Analysing & Targeting Global Market opportunities
TOPIC: ANALYSING & TARGETING GLOBAL MARKET OPPORTUNITIES TO INCLUDE THE FOLLOWING:
Nature of global Customers
Marketing in transitional economies & less developed countries
Global Bias (customer value & value equation)
Global marketing plan.
Global market represents marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives of a company. Tapping and capturing global market opportunities is not a revolutionary shift but an evolutionary process for any company. Usually a company starts operating in the domestic market, creates its customer base, makes an image and thereafter leads to various activities which help it enter the international markets. The activities that enable the company to enter and be an international marketer are exports, franchising, joint venture and full direct entry into another country. Once the company creates a strong base and hold in a few countries it starts targeting the world on continental or economy sized bases. And it gains the title of a global marketer once it starts to cater to almost all countries on the planet. The global firm retains the capability, reach, knowledge, staff, insights and expertise to deliver value to customers worldwide. Various examples of a global marketer are Apple, Intel, Toyota, Procter & Gamble, XL Group and the list goes on.
Tapping a global market opportunity is a very long process. We need to follow the following process:
Market Attractiveness
Market attractiveness is a term that describes the profit possibilities available in a given market or industry. The more attractive the market is, the higher will be the potential profits. The model of using market attractiveness framework helps in answering the following 3 questions:
Determining what factors make a market attractive
How strengths of the underlying product/service can be pinned down
Providing a strategic plan to
Nature of global Customers
Marketing in transitional economies & less developed countries
Global Bias (customer value & value equation)
Global marketing plan.
Global market represents marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives of a company. Tapping and capturing global market opportunities is not a revolutionary shift but an evolutionary process for any company. Usually a company starts operating in the domestic market, creates its customer base, makes an image and thereafter leads to various activities which help it enter the international markets. The activities that enable the company to enter and be an international marketer are exports, franchising, joint venture and full direct entry into another country. Once the company creates a strong base and hold in a few countries it starts targeting the world on continental or economy sized bases. And it gains the title of a global marketer once it starts to cater to almost all countries on the planet. The global firm retains the capability, reach, knowledge, staff, insights and expertise to deliver value to customers worldwide. Various examples of a global marketer are Apple, Intel, Toyota, Procter & Gamble, XL Group and the list goes on.
Tapping a global market opportunity is a very long process. We need to follow the following process:
Market Attractiveness
Market attractiveness is a term that describes the profit possibilities available in a given market or industry. The more attractive the market is, the higher will be the potential profits. The model of using market attractiveness framework helps in answering the following 3 questions:
Determining what factors make a market attractive
How strengths of the underlying product/service can be pinned down
Providing a strategic plan to