is the domestic operations within a foreign country (i.e., marketing methods used outside the home market). Comparative marketing analytically compares two or more countries' marketing systems to identify similarities and differences. International marketingstudies the "how" and "why" a product succeeds or fails abroad and how marketing efforts affect the outcome. It provides a micro view of the market at the company level. Multinational, global, and world marketing are all the same thing. Multinational marketing treats all countries as the world market without designating a particular country as domestic or foreign. As such, a company engaging in multinational marketing is a corporate citizen of the world, whereas international marketing implies the presence of a home base. However, the subtle difference between international marketing and multinational marketing is probably insignificant in terms of strategic implications. Domestic marketing is the marketing practices within a marketer's home country. Foreign marketing is the domestic operations within a foreign country (i.e., marketing methods used outside the home market). Comparative marketing analytically compares two or more countries' marketing systems to identify similarities and differences. International marketing studies the "how" and "why" a product succeeds or fails abroad and how marketing efforts affect the outcome. It provides a micro view of the market at the company level. Multinational, global, and world marketing are all the same thing. Multinational marketing treats all countries as the world market without designating a particular country as domestic or foreign. As such, a company engaging in multinational marketing is a corporate citizen of the world, whereas international marketing implies the presence of a home base. However, the subtle difference between international marketing and multinational marketing is probably insignificant in terms of strategic implications.
the main diffenrence of global and regular marketing is scope of activity....
Nexxus and Global Entry are both programs that offer expedited border crossing, but they have some key differences. Nexxus is a program between the United States and Canada, while Global Entry is for travelers entering the United States from other countries. Nexxus allows for expedited processing at land, air, and marine ports of entry between the US and Canada, while Global Entry is specifically for air travel. Additionally, Global Entry includes TSA PreCheck benefits for domestic flights within the US, while Nexxus does not.
Differences between goods and services in global marketing imply that strategies must be tailored to the unique characteristics of each. Goods are tangible and can be standardized across markets, while services are intangible, often requiring adaptation to local cultures and preferences. This necessitates a focus on building relationships and trust in service marketing, as well as emphasizing the customer experience. Additionally, service delivery may involve varying degrees of localization, affecting pricing, promotion, and distribution strategies.
Electronic global marketing is e-Global marketing. e-Global marketing is when businesses advertise around the world. Many businesses do this online.