Marketing in Global Economy

     Good afternoon everyone. My name is Natalia Krasii. I am a third-year student doing my bachelor degree in IE. A topic of my presentation is “Marketing in Global Economy”. To my mind this topic is very wide, but I have only 5-minute limited time. So, I tried to select the most interesting information, to my mind, about IM. In my presentation I’ll try to tell you more about

• a concept of Marketing and IM
• the IM Mix
• how to develop a global product

     Most people, including some business managers, say and think that M means selling or advertising, but they are wrong. M is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services.

     Let’s move to the 2 part of my talk in which I’ll tell you about international marketing mix elements. Which are a combination of 4 tools, often called the 4 Ps. Marketing mix is the set of choices the firm offers to its targeted markets. They are: product, price, promotion and place.

     1. Product is a good, service or idea to satisfy the consumers needs and wants.

     2. Price means the amount of money a customer has to pay to obtain the product.

     3. Promotion means communication between the seller and buyer, which persuade a target consumer to buy the product.

     4. Place includes company activities that make the product available to a target consumer.

     There are several components of Marketing, which you must take into account developing a global product. There are: brand, logo, slogan and advertising.

     The American Marketing Association (AMA) defines a brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers.

     A strong brand is invaluable as the battle for customers intensifies day by day. It's important to spend time investing in researching, defining, and building your brand.

     An important part of brand marketing is your logo. A logo can say many things about a company. Your logo is a symbol that can provide consumers with instant and powerful brand recognition of your business and the services or products that you offer.

     The next important component of developing global product is a slogan. Slogan - the verbal or written portion of an advertising message that summarizes the main idea in a few memorable words - a tag line.

Write a Slogan that Sticks

1. Your slogan must be memorable. Make it easy to remember, something they want to brand in their memory and possibly even repeat to others.
2. Your slogan must contain a key benefit of the product or service. Give them a reason to remember it.
3. It must differentiate your brand. It must bring out the character of the product or services that sets it apart from your competitors.
4. It must recall the brand name otherwise who cares who remembers it. The brand can be depicted in the words you use or in the image of your logo.
5. Create rhythm and rhyme. The rhythm of the tagline will help to stick in the memories of those that read it or hear it.
6. Make it warm and fuzzy. Slogan must leave people feeling warm and fuzzy. It can bring a smile to their face or perhaps even a little chuckle. A slogan is more likely to stick in the minds of others if it imparts a positive feeling or emotion.

   Advertising is a single component of the marketing process. It involves the process of developing strategies such as ad placement, frequency, etc. Advertising includes the placement of an ad in such mediums as newspapers, direct mail, billboards, television, radio, and of course the Internet. Advertising is the largest expense of most marketing plans, with public relations following in a close second and market research not falling far behind.

   And as a conclusion I’d like to say, that improved marketing can lead to significantly improved company effectiveness. With the right marketing, the right lists can be purchased, advertising results can be improved and customer satisfaction can also be increased. That is why this sphere of marketing is so important for every company.