The Global Marketing concept

This report discusses the concepts of global marketing, glocalisation, and emerging BRIC markets. It also covers triggers and motives for internationalization and market expansion strategies like waterfall and shower approaches. The economic and political environment of India is evaluated as an example of a BRIC country. The report also provides real-world examples of glocalisation and advantages and disadvantages of launching products in India for UK companies.

THE GLOBAL MARKETING
CONCEPT

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................4
Economic environment for chosen country.................................................................................5
Advantages and disadvantages for UK........................................................................................5
Task 3...............................................................................................................................................5
TASK 4............................................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................1

INTRODUCTION
This report will describe various concepts of global marketing with benefits company
will achieve in order to get adaptive by thinking globally but acting as locally. Furthermore, ot
would be discussing about reviewing of emerging BRIC markets in which it will evaluate
political risk and economic environment for specific country. Apart from this it will measure
triggers and motivates which is root cause for companies to internationalize. At the end of this it
will summarize the study by briefly describing to market expansion strategies with the help of
contrasting waterfall and shower approaches in similar context.
Portfolio Entry 1: The ‘global marketing’ concept
TASK 1
Explaining the Glocalisation framework
Glocalisation refers to the process for determining growing interdependence of world
economy, population, culture which brought by cross border trade in product and service,
technology, people and information. It is the practice for conducting business by the help of both
local and global considerations. This framework provides access to factors which may provide
several benefits to company and customer as well (Al Badi, 2019). The benefit of this aspect is
closure with strong strong consumer base and it enables to form flexible response to local
customer requirements.
Benefits a company might achieve by adopting a ‘think globally but act locally’ strategy
By gaining major access in local market strategies with suitable knowledge from
expertise across continents, business can take further development in flexible ways and improve
efficient design for workplaces. Similarly, it would reflect to both local market culture as well as
global brand value and this move can serve company's environmental goals which consist of
developmental factors for business to remain more sustainable in industry. Think Globally Act
Locally is the approach in itself which implies to strategy adopted by some multinational
organizations in order to formulate company's visions, aims and objective. Also, by devising this
strategy aims and objectives of the companies are fulfilled and such adaptive measures are
considered in markets on the basis of culture and specifications to particular marketplace. Thus,
creating global vision for company is very crucial as it aids in accomplishing primary objective
of business in order to get maximize profit in most lucrative terms with intensive market
development.

Example from the real business world that supports demonstrate ‘Glocalisation’
Glocalisation is all about ensuring that satisfaction level among local customers and
upgrading useful market strategy on particular time period. It takes via market research in order
to understand cultural aspects and social norms of company target markets specifically in the
case when they are selling in various market all around world. In the context of real world
examples there are some companies who adapt to such norms and make their work criteria more
suitable. McDonald's glocalizes its product across the world as serving to 69 million audience
worldwide company has mastered in customizing their branding, dietary requirement and food
segments towards each target market (Chandra, 2019). It also recognizes how food constantly
being part of people preferences and culture, so on they glocalise their branding and production.
It has been summarized in countries around world appreciating their products and feeling homely
with their brand.
Portfolio Entry 2: Review of merging BRIC markets
TASK 2
Background to chosen BRIC country
In concern to the preferable BRIC country India is emerging economy as such growing at
a faster level. It is likely to be the third largest economy by upcoming year 2030 including
estimated GDP size of around $15 trillion. Currently as it can be concluded it is the fourth largest
economy in the terms of GDP. There is majority of population having approx 140 crores, which
consist of 66% of total population below the age of 35 years. So all of these factors states that
consumers in the market and their preferences for specific segment.
Political risk for chosen country
The political issues aligned with India is volatility in foreign investments, taxation policy
or foreign companies, political instability and some cultural concerns. The policies of Indian
government has made challenging circumstances for business environment. Whereas country has
also changed such norms regarding to foreign investment rule for saving small business (Bešić,
2019). It has become huge challenging part for concern of foreign company to launch services in
India. On the other hand because of cultural diversity at broad scale, they also face some political
turbulence over several occasion which might impact to business. Overall, these are major
concerns which drive the political risk for country and drive challenging drawbacks.

