Global marketing planning involves focusing on a product or service on potential clients' needs in other countries. Often, global marketing planning will involve researching targeted or potential clients and producing products that are in line with their needs. Thus, companies such as Wal-Mart, Coca-Cola, and Red bull have had various global marketing strategies that have enabled them to dominate globally.
Wal-Mart
Wal-Mart is a chain of retailers and consumer shops that provides a large variety of products under one roof. These products include grocery, electronics, toys, clothing, books, pharmacy, musical instruments, and hardware. Ever since it was founded, Wal-Mart has become a global retailer having stores in over 25 countries globally, with nearly 256 million customers visiting their stores or e-commerce website. The immerse growth has been attributed to Wal-Mart’s commitment and strategy to bring opportunities and value to its customers globally.
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Increasing economic opportunities is one of the strategies that Wal-Mart implements in global marketing. Wal-Mart being a major retailer and having various products under one roof, has enabled it to create employment and economic opportunities for hundreds of thousands of employees and suppliers. Furthermore, due to the huge purchases, Wal-Mart enjoys economies of scale that enable the retailers to offer discounts and lower-priced goods strategy. Thus, enabling consumers to enjoy a quality product at a lower price. Besides, Wal-Mart's commitment to offering grants to promote workforce development through training has enabled its easy market penetration in most countries. Offering economic opportunities has enabled Wal-Mart to enter many countries as its strategy align with many states interest.
` Wal-Mart adheres to the principles of diversity and inclusion as one of its main values.
The company believes that it's best to involve, listen, and empower their associates, customers, employees, and suppliers to perform better. Also, for better performance and efficiency, Wal-Mart has nurtured an inclusive culture and diverse work environment where equality and justice are served so that everyone can be their authentic self https://www.walmart.com/ . Wal-Mart observing a simple strategy of being inclusive, having a diversified work environment, and ensuring equality has enabled it to penetrate on countries with different cultures and backgrounds.
Furthermore, Wal-Mart has taken the initiative to strengthen communities where their consumers and associates reside. Wal-Mart has a global strategy of giving back to the locals in needy times, such as during disasters or empowering communities through projects. For instance, Wal-Mart has pledged to offer a grant for pandemic recovery to India’s small-scale farmers to improve their livelihoods. Also, philanthropic acts and strategies of offering healthier food and education to the community have brought empowerment and human development. Such strategies from Wal-Mart have encouraged developing and developed countries to integrate while maintaining their national state interest economically.
Coca-cola
Coca-Cola is a non-alcoholic beverage manufacturer, retailer, and marketer. Coca-Cola is a leading beverage company producing over five hundred different brands and globally serving over two hundred countries. Coca-Cola was founded two centuries ago, having only one iconic drink, and it has evolved into a leading beverage company in the world. Its diverse and international marketing strategies have attributed Coca-Cola tremendous growth.
One of the best global marketing strategies is to know your consumers and understand what form to deliver the product. Thus, Coca-Cola has done enough research to understand what beverage consumers prefer and have enabled them to know what beverages to produce. Thus, Coca-Cola has over 500 brands across beverage categories. For example, out of their twenty top brands, eighteen of them have low to no sugar. Low to no sugar beverages result from meeting consumers' needs who want drinks with less sugar to observe a healthy lifestyle. Besides, Coca-Cola has created more beverages with nutritional benefits. Giving consumers the information they need, such as fat, sugar, calories, and sodium levels, has been an essential marketing strategy. These strategies have enabled Coca-Cola to retain and attract more consumers globally.
Coca-Cola has done international marketing strategies and efforts that focus on community programs and ensuring a sustainable environment and community. Thus, Coca-Cola has patterned with communities on recycling programs. For instance, in 2019, Coca-Cola offered a grant to empower 140 women to start enterprises in Peru's recycling industries ( https://www.coca-colacompany.com/ ). Thus, such a grant will ensure economic empowerment to a community while still promoting environmental sustainability, making Coca-Cola a known global brand in Peru and more countries.
Red Bull
Red bull is an energy drink produced by an Australia company. Red bull is quite enthusiastic and unbeatable when it comes to global marketing strategies. Red bull marketing strategists understand that putting consumers first is the best way to market a product, and selling a product comes second.
Red bull's most common global marketing strategy has been hosting and sponsoring extremes, sports, music concerts, and festivals all over the world. Sports and music concerts are events that most people attend for recreation, and Red bull is always there to give them the wings and energy they need to keep enjoying the moments. Thus, often people will want to associate with a product that hosted their favorite event and energized them during their enjoyable moments.
Conclusion
Global marketing strategies are essential for any organization seeking to expand their business overseas. By understanding potential clients' needs in other countries, a company can gain international recognition. Therefore, no matter the size of a company, a global presence is achievable with the right strategies and understanding of world markets.
References
The Coca-Cola Company: Refresh the World. Make a Difference. (n.d.). Retrieved October 08, 2020, from https://www.coca-colacompany.com/
Red Bull Gives You Wings. (n.d.). Retrieved October 08, 2020, from https://www.redbull.com/int-en/
Save Money. Live Better. (n.d.). Retrieved October 08, 2020, from https://www.walmart.com/
