Explain the term 'global marketing': - Leaving Cert Business - Question 14 - 2008

Global marketing refers to the strategy of marketing a product across the world using either a standardized marketing mix or an adapted marketing mix. This approach takes into account the varying preferences, cultures, and market conditions in different regions.

In a standardized marketing mix, a company offers the same product and marketing strategy in multiple countries, suggesting a uniform approach to consumers globally. On the other hand, an adapted marketing mix is tailored to meet the specific needs and preferences of local markets, acknowledging the diversity of customer demands worldwide.

A global business views the entire world as its marketplace and designs its products accordingly, ensuring they can cater to the various requirements of international customers.