Global and Domestic Marketing
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 Planning International Planning
1. Single language and nationality 1. Multilingual/multinational/multicultural factors
2. Relatively homogeneous market 2. Fragmented and diverse markets
3. Data available, usually accurate and collection easy 3. Data collection a large task requiring significantly higher budgets and personnel allocation
4. Political factors relatively unimportant 4. Political factors frequently vital
5. Relative freedom from government interference 5. Involvement in national economic plans; government influences business decisions
6. Individual corporation has little effect on environment 6. "Gravitational" distortion by large companies
7. Chauvinism helps 7. Chauvinism hinders
8. Relatively stable business environment 8. Multiple environments, many of which are highly unstable (but may be highly profitable)
9. Uniform financial climate 9. Variety of financial climates ranging from over-conservative to wildly inflationary
10 Single currency 10. Currencies differing in stability and real value
11 Business "rules of the game" mature and understood 11. Rules diverse, changeable and unclear
12 Management generally accustomed to sharing
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 Planning International Planning
1. Single language and nationality 1. Multilingual/multinational/multicultural factors
2. Relatively homogeneous market 2. Fragmented and diverse markets
3. Data available, usually accurate and collection easy 3. Data collection a large task requiring significantly higher budgets and personnel allocation
4. Political factors relatively unimportant 4. Political factors frequently vital
5. Relative freedom from government interference 5. Involvement in national economic plans; government influences business decisions
6. Individual corporation has little effect on environment 6. "Gravitational" distortion by large companies
7. Chauvinism helps 7. Chauvinism hinders
8. Relatively stable business environment 8. Multiple environments, many of which are highly unstable (but may be highly profitable)
9. Uniform financial climate 9. Variety of financial climates ranging from over-conservative to wildly inflationary
10 Single currency 10. Currencies differing in stability and real value
11 Business "rules of the game" mature and understood 11. Rules diverse, changeable and unclear
12 Management generally accustomed to sharing