Comparative International Marketing Overview International marketing can be recognized as the marketing activity that is conducted by the companies in overseas markets. It can further be referred as company-level marketing criteria in the global market. It comprises the market determination along with other parameters such as targeting, marketing mix, entry-mode choice and tactical decisions so that the firms can vie in the global markets…
It is a well known fact that the famous and well known brands make use of multiple brand elements. For instance, Nike makes use of the ‘swoosh’ logo, ‘Just do it’ slogan and the legendary ‘Nike’ name based upon ‘winged goddess of victory’ (Wrenn, Kotler, & Shawchuck, 2009). Therefore, in this regards, it can be stated that the most recognized global brands tend to possess the various brand elements such as name, logo, and slogan as well as brand story. The six main parameters for choosing the brand elements are that they need to be meaningful, likable, memorable, adaptable, transferable and protectable (Wrenn, Kotler, & Shawchuck, 2009). Reasons for Preferring Global Brands In particular, the brands that operate across international borders and are widely recognized all over the world are generally categorized as global brands. Researches on global brands such as Adidas, Zara, and Nokia among others have established their benefits in comparison to other brands. It is often assumed that the global brands tend to provoke greater favorable affect. They are perceived to be of considerably superior quality and thus enjoy greater recognition as well as trust. They have also been found to be evoking luring global myths and tend to have greater advantages in comparison to the local brands. Global brands demonstrate positive impact on brand esteem. Global brands are generally preferred by the customers because of their wide accessibility. These brands are well known, standardized, more multi-ethnic, and highly authoritative and are also observed to be depicting more social responsibility in comparison to other brands (Dimofte, Johansson, & Bagozzi, 2010). Role of Global Branding To Firms One of the significant advantages to the firms from global branding has been economies of scale. The companies are likely to benefit from huge economies of scale that can be generated in all parts of the business methods. Large economies of scale can be created with a comprehensive focus on Research & Development (R&D) efforts in a few of the international locations, the rationalization of the production methods and the standardization of the marketing program. The second most significant benefit to the firms from the global brands is the generation of the unique global image. This helps in the reduction of the costs in the communication area. The other benefit of the global brands to the firms is that there will be increase in the sales of the companies since the travelers will view their preferred brands being available at other markets as well. The trade channels are likely to accept a global brand that has been advertised in their market (Girboveanu, n.d.). It can be stated that the global brands tend to be beneficial for the firms as they are largely driven by a single focused strategy in their globalised operation. Benefits of Standardization For Certain Brands Even though there is high demand for the local products owing to the economic growth taking place as well as anti-globalization sentiments, it has been observed that the global brands and products are generally standardized. A few of the international products that have been standardized are Gillette razor blades along with other brands such as Sony and Benetton. The significant pros of ...
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(Comparative International Marketing Assignment Example | Topics and Well Written Essays - 3500 Words)
“Comparative International Marketing Assignment Example | Topics and Well Written Essays - 3500 Words”, n.d. https://studentshare.net/marketing/11025-comparative-international-marketing.
It is also the process undertaken by a firm that can cause an increment in its involvements in international operations. Various scholars have defined it as the work out undertaken by organizations that lead to an increment in their knowledge of the impact of international deals on their future, set up, and undertake deals with other countries.
of origin 13 Coca-cola in developing countries 14 Changes in the image of the home country of a company 14 Other countries 15 Conclusion 15 Introduction The Coca-Cola brand is a product of Coca Cola Company. The company was set up in 1886 and is currently the leading distributor, marketer, and manufacturer of non-alcoholic beverages (August 2008, p.
Many company has already expand their market in the multiple international market and they are primarily known as multinational companies (MNC). Considering the better business performance of the MNCs in the international other competing global firms imitates them and entered into the same international markets intensifying the global competitiveness.
Tracing the history and evolution of the international trade is synonymous with searching the beginning of human civilization. International trade was visible with the Babylonians, Egyptians and Greek merchants, who used to trade spices, coral, jewelry, slaves and pearls across the globe.
This commitment was seen on the amount of money the BMW invested in the revamping the company.
First they had to replace the production machinery with new one similar to those used in Germany plant. Then they had to restructure the human resource by striking new deals with the workers.
The youth of Pakistan is always willing to try new items that come in the market. They are fond of eating ice cream and ice cream desserts. Launching such an item in this market would be really beneficial for the organization. Consumers in Pakistan are familiar with ice cream products and always wishes to have a new and different flavour (Pakistan, 2006).
cation, values and attitudes, technology and education provides multinationals with an opportunity to understand the background of their target market. Nations hold different values with particular communities having individual values. International marketers need to understand
ging their diverse workforces because they operate within different contextual factors unique to the different cultural backgrounds in different countries. Transfer of best HR practices to host countries is often problematic due to the varying environmental factors between host