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Global Marketing Mix, Mexico :, Brands should consider the international…
Global Marketing Mix
Promotion
Considers demographics, values, colors, business norms, beliefs to communicate brand effectively with global consumers
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Adaptation of sales promotion (ex: online, exhibits)
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Placement
Research on available product distribution channels, how similar products are being offered in the market and adapting strategies based on location
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Price
International pricing strategies are developed based on manufacturing cost, market place, competition, market condition, and quality of product relative to the marketplace
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Recognition of the political and legal environment and it's effect on price setting and international distribution costs
Understanding of the economic conditions confronting the brand (ex: exchange rates, crowded markets, inflationary pressures)
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Brands should consider the international environment and it's influence on each factor in the marketing mix to position their products and services successfully.
