Global marketing management Essay Example | Topics and Well Written Essays - 1250 words

Global marketing management - Essay Example Marketers take in to account various strategies that they feel better and effective to achieve sustainable competitive advantage in today’s competitive markets. Maintaining stronger relationship with consumers is undoubtedly a very effective marketing tactic that can certainly help a firm stay stronger for quite a long term in the market. I would suggest my friend to think about relationship marketing and he therefore needs to treat his customers always welcomed to the business and to maintain friendly relationship. Consumers are to be treated as business partners both inside and outside the firm. Relationship marketing begins with identifying and understanding the needs and wants of customers and recognizing how to satisfy their requirements and preferences (Cravens, 2002, p. 205). In order to stay very relevant and to compete with new small strips and Wal-Mart stores in the area, it is critically important that he should build stronger partner-relation with consumers by taki ng in to account the following strategic steps. Make relationship marketing and customer-contact as an important part of corporate objective of the business. Train employees and all other service-providers about how effectively and friendly they need to treat customers. Keep constantly contacting customers for better services, before as well as after sales services, customers’ feedback and analyzing the words-of-mouth from the customers. Ensure that the goods and services meet their preferences by maintaining on-going quality improvement and quality management systems, and Evaluate how potential customers think about the company in relation to the competitors with a view to implement newer ideas or strategies to achieve competitive advantages. Answer- 2 For international marketing, firms are using different types of cooperative relationships such as strategic alliance, licensing, joint ventures, R&D partnering etc. Strategic alliance is a coalition between two or more firms w ith a view to achieve strategically significant goals that are beneficial to both or all the companies partnered in alliance (Kotabe and Helsen, 2008, p.305). Strategic alliance at international level is typically a collaborative arrangement between two or more firms working across borders. In simple words, cross border alliance is a strategic alliance arrangement between firms across borders (Johansson, 2009, p. 163). Cross border alliance is based on sharing of vital information, business ideas, assets, technology and managerial functioning between partner firms. Cross border alliance can be formed in different structures. It can either be based on a simple licensing agreement or it may consist of quite rigid ties between them. High tech companies often come in alliance with others based on technology swaps. Kotabe and Helsen (2008, p. 306) described the logic behind cross border alliance to explain why companies while going global enter in to alliance with other companies with th eir core businesses. With such alliance, companies want to create a defensive position so that the firm will be able to maintain the leadership position by learning newer skills, access to new markets and by developing new technologies. With cross border alliance, the marketer wants to catch up new marketing domains, or to remain simply in the business or to restructure the market with help of others’ marketing ideas and strategies. Answer- 3 Direct marketing has emerged to be a very successful marketing strategy as many world class companies like Dell and small scale businesses across the world have achieved greater success and unique marketing stance by going directly to the customers. Segmentation is a key marketing dimension that a marketer can set strategic framework to identify the right customers of a company to design and develop products or services to ensure that their specific as well as common preferences are met