The authors of the last blog post talked about optimal international pricing strategies. Companies face many different challenges, outside of culture, language, and government policies, when deciding which strategy to implement. These challenges mainly revolve around currency. Export Price Escalation: Prices are often higher in foreign markets in order to ensure that export costs, such […]
A shift in marketing strategy is taking place before our eyes. As a new generation of consumers is entering the workforce, companies are beginning to adopt new marketing methods. After the internet revolution, businesses can better market their products through multiple avenues all over the world. However, this is both costly and sometimes never reaches […]
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International Pricing
Why is an international pricing strategy essential? According to Dr. Eckhard Kucher, the primary objective of an international pricing strategy is to maximize total profitability across countries, while reducing the opportunity for potential global issues to arise. One such issue is parallel trade, where identical products are sold at significantly different prices in different countries, […]
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How to Build a Global Brand
Why is Global Branding Important? Improved effectiveness in products or services over time Greater advantage against competitors Increased customer awareness Having a brand that is immediately recognizable has many benefits – especially if this is a favorable reputation. Increased revenue and loyal customers are some of the many benefits a firm may experience. Being recognized […]
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Global Branding
What is Global Branding? Global brands are brands that are recognized throughout much of the world. Many companies intend to create global brands through various marketing and branding efforts. This global branding strategy is when a company effectively offers a product or service where the advertising, positioning, strategy, personality, that successfully look and feel are […]
For a universally needed product, you would think the packaging would not make a do or die difference in the success of the product. However, as discussed in class, something as simple as toothpaste can be the source of much corporate controversy. In the case of the Colgate Max Fresh rollout in the early 2000’s, […]
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Business to Business Marketing
Although Business to Business (or B2B) marketing is such an integral part of many company’s success, it often gets overshadowed and overlooked by Business to Consumer marketing which could be seen as more appealing or exciting. This is probably because most people who are learning about this topic are consumers themselves, not businesses. Nevertheless, it […]
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Cross-Cultural Consumer Behavior
Understanding High- and Low-Context Cultures In different parts of the world, there are different native languages spoken. Some of these languages are very concise and clear (low-context) while others rely heavily on context clues in addition to what is being said (high-context). This is an extremely important distinction when doing business globally, because it can […]