Global Marketing: Glocalisation Framework, Benefits, BRIC Country, Triggers, Market Expansion Strategy

GLOBAL MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................3
Task 1...............................................................................................................................................3
Explain the Glocalisation Framework....................................................................................3
Benefits for a company by adopting a ‘think globally but act locally’ strategy.....................3
Example from the real business world that supports this portfolio entry. Your example should
demonstrate ‘Glocalisation’....................................................................................................4
Task 2 ..............................................................................................................................................4
Brief background to the BRIC country..................................................................................4
Political risks in the country...................................................................................................5
Economic environment of the country...................................................................................5
Advantages and disadvantages for a UK company looking to move into Indian market......5
Task 3...............................................................................................................................................6
Triggers and motives that cause companies to internationalise.............................................6
Task 4...............................................................................................................................................7
Waterfall approach versus Shower approach as a market expansion strategy.......................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Global marketing can be defined as the process of marketing on a worldwide scale in
order to meet the global objectives. Global marketing is important for an organization because it
provides it with an access to new opportunities in order to increase overall revenue. Not only
this, it also enhances the overall familiarity of the brand and its reputation within the market
(Babin and Zikmund, 2015). The report includes an explanation of the globalisation framework
along with an evaluation of the benefits that an organization might achieve by adopting the
strategy of 'think globally but act locally'. The report also includes a brief background of the
chosen BRIC company and the political risks for it. Advantages and disadvantages for a
company that is looking to move into a new market are also included in the report.
Task 1
Explain the Glocalisation Framework
Glocalisation can be defined as the process which is used to describe a type of
organization or business that has been growing and has its operations distributed across different
parts of the world. In simple words, it can be said that glocalisation is a combination of two
marketing strategies, namely Globalisation and Localization. It means that the products as well
as services of the company are developed and distributed to the public both globally as well as
locally. The process of glocalisation can be expensive and involve the use of various resources,
but it allows the company to get an access to a larger market (Cleveland, 2018). Glocalisation
allows many goods as well as services to be more affordable and be available across different
geographical location. Glocalisation can eb said to be an effective approach because it allows
an organization not only to expand its business operations but also attain long term growth.
When an organization develops strategies, it should keep the needs and preferences of the local
markets in mind.
Benefits for a company by adopting a ‘think globally but act locally’ strategy
'Think globally but act locally' is an approach that is adopted by companies across
various industries and involves having a global point of view but responding as well as adapting
to local differences at the same time. There are many benefits for companies in adopting this
strategy. For instance, there is a reduction in the cost of operations as the resources are optimally
utilized. A company can have manufacturing plants in different countries in order to improve the