Globalization And Marketing Management Of The Business

1118 WordsMar 2, 20175 Pages
Globalisation and Marketing management of the business Globalisation of business is the change in a business from a company associated with a single country to one that operates in multiple countries. Globalisation has a significant impact on marketing management as a barrier of trade between nations allow for businesses to operate on an international scale with various economies around the world. Marketing is the process of creating a product and then developing and implementing strategies that aim to promote, price and distribute the product to a marketing. Marketing also determine whether or not the product is popular by the amount of revenue they make from the sales of it, therefore marketing is all about determining what the business…show more content…
Currently, many companies have extended their massive sales, supply and production operations in the global market, managing to create global structures that allow them to rapidly transmit information and ideas from the other corner of the world. Businesses face a much broader marketing environment and a more complex one than before. For example, in terms of global competition, European and American companies have to face, even in their home countries, major Asian producers such as Sony, Toyota, Samsung, which uses an aggressive and highly competitive marketing policy. Customisation and Customising Marketing Of course, global marketing has its own pitfalls, but it can also yield impressive advantages. Standardising products can lower operating costs. Even more important, effective coordination can exploit a company’s best product and marketing ideas. In applying the global marketing concept and making it work, flexibility is essential. Marketers need to tailor the approach they use for each element of the business system and marketing program. For example, a manufacturer might market the same product under different brand names in different countries or market the same brands using different product formulas. Coca-Cola is one of a good example in this case. Coca-Cola is the one who made to the worldwide introduction of Diet Coke. The brand name,
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