The Global Marketing concept

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.