Global Marketing: Frameworks, Theories, Types, and Strategies

This report provides a comprehensive overview of global marketing, covering frameworks, theories, types, and strategies. It explains the CAGE framework and the pros and cons of standardization and localization. It also explores international, global, transnational, and multi-domestic strategies. The report concludes by emphasizing the importance of keeping an open mind and being adaptable when developing a marketing plan for global markets.

International Business

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Frameworks and theories of global marketing : .........................................................................4
Types of global marketing:.........................................................................................................5
Strategies from an Global marketing . .....................................................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
International business links to any conditions where the contribution of goods and
services across the borders. Globalisation is a good opportunity for the company to have a
competing benefits in regional market as well as it provides a positive benefits to company(Li
and et.,al., 2020. ). This is evaluated that now days small business also exports their goods and
services to another country. This is refer to the commercial transactional or commercial
activities that hardly take place among two or more nations. Commercial transaction includes a
broad range of activities reach out either by the governing of nations in another country. In
present situation global management requires more than just ordinary management to ensure the
systematic functioning of global transaction without disruption. The current trends indicates
certain developments with the increase in the number of expertise in leadership positions. While
moving into international market many components should be taken into consideration just as
culture, marketing and licensing. In this report will cover the topic global marketing and its
concept. After that it will explain its types and its pros and cons.
MAIN BODY
Global marketing is the total marketing framework which an international enterprise
implements to outline, introduce, contribute and promote and manage its goods in the global
areas. Dimensions of the worldwide marketing concept consider the goods design, the nature of
packaging and labelling, the choice of a brand name, the presence or absence of guarantee, the
advertising policy in each nation, and the after sales service support. It includes planning,
producing and promoting a business goods and services in the global market. It is the process of
conceptualizing and after transferring a final goods and offers officially. The company objectives
to reach the international marketing community. It is professionalised skills. If marketing
professional perform their jobs appropriately, they can launch their company to the next level. It
is a part of marketing which finds out what users want and analysis whether they can make it at
the right cost. Then they can produce and sell it. Global marketing was majorly the domain of
multinational corporation. Since the emergence of the internet and e commerce, even small
company can reach users across the global nation. In order to reach the buyers aboard they will
required to let them know that the brand exist. If possible, they must also get another get others

to sell the goods on the behalf of company. They will also required people that their goods and
services is valuable buying. That is where global marketing comes in. it is essential is
particularly for goods and employment that have world-wide request. Its major aim is to grow
free trade at global level and attempt to bring all the nations together for the aim of trading. To
gain internationalisation by collaborating the economics of various nations. To attain world
peace by making the trade relations among various nations.
Frameworks and theories of global marketing :
The CAGE framework is a quantitive tool that us significant by attraction models. It is
to determine the distance among four captious principle of business. It is an prominent analytical
tool for business that better global marketing. The policy have an impersonal of the huge scale
enlargement of their concern. the CAGE model will provide statement to step up a company’s
perceptive of other target countries. A company must gather important points from the CAGE
framework to create selling scheme and behaviour a more elaborate probe using market survey
data and different types of statistical information.
 Cultural differences - This states to the culture and trends, values and social beliefs it
id also known as the unwritten rules that design the behaviour of individuals and
organization. Various societies also varied in their attitudes towards globalization along
with that market power that have significance consequences in terms of both organised
trade regulations and common behaviour towards how business are run.
 Administrative difference – This factors refers to the difference in past and politics
among nations, particularly those which do not share colonial ties. Also a deficiency o
shared currency, political hostilities and governing corruption support to administrative
distance.
 Geographical difference - This refers to the physical distance among two nations, but
also a country sensual size,whether it shares boundary line with hostile or non assertive
Neighbors and access to business route just as the ocean and another geography purpose.
Any of these magnitude can cause geographical difference and create making business a
issues.
 Economic difference - basic determinants of economic spacing are the cost of labour
and level of users wealth among nations. It is more complex for a company from a
respective country to move in an arranged manner.

