Global Marketing Concept Development: Analysis and Application

This report provides an overview of the development of the global marketing concept, highlighting its evolutionary process and its application in various businesses. It discusses how global marketing helps reduce cost inefficiencies and duplication of efforts, emphasizing that it involves the entire process of planning, producing, and placing a company's product into another market. The report uses Hedonism Wines Ltd as a case study, suggesting the company could use global market entry strategies to sustain its brand image and increase profitability by introducing new wine brands in new countries. It also touches on the importance of cost leadership, discounting pricing strategies, and adapting the marketing mix to the target country. The report concludes that global marketing is a wide concept that helps companies like Hedonism Wines sustain their brand image in the global market through various marketing strategies.

Development of the 'global
marketing' concept

Table of Contents
INTRODUCTION...........................................................................................................................1
1. Explaining the development of global marketing concept......................................................1
2. Discussion on development of global marketing concept.......................................................1
3. Example that supports this portfolio entry..............................................................................1
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Development of global marketing is the marketing concept that is taking a commercial
advantages of some global operational differences. The chosen form for this report is Hedonism
Wines Ltd which offered different types of wines to their customers. The report also describe the
concept of development of global marketing and also provide a real life example that supports
portfolio entry.
1. Explaining the development of global marketing concept
Global marketing is the concept of evolutionary process and it is not applied to all the
business to those who are begin as a domestic only companies. The concept of global marketing
is too wide such that it describe the marketing activities which are involved in order to sustain its
brand image in market (De Mooij, 2018).
2. Discussion on development of global marketing concept
According to Kotler and et.al., (2015) development of global marketing concept helps to
reduce the cost inefficiencies and the duplication of efforts between some national and regional
appurtenant.
On the other side Gomes, Sousa and Vendrell-Herrero, ( 2017) stated that it is more than
a simply selling a product internationally rather than including the entire process of planning,
producing and placing company's product into another market.
Gillespie and Riddle (2015) critics that global marketing means that the marketing to
target market and serve their food services to other market so that it will helps to sustain its brand
image in market by increasing the profitability as well.
3. Example that supports this portfolio entry
Hedonism Wines Ltd is the firm that may also uses this global market entry strategy in
order to enter into new country and to sustain its brand image in market. Further, as the product
is offer different variety of wined but it is medium firm, that is why in order to grew at next
level. It is quite necessary for the quoted firm to use this entry method in which the firm use new
brand of wine in new country because it has been realised that a new product will definitely
attract wide range of customers towards it and it also leads to raise the company's profitability as
well.
1

Apart from this, the firm may also faces the high competition from its rivals and to
overcome this, it is also necessary to use cost leadership and discounting pricing strategy in order
to enter into new market. Moreover, by using marketing mix of that country as a global
marketing concept will also helpful to Hedonism Wines Ltd to determine the concept. It has been
analysed that by using modern marketing activities the chances of attracting high range of
customers will be increases and the firm's value can be exported to next country.
CONCLUSION
By summing up above report it has been concluded that global marketing is the wide
concept that helps Hedonism to sustain its brand image in global market. Further report also
concluded that there are variety of marketing strategies which are used by the firm in order to
reach at further level of success. It also presents a real example of quoted firm through which,
study directly relates it to the development of global marketing concept.
2

REFERENCES
Books and Journals
De Mooij, M., 2018. Global marketing and advertising: Understanding cultural paradoxes.
SAGE Publications Limited.
Gillespie, K. and Riddle, L., 2015. Global marketing. Routledge.
Gomes, E., Sousa, C. and Vendrell-Herrero, F., 2017. International marketing
agility. International Marketing Review.
Kotler, P. and et.al., 2015. Marketing. Pearson Higher Education AU.
3