Global Marketing

Global Marketing Gaffes: Here are some examples of how companies failed when localizing their business in different countries leading to embarassing results. Braniff International Airlines translated a slogan touting its finely upholstered seats “Fly in Leather” into Spanish as “Fly Naked.” Clairol launched a curling iron called “Mist Stick” in Germany even though “mist” is […]

Global Retailing is any retailing activity that crosses national boundaries. For centuries entrepreneurial merchants have ventured abroad to seek out merchandize and to establish retail operations. Today’s global retailing scene is characterized by great diversity. Diversity in the Global Retailing Scene Department stores literally have several departments under one roof, each representing a distinct merchandise […]

In attempting to understand anther culture, we inevitably, interpret our new cultural surrounding on the basis of existing knowledge of our own culture. There is a human tendency towards ethnocentricity. These ‘biased’ interpretations happen unconsciously, and they prevent cultural empathy. Lee (1966) introduces the self-reference criterion to characterize our unconscious reference to our own cultural […]

EPRG (acronym for Ethnocentric, Polycentric, Regiocentric, and Geocentric) is a framework to explain internationalization approaches of businesses. It is used in the internationalization process of businesses, and helps understand the type of orientation a firm may have towards international business. The EPRG Framework explains Management assumptions (conscious & unconscious) or beliefs about doing business around […]

The Emergence of a New Economic Powerhouse: The rise of BRICS (Brazil, Russia, India, China and South Africa) as the 21st century’s engines of global economic growth. There is a shift of power within the world economy towards these countries, especially China. These countries look interesting for global marketers due to the following reasons: Growing […]

Understand the structure of Global Competition and resulting strategic options. The Globalization of Competition An inevitable consequence of globalization of markets is the growth of intense competition on a global scale. Liberalization, deregulation and privatization are the three forces that are transforming the global business environment and lead to a greater number of competitors and […]

Prahalad (2004) and Karnani (2007) discuss the role of private sector companies in responsibly serving bottom of the pyramid markets (low income markets) in efforts to reduce poverty. Prahalad (2004) suggests that businesses and governments should stop thinking of the poor as victims but as value-demanding consumers. BOP markets should be part of core business […]

Global advertising may be defined as messages whose art, copy, headlines photographs, taglines, and other elements have been developed explicitly for worldwide suitability. A standardized ad campaign requires a key message, delivered to the target audience, that must resonate across countries and cultures. Here are a few Examples: Nike (“Just do it”) McDonalds (“I’m lovin’ […]

In a globalized world, the entire world is a marketplace, and market segments are no longer considered based only on the basis of national borders. Products have always been travelling and international trade has existed for centuries. While international trade is not new, the mass-marketization of products in a globalized marketplace is new. Definition of […]

Global Market Segmentation: Here’s how firms screen and select country markets to enter. Importance of Entering the ‘Right’ Market There are over a couple of hundred countries and territories, but most firms do not compete in all those markets. Adding another country to a company’s portfolio requires additional investment and represents a new business risk. […]

Foreign Market Entry Strategies: Various ways to enter the international market. Any company that wants to enter the international market has to take some strategic decisions pertaining to that foreign market; it has to analyse the market and plan its entry in that market, besides considering other factors. Expansion Strategy Concentration versus Diversification Concentration: A […]

Marketing mixes can be standardized (global) or they can be adapted (local). Marketing mixes of most global companies tend to be “glocal” with some amount of localization. Standardisation vs Adaptation in International Marketing Once the firm has decided which countries to enter and which entry modes to use the next issue concerns how to design […]