As the face of business changes through more companies competing on a global scale, so does the way products (tangible goods) and services (intangible goods) are presented to the customer. A global marketing strategy aims to standardize some elements of a marketing mix, while customizing others.
Some define marketing as the key functional area for generating revenue within a company. Others define it as being responsible for advertising and creating new products and/or services. Some have even confused public relations with marketing. These two are separate functions within any organization.
As companies like Enfatico knows, products are developed that not only satisfy customer needs, but these products also enhance the quality of life. Marketing also helps to create a competitive environment that helps to lower the price of products. The distribution systems are in place to provide access to those products to a large number of customers spread across different geographic regions. As demand for the products increase, so does the need to hire additional labor.
This provides jobs within society where individuals can provide for their families. Marketing can also be used as a tool to convey positive messages that can affect change in societal behavior (i.e. anti-smoking or drunk driving campaigns). There are significant benefits for society through effective marketing efforts, and with this also comes responsibility to adhere to ethics.
The goal of creating successful relationships with customers presents challenges for marketing professionals because they have to factor in the competition. How can they make their product and/or service be the customer’s first and only choice? There are many decisions which must be made and strategies developed to identify and reach target markets. These are markets which have been identified as having needs that marketing efforts address.
This makes it hard to distinguish between unethical and ethical practices, especially when some practices differ among culture and industries.
This requires that companies invest in global market research before launching the production of a new product. Collecting information about customer needs and wants require tailored questions which consider the both local government and the people. And, people who live in the countries should be the ones to administer the questionnaire.
People are more likely to give honest responses to someone with whom they feel comfortable. Choosing the right advertising agency requires selecting one that is familiar with the market your business is trying to reach. Enfatico is a global marketing agency that companies can use rather than using a decentralized approach and hiring local agencies that lead to an uncoordinated approach.