Economic environment for chosen country
In order to describe ways in which economic environment takes place as India is so
called having immense population that leads to potential place to produce and setup new
business activities. The business can be set up in newly target markets concerning to particular
product for getting a great response. In current scenarios there are various aspects which is faced
by country in the time period of crisis and not being able to handle the situations. In order to the
same some factors such as inflation rate is at peak level at all time which would result in higher
prices of raw material and supplies that would impact to concluding prices of products. So the
spending patterns of people have changed due to unemployment.
Advantages and disadvantages for UK
Advantage for company in UK as such can be concluded as Argos Ltd is one of retailing
companies that owns selling product such as furniture, electricals and homewares. The major
advantage for company would be launching product in India and create huge target market for
younger generation (Ginting, Saidin and Azwar, 2020). Also, there is opportunity for business to
make strong customer base and cater their services in most efficient ways which would impact to
their increased profitability.
Disadvantage for company can be relatability of brand as such they must be adaptive to
glocalisation that proceeds approach to measure local market for enhancing expertise.
Task 3
Internationalize
Most of the companies look further to develop the business by catering to internationalize
process. In similarly ways there are some triggers and motive which leads to business actions
behind same process. Triggers are known as cause behind actions and motives are idea behind
any concern. The business may have various triggers that enables business to expand globally
and motives can be long term growth outcomes such as market leader, market presence and
marketing global. Some of the triggers can be concluded as consumerism, technological
advancements, and brand reputation. Consumerism is the process which stated increase in
consumption or utilizing of products and service being economically desirable. The concept of
globalization has made believe for several people that any kind of product or service exist in
world can be used by anyone. In present scenario growth and expansions are major synonyms
that proves and states with internationalization process. Thus, having such motives boost the

overall productivity of company. While taking an example of cosmetic brand such as Estee
lauder which deals in cosmetic products and internationally make some aspects with the motive
for long term success. They accessed to market situations pre product launch and positioning
with vision for long term growth in foreign markets (Shaukat, 2021). Hence, from such example
it can be said that triggers and motive are essential factors in internationalization process of
firms.
TASK 4
Waterfall approach and shower approach
The waterfall and shower approach are methods which known as international entry
modes utilized entities to make further business expansion globally. The competition level in
each industry is in higher extent and it is essential for business to adapt unexplored marketplace
and provide their services. Waterfall market strategy refers to sequential business development
in foreign markets. The main purpose of this strategy is focusing on single stage and having
adequate capability to contribute in other entry stage. It does not require any kind of major
resources and it is adapted by new markets as well as business who understand to importance of
analysing (Zaušková and Rezníčková, 2020). On the other hand in shower approach,
organizations produce similar products to various market in specific time, also companies are
getting benefits from same strategy to launch products. This process requires such large scale of
production and various amount of resources to make effectively launch of events. So it is very
risky approach as such launching same time obtain loss due to improper launch of product in
market.
CONCLUSION
From the above report describe various concepts of global marketing with benefits
company will achieve in order to get adaptive by thinking globally but acting as locally.
Furthermore, it has been identified concept about emerging BRIC markets by evaluate political
risk and economic environment for India. Apart from this it has executed the internationalization
process inn which there are two types such as triggers and motives as such these are root cause
for companies to internationalize. Whereas in further process it has been summarized the study
by briefly describing to market expansion strategies with the help of contrasting waterfall and
shower approaches in similar context.

REFERENCES
Books and journals
Al Badi, K., 2019. Implementation of marketing concept and organizational culture in SMEs in
Al Buraimi–Oman. Benchmarking: An International Journal.
Bešić, S., 2019. The Application of Contemporary Marketing Concept in the Sense of the
Improvement of Business Subject Competitiveness. Tehnički vjesnik, 26(2), pp.441-
448.
Chandra, M., 2019. APPLICATIONS AND CONCEPTS OF MARKETING OF SERVICES IN
A HOTEL. NOLEGEIN-Journal of Global Marketing, 2(1), pp.21-24.
Ginting, B., Saidin, O.K. and Azwar, T.K.D., 2020, April. Applying e-commerce marketing for
global economic development in Medan. In IOP Conference Series: Earth and
Environmental Science (Vol. 452, No. 1, p. 012072). IOP Publishing.
Shaukat, I., 2021. Marketing Management with Global and International Perspective. Journal of
Investment and Management, 10(3), pp.52-55.
Zaušková, A. and Rezníčková, M., 2020. SoLoMo marketing as a global tool for enhancing
awareness of eco-innovations in Slovak business environment. Equilibrium. Quarterly
Journal of Economics and Economic Policy, 15(1), pp.133-150.
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