Global Marketing Assignment Copy
Added on 2021-02-21
11 Pages3355 Words19 Views
|
|
|
GLOBAL MARKETING
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1Description on development of global marketing concept..........................................................1Discuss development of global marketing concept with use of academic sources. ....................1Provide example that supports portfolio entry.............................................................................1TASK 2 ...........................................................................................................................................2Background of chosen Brick country..........................................................................................2Description on evaluation of political risk for chosen country....................................................2Discussion on trade, tariff and non trade barriers between UK and chosen country Brick. .......2Summarise the advantages and disadvantage for UK firm to move into new market.................3TASK 3............................................................................................................................................3Company of real business world..................................................................................................3Factors that affect foreign market entry mode decision & model that can help the company tochose the right entry mode...........................................................................................................4TASK 4............................................................................................................................................5Fashion retailer that uses franchise..............................................................................................5List of markets that has been chosen by Top shop to use franchise............................................5Advantages and disadvantages of franchise entry method..........................................................5Benefits of franchise entry method for Topshop.........................................................................6CONCLUSION ...............................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONGlobal marketing defined as process that inclusive of planning, producing, placing andpromotion of product and services. It is crucial for firms that offers product and services thathave universal demand (Agarwal and Wu, 2018). Thus, preset report is based on globalmarketing that is relate to expansion of product and service into another market.Henceforth, assignment will cover activities as to develop global marketing concepts,components that affects on the selection of the entry mode within new market. Lastly report willlay emphasise on entry method that aids to have international expansion. TASK 1 Description on development of global marketing concept.Global marketing concepts aids to business in many ways. This allows customer at worldwide level to be better informed and more focused on product and service that offer by firm.However, creation of global branding and marketing strategies aids entity to adapt, change andprovides services that can full fill customer demands. Henceforth, beneficial aspect of thisconcept are as- It tends to improvise economies of scale in production and distribution. This enhance power and scope. It leads to have lower marketing cost. Discuss development of global marketing concept with use of academic sources. As per the view of McDaniel and Gates, (2019) stated that global marketing is crucial forfirms that provide product or services to adapt to the conditions of other countries. In contrary tostated that Graham, (2019) global marketing defined as to sell the product and services of theenterprise at the international level. Therefore, it is inclusive of process as to plan, produce, placeand promote commodities at the world-wide level. Henceforth, De Mooij, (2018) stated out thatinternational trade aids to enhance the business functions by reaching potential clients within themarket. In contrary to McDaniel and Gates, (2019) stated that globalization is mainly forgrowing interdependences that are coming together in context of global economy and to makeinternational trade much easier. However, globalization allows to have free movement of goods,services and people across the world in seamless mode. 1
Provide example that supports portfolio entry.The global expansion aids to have competitive advantage to the enterprise. For example-IKEA is Swedish founded multinational group that works as to design and sell ready to assemblefurniture, home accessories, kitchen appliances etc. Furthermore, IKEA has taken initiatives toexpand their working in Serbia, South Korea, China, India etc. It is main driving force to offertrendy functional commodities and determine strategic position to enhance key performanceindicators. Therefore, strategic global outsourcing of commodity manufacturing enables Quotedenterprise to effectively reduce the price of commodities. TASK 2 Background of chosen Brick country.The global expansion can be conducted in grouping acronym referring to the countrieslike Brazil, India, China and Russia. Henceforth, internationalization will be conducted in India.Therefore, Indian subcontinent is the site of civilization as ancient in the world (Andersson,Evers and Gliga, 2018). As per the research, the economic situation of India GDP growth isexpected to speed up to 7.6 per cent in 2019-20 from an estimated 7.4 per cent in the currentfiscal ending March 2019. Henceforth, the growth rate has been declined to 7.4 per cent a yearlater. This is one of the seventh largest country by area. Thus, expansion of the product andservices will be beneficial in order to gain competitive advantage by internationalization ofcommodities. Description on evaluation of political risk for chosen country.Business foundation suggests foreign firms and investment guarantors on evaluation andmanagement. India is having the strong political condition (Kasemsap, 2018). Therefore, byexpansion of business within the boundaries of will be beneficial as it impacts investor,consumer confidence etc. Recently, foreign investors has identified that there is no control overthe external events as this can adversely affect the commercial viability of their investment andfuture expansion within India. These developments are inclusive of- Slow down in legal decision due to political instability. Adverse changes or unpredictability on foreign investment. To have fluctuation in inflation, interest and currency rates. The unexpected delays and cost overruns happened due to overlapping jurisdictions oflegal authorities (Gupta, Gupta and Gupta, 2019). 2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents