However, the bottle can also include the country’s native language and appear in identical sizes as other beverage bottles or cans in that country’s market.īefore launching promotional programs, global companies must first define their target markets and determine the products that will resonate most with those consumers and businesses. The product packaging in every country incorporates Coca-Cola’s contour bottle design and signature ribbon in some shape or form. The beverage brand uses two formulas (one with sugar and one with corn syrup) for all markets. Coca-Cola is a strong example of this principle. Global Marketing Mix: Product Plus Promotionįor multinational corporations (MNCs), the interplay between product and promotion is important because it can enable a company to make minor adjustments to a single product and its promotion strategy rather than totally revamping the product and promotion for different markets. The four Ps of marketing-product, price, placement, and promotion-are all affected as a company moves through the different phases to become and maintain dominance as a global company. These changes have also prompted brands to customize their global marketing mix for different markets, based on local languages, needs, wants, and values. With this in mind, organizations are modifying their marketing strategies to meet the challenges of the global marketplace while trying to sustain their competitiveness within home markets. With the rapidly growing force of globalization, the distinction between marketing within an organization’s home country and marketing within external markets is disappearing very quickly. The same marketing principles that lead to marketing success in domestic marketing can also apply to global marketing. Product for the Chinese market: An effective global marketing plan enables brands to tweak products for local markets while using the most effective promotional channels to reach consumers.

Key principles of marketing