Global Marketing Importance

2941 Words 12 Pages
TOPIC: WHY DO YOU THINK GLOBAL MARKETING IS CRITICALLY IMPORTANT IN INTERNATIONAL BUSINESS

Today, global marketing is essential not only for the realization of the full success potential of a business, but even more critically for the survival of a business. A company which fails to go global is in longer of losing its domestic business to competitors with lower costs, greater experience, the better products and in a nutshell, gives more value for the customer.
The important of going global to ensure company survival is a more powerful motive for many companies than the attract ion of opportunity aboard. Industries that were entirely national in scope only a few years ago are dominated today by a handful of global companies.
Marketing is
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A simple explanation is the more company grows, the faster the company will learn on the needs of its customers, and the more company learns, the more effective it will become at rolling out new and improved product and service offerings. Since a domestic marketing is only limited to small and medium sized market, therefore, it is vital for the company whom wished to venture out to focus on the global marketing for example the four “P”; product, price, placement and promotion which will adjusted in order for the brand to be successful in markets that differ in language, customs and consumer needs, As a result improved its product and service indirectly. Besides that, the standardized product, uniform design, packaging and advertising help the company to focus its resources to invest in a specialized technology, machine tools thus improved their product’s quality and …show more content…
According to Chandler Jr., Alfred D. (1993), the simple meaning of economies of scale is doing things more efficiently with increasing size or speed of operation. Thus, in other words, economy of scale is an economic term describing a business model where the long-run average cost curve declines as production increases. Thus, a manufacturing company saves money as it produces higher quantities of its product. For example a private soft drinks manufacturer Coca Cola, the more orders that the manufacturer receives, the more savings it makes, as it will in turn get cheaper prices for the materials that it needs to produce its drinks (e.g. plastic, aluminum, sugar) since the manufacturer will be buying them in larger quantities and receiving discounts, the manufacturing company in turn would give its customers cheaper prices for the more orders for drinks they make for this very reason, as they will gain the discounts, they can pass a saving onto their customers, making themselves stronger, a more respected company from its suppliers as it is buying in higher volumes and its turnover becomes higher. All these factors contribute to the benefits of economies of

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