International Marketing How Does Global Term Paper

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The role of the augmented product component has significantly added differentiation and value to products that compete in highly commoditized and less differentiated markets. These include cell phones accessories, cell phone plans, and the pervasive use of customer service to drive up lifetime customer value and loyalty. Augmented components of products are also the guarantees, accessibility to technical and service support resources, and warranties delivered with the product itself.

This augmented component is typically the most abstract yet is the most critical for any product to achieve lasting differentiation.

Why is a "global brand" the firms most valuable asset?

The strongest asset any firm can have is a global brand because this equates to a global identity, and further, equates to a greater potential of capturing new customers through a higher level of awareness in global markets. A global brand is a critical catalyst for building awareness of the benefits and solutions a company offers, over and above the basic features and functions of their products. Just as important as being a vehicle for creating greater awareness which can lead to greater sales, a global brand establishes a unique identity which is highly differentiated from competitive companies in the same industry. A strong brand, such as Disney, can create its own market for entertainment and associated products. This specific company's ability to tie in both attractions that their theme parks and cinema, DVD and merchandise sales re-define integrated marketing. The same holds true for the Toyota brand and their focus on brining hybrids into the market, an area they are dominating today mostly due to their brand being strong enough to dominate the supply chain for the needed components to create hybrid automobiles.

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A strong global brand then is one of the most powerful tools for initiating sales cycles through greater awareness and is also a very strong differentiator relative to other companies in the same segment.

Briefly discuss the role, problems, and promises of the global services markets.

Global services markets are primarily meant to bring a consistency and responsiveness to the unmet needs they target with their offerings, and these could include both consumer-based as well as business-based processes. For the global services markets of financial services, the need for ensuring a consistency of transaction security globally is a foremost concern today for example. In this regard global services markets seek unmet needs that are pervasive across business and consumer segments, then define services offerings to address those needs. The focus on segmenting unmet needs by the lifestyles of the businesses and consumers being served is a critical concept in the go-to-market strategies for global services markets, in that often services are used by task, process or goal than simply consumed. Services are often driven by the context a business or consumer is in relative to their goals, that's why lifestyle segmentation is more important than simply using demographics to define global services markets.

The problems and promises of global services markets start with a recognition of the fact that for any global services market to be addressed there needs.....

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