Global Marketing and B2B Marketing.
The development of technology has increased the rate of global marketing around the world. Global marketing entails the sale of a company’s products in international markets. Hence, it illustrates an organization’s effort to implement the principles learned from its domestic marketing to generating an assimilated global marketing strategy. Before joining global marketing, organizations should consider their company influence, industry influences, and market influences. Under the company’s influence, the organization should consider its growth strategy, i.e., increasing sales, improving margins, consolidation, acquisition, and diversification. The top administration should also consider whether the company’s products, brands, skills, experience, and technology are transferable. The must decide whether or not the company is ready to deal with the challenges and complexities of managing various businesses, product lines, and intentional logistics issues.
Under industrial influences, the company’s competitive advantage should be considered. The competitive analysis should entail high-level and local market analysis. The nature of clients’ demand for products in any international industry is based on various dimensions, i.e. by country, and product features. The top administration should hence consider the industrial influences before joining global marketing. The market influences illustrates client preferences are the main component to consider while joining international markets. Clients’ choices tend to change among various countries; hence organizations should evaluate them before joining global markets. An effective global marketing strategy should incorporate a deep understanding of the local customs to ensure that the program does not oppose their beliefs. Organizations should conduct the above practices before joining global markets.
Business to business transactions entails the marketing of an organization’s products/services to other businesses. For instance, the transaction between a wholesaler and a retailer. To promote effective B2B marketing process, the B2B marketers must consider some strategic decisions, i.e., market selection, pricing, distribution, and communications. Market selection entails the organization’s decisions on how its products will serve specific target markets. In the pricing decision, the B2B marketers consider how the product will be used. Most of the organizations are willing to pay more for quality products as compared to low-quality products. B2B marketers also consider the distribution channel to be used while transporting their products. Most business marketers prefer to use direct sales personnel, distributors, and manufacturers’ agents. Strategic decisions are hence needed while selecting the best distribution channel. Lastly, the strategic decision relevant to the B2B marketers is the communication channel to be used while communicating with other organizations. The most common communication methods used are direct mails, email campaigns, and trade journals.
In summation, all organizations should observe the above practices while joining global markets. The increase in technology has promoted the global market; hence organizations should increase their markets globally. It will lead to the development of organizations. B2B marketers should also consider the above strategic decisions before creating a business to business relationship.