International Marketing: Global vs. Local Debate and Marketing Mix in International Contexts

This presentation discusses the key arguments in the global vs. local debate in international marketing and explores how the marketing mix differs in various international contexts. It also examines the circumstances for organizations to adopt a local or global approach and provides a critical evaluation of the application of marketing mix. The presentation includes references to support the content.

INTERNATIONAL
MARKETING

Table of Content
● Overview of the key arguments in global vs. loc
al debate
● How marketing mix differs in variety of internat
ional contexts
● The context and circumstances in which organiz
ation should adopt a local or global approach
● how to adapt marketing mix of selected compan
y within the same industry
● Critical evaluation of application of marketing
mix

Global vs. Local debate

Marketing mix in international contexts
The elements of marketing mix such as price, promotion, product, place,
people, process and physical evidences totally depends on the external en
vironmental factors such as political, social, technological, legal factors,
etc. the marketing mix that has been decided by the Corinthian Hotel in o
ne country may differ from the marketing mix of the other country.
Prices may differ due to the economical factors while products and servic
es may vary due to the social factors. Promotional policies are decide acc
ording to the political factors whereas placement is done according to the
environmental and social factors of the external environment.

Circumstances for the organization to adopt local or
global approach
A business establishment depends on clients or consumers that aid to develop th
e enterprise in impressive manner. Corinthian Hotel adapts local and global appr
oach with the objective of moving its business across the world. It assists to man
age the productiveness and lucrativeness by concentrating on both the approach
es. For instance, in Global aspect, there is always a necessity to form marketing
strategy as well as huge investment in order to conduct a business independently
where as in local, there is no need to make high investment and deep research to
provide the services. It also need to follow foreign trade policies that can impact
negatively on business.

Marketing Mix
Traditional marketing approach: Traditional marketing approaches related to
the advertisement and promotional strategies can be utilized by the business org
anizations for providing better results. Corinthian hotel uses this traditional mar
keting mix approach to decide the price, place and people of the business offerin
gs. It trains the staff with traditional and cultural manner and placement policies
are decided accordingly.
Modern Marketing approach: This approach of marketing suggests the utiliza
tion of latest technology and methods in the planning and deciding strategies for
marketing. The selected organization use modern approach in balancing product
s/services, process, promotion and physical evidence with the help of modern te
chnology. It uses online marketing and automation procedures within the premis
es.

Critical evaluation of application of marketing mix
Traditional approaches of marketing are helping in management of the business
from decades and are still efficient and effective up to a certain level. Utilization
of traditional approaches in marketing mix provide the reach to huge customers
and clients but these approaches get ineffective when manual work cause variou
s mistakes and errors.
On the other side, modern approaches are cost effective and reduce the chances
of errors and promote the business on international level by enhancing the qualit
y of the products and services but modern approaches have increased the depen
dency on the technology so much and there is now no place for the human relati
ons and emotional factors.

CONCLUSION
While expanding to a particular market and getting success marketing mix is ap
plied. Marketing mix which helps in attaining all the business goals and objectiv
es will be termed as best suitable for the organisation.

REFERNCES
Akaka, M. A., Vargo, S. L. and Lusch, R. F., 2013. The complexity of context: A
service ecosystems approach for international marketing. Journal of Marke
ting Research. 21(4). pp.1-20.
Berthon, P. R. and et. al., 2012. Marketing meets Web 2.0, social media, and cre
ative consumers: Implications for international marketing strategy. Busines
s horizons. 55(3). pp.261-271.