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Running head: GLOBAL MARKET ANALYSIS1Global Market AnalysisKathleen ShanahanCapella University
Running head: MARKETING MIX ANALYSIS 2AbstractThis research paper explores the global expansion of Airbnb, a company that operates an online marketplace to enable people to rent short-term lodging from others. Airbnb started its global expansion in 2011 and since then has established itself in 190 countries. Airbnb’s global strategies include website localization with translations. Additionally, the strategies include the use of communication using internal channels and word-of-mouth within the global communities. Airbnb is very effective with their global marketing communications, and this is apparent with the rapid growth of the company year over year. It will be important to continue the global growth that the company focus on positioning the Airbnb brand to keep the public’s interest in peer-to-peer accomodations and differentiate from the competition.
Running head: MARKETING MIX ANALYSIS 3Global Market AnalysisMarketing is ultimately putting the right product in the right place, for the right price, at the right time (Mind Tools, n.d.). A global market analysis studies the attractiveness and special attributes of the global communities. This document will explore the global market strategies of Airbnb and the effectiveness across country boundaries. Over a five year period, Airbnb expanded into 190 countries, a feat that is astounding (Yip, 2017). This paper will analyze the role of external factors in the global marketing decisions, evaluate the effectiveness of these strategies, and conclude with a recommendation for further global expansion.Company OverviewAirbnb is an online marketplace for the public to list and book accommodations around the world. Airbnb was founded in 2008 in San Francisco as an alternative to the traditional hoteling accommodations (Airbnb, n.d.). Airbnb offers a unique experience to visit and tour the world in more than 65,000 cities and 191 countries (Airbnb, n.d.).Leigh Gallagher (2017), Fortune Magazine, states that Airbnb’s mission statement is “to make people around the world feel like they could belong anywhere” (Para. 3). Gallagher (2017)states that Airbnb wants to stand for something bigger than travel; “community and relationships and using technology for the purpose of bringing people together” (Para. 6). Jonathan Mildenhall, Chief Marketing Officer (CMO) and former Coca-Cola employee, convinced the founders that the Airbnb’s mission statement should be expanded into Airbnb’s tagline, “Belong Anywhere” (Gallagher, 2017).