GLOBAL MARKETING

ANALYZING INTERNATIONAL MARKETS

• It is essential for companies to
conduct research on foreign
markets to decide in which
countries to conduct business
and in which market segments
in those countered they
should target.
• Global market research
includes understanding the
market’s culture and social
trends, because these factors
impact which products
consumers will like and which
advertising appeals will
resonate with them.
ANALYZING INTERNATIONAL MARKETS
• Market segmentation is the process of
dividing a larger market into smaller markets
that share a common characteristic.

• The aim of segmentation is to identify high

yield segments – that is, those segments that
are likely to be the most profitable or that
have growth potential

• Market segments refer to the groups of

people who share one or more common
characteristics, lumped together for
marketing purposes.

• The characteristics might be demographics,

such as segments divided by age groups,
genders, or household incomes.
Segmentation can also be done on the
basis of geographic location or by lifestyle.
MARKET POTENTIAL AND SALES POTENTIAL
3 MAJOR MARKETS
1. Consumer Markets. Consumer markets refers to the markets where
people purchase products for consumption and are not meant for
further sale. This market is dominated by the products which consumer
use in their daily life, may it be personal or shared.

2. Industrial Market. The industrial market is the set of all individuals and
organizations that acquire goods and services that enter into the
production of other products or services that are sold, rented, or
supplied to others. It consists of business to-business sales. One business
serves as a consumer, purchasing goods or services from another
business.

3. Government Market. A government market is a market where the

consumers are federal, state, and local governments. Governments
purchase both goods and services from the private sector.
 INFORMATION REQUIRED: SURVEYING INTERNATIONAL DEMOGRAPHICS

• By understanding customer
demographics, the company will better
understand the demand and supply
chain of the target market, developing
well-thought marketing plans, figure out
customer expectations and needs and
accurately launch their products.
MARKETING MIX
• Reaching new consumers is often the main reason for international expansion. The best
way to reach those international customers begins with the core of marketing knowledge
—the four Ps. Country differences will have important implications for how product, price,
promotion, and place play out when an organization takes its offerings across borders.
MARKETING STRATEGIES USED IN INTERNATIONAL MARKETS
• STANDARDIZATION - the ability to use standard marketing internationally.

Pros
• Costs Reduction Cons
•Sensibility 
• Brand 
•Loss of Uniqueness
• Quickly Implemented

• ADAPTATION -Adaptation strategies involve changing the price, promotion

and packaging of a product, or even the product itself, in order to fit the
needs and preferences of a particular country.

Pros Cons
•Respect local specifications and •Higher cost
expectations •Time consuming and poor speed
of execution
•Excellent Local image
•Difficulty to know what
•Customer keep their landmark consumers really want
and feel noticed
MARKETING STRATEGIES USED IN INTERNATIONAL MARKETS
• GLOCALIZATION -a combination of the words "globalization" and "localization." The term
is used to describe a product or service that is developed and distributed globally but is
also adjusted to accommodate the user or consumer in a local market.

Pros
• International products are adapted to the local taste of the population
and thereby local communities are introduced to different aspects of
foreign cultures.
• Multinational companies bring in foreign revenue and offer
employment opportunities for locals.

Cons
•Companies are unable to realize location economies or failure to
transfer core competencies to foreign markets.
•It is really difficult to implement a “glocal” strategy due to
organizational problems.