Marketing Strategy and Plan: Global Market Challenges and Strategies

This report focuses on the challenges faced by global marketing leaders in today's interconnected world. It identifies the primary challenge as the implementation of comprehensive technology, particularly in accessing digital platforms and connecting with a globally integrated customer base. The report then proposes a strategy to mitigate these challenges, suggesting the integration of artificial intelligence with social media. This approach aims to automate marketing efforts, improve product promotion, and keep global customers informed, ultimately fostering a more integrated customer base. The report references key academic sources to support its claims, providing a foundation for understanding and addressing the complexities of international business and marketing strategies.

Running head: MARKETING STRATEGY AND PLAN
Marketing Strategy and Plan
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MARKETING STRATEGY AND PLAN
Table of Contents
Challenges facing global marketing leaders:.............................................................................3
Strategy to mitigate challenges:.................................................................................................3
References:.................................................................................................................................4
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MARKETING STRATEGY AND PLAN
Challenges facing global marketing leaders:
With the rapid development of globalisation, the need of running business by
breaking the potential regional barrier is increasing in a rapid manner. However, the
marketers of the multinational firms are facing major issues in the way of marketing the
products amidst the regional barrier. Implementation of comprehensive technology is the
biggest challenges, faced by the global marketing leaders in the contemporary times
(Hamilton & Webster, 2018). Due to the operation of different countries around the world,
the companies are facing challenges in the way of accessing a comprehensive digital
platform.
This is creating major obstacles for the market leaders to develop mobile application,
ensuring mobile payment and providing the customers with effective in-store digital
experiences. At the same time, getting globally connected customers is another impending
challenge, faced by the global market leaders in the contemporary times. Researchers have
showed that there are more than 80% global market leaders who are struggling with getting
integrated base of customers (Teagarden, Von Glinow & Mellahi, 2018).
Strategy to mitigate challenges:
As running business globally is one of the major aspects of attaining long term
success from business. Thus, it is the prime responsibility of the global market leaders to
implement proactive strategy in order to mitigate the challenge, they are facing in the
contemporary times. Alignment of artificial intelligence with social media is the most
effective strategy, which the contemporary market leaders can employ (Picciotto & Mayne,
2016). This will help them to promote their products and services properly by making the
entire marketing effort automatic. At the same time, through social media, the global market
leaders can also be able to keep the global customers informed regarding their products and
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MARKETING STRATEGY AND PLAN
services, which is the key of getting integrated base of customers (Cravino & Levchenko,
2017).
References:
Cravino, J., & Levchenko, A. A. (2017). Multinational firms and international business cycle
transmission. The Quarterly Journal of Economics, 132(2), 921-962.
Hamilton, L., & Webster, P. (2018). The international business environment. Oxford
University Press.
Picciotto, S., & Mayne, R. (Eds.). (2016). Regulating international business: beyond
liberalization. Springer.
Teagarden, M. B., Von Glinow, M. A., & Mellahi, K. (2018). Contextualizing international
business research: Enhancing rigor and relevance. Journal of World Business, 53(3),
303-306.
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