3) What are the dimensions of global marketing strategy (GMS) that pertain to marketing management?

3) GMS has three dimensions that pertain to marketing management. First, “concentration of marketing activities” such as promotional campaigns or pricing decisions is performed in one or a few country locations. The second, “coordination of marketing activities,” refers to the extent to which marketing activities related to the marketing mix are planned and executed interdependently around the globe. Finally, “integration of competitive moves” is the extent to which a firm’s competitive marketing tactics in different parts of the world are interdependent. In essence, GMS should enhance the firm’s performance on a worldwide basis. More test answers on https://studyhippo.com/global-marketing-test-1-case-studies/

Levi’s advertising campaign, “Go Forth,” uses a poem “The Laughing Heart,” written by the late Charles Bukowski. This commercial is used worldwide and it runs in 19 languages including French, German, Japanese, and Spanish. According to the information given in this case, which of the following marketing strategies is being used by Levi’s? a. Multidomestic marketing strategy b. Vertically integrated marketing strategy c. Global marketing strategy d. Societal marketing strategy

c. Global marketing strategy More test answers on https://studyhippo.com/practice-exam-2-chapters-6-8-13/

McDonald’s global marketing strategy is based primarily on local marketing mix elements.

FALSE- it is based on a combo of global and local marketing mix elements More test answers on https://studyhippo.com/global-marketing-test-1-chapters-1-3/

The global marketing strategy based on a standard platform combined with some modification for the market is called: A. Global B. Glocal C. International D. Multinational E. Galactic

B. Glocal More test answers on https://studyhippo.com/quiz-1-5-marketing-strategy-marketing-research/

Highlight the similarities and differences between a domestic marketing strategy and a global marketing strategy.

The essence of a global marketing strategy is no different from that of a domestic strategy. The firm starts by identifying its target markets, chooses specific markets to pursue, and crafts a strategy to meet the needs of those markets. However, additional issues make global expansion more difficult. For instance, should the product or service be altered to fit the new market better? Does the firm need to change the way it prices its products in different countries? What is the best way to get the product or service to the new customers? How should the firm communicate its product or service offering in other countries? More test answers on https://studyhippo.com/marketing-instructor-question-chptr-78/

A global marketing strategy refers to

the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ More test answers on https://studyhippo.com/mgmt-250-chpater-7/

4) Why is it important for a firm to have global marketing strategy?

4) A firm’s global marketing strategy (GMS) can enhance its worldwide performance. The GMS addresses severalissues. First is the nature of the marketing program in terms of the balance between a standardized (extension)approach to the marketing mix elements and a localized (adaptation) approach that is responsive to country or regional differences. Second is the concentration of marketing activities in a few countries or the dispersal of such activities across many countries. Companies that engage in global marketing can also engage in coordination of marketing activities. Finally, a firm’s GMS addresses the issue of global market participation. More test answers on https://studyhippo.com/global-marketing-test-1-case-studies/

The strategic alliance between Coca Cola and Nestle has spanned a period of over 20 years due to the fact that both companies benefit from this arrangement. As a global marketing strategy, an important characteristic of a strategic alliance is _____________. the complete immersion of employees assigned to the alliance, eventually forming a separate company separation of company policies, procedures, and production, but unified financial accountability it must be a long-term venture of 10 or more years participant companies do not share costs or profits

participant companies do not share costs or profits More test answers on https://studyhippo.com/business-101-test-answers/

A company’s global marketing strategy (GMS) is a crucial competitive tool. Describe some of the global marketing strategies available to companies. Give examples of companies that use the different strategies.

Strategies include: 1.Global branding: (Coca-Cola, Marlboro) 2.Product design :(McDonald’s restaurants and menu items) 3.Positioning: (Harley-Davidson) 4.Packaging: (Gillette Sensor) 5.Distribution: (Benetton) 6.Customer service: (Caterpillar) 7.Sourcing: (Toyota, Gap). More test answers on https://studyhippo.com/ch-1-intro-to-global-marketing/

o Global Marketing Strategy:

the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ. This approach benefits marketers by allowing them to realize economies of scale from their production and marketing activities. • Caterpillar and Komatsu More test answers on https://studyhippo.com/mkt-291-miami-university/

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Global Marketing Strategy Flashcards, test questions and answers

Discover flashcards, test exam answers, and assignments to help you learn more about Global Marketing Strategy and other subjects. Don’t miss the chance to use them for more effective college education. Use our database of questions and answers on Global Marketing Strategy and get quick solutions for your test.

What is Global Marketing Strategy?

Global marketing strategy is a comprehensive plan for reaching global customers, enabling companies to expand their business and reach new markets. It is the process of planning, creating, positioning, and promoting products or services in different countries around the world. Global marketing strategies must be tailored to specific international markets due to differences in language, culture, customs, laws and regulations from country to country.The first step in developing a successful global marketing strategy is market research. Companies need to conduct thorough research on existing and potential target markets before embarking on any kind of international expansion. This will provide valuable information about local consumer needs, preferences and trends that can inform product design as well as pricing decisions. Companies also need to consider competition levels both within each local market as well as across regions so they can differentiate their offering accordingly.Once the company has identified suitable target countries they should then assess how best to enter those markets via export or direct investment? Exporting involves sending goods abroad at a price determined by the company’s domestic costs; whereas direct investment involves setting up operations locally such as production facilities or sales offices which gives them more control over their presence in foreign countries but requires significant capital investments upfront. From there companies need to develop an appropriate portfolio of products/services taking into account regional differences (e.g., size/packaging), while still leveraging core brand values globally (e.g., visual identity).

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