Global Marketing

International Marketing Discuss the similarities and differences of global markets, global business and global customers. Global markets, global business and global customers share many similarities, and their differences are significant, influencing go-to-market strategies by nation and region. The similarities of global markets, business and customers include a common need for orienting marketing and promotion to the needs, wants and preferences of consumers.

All three areas of markets, business and customers also share a common foundation of channel management and selling strategies that must be aligned to the customers' preferences as to how they want to buy. Each of these three areas of markets, business and customers all share a common foundation of needing to be based on the time-based expectations of customers as well. This refers to the expectations of speed and accuracy customers have across all regions of the world.

The markets, business and customers all also share a common need to have synchronized, well-defined integrated marketing communications (IMC) strategies as well, which is essential for any marketing strategy to succeed. The differences of global markets, business and customers are significant and often require marketers to create and implement vastly different strategies by region, nation and at times, cities within the same country. The differences in markets range from demographic differences including age distribution fo the citizens and income to purchasing power and Gross National Product (GNP).

The business and customer differences can be equally significant, ranging from a strong orientation towards religious values as is the case in many Muslim nations, to the valuing of individual freedoms and liberties that are not as pervasive as they are in the United States. Marketers must be sensitive to these many cultural differences that underscore the drastic differences between markets, businesses and customers. 2. Identify and discuss strategies multinational corporations can use to grow their revenue and profit in a slowing global business environment.

The last several years has seen a continual global recession that has challenged even the most effective internal marketing firms to attain their goals. For marketers to grow revenue and profit in a slowing global economic environment, the best possible strategy is to first devise strategies to hold onto their existing customers through accentuate loyalty programs. As competitors will do everything they can to steal customers during challenging economic times, companies must work doubly hard to keep their existing customer base and reward.