Global and Domestic Marketing

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Solid Global Marketing decisions involve months of research. They also include a high degree of planning and internal strategizing. Factored accounts in the strategies are where the organization would like to be in three years, target audiences, spending and profit margins and eventually how to achieve the companies' ultimate goals. Advanced planning gives a number of advantages: • Helps coordinate activities

• Helps prepare for emergencies
• Gives activity continuity
• Integrates functions and activities
• Helps in a continuous review of operations.
While planning is an important part of any successful campaign, there are some considerations which are vital to the successful launch of a product domestically and globally. Some instances are identified in the following table: Domestic PlanningInternational Planning

1.Single language and nationality1.Multilingual/multinational/multicultural factors 2.Relatively homogeneous market2.Fragmented and diverse markets 3.Data available, usually accurate and collection easy3.Data collection a large task requiring significantly higher budgets and personnel allocation 4.Political factors relatively unimportant4.Political factors frequently vital 5.Relative freedom from government interference5.Involvement in national economic plans; government influences business decisions 6.Individual corporation has little effect on environment6."Gravitational" distortion by large companies 7.Chauvinism helps7.Chauvinism hinders

8.Relatively stable business environment8.Multiple environments, many of which are highly unstable (but may be highly profitable) 9.Uniform financial climate9.Variety of financial climates ranging from over-conservative to wildly inflationary 10Single currency10.Currencies differing in stability and real value 11Business "rules of the game" mature and understood11.Rules diverse, changeable and unclear 12Management generally accustomed to sharing responsibilities and...
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