Types of global marketing:
It is a part of total business plan. It is the process of adjusting the marketing planning of a
company to develop the needs of capable users in another nation. Moving a new market can
provide a users access to a new users base which can raise company income. This might also
have some other advantages just as reduced labour cost , access to additional resources and the
capability to diversity uncertainty. Here are some types which is listed in below :
 Standardization - It is a strategy or ability to use regular in all factors of the brand.
Using continuos content across the brand can make trust among the users and the
company. Although it can often times price less since, it needs fewer market drive, its
crucial to know when it can be most effective. This requires cosmopolitan appeal
disregard cultural and locational variant. If there are no obstacles in terms if analysing the
goods and services they are selling in all country then a strategy approach can be good for
business.
 Localization – The aim of this scheme is to make an experience for users that makes
them feel like the company personalize it for them. Analysing what interrelates the users
is the most crucial factors in national the policies. This may be the company website,
marketing material and the real goods and services they sell. It is necessary to make users
feel like it is planned and developed in their nation of origin. This makes might
dependable in disregard a sense of national gratification in certain lawsuit.
Pros and cons of Standardization -
It is the strategic products components has many benefits in the context of cost reduction
and the increments of profits gained from sales but also the beneficial outcome from the global
goods submission. It is a assumption of international communication development and the details
transfer raised in order aligned connection with the outcome of technical development and with
main aim of requirements and user attitudes from all over the world.
 The companies which invest and trust in standardization make important economies
regarding the scale production, supply network and marketing publicity strategy. These
advantages are the cost reduction, the global prices diminution, the competitive
decreasing, the integrating of market place and the content of a specific global portfolio.

 This have some disadvantages just as the low insight degree on the market nations with
special demand. Consistent goods might not influence users on certain market and often
unsuccessful to satisfy local rules or goods non-prescription. This strategy of a
producing company might a serious hurdle via decreasing the international affairs.
The condition benefits are very important if the merchandise are modified to the local market's
necessarily and if the enterprises are curious on investing in condition of industrial and user
goods and they apportion fiscal activity for it.
Strategies from an Global marketing .
Big multinational companies uses strategies while expanding business so that work can
be done smoothly. Some of the strategies are listed in below :
 International - company pursuing an international strategy are either concerned
regarding costs or implementing to the local cultural conditions. They attempt to sell
their their goods and services globally with some to almost no changes. In this kind of
strategy company move to the new market place. It do not have any drawback this is
why many companies use this approach to start with before moving to one of the
another three policies.
 Global – A firm using this scheme responsiveness to local needs within each of its
markets in favour of commiserative lower values and improved efficiency. This policy is
the total opposite of a multi internal strategy. Some insignificant changes to produce
products and services might be created in different markets but a global strategy force the
necessitate to add low prices and social science of scale by serving essentially the
similar goods and services in all markets.
 Transnational - a company using a transnational scheme which seeks a mid ground
among a multi domestic planning and a global planning. Just a company practices to
manage the wants for efficiency with the requirements to balance to local prefrences
within various nations. Just as, large fast food chain mc donald and KFC depends on
the similar brand names and the same core menu items around the globe. These
companies make some concessions to regional tastes too.
 Multi domestic - a company uses this strategy do not focus on cost or efficiency but
emphasis responsiveness to regional needs within all of its markets. Either than practising
to force all of its local goods to consume but not reducing the cost. This kind of strategy

focus on growing local goods and its quality. Industry that implements this kind of
approach change their goods and move towards the market and customer support.
This approach focus on standardization as much as possible, considering scalable processes no
matter which British market they operate in. that means having one company , one suite of
goods and one content from a culture.
CONCLUSION
It is concluded from above report that global markets understanding every region might
be a daunting mask. It is essential to keep an open mind when rising a marketing planning.
Whether they choose to utilise a standardization, international and multinational approach, it is
important to make sure that the company team is adaptable and interested to change directions.
Setting their own global marketing planning throughout the course of business expansion is
important when making a campaign so with a willingness to accept change they can earn their
place across the globe. As been discuss in above report about international marketing and its
positive factors. After that it will explain about the global marketing and its kinds and its theories
. in last it will explain its advantages and disadvantages.

REFERENCES
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