Global Marketing and Digital Business Practices Assignment (Doc)
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Added on 2021-02-20
Global Marketing and Digital Business Practices Assignment (Doc)
Added on 2021-02-20
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GLOBAL MARKETING
Table of ContentsINTRODUCTION...........................................................................................................................1PORTFOLIO 1.................................................................................................................................11) Development of global marketing:..........................................................................................12 ) Development of global marketing concepts on basis of articles:...........................................13) Development of global marketing on base of example:..........................................................2PORTFOLIO 2 ................................................................................................................................21) Background of bric country India:...........................................................................................22) Political risk in Indian market.................................................................................................23) Tariff and non tariff barriers between UK and India:..............................................................34) Review of economic environment ..........................................................................................35) Advantages and disadvantages to enter in Indian market.......................................................3PORTFOLIO 3.................................................................................................................................3Example of real business company McDonald ...........................................................................3Modes of entry in foreign market................................................................................................4PORTFOLIO 4.................................................................................................................................5Franchising as an mode of entering market.................................................................................5Advantages and disadvantages of franchising.............................................................................5Benefits of franchising ................................................................................................................6CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONGlobal market includes marketing of product in the international markets. Companies ininternational market have to look after the factors affecting the product of the company and saleof company. Global market have modes of entering the global marketing like franchisingexporting and joint ventures.PORTFOLIO 11) Development of global marketing:Global marketing is about marketing products in the global market or internationalmarket. Companies which trade in global market are multinational companies. Globalizationhave increased in every country but these multinational companies have advantages of globalmarketing also like companies would overcome trade problems, save manufacturing cost onproduct and adapt new technologies from various countries. Globalization also have somedisadvantages like language and economic conditions of the society. Some countries havetraditional society which do not adapt this product. Multi national companies must need to followthe rules and regulations of the country and some countries faces problem of language andtranslation problems. Difference of language in global market is also not a big issue translatorsare hired by companies to communicate effectively. 2 ) Development of global marketing concepts on basis of articles:Schlegelmilch, B.B., 2016. From the above references I can say that the author is stating about globalizationstrategies which are handled by the managers of company. Multinational companies have to doresearch on the global market, economy of country and country market. Companies entering theglobal markets have to look after the foreign direct investment, customer relation ships and howto enter international markets (Schlegelmilch 2016).Ogonu, G.C. and Nwogu, C.U., 2018. From the references given above I can say that the author is saying about the Companiesentering the global market have to look after the business practices in global market place andother global companies or competitors in global market. The companies have to look after theeconomic conditions in global market. Globalization in the global market is increased becauseglobal companies also follow marketing strategies which includes product price, place and legalenvironment of the country (Ogonu and Nwogu 2018).1
Canel, C., Bejou, D. and Khumawala, B.M., 2015. From the references provided above I can say that Authors says that for globalization,international location must be suitable for companies and all facility must be provided in thenearby areas. Capacity must not be increased and expansion of company premises must be incontrol as pre need. Location for setup of plant is important because would also increase theexpenses of company (Canel Bejou and Khumawala 2015). 3) Development of global marketing on base of example:McDonald is the company which is ruling the global market, it is a franchise which has itoutlets in every corner of the world. McDonald is uniform franchises are giving same qualitysame experience and same food as well. Globalization has been increasing which has lead toglobal success and company is entering the country market as per the need of customer, likeproducts are provided as per the consumers taste and culture of the country. Company is alsofollowing market segmentation strategies, it is increasing the brand image by providing schemeson happy meals and various offers. Company has adapted as per the country it is following theculture, trends and religions and as well food is also healthy. It is also increasing their brandvalue and goodwill of company in global market.PORTFOLIO 2 1) Background of bric country India:India has big and developing market. Companies in the Indian market are well-establishedand developing as per time. Various multinational companies in Indian market is a big brand,these companies focuses on customer relationships and this companies is collecting informationregarding the consumer behaviour their and their needs. Nowadays companies are also usingtechnologies for promoting their products in Indian markets. In Indian market the companiesmust think about launching the product in market, because of high competition in market (ManiWathne and Antia 2019).2) Political risk in Indian marketIndian market is affected by the elections and on that BJP is ruling party in the electionsand the companies have to look after the policies which would be changed after the elections.GST have been introduced in the Indian tax system, which includes taxes on goods which willeffect the companies and products in the Indian market. Global companies are also affected by2
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