Executive Summary of Strategic Global Marketing

Rapid globalization has followed the advent of the Internet and e-mail. Now every company around the globe is exposed to severe competition. To win the survival race, companies must have appropriate global marketing strategies and invade the promising foreign markets, which offer huge opportunities with risks. The headquarters’ executives must first select the target, set up the objectives and explain the reasons to the employees, then choose an executive officer for the foreign project and make a strategic plan to fulfill the objectives. The executive officer must control the risks such as inefficient information, economic and political disruptions, different culture, language, religion and business practices. Alternatively, headquarters’ executives may pursue the global M&A, tie-up, OEM and licensing agreement. Under the new world economy, there is no need to have brick-and-mortar stores, plants and offices worldwide; instead, marketing managers have only to develop several local websites to meet the local needs. The headquarters’ executives may choose to build a global business portfolio, which implement efficient global strategies. Strategic global marketing must consider all these risks, solutions and other alternatives. I regard strategic global marketing not as a cost or investment but as management itself; strategic global marketing needs to take account of the whole company group’s profits, environmental loads and local people’s happiness.