WK 1 DB 2

Prior to beginning to work on this discussion, read Chapter 1: Introduction to Global Marketing. Make sure that you have a good grasp of the following key terms and theories  which will be titled sections within your week 6 final marketing plan and can be used in both this DQ and your final paper:

· global marketing

· marketing mix

· competitive advantage

· product/market expansion framework

· sustainability

· driving forces affecting global marketing

· restraining forces affecting global marketing

There is a saying in the business world that “nothing fails like success.” Take Gap, for example. How can a fashion retailer that was once the source for wardrobe staples such as chinos and white t-shirts suddenly lose its marketing edge? Motorola also fell victim to its own success. The company’s Razr cell phone was a huge hit, but Motorola struggled to leverage that success. Google acquired Motorola Mobility but then sold it to Lenovo in 2014. Also, Starbucks former CEO Howard Shultz warned that his company and brand risked becoming commoditized. And, as noted in Case 1-3 of the textbook, some industry observers say that Apple “lost its cool” (Green & Keegan, 2020, p.29).

For your initial post,

· Pick from one of the six companies named above. From a global marketing standpoint, use all the six terms or theories listed above to explain your analysis of their global marketing failure or decline. Throughout your initial post, bold and underline each of the six terms and theories you use to make them easy to identify.

· Assume you were consulted as the global marketing expert to make recommendations to management of that company. Analyze your top two recommendations.

Your initial discussion post should be 250 words. Do not forget to cite your textbook and any other sources used to support your ideas, including visual sources. You may refer to University of Arizona Global Campus Writing Center’s  APA StyleLinks to an external site.  resource for assistance.

Guided Response: Review several of your peers’ posts. Respond to at least two of your fellow students’ posts in a substantive manner, and provide information or concepts that they may not have considered. Each peer response should have a minimum of 100 words. Support your position using information from the week’s readings.

You are encouraged to post your required replies earlier in the week to promote more meaningful and interactive discourse in this discussion forum. Continue to monitor the discussion forum until Day 7, and respond with robust dialogue to anyone who replies to your initial post.

Reply

Required Resources

Text

Green, M. C., & Keegan, W. J. (2020).  Global marketing  (10th ed.) . Pearson.

· Chapter 1: Introduction to Global Marketing

· Chapter 2: The Global Economic Environment

· Chapter 3: The Global Trade Environment

· The full-text version of this ebook is available in your online classroom through the VitalSource Platform. This book is a comprehensive text on “global marketing and the major dimensions of the global business environment, while considering the questions, concerns and crises facing global markets. The text's environmental and strategic approach help you understand the Global Marketing environment” (Green & Keegan, n.d., para 1). Chapter 1 discusses how companies in global industries pursue competitive advantage, in addition to comparing a single-country marketing strategy with a global marketing strategy (GMS). This chapter will also help you identify the companies at the top of the Global 500 rankings and discuss the driving and restraining forces affecting global integration today (Green & Keegan, 2020.). Chapter 2 discusses the significance of balance of payments statistics for the world’s major economies. This chapter also identifies major changes in the world economy that have occurred during the past 100 years, identifies world leaders in merchandise and services trade, and explains how currency exchange rates impact a company’s opportunities in different parts of the world (Green & Keegan, 2020). Chapter 3 discusses the role of the World Trade Organization in facilitating global trade relations among nations. In addition, it identifies the four main preferential trade agreements in Latin America and the key members of each, and looks at the various forms of economic integration in Europe (Green & Keegan, 2020.) . Chapter 1 will assist you in your Global Marketing Big Picture discussion forum, and Chapter 1, 2, and 3 will assist in your Global Marketing Trade Environments assignment this week.

Article

Fleishman, H. (2015, July 29).  13 businesses with brilliant global marketing strategiesLinks to an external site. .  Blogspot. https://blog.hubspot.com/marketing/global-marketing-and-international-business

· This blog post provides information about businesses with global marketing strategies and will assist you in your Pick a Company That Represents You discussion forum this week. Accessibility Statement does not exist. Privacy PolicyLinks to an external site.

