International Marketing Essay Example | Topics and Well Written Essays - 1000 words

International Marketing - Essay Example This is the reason why companies take aggressive selling efforts to stiffly compete with other firms offering similar product lines. Territorial and product line expansion are the two major strategies generally employed by firms to enhance sustainable economic growth. Goodwill Rapidly changing modern marketing trends are switching the business focus from profitability to goodwill believing that the market stature would automatically contribute to profit maximisation. According to Kamaruddin, Ibrahim, and Zain (2004), this concept helps firms aim to create an address for their products and attain a dominant position in the market. Modern marketers strongly believe that reputation would greatly assist the firm to survive the intense market competition. Standard of living By offering quality products and services at affordable rates, modern marketers also aim at the improving people’s standard of living which in turn may add value to their firms’ good will. Nowadays, firms include a wide variety of corporate responsibility programmes in their marketing plan so as to improve the living standards of people and hence to achieve customer loyalty. Global marketing is defined as â€Å"marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives† (Strategic: Web Marketing Group, 2010) . Hence, the above identified marketing goals are relevant to global marketing. While dealing with global marketing, the only difference is that a firm operates on a global scale instead of focusing on a niche market. Therefore, the basic goals of marketing remain the same no... This essay focuses on the marketing goals and strategies that can be simply defined as the predetermined statements of desired or anticipated outcomes, which are expected from a firm’s marketing plan. Generally, every firm sets broader goals that represent simple statements of what will be attained within the stipulated period of time. The marketing goal works as a strategic tool to manage the development of objectives and to suggest the direction regarding the decisions on resource allocation. This essay describes the basic goals of marketing and explores two distinct global marketing strategies that are available today for companies. The marketing goals greatly assist a seller to identify potential market segments where people are most likely to express interests in his products or services. Some of the basic goals of marketing are described in the essay by the researcher. Then, the essay describes how every firm chooses and implements a specific global marketing strategy by taking into account a range of factors including its nature, size, and vision. There are mainly two types of global marketing strategies available to companies and analyzed in the essay - multi-domestic strategy and global strategy. Evidently, the process of marketing involves an array of well defined fundamental goals, which assist a seller to plan his day to day operations systematically. These fundamental goals of marketing and multi-domestic approach and global strategies are relevant for today's global marketing.