The Globalization of New Product Development & The Global Marketing Strategy
In a growing number of industries NPD is globalizing. Firms have to serve global markets that are more diverse than ever before. They have to place some of their NPD activities near these new markets. There are also new opportunities to draw on new technological and human resources and to take advantage of global economies of scale. But these new opportunities are accompanied by new risks and new challenges.
Globalization is more than duplicating products or services overseas
Bartlett & Ghoshal Model of International Strategy
The nature of the borderless world
Customers worldwide
Aware of the best products and services
Expect to purchase them with no concern over their national origin
All firms compete in an interlinked world economy
Five “C” for strategic planning
Planning transnational operations
Labor market norms
Host-government policy
Cultural transferability
WHAT IS A GLOBAL MARKETING STRATEGY?
WHY GLOBAL EXPANSION MATTERS?
New revenue opportunities.
Increased brand awareness and reputation
Chance to learn and improve your products
HOW TO MARKET YOUR BUSINESS GLOBALLY?
01
LOOK AT WHERE YOUR CUSTOMERS COME FROM
02
DIFFERENTIATE YOUR OFFERINGS
03
THINK ABOUT BRANDING
04
LOCALIZE YOUR MESSAGING
NPD 3
citlali.calderon
Created on August 18, 2020
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Transcript
The Globalization of New Product Development & The Global Marketing Strategy
In a growing number of industries NPD is globalizing. Firms have to serve global markets that are more diverse than ever before. They have to place some of their NPD activities near these new markets. There are also new opportunities to draw on new technological and human resources and to take advantage of global economies of scale. But these new opportunities are accompanied by new risks and new challenges.
Globalization is more than duplicating products or services overseas
Bartlett & Ghoshal Model of International Strategy
The nature of the borderless world
Customers worldwide Aware of the best products and services Expect to purchase them with no concern over their national origin
All firms compete in an interlinked world economy Five “C” for strategic planning
Planning transnational operations
Labor market norms
Host-government policy
Cultural transferability
WHAT IS A GLOBAL MARKETING STRATEGY?
WHY GLOBAL EXPANSION MATTERS?
New revenue opportunities.
Increased brand awareness and reputation
Chance to learn and improve your products
HOW TO MARKET YOUR BUSINESS GLOBALLY?
01
LOOK AT WHERE YOUR CUSTOMERS COME FROM
02
DIFFERENTIATE YOUR OFFERINGS
03
THINK ABOUT BRANDING
04
LOCALIZE YOUR MESSAGING