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Growing importance of marketing in a global marketplace

No matter the focus, an online Masters of Business Administration (MBA) program will most certainly include curricula that feature global marketing strategy. Global marketing is when a company views all of their markets as one and decisions are no longer limited by borders. This approach, which mandates that companies and organizations think globally and act locally, is developed over time, leveraging best practices but also learning from real world successes and misses.

According to Global Marketing Today, global marketing is important because it affects us all. It affects the prices we pay, the brand perceptions we hold, the sources we look to for information and the buying options we engage. Global marketing is reflected in a company's financial position and its projected growth trajectory, it informs how customers are treated and even how complex business issues are evaluated and solved. Whether you practice in the financial arena, organization dynamics or logistics, the skills employed in global marketing can make you more informed and effective in your role.

Global marketing is the future

Online MBA students benefit from deep and specific studies in the technologies fueling global marketing. The internet revolution has changed the way the world does business, with total global e-commerce turnover totaling $22.49 trillion of global retail trade. Sites like Etsy, Alibaba and Amazon reach, promote and serve a global audience. The globalization of production and distribution (essential components of the marketing mix) drive labor and goods costs down and access up. Graduates with MBA degrees, including online MBA programs, learn the skills and insights they need to help their companies leverage these dynamics for an increased market share and improved bottom line. And because companies actively pursue partnerships across borders to facilitate mutual benefits, the foundations of global marketing also set the framework for organizations to work together to promote peace in political and social issues. This broad scope means there are exciting opportunities that await MBA graduates with a strong background in global marketing.

The global marketing management studies that are part of an online MBA curriculum will teach you how to meaningfully engage and contribute to your organization's success. You will learn the financial, legal and business decision-making tools that comprise the analytic aspects of marketing management in a global environment. You can also expect to practice and improve your global marketing strategy skills.

For many, the ability to market products and services globally is vital for sustained growth.  When domestic markets become saturated in developed areas of the world, organizations can capitalize on economic and population growth beyond their borders. This is true for both Business to Consumer (B2C) and Business to Business (B2B) models.  As developing companies become increasingly industrialized, their appetite for technology, infrastructure and connectivity becomes voracious.  Taking advantage of uneven income streams, companies are often able to supplement their domestic sales with international expansions that allow them to balance cash flow and right-size tax exposure. According to the US Bureau of Labor Statistics, those who choose to make global marketing the focus of their MBA studies enjoy an annual growth rate of 12 percent in employment opportunities. Global marketing strategy is a valuable part of any online MBA program and the opportunities ramp significantly with this type of skill.

You don't have to be an MBA to appreciate smart global marketing. As savvy consumers, we take advantage of it on a daily basis. To move from the consumer usage realm to the practice arena of global marketing as a business strategy, it takes disciplined study and thoughtful implementation. Pursuing an MBA with a strong emphasis in global marketing can be a useful tool in making that leap successfully.


Sources:

https://globalmarketingtoday.wordpress.com/about/my-top-5-reasons-for-global-marketing/

http://www.bls.gov/ooh/management/advertising-promotions-and-marketing-managers.htm


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