Brand expansion at an international level is never complete without global marketing. Every business aspires to go global and in that process, it needs efficient marketers who can win the hearts of local audiences in different countries. Applying international marketing practices helps businesses to stay ahead of their competitors.
Companies are always looking to expand their reach to new countries and this is giving rise to the need for a unified marketing strategy that can reach masses without any borders. The need for global marketers is constantly rising.
What is Global Marketing?
Global marketing is the process of carefully planning and promoting a product or business expansion in the international market. Businesses opting for global marketing often develop multiple profiles each of which caters to the needs of the specific country where it wants to operate. The core advertising strategies remain the same but they are segmented to serve the individual needs of the users in different countries.
Global marketing always revolves around the 4 Ps of the marketing mix that is Product, Price, Place, and Promotion. A global marketer needs to understand and identify the demand for the product in the target country. A correct pricing strategy also needs to be adopted so that the customers must be willing to pay that price. Lastly, the promotion strategies need to be planned thoroughly for increased local impact.
Earlier large companies often had offices in several locations of the world but with the reach of the internet, the need for opening of physical offices is largely reduced. Nowadays, companies open offices in only the major countries and meet the demands of the customers via customer care centers or even chatbots.
What Are The Education Qualifications Needed To Become a Global Marketer?
The qualifications needed to become a global marketer includes a bachelor’s degree in business management, marketing, advertising, journalism or a related field. Some companies even prefer a master’s degree in marketing or management for higher roles.
The opportunities available for an individual having a degree in marketing are huge. As a global marketer, you need to understand the existing strategies and update them so that it matches the demands of the consumers in the targeted country.
Whatever the brand did locally for a particular group of customers in a particular country now needs to be done internationally. The process takes a lot of time and effort.
Having good research, analytical, networking and communication skills are a must for a career in marketing. Besides, having a technical superiority over other candidates can always prove to be advantageous.
Before starting your career in global marketing, many companies demand a working experience in the local market so as to convert into leads into actual sales. Another added qualification that can work in your favor is having knowledge of an international language like Mandarin, Japanese, French, Hindi, Spanish, etc.
How Much Can You Earn?
Experience and skills play a key role in the life of a global marketer. An advertising manager can earn up to $127,560 median salary.
To be more specific, you can earn somewhere around $50,000 – $70,000 annually at the start of your career. When you earn around 2-3 years of experience in your field then your salary increases to anything between $90,000 – $1,20,000 annually. Higher-level managers earn more than $1,20,000 annually (based on data from Payscale).
Responsibilities of A Global Marketing Manager
As an international marketer, you will have the following responsibilities:
- Devising strategies for entering new markets and increasing brand awareness.
- Developing strategies for international marketing plans.
- Educating and guiding other team members so that the project deadlines are met.
- Keeping an eye on the competitors.
- Researching the current market and suggesting the best pricing policies.
- Forecasting changes in the market so that the demand and supply always stay in equilibrium.
- Identifying and developing strategies for every marketing channel.
- Ensuring that optimal leads are generated from the approved marketing budget.
- Ensuring that the ROI on advertising always remains favorable.
- Managing communication at all levels of the company.
- Suggesting marketing strategies that meet the law of the targeted country.
- Managing the legal approval process for a particular city or country.
Companies Who Employ Global Marketing Strategies
Some of the world’s best companies who employ global marketing strategies for its brand expansion are explained below:
Sold by an Austrian company, Red Bull is an energy drink that has the highest share of energy drinks in the world with 6.790 billion cans sold worldwide every year. The drink is sold in more than 167 countries of the world generating an annual revenue of USD 7.391billion. (Source- Wikipedia). The most successful marketing strategy that Red Bull follows is hosting extreme sports events all over the world like the Red Bull Rampage, Red Bull Road Rage, Red Bull Drifting World Championship, etc. The campaign targets young men who are associated with extreme sports like motor race, helicopter flying, mountain biking, and others.
One of the most loved brands for people of all ages, Coca Cola is certainly a master of all brands when it comes to global advertising. The marketing strategy followed by Coca Cola carefully considers the local culture of the people in different countries. The below is an ad that the company created for campaigning in Africa with the slogan “Africa Let’s Go Crazy”:
The company campaigns largely during the holidays and sponsors sports events to reach masses. Coca Cola has revenue of USD 31.86 billion. The below is an image from the Coca Cola Fest which was a Holi event sponsored by Coca Cola in India.
An American company, Dominos is the largest Pizza chain of the world with a revenue of USD 3.483 billion.
The global marketing strategy followed by Dominos is simple. It changes the toppings depending on the liking of the local people. For example, in Asia, people love to eat tikka and curries so the toppings offered to understand the differences in the market. The company even offered a special Navratri Pizza for people in India. Navaratri is a Hindu festival celebrated in the autumn of every year.
Marketing is both an art and a science. This is a career that always stays in demand. Proper working experience and skills acquired influence your role as a global marketer. You know you have succeeded to win the hearts of local audiences as a global business marketer when people start recognizing your company as a local brand. If you are ready to accept the challenge then go ahead and pursue your passion for global marketing.