The world is a melting pot of diverse traditions, cultures, and most importantly, people.
Guess we have all come across different customs and rules that we had to memorise when moving from one country to another.
But on a microscopic level — individual provinces, states, regions and even neighbourhoods can drastically differ from one another wildly in terms of their customs and cultures.
So, it’s time that we focus on the underlying question.
What do you need to develop global marketing strategies that can resonate with all these varying market styles, making your product or service offerings exist consistently?
Opting for a part-time MBA in Singapore might give you the answer.
Continue reading to learn about the core principles to consider if you’re marketing a product or brand internationally.
The idea is to avoid making mistakes when exploring marketing opportunities in a foreign country.
First up, what your international marketing strategy should revolve around — the 8 Ps!
- People - analysing customer behaviour in a foreign nation
The product being marketed and the people you are marketing go hand in hand. - Product – blending in to fit the needs of your target audience
If you want to enter a new market then your primary goal must be to alter your offering to meet the local demand. - Prices - choosing an economy or premium pricing strategy
For the most part, the price point you use shouldn’t vary much in comparison to the competition in that location. - Promotion - selecting strategies that always work in a new environment
Focus on identifying the most effective methods for marketing your services or products abroad. - Place - finding the sales avenue that can please your consumers
Defining where you’ll be advertising and figuring out the right place to sell your offering is the ultimate motto! - Packaging – get hooked on the right look
The way you package your product or service may turn out to be the most essential factor. - Positioning - determining brand messages that resonate with the market
This is the stepping stone to success in international marketing. - Physical Evidence - getting the mood and ambience right
If you’re looking to venture abroad with a service, this should be your ultimate priority. - Local Teams - don’t overlook them
A Harvard business school review article points out, not listening to domestic teams is a mistake!
- Understanding - making a positive influence on a fresh community
The basis of all of these principles comes down to this particular theme.
Someone may have told you that that the process for establishing an international brand is quite similar to what you may already be practising domestically.
But sadly, that isn’t true.
Well then, you can start by effectively diving into the above-mentioned pillars of international marketing.
Gradually integrate them into your global marketing operations.
I’m sure it does not sound easy.
This is why, I encourage you to apply to our international marketing programme, to curb the hiccups while trying to broaden your reach globally!
The course is tailored to help you steer clear of misinterpreting campaign meanings for a global audience, whose lifestyles you may not be very familiar with.
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