“Global marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives."Global marketing is developed by various multinational companies on a global level in order to set a common brand platform for their products and brands. It is then passed on to each local or domestic market who makes adjustments for their country and manages its implementation. Such a structure ensures a global brand consistency, pricing and messaging. It also can have significant cost savings as major advertising and marketing campaigns can be developed centrally and implemented locally. One might think that global markets are accessible only to large companies with the deepest pockets. But Smaller companies (SMEs) also have potential to succeed in international trade due to their flexibility and nimbleness.As the companies constantly remain in pressure for the delivery of quality product as need of individual.For more profit input and all data is gathered to reach the standard of the company and meet expectation of the customer. There are many different strategies that came into consideration in Global marketing:-
a)Consulting market research:Constant Research is considered to meet the needs of the potential customer and and adjust their products' standards and features according to that.Global marketing is the perfect way to tailor your services and products for standardised market.
b)Advertising Aspect:Advertising is the most critical activity to look into.If the product effectively advertised then it is able to communicate to the global market the potentials of your product.
c)Pricing of Products:Pricing is another marketing strategy that help to help control and standardize pricing for certain products.
d)Global Positioning:It is the toughest of all the global marketing strategies.With the pressure of competition and quality standards company need have to remain up to date.For the Global positioning of product constant study and time both are critical factors.
e)Selling of Product:As a global company,person need to create various channels through which individual call will be handeled for the order by your customers.For the more accessibilty of the product more distribution channels are considered at the final stage of the global marketing strategies.The intersection is the result of the process of Globalization.Marketing mix 4 P's are simply adapted in way to take into account diiferences in consumer and segment.The cost of research have been substantially reduced due to wide availability and substantial distribution.Global marketing landscape have been radically altered by internet.Based on available data prices are adjusted and tailored.For successful campaign culture sensitive advertising and branding of product is done.Closed Loop Marketing requires the constant measurement and analysis of the results of marketing initiatives. By continuously tracking the response and effectiveness of a campaign, the marketer can be far more dynamic in adapting to consumers’ wants and needs.