GLOBAL MARKETING STRATEGIES Advantages:

GLOBAL MARKETING – Greater appeal to local consumers

refers to the process of planning, producing, – Meets legal, cultural, and economic
placing, and promoting a business's products or services in differences
the worldwide market. It involves identifying target markets – Higher customer satisfaction
across different countries, adapting marketing strategies to Benefits:
fit local cultures and consumer behaviors, and maintaining a – Local responsiveness
consistent brand message while meeting the diverse needs – Cultural relevance
of global customers. – Regulatory compliance
IMPORTANCE OF MARKETING IN INTERNATIONAL Examples:
CONTEXTS – McDonald’s changes its menu based on
 Market Expansion: Helps businesses reach new local tastes.
customers beyond domestic borders, increasing – Unilever adapts packaging and advertising
sales and revenue potential. to regional preferences.
 Brand Awareness: Builds global brand recognition FACTORS INFLUENCING THE CHOICE
and reputation, making the company more 1. Cultural differences (Hofstede’s dimensions)
competitive internationally. 2. Economic environment
 Cultural Adaptation: Enables businesses to tailor 3. Legal and regulatory systems
products and messages to fit diverse cultural 4. Consumer behavior
preferences and consumer behavior. 5. Product type
 Competitive Advantage: Helps identify and respond
to global competitors, staying ahead with
innovative marketing strategies.
 Risk Diversification: Reduces dependence on a
single market by spreading business activities across
multiple countries.
 Customer Relationships: Facilitates better
communication and engagement with international
customers, improving loyalty and satisfaction.
 Increased Profitability: Access to larger markets
often leads to economies of scale and greater
profitability. MARKET SEGMENTATION AND TARGETING
1. STANDARDIZATION STRATEGY WHAT IS MARKET SEGMENTATION?
Using the same marketing approach across all international Modifying marketing elements to suit local
markets.
markets and cultures.
Advantages:
 Market segmentation and targeting matter
– Consistent brand image globally
because they allow businesses to focus their
– Cost savings through economies of scale
– Easier management and coordination resources efficiently and effectively by
Benefits: identifying and serving specific customer
– Cost efficiency groups with tailored marketing strategies
– Brand consistency MAIN TYPES OF SEGMENTATION
– Easier control and coordination a. Demographic – Age, gender, income, education
Examples: b. Geographic – Country, region, city, climate
 Apple uses the same branding and product c. Psychographic – Lifestyle, personality, values
design worldwide. d. Behavioral – Buying behavior, usage rate,
 Coca-Cola maintains consistent logos and brand loyalty
messaging globally
TARGETING STRATEGIES
2. ADAPTATION STRATEGY
a) Undifferentiated – One message for the whole
Modifying marketing elements to suit local markets and
market
cultures.
 b) Differentiated – Different strategies for each
segment
c) Concentrated – Focus on one specific segment
d) Micromarketing – Targeting individuals or local
groups
BENEFITS OF SEGMENTATION AND TARGETING
1) More efficient marketing
2) Higher customer satisfaction
3) Better product development
4) Improved competitiveness
GLOBAL BRANDING AND POSITIONING
 Brand positioning is the process of establishing
a unique and valuable place for a brand in the
minds of target consumers.
 Global branding is the process of creating a
brand image that's consistent in markets all
over the world. The purpose of global branding
is to help people from a variety of countries
and cultures recognize your brand.
WHAT IS BRANDING AND POSITIONING IN THE
INTERNATIONAL MARKET?
Global brand positioning is crucial for
organizations expanding internationally. It involves
creating a consistent brand identity across markets
while considering local preferences.
