Globalization and Marketing

2032 Words9 Pages

Marketing can be defined as a discipline that involves researching and developing a product and then facilitating the sales and distribution of said product to the general public. Marketing has been around for a long time, and has been constantly evolving to meet the needs and purchasing behaviors of consumers. Marketing today is very different from what it used to be a few decades ago, mainly due to a rapidly changing world economy and the development of fast and virtually free knowledge distribution and exchange. Marketing faces many new challenges in the 21st century but none for important than the surge of globalization and information technology, both which impact current businesses more than any other factors. These 2
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Research is the key when it comes to cross-cultural marketing. Businesses ' should willingly use the services of research companies whos job is to provide detailed demographic information of a location that could be crucial in jump-starting a business 's venture into new territory. The information provided would help in the understanding the target market even before the first step is taken. It is very important that marketers learn all they can about a certain culture before making any moves. They certainly wouldn 't want to be caught unawares by a simple misunderstanding due to ignorance. For example, in some cultures, such as in Japan, it is perfectly exceptable to present a business gift, and moreover when it is expected but not presented, it is viewed as an insult. In some other cultures, the act of presenting a business gift could be construed as inappropriate might very well offend the recipients. In another case, Disneyland Hong Kong overflowed with visitors during Chinese New Year, prompting officials to close the park to any more ticket holders. Earlier in January, Disney had offered discounted one-day passes to the public that were valid for the next six months with an exception of a number of blackout dates, including Chinese New Year.Hong Kong celebrates Chinese New Year over 4 days, whereas the Peoples Republic of China
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