Global Marketing
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Video Summary – International Marketing
Global marketing is all around us without us even noticing. The products in our houses were built in one country, possibly sent to another country to be assembled and then shipped to the store in the U.S. where we purchased it.
Global marketing is important for four reasons. The first is the expansion of free markets. There are millions of people that were restricted from participating in the global economy. Now they can do so because of the fall of communism, China being able to develop, and emerging economies throughout the world. The second reason is because of the expanding population. The speed the population is growing in the emerging economies is higher than it is in the already developed markets. Since the birth rate is slowing down in developed countries, eventually causing the developing markets to be, as consumers, much more important in the global economy. Modern telecommunications is the third reason global marketing is becoming so important. The falling cost of telecommunications and cheaper air travel allows consumers in one country learn about what the consumers in another country are thinking and doing. Theres also a greater exchange of ideas such as music, art, fashion and lifestyles. This causes a more natural way for consumers tastes to intersect. The fourth reason for global marketing is because of the increasing global competition. Many industries are now on an international level, resulting from the free flow of investment capital from one country to another. This allows for mergers and acquisitions that bring firms together leading to the formation companies that are global in size and opportunity.
Going global is not a good choice for every business. Companies need to look at the reason why they should go global, such as building sales volume and creating more efficient manufacturing. Its possible that if they developed a new product that is pertinent to a branch of customers that are all over the world. In another country when the product is not well known causes a company to start over again, building a new market, gaining new insights into the process. Going international can also give a company some protection against the change in demand in their own market. One of the most important factors to consider about go global, is that competitors from other countries could make their way into our markets. It might be the companys best defense to go into other markets to figure out more about what their doing.
I was watching the Filmmakers Destination video on the Universal website and one of their biggest messages was that they are there to make the client happy, whatever the client needs they give. I also visited the sites for the other parks around the world. I noticed that they didnt really change the idea behind the park too much. Universal Studios Singapore had a section called New York giving