Globalization: Building a Global Brand Essay

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Globalisation has a huge impact on marketing in many ways. Globalisation can force businesses to change their operations, perform to expectations, vary their marketing strategies or adopt a Global Marketing strategy. Businesses must adapt to these situations to succeed in the Global Market and establish themselves as a Global Brand. Marketing is a key, arguably the most important factor of a business. It is the range of activities that aim to identify, anticipate and shape customer demands and satisfy these demands in a way that furthers the businesses objectives (Moore,2011) It is crucial in the role that it generates funds, but it is also dependant on other business functions. It is a very broad role in business, as it's role ranges…show more content…
One of these benefits being it can extend product life. Older products can still be sold in lesser developed countries as people will still often purchase them, saving the business time and money they would otherwise consume developing a new product for that market. Globalisation also gives the business a chance to make the most of other countries resources as raw materials and labour may be much cheaper in another country, so the business may exploit these to cut costs and raise profits. Along with these benefits, a business is open to a larger market therefore gets more coverage for their brand, an if globalisation is done effectively the business will become a global brand. Global Brandings. A global brand is one which is perceived to reflect the same set of values around the world. A global brand allows companies to explore many more operations strategies to make the business more efficient, however it also introduces many more risks to the business if not done effectively. Considering there are many variables between different markets globally, the opportunities and risks are larger and much more must be taking into account when marketing a product. However with large risks great rewards are inevitable if a business successfully establishes itself as a global brand. Once a business does establish itself as a global brand with efficient operations , increased demand results in higher revenue and that yields good
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