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Showing posts with the label global marketing

Fishing the Global Market for Higher Returns

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Pools of motivated customers exist in the market and companies that can find them are able to tap their customer pools to create higher returns on marketing investment. Access to new customers rests in market research and treaties that open these markets for revenue generation. Market research allows a company to determine who is most likely interested in their product and where they can find them. A thorough research approach should also include the types of media needed to reach your target market. In the international environment this can take significant time but can improve performance.  Certain customers will be interested in your products/services more than others. Knowing who they are makes the entire sales process easier as they come to the company “hot”. An organizational will then need to know how to reach them and the marketing mediums that have the highest rates of return.  Treaties help ensure that trade can actually be conducted. If there is no

Targeted Marketing or Brand Awareness? Which Works Better Online?

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Online marketing has travelled a long way over the last decade and now supersedes traditional advertising media in the majority of channel categories. The online advertising world is not yet fully developed and will transform over time to include higher capabilities. A paper by Attia (2014), discusses how metrics will need to change to ensure the current click-through model is replaced by more holistic measurements. Successful campaigns have been built by adding brand image to the overall marketing plan. Is targeted marketing or brand management better? Click-Through is the most common method of online advertising but people have become sensitized to the marketing channel. The rate uses a simple formula like Clicks/Impressions X 100 =Click Through Rate (CTR). As more people click on an impression (showing of ad) the rate moves up and is considered effective.     When customers become desensitized to click-through ads, pop up banners, etc. they begin to ignore the display

Developing the Global Marketing Mindset

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Global marketing is a new business necessity as global integration leaves few localities untouched by outside market influence. Developing global managers and moving them into organizations where they are most useful can help in the development of stronger marketing decisions. Research by Moeller and Harvey (2011) highlight the need to develop the “global mindset” among managers and use that mindset to compete on international markets.  Before discussing the benefits of globally oriented managers it is first beneficial to understand what the “global mindset” is. According to Rhinesmith, the global mindset is, “ the ability to scan the world from a broad perspective always looking for unexpected trends and opportunities that may constitute a threat or an opportunity to achieve personal, professional or organizational objectives ” (1993, p. 24). They are able to overview the global environment and understand larger trends and move to specific knowledge adaptation when necessar