Success in Global Marketing

SUCCESS IN GLOBAL MARKETING 4

Successin Global Marketing

Successin Global Marketing

Lovelockprovided guidelines and suggestions for success in marketing servicesglobally. Will following these guidelines provide for greater successin global marketing? Why or why not?

Yes.It is evident that the suggestions and guidelines that Lovelockprovided for success in marketing services on the global arena wouldbe effective in enhancing the success of any business entity ininternational markets.

Perhapsone of the most crucial guidelines revolves around the importance ofconsumer behavior as far as the productivity gains within the servicesector are concerned. Consumer behavior underlines the activities andprocesses that individual consumers follow before making decisionspertaining to the purchase of goods and services (Lages et al, 2009).Of course, the success of any business entity whether in the local orinternational markets is founded on the consumers in which case it isimperative that one comprehends the decisions that consumers make,the basis for the decisions, as well as the frequency of making thesedecisions. The global or international market has come to such apoint where consumers are not simply inclined to purchase every otheritem that is in the market, rather it is business entities that mustinvestigate the likes and preferences of the consumers and aligntheir services and products to them (Lages et al, 2009). Forinstance, consumers or clients in a particular bank may chose to gofor executive services even when they must pay much higher for thesame just to avoid the queues in the ordinary counters and thesecurity risk that comes with the same (Slater et al, 2010).Similarly, examining the varied determinants of consumer behaviorincluding the sociological, psychological and economic determinantswould be crucial for the success of the business entity in thelong-term. Of course, these would allow for the comparison of theprospects for business in varied countries after which a decisionwould be made regarding the most appropriate one.

References

Lages,L. F., Silva, G., &amp Styles, C. (2009). Relationship capabilities,quality, and innovation as determinants of export performance.Journal of International Marketing, 17(4), 47-70.

Slater,S. F., Hult, G. T. M., &amp Olson, E. M. (2010). Factors influencingthe relative importance of marketing strategy creativity andmarketing strategy implementation effectiveness. Industrial MarketingManagement, 39(4), 551-559. (Calantone et al, 2006)