4) What are the advantages and disadvantages of global promotional strategies?
The global companies try to achieve a strategic position on each market they are present in. To reach that goal, companies need to differentiate the products from competitors, while holding the costs of market communication activities at lowest level. Also global companies have to make an effort to sustain advertising campaign in all the markets in which there are present, because wherever they live people tend to react positively to companies and products they know about. In this point, global promoting strategies help brand familiarity, which plays an important role in the market. Global promotion strategies can use a standardized theme globally, but may have to make adjustments for language or cultural differences. Advantages:
-Adaptation: Fully adapting an advertising message for local markets. Changes may have to be made due to media availability. -They have a high level of coordination of its market communication. -The companies can modify products for different countries. Also new products are designed for foreign markets. -To incorporate all the differences into one product design and introduce a global product. -Standardization provides benefit such as cost saving in production and marketing. Disadvantages:
-It can cause communication issue based on verbal, pictorial, symbolic, idiomatic languages. -The product gives the consumer an identity so they can put the consumer in bad situations, if the products have a problem. -Cultural differences have to realize by the companies before entering the market. For example, when Barbie doll imported to China, consumer did not even buy one. Barbie was not related with Chinese appear, that is why kids did not want to play t with Barbie. After that, the company made new Barbie just looked like Chinese people; at that point they got consumer interest. In conclusion, global promotions strategies are your weapon in this...