Product and Brand Management

Planning the Global Marketing Strategy

by | May 31, 2022

As businesses expand into international markets, developing a comprehensive global marketing strategy becomes crucial to success. However, creating a global marketing strategy is not just about adapting existing marketing strategies to fit new markets. Instead, it requires businesses to consider the cultural, economic, and political differences of each market they enter. In this blog, we will explore the key elements of a successful global marketing strategy and provide tips for planning one.

Understanding the Global Market

Before developing a global marketing strategy, it is important to understand the global market. This involves researching potential markets, identifying key competitors, and assessing market trends. Additionally, it is essential to consider cultural, economic, and political differences between markets. This knowledge will enable businesses to tailor their marketing strategies to meet the specific needs of each market.

Creating a Consistent Brand Image

Creating a consistent brand image across international markets is crucial to developing a strong global marketing strategy. This involves developing a brand identity that resonates with consumers in each market. To achieve this, businesses must conduct market research to identify the unique needs and preferences of consumers in each market.

Adapting Marketing Strategies

While creating a consistent brand image is essential, it is also important to adapt marketing strategies to fit each market. This involves tailoring marketing campaigns to meet the specific needs of consumers in each market. For example, advertising campaigns may need to be translated into different languages, and product packaging may need to be adapted to fit local customs and preferences.

Building Strong Partnerships

Building strong partnerships with local businesses and organizations is another key element of a successful global marketing strategy. This involves identifying potential partners in each market and developing relationships with them. By working with local partners, businesses can gain valuable insights into local markets and build a strong network of contacts.

Leveraging Technology

Technology plays a crucial role in developing and implementing a successful global marketing strategy. This includes using social media, email marketing, and other digital marketing tools to reach consumers in different markets. Additionally, businesses can use technology to collect data on consumer preferences and behavior, which can be used to tailor marketing strategies.

Conclusion

Developing a successful global marketing strategy requires businesses to consider a wide range of factors, including cultural, economic, and political differences. By researching potential markets, creating a consistent brand image, adapting marketing strategies, building strong partnerships, and leveraging technology, businesses can create effective marketing campaigns that resonate with consumers in each market they enter.

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Product and Brand Management

1 Product Management Basic Concepts

  1. Product Management – Meaning and Scope
  2. Product Management: An Overview
  3. What is a Product?
  4. Product Classification, Differentiation
  5. Product and Brand Relationships, Product and Brand Systems
  6. Product Planning
  7. Role and Responsibilities of a Product Manager

2 Product Life Cycle (PLC)

  1. Product Life cycles Implications of Product life cycle
  2. Product Life Cycle (PLC) an aid to Product Planning
  3. Operationalising the Product Life Cycle
  4. Product Life Cycle as a Guideline for Marketing Strategy
  5. Product Life Cycle as a Guideline for framing Market Share Strategy
  6. Summary of PLC Objectives, Characteristics and Strategies
  7. Evidence and Critique for the Life Cycle Concept
  8. The Diffusion of Innovation Theory – A Parallel theory

3 Product Line Decisions

  1. Product Line Analysis
  2. Product Line Extension
  3. The Disadvantages of Line Extension
  4. Factors Influencing Product Line Decisions
  5. Category Factors Influencing Product Line Decisions

4 Product Portfolio

  1. The Portfolio Concept
  2. The Logic of Portfolio Approach
  3. Types of Display Matrices
  4. The BCG Growth-Share Matrix
  5. GE’s Strategic Business Planning Grid
  6. Shell’s Directional Policy Matrix
  7. PIMS Model
  8. Arthur D Little Co. Matrix Model
  9. Hofer’s Market Evolution
  10. Utility of Display Matrices

5 Organizing for New Product Development

  1. Setting Responsibility for New Product Development
  2. Structural Units for New Product Development
  3. Function of the New Product Development Units

6 Generation, Screening and Development of New Product Ideas

  1. Innovation and the New Product Development Process
  2. Generation of New Product Ideas
  3. Sources of New Product Ideas
  4. Methods of Generating New Product Ideas
  5. Screening of New Product Ideas
  6. Criteria for Screening New Product Ideas
  7. Development of New Product Ideas

7 Concept Development Testing and Physical Development of the Product

  1. Introduction to Concept Development
  2. New Product Development
  3. Business plan: A tool to fetch financial assistance for new product development program

8 New Product Launch

  1. Types of New Products
  2. New Product Launch the Marketing Plan
  3. Defining and Selecting the Target Market
  4. Product Strategy and Positioning
  5. Pricing the New Product
  6. Promotion of the New Product

9 Branding Concepts and Evolution

  1. Branding
  2. Strategic Relevance of Branding
  3. Branding Policy Decisions
  4. Brand Name
  5. Brand Name Selection Process
  6. How to Build a Brand?
  7. Brand Image
  8. Branding of Commodities

10 Brand Equity

  1. The Concept of Brand Equity
  2. Measurements of Brand Equity
  3. Composite Measure of Brand Equity
  4. Customer Based Brand Equity
  5. How Brand Equity is created?
  6. Building Brand Equity

11 Brand Building Blocks: Identify, Image and Positioning

  1. Introduction to Brand Building
  2. Brand Building Blocks

12 Brand Architecture and Brand Extension

  1. Developing a Brand architecture strategy
  2. Brand Architecture guidelines
  3. Brand Portfolios
  4. Rationalizing the Brand Portfolio
  5. Brand Hierarchies
  6. Levels of Brand Hierarchy
  7. Brand Hierarchy Decisions
  8. Corporate Branding
  9. Brand Extensions
  10. Types of Brand Extension
  11. Advantages and Disadvantages of Brand Extension
  12. Launching a Brand Extension

13 Enhancing Brand Equity

  1. Brand foundation-authenticity and believability

14 Managing Brands Over Time and Across Geographies

  1. Expanding to International Markets
  2. Global Marketing: Standardized vs Customized Approach
  3. Planning the Global Marketing Strategy
  4. Factors Impacting Customization
  5. Developing the Global Branding Strategy
  6. Managing Brands Over Time
  7. Levers for Sustaining Brand Value
  8. Augmenting the Brand Offering
  9. The Pricing and Distribution Levers
  10. The Communication Lever

15 Measuring Brand Equity

  1. Measuring Elements of Brand Equity
  2. Frameworks for Brand Equity Measurement
  3. Brand Report Card
  4. Need for Brand Valuation
  5. Methods of Brand Valuation