BENEFITS OF GLOBAL BRANDING
Optimizes profits: Ultimately, using an effective
global branding strategy can increase your overall
sales, which might boost revenue. Offers more
consistency: Both brands and consumers can benefit
from the consistency of global branding. While brands
can spread their message across all continents,
consumers can be sure they're getting the same
quality of product whether they're in, for example,
France or Brazil
CHALLENGE IN GLOBAL BRANDING AND POSITIONING
The primary challenge in global branding and
positioning for international business is balancing a
consistent brand identity with the need to adapt to
diverse cultural, linguistic, and regulatory
environments
GLOBAL MARKETING  Online platforms - Using online marketplaces or
Global marketing is the process of e-commerce platforms to reach customers in
conceptualizing and executing marketing strategies foreign markets.
worldwide, adjusting operational marketing to the Global Promotion & Digital Marketing
characteristics and demands of each local market. Global Promotion
Strategies used in Global Marketing It involves using standardized or adapted
 Product Adaptation - Adjusting local products to advertising and public relations strategies across
suit the cultural preferences and regulations of various countries to build brand awareness, increase
each country. sales, and foster customer loyalty in international
 Brand Standardisation - Maintaining a consistent markets.
brand identity globally even if there are local Digital Marketing
variations. It is the practice of promoting businesses or
 Market Segmentation - Dividing the market into products online using various digital channels and
specific segments to customize marketing strategies to reach potential customers worldwide.
campaigns. Various Factors in Global Marketing
 Digital Marketing - Leveraging global platforms, 1) Legal Factors
such as social networks and search engines, to a. Product Safety and Labeling
reach audiences in different countries. b. Advertising Standards
International Pricing and Distribution c. Intellectual Property
International Pricing 2) Economic Factors
A strategic approach to determining the price a. Economic Growth
of products or services in different international b. Inflation and Interest Rates
markets c. Currency Exchange Rates
Key Considerations of International Pricing: 3) Political Factors
 Local Market Conditions a. Government Policies
 Currency Exchange Rates b. Political Stability
 Competition c. Trade Policies
 Customer Expectations
 Costs
Examples of Pricing Strategies
 Cost-plus pricing - Adding a predetermined
markup to the cost of production.
 Market-based pricing - Setting prices based on
what customers are willing to pay.
 Competition-based pricing - Setting prices based
on what competitors are charging.
International Distribution
International distribution involves selling and
delivering products or services in markets outside the
country where they are produced, requiring managing
logistics, navigating trade regulations, and building
relationships with local partners.
Examples of Distribution Channels
 Direct Sales - Selling directly to customers through
the company's own online stores or sales force.
 Indirect Sales - Selling through distributor,
retailers, or other intermediaries.
CONSUMER BEHAVIOR 1. Problem Recognition
Refers to the study of how individuals, groups, This stage involves recognizing a need or a
problem that a product or service can solve.
and organizations make decisions about selecting,
2. Information Search
purchasing, using, and disposing of goods and services.
Once a need is recognized, consumers
1. Cultural and Social Influences begin seeking information to satisfy that need.
1.1 Cultural Influences 3. Evaluation of Alternatives
Refers to the way a society's shared values, Consumers compare different brands,
beliefs, customs, and norms. It shapes how models, and features of products or services that
individuals perceive, evaluate, and ultimately make could potentially meet their needs.
purchasing decisions. 4. Purchase Decision
EXAMPLES: After evaluating alternatives, consumers
A. Culture and Values - Cultural values shape make a decision about which product or service to
preferences and consumption patterns. For example, in purchase, considering factors like price, features,
India, vegetarianism is a common dietary choice and availability.
influenced by cultural and religious factors. 5. Post-Purchase Evaluation
After making a purchase, consumers
evaluate their experience with the product or
B. Religious Beliefs - can significantly influence
service.
consumer behavior, particularly regarding food, clothing,
3. Motivation, Perception, and Attitudes
and entertainment.
Motivation
C. Local traditions - Festivals and celebrations might
This is the driving force behind consumer
drive demand for specific products or services.
actions, stemming from unmet needs and desires.
D. Family values - Family dynamics might play a
Marketers can leverage this by understanding the
significant role in purchasing decisions, such as buying
various needs that drive consumer behavior and
necessities for children or home goods.
positioning their products.
E. Advertising - Advertisements can reflect and
Perception
shape cultural values and societal norms, influencing
This is the process by which individuals
consumer perceptions and behavior.
select, organize, and interpret sensory information
1.2 Social Influences
to form a picture of the world. How consumers
Refers to the ways in which individuals'
perceive a product or brand significantly impacts
purchasing decisions and attitudes are shaped by their attitude and purchase decisions.
their social environment, including family, peers, Attitude
and other social groups. This refers to an individual's overall feeling
EXAMPLES: or evaluation of a product or brand. It's influenced
1. Social Class - People in the same social class by both cognitive beliefs and affective feelings, and
tend to have similar tastes, preferences, and can be changed by marketing campaigns that
consumption patterns. highlight product benefits or address negative
2. Reference Groups - These groups influence perceptions.
buying decisions through their norms, values, and
attitudes.
