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Global Product and CRM

What is a global product or service? Can any product or service be marketed globally? Why or why not?

How can you relate the 4ps of marketing to Customer Relations Management (CRM) in a global business environment?

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What is a global product or service? Can any product or service be marketed globally? Why or why not?

How can you relate the 4ps of marketing to Customer Relations Management (CRM) in a global business environment?

ANSWER:

A "Global" organization is simply one, which has sales internationally, but doesn't necessarily coordinate work globally. The company isn't a multinational company either, in that it doesn't have a big presence in multiple nations. Rather, the keyword "Global" denotes that the company may be small but offers its products or services worldwide. When a product or service of any business crosses the national border of a given country, it becomes global. In other words global products and services are designed to meet global market segments.

Global marketing is defined as marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives. In order to survive in the global market, one should consider the followings:

Standardization -take the product or service as it exists in the home country and sell it in other countries without adaptation.

Adaptation -involves changing the product or service to match the requirements in the countries to which the product is being exported.

Creation -in some sectors, products or services are developed from scratch in order to meet the needs of a range of international markets. This is hard to do and even the automobile industry continues to search for the ‘world car ’ ...

Solution Summary

This solution discusses what a global product or service is, explaining the need to remember concepts like standardization, adaptation, creation, competition and market conditions.

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