
MARKETING ACCESS FOR THE GLOBAL MARKET
Author(s) -
Katerina Dukoska
Publication year - 2019
Publication title -
knowledge
Language(s) - English
Resource type - Journals
eISSN - 2545-4439
pISSN - 1857-923X
DOI - 10.35120/kij3001209d
Subject(s) - marketing , business , marketing research , marketing strategy , product (mathematics) , marketing management , return on marketing investment , digital marketing , production (economics) , marketing effectiveness , marketing mix , economics , geometry , mathematics , macroeconomics
The company in the global economy is persisting in the production of goods that people want and are able to buy. Accordingly, it is essential to determine the market consumption to gain insight into the company's continued existence and resilience in the event that there is no potential threat to liquidation. Many companies today focus their focus on consumers (or towards the market). This implies that companies focus their activities and products on customer requirements. In general, there are three ways to do this: an approach to consumers, an approach to recognizing market changes and an approach to product innovation. In the approach to consumers, the wishes of the buyer are the drivers of all strategic marketing decisions. No strategy has been put into use until it passes the consumer research test. Every aspect of market supply, including the nature of the product itself, is driven by the needs of potential consumers. In this type of business, the firm's marketing department is often seen as a prime importance for the level of the organization's performance. The information from the marketing department of the organization will be used to guide the actions of other departments in the company. As an example, we can assume that the marketing department through marketing research can establish that consumers want a new kind of product or a new use of the already known product. Based on this knowledge, the marketing department will inform the research and development department on the basis of new wishes of consumers to create a prototype product / service. Then, the production department will start to produce the product, while the marketing department will focus on promotion, distribution, price and the like of the product. The company's financing section will additionally be consulted, taking into account the costs of financing the development, production and promotion of the product. Conflicts between departments can occur if the firm joins only the marketing orientation. Production may oppose the introduction, maintenance and provision of investments that may be needed to promote a new product. It is crucial to say that a company that plays on the global market must have a strategy that can be used to gain a competitive advantage. Every company needs to have a strategy for appearance on the global market in order to gain the opportunity to progress. It is crucial to create the conditions for advancing the company by choosing the right marketing strategy. This is necessary for the following reasons: - Direct the work of the company - Give an insight into the necessary expenses - Allows the company to gain a competitive advantage