Discuss global marketing planning
Discuss alternative marketing entry strategies
Discuss competitive marketing management
Global Marketing Planning:- This system visualizes long-term planning and design by presuming the whole globe as a single market having different tastes, demands, regulations, and different factors of production. It is very similar to the general marketing process. The only difference lies in the quantum of scope and difficulty due to a large number of governments and authorities.
Alternative Marketing entry strategies – When firms helpless in certain situations, enter the market being leveraged, they opt for alternative marketing entry strategies, which is done either by forming an operations alliance or obtaining, financing, or outsourcing the entire management. Some common methods include:
- Exporting either directly (in-house) or indirectly (through an export agent).
- Direct investment (FDI) through a completely owned subsidiary.
- Joint venture (JV) based on an equity investment.
- Strategic agreement (SA) based on an alliance agreement.
- Franchising agreement
- Licensing agreement
- Management agreement (MA)
- Contract manufacturing agreement (CMA)
- Build-operate-transfer (BOT) agreement
- Internet investment
Competitive Marketing Management – This is a strategy to ensure that an organization is being used in a sustainable competitive manner in the market amid rivals. It does not focus on averting from rivalry, but to face rivalry and letting the competition promote growth and development. According to this system of marketing, only competition and unpredictability can lead to growth and inactiveness would lead to loss.