Global marketing is identified by the Merriam Webster’s Book as “the process of promoting and offering manufactured products over a global market”. It is used to make reference to the advertising practice by which products are created and marketed in different marketplaces for different reasons. For example a new toothpaste company is sold in the US since it has better taste and is certainly preferred with a large percentage of the number. The marketing practice therefore focuses on getting market share to get financial goals. Therefore there is no necessity to promote toothpaste in the developing countries because for the reason that country there is also a huge with regard to it. The actual cause of this is that tooth paste will not be of any value to them and the only goal is to get cavities filled and save money.
Global marketing can be defined as the integration or harmonizing of domestic and global marketing practices to attain financial desired goals. This practice has become required for understand the competitive advantages of virtually any business in today’s global marketplace. The concept of global marketing can be not fresh; however with the passage of energy it has become more important. With the creation of globalization, the companies experience begun to market their products out of all significant markets across the world including Asia, Europe and Latin America.
The global marketing strategies help to gain a competitive advantage within the competitors. One example is marketing in Asia can help the companies to reduce their fixed costs like cost to do business cost and labour cost. They also concentrate on marketing many in various learn the facts here now segments belonging to the market like high progress markets, smaller middle category, students and so forth. By doing so they will attract a large number of buyers from these sections which will cause growth in their business. This is one of the major reasons behind global market research for the betterment of a business.
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