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Global Communication

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Submitted By farhan102002
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2. Marketing Strategies
The business world is highly influenced by globalization during the last few decades, and now it has caught the heights the human history has never observed in the past. Numbers of local companies are venturing into global markets, and their entrance is fostering an unparalleled competition in terms of global brands, global products, and global advertising. The contemporary challenge of highest gravity is how to accelerate their operations to exploit maximum opportunities in the global markets. The situation has forced the companies to change their marketing strategies; therefore, most of marketers are applying different strategies. Both local and global marketing activities can be optimized by the application of glocal marketing strategies, and up to certain extent multinational companies have to customize their products (Kotler, 2009). Global companies undertook numbers of glocal tactics associated with glocal strategies not only to make their brand global but also to adapt localization for the development of four variables of the marketing mix (product, price, promotion, and distribution) in different parts of the world. This seminar will just focus on the product segment of the marketing mix.
2.1 Global Marketing Strategy
A global marketing strategy promotes a single strategy for a product or service in an entire global marketplace. The strategy is best in case of high pressure in terms of cost reduction and low pressure from local responsiveness (Andersson & Svensson, 2009). The strategy is applied for various countries simultaneously and by successful application, companies can gain and increase a good market share.
In the competition of products, companies based on differentiation marketing strategy such as Apple take substantial advantages because customers generally remember the quality of products. Cost-differentiated strategy

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