The market environment today has assumed a different direction especially due to the rising technology. The changes in tastes and fashions have laid a big challenge for the business environment and for most global companies. They have to keep updating their marketing skills for their products in order to be successful in the global environment. Various factors will always affect the marketing of the product based on the locality of the product. In every country that the global companies are marketing their products there are those considerations that they must put in place in order to succeed in marketing their products.
A company that is marketing the same product in different countries does not have to use the same strategies to market its products in the different regions. Good market research is required in order to ensure that the company is able to satisfy the customer’s needs in all markets. The strategies adopted for marketing must be able to satisfy that specific market and they do not have to be necessarily the same for the other markets (Johansson, 2002, p8). This paper analyses the different strategies and ideas that global marketers should put into consideration to overcome the global challenges that are there today and be very successful in marketing their products globally.
The sensitivity of the products in the market determines the strategies that the company should focus on (Levitt, 2006, p25). In marketing products in the global market, the marketers need to understand the values of the target customers and also their culture. The attributes that are held very important within the customers values must be reflective in their products and this will make it easier to market the product.
This then calls for good strategies of product mix especially where you are dealing with the multicultural society. Giving the customers a wide range of options to choose from, nets a bigger percentage of the consumers to the company’s products. Managers dealing with marketing the international brands need to groom their products to focus more on the individual needs and values in order to remain competitive within the global market. Companies need to invest in marketers who understand the needs of consumers across the globe and come up with brands that can be successfully competitive in the global markets.
Price of the product is a major effect in marketing of products globally. The price of the products should actually vary in the different markets depending on the cost of the product. For example if the product is manufactured locally it will be cheaper than a product that is imported. If price is a hindrance, the global marketers can consider opening up companies in the different markets they sell their products.
This will make their products more competitive since the products will be sold at a lower cost. Another factor to consider is the nature of the products that the company is marketing. It is very possible for a company to sell a single product in all the markets and be very successful. All that the company needs is to have different strategies that are fit for the different elements exhibited in each market (Jones, 2000, p22). This includes different packaging, sizes, color, brand name, language in the products among other factors. In this case, the marketers are convincing to all the customers in the different markets and they remain competitive.
Another consideration for the marketers should be the distribution of the product. A product well distributed makes it very easy for the customer to access the product. A product that is readily available within the customer’s locality is more marketable since the customers will not have to travel long distances incurring other costs to get the product. Once the companies have familiarized the customers with their products, the next strategy should be ensuring that the products are very available to the customers. The distribution strategies may vary from country to country and companies must be careful to be conversant with each country’s methods of product distribution. Another important consideration for marketing the products is the methods that the company uses to communicate to the target customers.
This includes communication strategies such as advertising in the media, newspapers, internet among other methods. Advertising of a product is very important since it informs the consumers the availability of the product in the market and its advantages over the other products. In advertising, companies must try to maintain competitive advantage by focusing on the benefits of the products which are not present in the competitor’s products (Johansson, 2002, p16). The methods of communication should be mainly persuasive and very convincing to the customers.
Apart from focusing on the products and its characteristics in the global market it is important for the company to have a good organization structure that will enhance the performance of the company (Levitt, 2006, p38). The image that the company displays in the public contributes a lot to whether consumers will be interested in their products or not. A company that has good management and leadership will have excellent performance in the service departments that are concerned with the consumer products.
This ensures that the company has employed competent and intelligent personnel that are accommodative of change in order to cater for the customer needs at all times. In the global market, companies must be well organized to have subsidiary companies in the countries where they sell their products. This ensures good control and good communication at all times within the market about the product.
John Jones, 2000. International marketing. Successful Strategies. Sage Publications, p12-27.
Johnny K. Johansson, 2002. Global Marketing: Foreign Entry, Local Marketing, and Global Management. McGraw-Hill, p7-19.
Theodore Levitt, 2006. Global Marketing Management. Harvard University Press, p23-42.