Global Marketing in the 21st Century

1.What are some of the key marketing strategies mentioned by Mr. Abenante to compete in a 21st-century global economy?

Marketing strategies are essential to any existing company. The rationale behind this is that one may develop goods and services with the highest potential of generating a profit by using a marketing plan as instanced by Mr. Abenante (New York Stock Exchange, 2013). This is so that marketing strategy may begin with market research, which considers one's ideal target client, what competitors are doing, and potential global trends (Zabojnik, 2018). The VP of Brands and Insight mostly revolves around enhancing their branding by expanding past the local needs to meet consumer requirements in different geographies (New York Stock Exchange, 2013). This is a means of making the brand relevant and, as such, enhancing the company's equity to be among the topmost brands worldwide (New York Stock Exchange, 2013). Moreover, he emphasizes that as a marketing strategy, one should look up to top brands and focus on similarities that matter, such as grand purpose, a creative idea used as a springboard for narrating the company's life purpose, and relevant roles that the company and its product will play in people's lives across all geographies.

2.How has the merger between AB and Inbev impacted both companies (internal factors) and their respective global industry (external factors)?

A company's brand must develop as it expands and undergoes change. This covers both the implementation and strategy of branding. Additionally, it's important to stick to the fundamental principles even as one's brand develops. These form the basis of one's brand and should not alter even when other facets do (Zabojnik, 2018). For example, the merger between AB and InBev resulted in the manufacturers becoming the largest in the world (New York Stock Exchange, 2013). Internally, this merger pushed both parties to re-evaluate their brand stands by defining what they stood for and what they were and determining their grand purpose (New York Stock Exchange, 2013). Moreover, from a global industry standpoint, the merger gave way to expanding past the local into the global market via exportations in several geographies (New York Stock Exchange, 2013). Consequently, this made the brand product, beer, relevant globally. They are now the largest brewer in the world because of the merger, and it is clear that they are always seeking innovative methods to meet consumer drink demands. All of them will center on the business creating a future that everyone can rejoice in and enjoy, which greatly clarifies what the new merger's brand stands for (New York Stock Exchange, 2013). Externally, using importation to reach new geographies is essential in increasing the company's equity. This is due to the opportunity that arose to enhance beer branding worldwide.

3.Research and choose another significant merger between two large multinational corporations, and discuss how it impacted their goods/services and the competition‌‍‍‌‌‍‌‌‌‌‌‍‍‍‌‌‌‌‍.

Mergers and acquisitions are common business practices. In many cases, synergy is the cause. This is the combining of business activities to increase performance while decreasing costs. In other cases, mergers occur as a means of diversifying or sharpening the focus of a business (Zabojnik, 2018). A company that merges to diversify may acquire another company in a seemingly unrelated industry to reduce the impact of a particular industry's performance on its profitability (Zabojnik, 2018). Companies seeking to sharpen focus often merge with companies with deeper market penetration in a key area of operations. For instance, the merger between Vodafone and Mannesmann was the biggest venture in history, valued at billions of dollars (Kumar, 2018). Vodafone, located in the United Kingdom, purchased the German business Mannesmann as part of the deal (Kumar, 2018). Consequently, Vodafone became the world's leading mobile provider, paving the way for future telecom transactions. However, many Germans opposed the agreement because they wished German companies would remain significant participants in the global economy. The transaction was noteworthy because it heralded the telecom boom's beginning as cell phones became mainstream (Kumar, 2018). However, it did not end up being a success. Following Mannesmann's rejection of Vodafone's initial offer, Vodafone was forced to increase its offer (Kumar, 2018). Unfortunately, the merger did not work out as planned, and Vodafone was forced to write off a lot of money in the following years.

References

Kumar, B. (2018). Vodafone acquisition of Mannesmann. Wealth creation in the world’s largest mergers and acquisitions, 17-29. https://doi.org/10.1007/978-3-030-02363-8_2

New York Stock Exchange. (2013). Global marketing in the 21st Century [Video]. https://youtu.be/4l0xFb3OLa4.

Zabojnik, R. (2018). Personal branding and marketing strategies [Ebook] (pp. 159-169). http://www.ejst.tuiasi.ro/Files/73/16_Zabojnik.pdf.