Multimedia

Marketing Business Network. (2019, March 3).  What is global marketing? Links to an external site.  [Video]. YouTube. https://youtu.be/e6hqkKPvjtk

· This video “provides information on how “global marketing involves planning, producing, placing, and promoting a business' products or services in the worldwide market” (Marketing Business Network, 2019, para1). This will assist you in your Post Your Introduction discussion forum this week. This video has closed captioning and a transcript.. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

https://www.youtube.com/watch?v=e6hqkKPvjtk

      Week 1 Lecture

Global marketing is a term often heard in the workforce. Today companies need to be able to market their products/services not only on a local level but also internationally. This first week we will dive into looking at global marketing and the environment and trade environments.  Let’s start by first defining what marketing is. According to Keegan and Green (2020), “marketing can be defined as the activity, set of institutions, and the processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large” (sec 1.1). Now if we expand on this definition and look at what global marketing is, we would find that “global marketing is the act of focusing a product on the needs of potential buyers in other countries (Fleishman, 2019, para 3). One way of identifying global marketing is that “typically, a global marketing strategy requires a business to do new market research, identify countries where the business's product might be successful, and then localize the brand to reflect the needs of those communities” (2019, para 3). Let’s expand on global marketing strategy (GMS). According to Keegan and Green (2020) there are two ways a company can address GMS. The first is in a single country marketing where the strategy targets two areas; choosing a target market and developing a marketing mix. The other strategy would be entirely focused on global marketing strategy in which the company has operations in major world markets (2020).  See Table 1-3 in our textbook for an example of the strategies for both the single country and the global marketing strategy.

Below is a video that explains more on what Global Marketing consists of:

What is Global Marketing?Links to an external site.

The second area we are focused on this week is the global economic environment. As you might imagine the economy plays a major role in marketing, especially on a global scale. According to  Rique and Sumeet Links to an external site.  (2019), “international marketing environment consists of global forces, such as economic, social, cultural, legal, and geographical and ecological forces, that affect international marketing decisions” (para 2). An interesting factor to consider when looking at the global economic environment is that it can be identified by three areas: global factors, domestic factors and organizational factors (2019). According to Rique and Sumeet the “global factors are the international uncontrollable environments. The domestic factors would include domestic uncontrollable environment and the organizational factors are the internal marketing environment” (2019, para 4).  Since we are focused on economic marketing environment it is important to understand both microeconomics and macroeconomics. “microeconomics solely focuses on  marketing environmental forces that determine the level of price, supply and demand in an economy” (2019, para 7).  Macroeconomics would be the “study of whole economy which includes the study of complete industry, not just of a specific company. This involves the phenomenon such as Gross National Product (GDP) and how changes in the economical factors such as national income, unemployment, growth rate and level of price affects it” (2019, para 8).

The third and last area we are focused on this first week is global marketing and trade environments. According to  Ortiz-Ospina, Beltekian & Roser (2018), “over the last two centuries trade has grown remarkably, completely transforming the global economy. Today about one fourth of the total global production is exported. Understanding this transformative process is important because trade has generated gains, but it has also had important distributional consequences” (para 2). Understanding the impact global trade has on economies it is understandable why global marketing would be essential. According to Conzalez Laya and Draper (2017), there are five core values that create a foundation for global trade to build on; “1. Growth and development,  2. Bottom line for consumers, 3. Bottom line for business, 4. How do you like them apples? And 5. Power in numbers” (para 4-15). It should be noted that number four is focused on “a world with no or minimal international guidelines for the standards countries use for public health and safety would be chaos for exporters and importers” (2017, para 13). 

 

References

Fleishman, H. (2019).  1 3 businesses with brilliant global marketing strategiesLinks to an external site. . https://blog.hubspot.com/marketing/global-marketing-and-international-business

Gonzalez, L. A., & Draper, P. (2017, July 5).  5 reasons not to give up on global trade Links to an external site. . https://www.weforum.org/agenda/2017/07/global-trade-can-be-inclusive/

Green, M. C., & Keegan, W. J. (2020). Global marketing (10th ed.). Pearson.

MBN Video Dictionary. (2019, March 3).  What is global marketingLinks to an external site.  [Video]. YouTube. https://youtu.be/e6hqkKPvjtk

Ortiz-Ospina, E., Beltekian, D., & Roser, M. (2018).  Trade and globalizationLinks to an external site. . https://ourworldindata.org/trade-and-globalization

Rique & Sumeet. (2019, Feb 9).  International marketing environment Links to an external site. . https://globalmarketingprofessor.com/international-marketing-environment/