Elements of The Global Marketing
Not only do standard marketing approaches, strategies, tactics and processes apply, global marketing requires an understanding of global finance, global operations and distribution, government relations, global human capital management and resource allocation, distributed technology development and management, global business logic, interfirm and global competitiveness, exporting, joint ventures, foreign direct investments and global risk management.
The standard “Four P’s” of marketing: product, price, placement, and promotion are all affected as a company moves through the five evolutionary phases to become a global company. Ultimately, at the global marketing level, a company trying to speak with one voice is faced with many challenges when creating a worldwide marketing plan. Unless a company holds the same position against its competition in all markets (market leader, low cost, etc.) it is impossible to launch identical marketing plans worldwide. Nisant Chakram(Marketing Management)
Read more about this topic: Global Marketing
Famous quotes containing the words elements of, elements and/or global:
“But all subsists by elemental strife;
And Passions are the elements of Life.”
—Alexander Pope (1688–1744)
“psychologist
It is through friendships that teenagers learn to take responsibility, provide support, and give their loyalty to non- family members. It is also in teenage friendships that young people find confidants with whom to share thoughts and feelings that they are not comfortable sharing with their parents. Such sharing becomes one of the elements of true intimacy, which will be established later.”
—David Elkind (20th century)
“Much of what Mr. Wallace calls his global thinking is, no matter how you slice it, still “globaloney.” Mr. Wallace’s warp of sense and his woof of nonsense is very tricky cloth out of which to cut the pattern of a post-war world.”
—Clare Boothe Luce (1903–1987)