Business Discussion replies
Student 1 : The terms international marketing and global marketing are frequently used interchangeably, but they are not interchangeable. However, they refer to completely different marketing campaigns. An internationalization strategy is global marketing. The corporation develops a product or service that meets the needs of the worldwide consumer. The corporation develops a global strategy for the planning, manufacture, placement, and promotion of these items or services. On the other hand, international marketing is a method of expanding a business outside its native geographical limits by establishing subsidiaries in multiple countries’ market segments. These subsidiaries develop and implement marketing principles and tactics that are tailored to the specific needs of the target local store (Interlogusa, 2021).
We will take some examples and dissimilarities to support that they are not interchangeable which are written as follows:
In global marketing, a corporation provides clients in all of its operating countries with the same product or service offerings. Banks, insurance businesses, and large retail groups such as Wal-Mart are examples. However, in international marketing, each unique market is served with custom-tailored items that are exclusively available to buyers in that area. Let’s take a look at Sharia financing products, which are only available to Muslim customers in Muslim or non-Muslim countries.
Companies use global marketing to air programs and radio ads that reach a worldwide audience. The objective is to approach a platform with a global reach. This allows the same uniform content to be delivered to a diverse group of people in different nations. However, when it comes to international marketing, TV advertising and radio spots are rarely used in various countries. The idea is to create unique content for each country while collaborating with and employing media outlets that will convey the custom-tailored message to a specific market.
However, this isn’t always the case, it’s usually easy to see the difference between organizations that take a worldwide marketing approach and those that use an international marketing approach simply by looking at their social media accounts. A corporation will have one page on each social media site for worldwide marketing. A corporation will open many social media profiles in international marketing, each one aimed at a different market or country. This allows the company to tailor its messaging to read in the relevant language with the correct semantics in each market, ensuring the intended message’s accuracy. They can also promote items or services that are only available in a limited number of countries (Prachi, 2019).
Every marketing plan is developed and constructed from the company offices in global marketing, whereas marketing efforts in international marketing are produced from within the domestic industries.
Student 2 : I do not believe that the terms International and Global marketing are interchangeable. According to Cateora et al (2020), International marketing can be defined as follows: “the performance of business activities designed to plan, price, promote, and direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit” (p.10). Firstly, the key phrase here is that these activities are performed in more than one nation, meaning that it could just refer to two countries. Whereas global marketing refers to all nations.
International marketing takes a specific look at each country it is doing business in and caters to it based on their particular needs. This can be viewed through International marketing tasks, where not only does it look at the uncertainty created by the uncontrollable elements of the usual business environment, but also must take into account the unique factors for that particular foreign country. International marketing takes a particular look at each of the aspects of the foreign environment it’s in. It takes into account uncontrollables such as political and legal forces, economic forces, cultural forces, level of technology, etc (Cateora et al, 2020).
A basic example of International marketing would be how McDonald’s changes their menu items based on the country it is in. McDonald’s considers the culture, economic environment, etc. when organizing their menu and will cater it to appeal to the people within that country. This is where I feel that it differs, as Global marketing could be exemplified through an Apple iPhone. An Apple iPhone is the same product being sold globally, the features or style does not change to cater to each country.
International and Global marketing are very similar and could be defined as the same, however it is my belief that their approaches are different. International marketing takes each individual nation it is doing business in and accounts for their uncontrollable elements. Additionally, International marketing could mean doing business in 4, 6, or 2 different nations. In Global marketing, I believe that it also pertains to the business activities designed to plan, promote, etc. However, it applies the same strategy for all nations, not necessarily considering each country’s individual factors and marketing to all nations as a whole
The assignment is to reply to these posts :
Requirements: A well detailed
Kindly order here 👉 https://questessays.com/order/