Global Market Place
Rapidly the world is shrinking with the advent of quicker communication, financial flows, and transportation. In the twenty-first century, firms may no longer afford to pay attention just to their domestic market, no matter how big it is. Several industries are global industries, and those firms that globally operate achieve lower costs and higher brand alertness. At the same time, global marketing can be dangerous because of variable exchange rates, protectionist tariffs, unstable governments, and trade barriers, and other prohibitive factors.
Given the potential benefit and risks of global marketing, companies require a systematic way to take their international marketing decisions. Decision areas that ought to be addressed are: (1) Deciding whether to go international; (2) How to look at the global market environment; (3) Deciding on the global marketing program; (4) Deciding how to enter the market; (5) Deciding which markets to enter; and, (6) Deciding on the global marketing organization. Each of these decisions ought to be seriously considered and answered if success is to be gains in the international competitive arena. All of the markets and industrial bases around the world are not the similar. There are altering degrees of economic sophistication. The marketer has to make plans for operations in subsistence economies, industrializing economies, raw-material-exporting economies, and established industrial economies separately if true marketing success is to be obtains. It would be easier on the decision maker if all the economies were as the United States. However they are not. Global marketing need an extensive amount of learning and, in some case, adaptation of the marketing mix to set the particular situation and economy.
Additionally global challenges having consideration of the marketing mix; the marketer that desires to go global ought to also consider a variety of option on how to line up the organization with international partners. These considerations are dissimilar than those that the marketer faces in its own domestic environment. The last result of making these new global decisions is not only development in marketing skills, but development toward attaining a truthfully global organization.