3. Family - Family members significantly impact
purchasing decisions, particularly regarding products for
children or household needs.
4. Roles and Status - An individual's role in society
(e.g., parent, manager) can influence their purchasing
choices related to maintaining their social status.
2. Consumer Decision-Making Process
- It is a five-stage journey consumers undertake
when making a purchase.
FIVE STAGES:
Why Consumer Behavior Matters Globally? Mobile Commerce
 International business success hinges on Mobile devices are often the primary
understanding diverse consumer needs and gateway to online shopping in many
wants. international markets.
 Cultural, economic, and social differences Digital Payment Systems
significantly impact buying decisions across Diverse payment preferences and the
borders. rise of mobile wallets require adaptation.
 Ignoring consumer behavior can lead to costly Data Privacy and Security
marketing failures and missed opportunities. Building trust is paramount in
 Adapting products, marketing strategies, and international online transactions.
distribution channels is crucial for international
market penetration International Implications:
– Businesses need a strong online presence and
1. Lifestyle, Values, and Psychographics localized digital marketing
Lifestyle – strategies.
How consumers live, work, and spend – Understanding digital infrastructure and access in
their time and money varies dramatically different countries is crucial.
globally. (e.g., work-life balance in different – Customer service and support must cater to a
cultures, leisure activities) global online audience
Values
Deeply held beliefs about what is 3. Ethics, Sustainability, and Post-purchase Behavior
important influence product preferences and  Ethical considerations are reshaping consumer
brand loyalty. (e.g., individualism vs. buying behavior. People now prioritize
collectivism, tradition vs. modernity). sustainability, social responsibility, and animal
Psychographics welfare when making purchases.
Understanding consumer attitudes,  This shift has led to boycotting unethical brands
interests, and opinions (AIOs) provides deeper and supporting ethical ones, even if it means
insights beyond demographics. (e.g., paying more.
environmental consciousness, risk aversion)  Companies are responding by incorporating
ethics into their brand identity. They're
International Implications: emphasizing transparency, collaborating with
– Standardized marketing campaigns may fail if they non-profits, and developing ethical product
don't resonate with local lifestyles and values. lines. This approach helps them differentiate
– Product features and benefits need to be framed themselves and appeal to ethically-conscious
in a culturally relevant way. consumers.
– Psychographic segmentation can reveal niche
markets with shared attitudes across countries. Post-Purchase Behavior
– refers to the actions and reactions of a
2. Technology and Buying Behavior customer following a purchase. It encompasses
E-commerce and Online Marketplaces their satisfaction or dissatisfaction with the
Global reach and accessibility have product or service, likelihood of repeat purchases,
transformed how consumers discover and and willingness to recommend the brand to others.
purchase goods. This behavior is a critical component of the
Social Media and Influencer Marketing customer journey, as it can significantly influence
Cross-border influence and the power customer loyalty, brand perception, and future
of online communities are shaping brand sales.
perceptions.
 Positive post-purchase behavior can lead to
customer retention, repeat business, and brand advocacy.
Conversely, negative experiences may result in post-
purchase dissonance, characterized by returns, negative
reviews, and a potential loss of trust in the brand.
Understanding and addressing post-purchase behavior is
essential for businesses to build lasting relationships with
their customers and foster brand loyalty
 Emerging Trends in International Business Products must meet local standards (e.g., EU
Emerging Trends regulations on product labeling or safety).
