Free Global Marketing Essay Sample
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There are instances when American companies might opt for keeping the product the same but change their promotion. One incidence is in cultural diversity or change in consumer behaviors. There are a times when cultures viewing some products as having less value while others view them as of greater value. Such a circumstance, it is the responsibility of the marketer to change promotional tacks in order to play with customers' psychology to ensure that they have changed their perception to towards the product. For example the bicycles in the U.S have been taken as pleasure vehicles, while in other countries or cultures; they are taken as the main transport mode. In such an incidence, having one promotional strategy might not satisfy the two groups of customers. As a matter of fact, the company will change the promotional strategy but still maintain the product.
Another situation is change in marketing strategy. There are incidences when the potential customers end up changing to online shopping. In such a circumstance, it will be much necessary for the company to change from conventional promotional methods to using online, but still maintain similar products. . This is to ensure that, there potential customers are still in touch. Failure to do so will mean losing such like customers to other companies who are moving with customer behavioral changes. This has been depicted especially in youngsters who are always changing from one shopping mode to the other. For instance, they used to read news papers, then moved to watching televisions and currently are on the internet, (Lamb, Hair, & McDaniel, 2008).
In the presence of stiff competition in the market, it comes to being the responsibility of the Company to know how it maneuvers to win the completion. There comes a time when similar products get promoted with lots of people in the market. So for the American company to emerge the winner, it has to come up with different strategy different from their competitors to make them win the market as they will look unique in the eyes and minds of customers. For incidence, when every uses online advertisements, the company could choose Televisions to reach individuals who are not able to use the internet. The company could also change their packaging style to ensure that their products look somehow unique from others.
There are other incidences where, the company has to alter its products but still maintain their promotional strategies. Such like incidence are just as simple as changing package size. This includes Change of technology on the product development, for instance, electronic appliances. It is true that power sources and volts vary from one place to the other, hence they have to be made differently, or else, some might blow off immediately they are placed on power, or even some plugs if not made in the right shapes might not fix in some sockets.
There are other incidences when prices do differ from place to the other. In such a circumstance, the company needs to change depending on the market prices. As a result, they Change the product with an aim of reducing the cost of production to make it more cost competitive. For instance, a sachet of sunsilk shampoo might be going at 2 to 4 cents in one market, while in the other market, while in the next market, a nickel size of Vaseline package a tube containing enough close up for about 20 brushing sell for 8 cents each. If the company does don't change its products, it might encounter some losses cause different markets are offering different prices for different products
Another incidence is competition at the market which might force the company to either change its products or diversify risks, but still use similar promotion strategies. If the company with not, then it might incur lots of promotional expenses to a point of incurring some losses. If not careful, the company might be faced out of that market.
Out sourcing will help companies concentrate on core practices, by outsourcing expanded operations which might start consuming company resources at the cost of core activities. So outsourcing them, ensure on activities which led to the company formation. Another advantage is that complicated back office operations, which the company size hinders their operations at a consistent and reasonable expenses are better outsourced. Outsourcing has been allowing staffing flexibility as managers can only outsource for needed services, and stop when they become unnecessary. This is only possible with outsourcing, since employment will lead to work force rigidity. In addition, operations having costs that are running out of control are better outsourced. On top of these outsourcing brings better skills of management to the company. Outsourcing has also been thought of as a way of bringing continuity levels by the reducing risks that are as a result of standard levels of operations fin the company. In case of developing large projects which company's employees lack, project on-site outsourcing might fill that gap, and company's workers might learn such like skills when working together with them, (Lamb, Hair, & McDaniel, 2008).
It is true that teenagers in developed countries are becoming global consumers, and this explains the reasons as to why they all at the same time want and buy's similar goods and services. The reason that has led to this phenomena is that, in the Y generation, marketers have ended up having a new infatuation, or the so known as global teens. This is young people who have indicated remarkably similar traits and attitudes towards the shopping patterns. Another issue is that, of late there have been the so called international teenagers' uniforms which include clothing like baggy Levis, or even diesel jeans, T-shirts, Nike's wear, as well as leather jackets. Certainly from my perspective, there are no doubts that there exist far much greater similarities amongst teens currently as compared to what used to exist in 20b years ago. For instance, many similarities have been observed in the manner in which teens want to look, as well as what they want to consume.
Firms' global sales have been affected both negatively and positively due to exchange rates. Different studies have indicated that, any change in the exchange rate affects firms in the following ways. Changes in the exchange rates have shown signs of either increasing or lowering product prices sold a broad. Another point is the prices of different imported materials also tent to change, by whether going up or down, depending on whether the exchange has risen or fallen. The last point to argue here is that, the prices of competitors]' products and services might end up changing in the most home markets. The following example puts the points much clear. An increase din the rate of exchange means that, prices of goods will tent to go up in abroad market, hence lowering sales. As a result, in countries with lower currency values, costs incurred during raw materials importation will tent to go down, either resulting to a fall in prices leading to more sales, or a profit increase; in addition, competitors' prices falls meaning lower sales. If the exchange rate falls, the reverse is true.
According to the provided questions, Coca-Cola Company has the ability of promoting its products by practicing class promotion strategies. In the attainment of this strategy, the company should have different packaging with the aim of targeting either client in the city, rural or even suburban areas. Those individual living in cities like partying together, as a result, it is far much paramount for Coca Cola Company to engage in the promotion of large packaged products for such particular market, unlike in rural areas, which they can sell their products in smaller bottles. In addition, lifestyle in urban areas necessitate customers to prefer buying goods and services on disposable packaging, in which they can buy inform of takeaways without necessarily returning the bottles.