What is Global and International Marketing?
Marketing is the practice or business of promoting and selling products and services, which comprises market research and branding. Marketing is a broad term that incorporates all strategies that contribute to the attainment of a company’s, brand’s, or individual’s goals and growth. A variety of brands and businesses employ global or international marketing approaches, as part of their expansion goals. Despite the fact that the terms global marketing and international marketing sound remarkably similar. They can both be thought of as two stages of internationalisation or international business operations.
Global marketing refers to all marketing strategies and techniques used to engage the mainstream audience via digital advertising techniques. These strategies are not confined to a specific country or market but are universally deployed to all international markets in pursuit. Simply described, global marketing is the process of executing marketing operations from a company’s headquarters while offering products or services in many countries around the world. Due to the company’s physical exclusion from the prospective global market, extensive market research is required to carry out global marketing.
In such a marketing technique, promotion strategies are used with a global audience in mind, and a single commercial is transmitted worldwide in several regional languages of multiple countries. In global marketing, a business conceptualises a product or service to address the needs of global consumer requirements. Take Apple for example; the company maintains a consistent look and feature set across all its handsets while marketing to consumers in multiple countries.
International marketing refers to a company’s direct intervention in the local marketing environment in order to capture prospective markets in different nations. In other words, international marketing is the process of a company expanding outside its native geographical boundaries by establishing subsidiaries in foreign countries’ target markets. Since the company has a real presence in the worldwide market and is able to analyse the market, it demands less research and development. Masters in international business qualifies one for the highest and the most prestigious job opportunities. Reputed institutes like International Institute of Business Studies offers one of the best international business courses like BBA in international business and MBA in international business and boost your employability to land jobs in multilateral organisations.
These subsidiaries develop and implement marketing principles and tactics that are tailored to the specific needs of the target local market. Take, for example, Spotify, which has become one of the most successful businesses. That’s because they don’t just provide listeners with music genres; they also provide music recommendations based on activities like exercise and relaxation. This crosses borders and helps new artists to interact with audiences with whom they might not otherwise have had contact.