Final answer:
Global marketing refers to marketing strategies and efforts on a global scale, adapting to different countries' needs and preferences.
Step-by-step explanation:
Global marketing does not necessarily mean doing business in all of the 200-plus country markets. It refers to the marketing strategies and efforts that a company undertakes to promote its products or services on a global scale. This may involve targeting specific countries or regions based on market research, cultural factors, and business objectives.
For example, a company may decide to enter the Chinese market due to its large population and growing middle class. The company would then develop marketing campaigns and distribution channels tailored to the Chinese market.
Global marketing requires understanding and adapting to the cultural, economic, and legal differences in various countries. It may involve customizing products, pricing, promotion, and distribution strategies to meet the specific needs and preferences of different target markets.