Emerging trends refer to new and evolving As companies expand internationally, they face
patterns or developments that are beginning to shape a diverse cultural, economic, and regulatory environments.
particular field or industry but have not yet become fully Adapting products and services to suit local preferences is
established or mainstream. critical for global success. This practice, often referred to as
International Business localization, involves modifying aspects such as product
International business refers to exchanging goods, design, packaging, language, features, and pricing. For
services, technology, and capital across national borders. It instance, fast food chains adjust their menus to align with
involves commercial activities that take place between local dietary preferences—offering vegetarian options in
businesses or organizations from different countries. This India or avoiding pork in predominantly Muslim countries.
includes importing and exporting, as well as establishing Companies that fail to adapt may struggle to gain
operations like branches, subsidiaries, or partnerships in traction in foreign markets, while those that invest in
foreign markets. understanding local cultures are more likely to build strong
Emerging Trends in International Business customer relationships and brand loyalty.
Emerging trends in international business refer to
new and evolving developments that are shaping global 2. BRAND AND ADVERTISING STRATEGIES
commerce and trade. These trends often stem from shifts in BRAND STRATEGIES
technology, consumer preferences, geopolitical dynamics, Long-term plan devised by a company to establish
and societal values. They include factors like digital and differentiate its brand in the market. It is a
transformation, the rise of e-commerce, sustainability comprehensive framework that guides how a brand is
practices, and increasing global talent mobility. positioned, perceived and communicated to its target
audience.
1. Adapting Products and Services for Global Markets EXAMPLES OF BRAND STRATEGIES
refers to the process of modifying a company's offerings to 1) Product Branding - Focusing on the product itself
meet the needs, preferences, and expectations of and its features, benefits, and unique selling
consumers in different countries or regions. This adaptation propositions.
can include changes in product design, features, packaging, 2) Corporate Branding - Focusing on the company's
marketing strategies, and pricing to cater to cultural, values, mission, and overall reputation.
economic, and regulatory differences across markets. 3) Personal Branding – Creating a brand for an
Why is it important? individual, often used for career development.
Consumer preferences vary significantly 4) Geographic Branding - Promoting a specific location
across countries due to cultural, economic, legal, or region for tourism, trade, or investment.
and environmental differences. Businesses that 5) Brand Extension - Using an existing brand name to
ignore these differences often struggle in foreign launch new products or services.
markets. 6) Co-Branding - Collaborating with other brands to
1.1 Product Localization leverage their brand equity and reach.
Companies customize product features, packaging, ADVERTISING STRATEGIES
ingredients, and even aesthetics to suit local cultures. Action plan designed to increase sales of certain
Example: Lay’s potato chips offer flavors like products or services, attract new customers, and invite
“Masala Magic” in India and “Cucumber” in China. existing ones to make multiple purchases--things that are
1.2 Service Customization essential to any brand.
Global service providers tailor customer support, EXAMPLES OF ADVERTISING STRATEGIES
delivery systems, and payment methods for regional 1. SOCIAL MEDIA MARKETING - Utilizing platforms
markets. like Facebook, Instagram, and TikTok to connect
Example: Netflix curates regional content libraries with audiences and promote products.
and offers language-specific subtitles. 2. EMAIL MARKETING - Sending targeted emails to
1.3 Tech-Enabled Adaptation subscribers to promote products and build
AI and data analytics help businesses understand relationships.
regional user behavior and preferences. 3. INFLUENCER MARKETING - Partnering with
1.4 Regulatory Compliance influencers to promote products to their followers.
 4. AFFILIATE MARKETING - Partnering with affiliates
to promote products and earn a commission on
sales.
5. RETARGETING - Reaching out to users who have
previously interacted with a website or brand.
6. DIRECT MARKETING - Reaching out to customers
directly through mail, phone, or email.
7. EMOTIONAL APPEALS - Using emotional imagery
and storytelling to connect with customers on a
deeper level.
8.
3. SUSTAINABILITY AND GREEN BUSINESS PRACTICES
Involves companies integrating environmental,
social, and economic considerations into their operations to
minimize negative impacts and maximize positive ones.
EXAMPLES OF SUSTAINABLE PRACTICES
a) REDUCING WASTE - Implementing recycling
programs, using sustainable packaging materials,
and optimizing supply chains.
b) ENERGY EFFICIENCY - Switching to renewable
energy sources, implementing energy-efficient
technologies, and optimizing building design.
c) WATER CONSERVATION - Implementing water-
efficient technologies, reducing water usage in
production processes, and promoting water
conservation practices.
d) FAIR LABOR PRACTICES - Ensuring fair wages, safe
working conditions, and promoting employee well-
being.