Global Marketing
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1. In discerning the global marketing environment, what are the five factors which are imperative in determining the global marketing strategy and the associated marketing mix?
2. Clearly explain the advantages and disadvantages of home vs. host sources of funding for financing global projects. Why is it important for the global organization to balance the opposing factors of exchange rate risks and political risks?
3. What are your views on the importance of leadership as it relates to executing the global business plan? She or he must understand the difference between managing the deliverables of the plan versus setting a clear vision of the plan; how would you approach this CRITICAL aspect?
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This solution dealt with global marketing strategy as well as advantages and disadvantages of home vs. host sources of funding for financial projects along with leadership capabilities.
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1. In discerning the global marketing environment, what are the five factors which are imperative in determining the global marketing strategy and the associated marketing mix?
The five factors that are imperative in determining the global marketing strategy and the associated marketing mix are important. First, a company needs full commitment to the cause at hand to go overseas to other countries in order to promote their products, so that income can increase. If everyone is not in on it wholeheartedly, then it is not worth it. Second, a business plan defined when it comes to global markets. For example, the organization needs to have an internal plan on how to reach out to the other markets effectively, otherwise it could backfire on them upon trying to reach their goal, such as not becoming aware of the cultural norms before going over to negotiate a proposition with a future company. Third, an organization needs to set up a budget to know how much they can afford in their endeavor to expand their markets. This may mean cutting back in other areas, so that they can expand globally. Fourth, plan that it will take at least two years to get the product out to others who are interested in purchasing it in the future. Everything takes time, and when it comes marketing the individual will need much patience at this stage. Last, build your own company website, and implement your globally plan on it. In the end, ...
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