Global Marketing versus Domestic Marketing
Marketing is far and wide. Informally or formally, organizations and people engage in various actions that could be called marketing. Marketing deeply influences our everyday lives. Good marketing is the result of careful designing and implementation. Marketing practices are continually being refined and reformed in virtually all industries the chances of success. But marketing excellence is rare and difficult to achieve. Marketing is both a “science” and an “art” – there is stable tension between the creative side and the formulated side of marketing. Domestic marketing takes place within the boundaries of the nation. In a global industry the strategic ranking of competitors in the leading national or geographic markets are basically influenced by their global status. A global organisation is an organisation that functions in more than one country and captures production, R&D, marketing, logistical and financial advantages in its reputation and costs that are not obtainable to other purely domestic competitors. Research Background
In recent times most of the reputed companies are doing the international marketing and entering to the global market. And also would like to know the effects of global marketing versus domestic marketing. And how they are effective in the current recession and how it helps to recover the recession. In this global village era it is not possible to concentrate only in the domestic market, and to find out what are the strategies they taken for global marketing. And to find out what are the challenges that domestic retailers face in the global market. Wal-Mart Stores, Inc. one of the leading retailers in the world also ranks as the biggest corporation in the world. Domestically, Wal-Mart owns more than 1.2 million employees, making it the country’s largest nongovernmental company. With unique marketing strategies and good management techniques, Wal-Mart was able to function effectively not only in US but also in the international market .Wal-Mart Stores, Inc. was initially founded and established by Sam Walton at Rogers, Arkansas in 1962. The business development of the retail store was significant that within a period of seventeen years, Wal-Mart had topped yearly sales at one billion US dollars. They have a range of retail formats everywhere as Wal-Mart discount stores (placed in all 50 countries); Wal-Mart Supercenters, which are combined grocery stores and discount outlets (and which make them the country's leading food retailer); Wal-Mart Neighbourhood Markets, smaller drug and food outlets offering a variety of general merchandise; and Sam's Clubs, the number two U.S. warehouse membership club chain. The promotion strategies of Wal-Mart include a successful slogan “Low price always”. This is attained through bulk buying and large scale of operation. Although they have a small profit margin, they are able to retain their cost leadership in the market. International business, which started in 1991, comprise Wal-Mart discount stores in Puerto Rico and Canada; Wal-Mart Supercenters in Brazil, China, Argentina, Germany, , Puerto Rico, Mexico , United Kingdom ,and the South Korea; and Sam's Clubs in China, Mexico, Brazil, and Puerto Rico. Altogether, over one-quarters of Wal-Mart’s stores are situated outside the United States, and the international operations make more than 18.5 percent of total revenues. Research Objectives
The prime objective of the research is to critically assess the effectiveness of global markets, and to analyze and understand the difference between global markets and domestic markets. For the evaluation, this research has tried to find out various stages for changing a domestic company into a global company. Literature Review
According to S. Carter marketing is defined as the method of constructing lasting relationships through designing, executing and controlling the idea, promotion, pricing, services,...
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