Global Market Research – A Key to Competitive Advantage

Global marketing is described by the Merriam Webster’s Dictionary as „the process of marketing and offering manufactured items over a global market“. It can be used to make reference to the marketing practice through which products are created and bought in different marketplaces for different factors. For example a brand new toothpaste brand is publicized in the US since it has better taste and is preferred by a large percentage of the number. The promoting practice afterward focuses on increasing market share to attain financial goals. Therefore there is absolutely no necessity to promote toothpaste inside the developing countries because in this country there is also a huge with regard to it. The actual cause of this global marketplace is that tooth paste will not be of any use to them and the only goal is to get major filled and save money.

Global marketing can be defined as the integration or perhaps harmonizing of domestic and global marketing practices to attain financial desired goals. This practice has become very important to understand the competitive advantages of virtually any business in the current global market. The concept of global marketing is certainly not fresh; however with the passage of energy it has become more important. With the associated with globalization, the companies include begun to sell their products out of all important markets across the globe including Asia, Europe and Latin America.

The global sales strategies help to gain a competitive advantage over the competitors. Just like marketing in Asia allows the companies to reduce their fixed costs like cost cost and labour price. They also focus on marketing their products in various segments of your market just like high progress markets, reduce middle school, students and so on. By doing so they will attract a large number of buyers right from these segments which will lead to growth within their business. This is one of the major reasons behind global market research for the betterment of any business.

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