Globalization And Marketing Management Of The Business

At its basic understanding, international marketing engages the firm in making one or more marketing mix decisions across national boundaries. At its complex level, it involves the firm in establishing

Today, firms have to deal with a global marketplace; marketers have no other choice. Participation in global marketing has begun to shift from a mere “option” to an imperative. The world is becoming more homogeneous. Distinctions between national markets

Globalisation is the internationalization of trade and often forces businesses to adopt new strategies for operations to suit different cultures and economies. The often easily saturated domestic market has triggered many large

The article is divided into four parts. First part focuses on the traditional perspective on international marketing strategies focusing on the dichotomy between standardization and adaptation. The second part examines key assumptions underlying the philosophy of global standardization. The third part focuses on the constraints to implementation of global standardization. The last part of the article concludes on the bases of its review that a more general approach is suitable which incorporates various degrees of standardization or adaptation strategies. It is an important article as it concludes that an effective global marketing strategy does not guarantee the marketing of standardized products and global brands worldwide. It might work for some companies but cannot work for all.

3) Global marketing may take the form of diversification strategy in which a company creates new products or services for the domestic market.

The continued accelerating pace of change in globalization is forcing an entirely new level of emphasis on individualized, highly targeted marketing across the many regions and countries of the world. Global marketing today must contend with a wider array of constraints, both economic and cultural, that as ever been the case in the past (Gupta, 2003). These constraints fuel a high level of creativity and focus on how to overcome cultural and economic constraints through rapid product development lifecycles, exceptional levels of supply chain integration (Wu, 2011) and greater focus on relationship market over just selling with a transaction mindset alone (Hansen, 2008). The pros and cons of globalization of form the foundation of today's highly competitive global marketing arena, forcing many companies to be more focused on the strategic and long-range over the tactical while compensation for a rapidly changing cultural mix of factors (Osland, 2003). The pros and cons of globalization are evaluated and the unique factors of global marketing also analyzed.

In today’s world of constant change and technological advancements, it is imperative that marketers stay up to date and ready to tackle and challenges. Companies are battling neck to neck in order to make sure the products they offer are available and in the consumers mind. Not only do they have to be concerned about the local target audience. Now the reach is worldwide and the target audience can be a eclectic mix of races and cultures that demand the same product in many different ways. So the challenge faced by marketers is how to satisfy that audience. Looking a various examples, it is clear that while this is an attainable goal, it is not easy. Marketers can

Globalisation: Globalisation is an external influence that aids a business in achieving a competitive advantage. Globalisation refers to an increasing amount of economic integration between economies and is characterised by an increasing integration between national economies and a high degree of transfer of capital, labour, intellectual capital and ideas, financial resources and technology. Globalisation provides a source of market opportunities, but it can also act as a threat to business as businesses that effectively apply cost leadership principles can undercut the market and dominate. An example where globalisation has provided opportunity for a business is within the LEGO company. The opening of markets has been of great benefit to lego, This has helped the company develop a global brand making LEGO the largest toy company in the world. By having an understanding of Globalisation it aided LEGO to structure its operations in a way which allowed it to access resources at lower costs whilst gaining proximity to markets around the world hence allowing it to gain a competitive advantage over other toy companies..

Globalization changes many concepts in the international trading and forced all international companies to change their concepts in marketing to survive, therefore, globalization has affected strategically the process of marketing on the global scale whether directly or indirectly especially if we take account the spread use of the Internet which is now considered one of the most important tools of globalization in the economical field which marketing processes comprise one of its basic elements.

Global Marketing has many advantages but on the other hand it has some disadvantages too.

As indicated in the article “Leading in a Globalizing World”, the author, Kanter, R. M. emphasized that being successful in the global business environment takes special skills. As global managers, the biggest challenge is to improve upon their ability to deal with ambiguity, complexity, and diversity. Understanding the bigger picture and acquiring the global vision is the key, i.e. staying informed what the competitors are doing, what customers prefer at different markets. For example, a

This subject is designed to expand your understanding of international marketing and the role of marketing in an organisation operating across international boundaries. We will examine the various factors which must be considered when

The literature on international marketing presents a confrontation between two mainstream schools of thought regarding international marketing. The one supports the standardization approach and argues that multinational companies’ behavior should be uniform to minimize total costs and promote a global corporate image. The other argues for the need for adaptation to fit the unique dimensions of each local market. This research investigates companies’ practical level of adaptation and standardization in international markets. It identifies

As we know, marketing is essentially a creative corporate activity involving the planning and execution of the conception, pricing, promotion and distribution of ideas, products, and services in an exchange that not only satisfies customers’ current needs but also anticipates and create their future needs at a profit. There have five (5) stages in the evolution of global marketing that emphasizing on the management orientations at different stages which are domestic, export, international, multinational and global marketing.

The world offers significant business opportunities for every company, however, opportunities are accompanied by significant challenges for managers. Managing global operations across diverse cultures and markets represents a big challenge and opportunity for companies. To compete in the global market and be successful, companies must learn the strategies, policies, norms and technology necessary to conduct international business. The opportunities for global expansion are numerous, and attaining success is a matter of developing the right strategy to win local markets and its consumers.