Today we live in a global economy in which the time taken for people to move between continents has been significantly reduced and in which Internet and other connections make instant connections possible.
Global marketing is particularly important for products that have universal demand, such as food and automobiles. Depending on the product, customers can be reached nearly anywhere in the world. In order to do so, global companies may rely on local distribution networks; but as they grow in particular markets, they may establish their own networks. Companies attempting to enter new markets tend to start with heavily populated urban centers, before moving out to surrounding regions.
Key aspects of global strategy include in my view :
1. Consider the global market as the domestic market.
2. Creating a global marketing mix, which at the same time recognizes regional , cultural national differences.
3. Forge out global production and distribution systems.
4. Concentrating on powerful and big brands – the most successful brands and products. As the global market is so large that there are substantial benefits to be gained from economies of large scale production, marketing and distribution.