Global Marketing: Development, BRIC Markets, Entry Modes, and Franchise

Global Marketing
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Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Development of global marketing concept..................................................................................3
Discussion of development of global marketing concept by using appropriate sources.............3
Example of real business world and their relation to development of global marketing concept
......................................................................................................................................................3
TASK 2............................................................................................................................................4
One of the emerging BRIC markets information.........................................................................4
TASK 3............................................................................................................................................5
Company background..................................................................................................................5
Factors affecting foreign market entry mode decision................................................................5
TASK 4............................................................................................................................................6
Franchise entry mode of Goodwood............................................................................................6
Chosen market to use franchise by Goodhood fashion retailer...................................................6
Evaluation of using franchise entry mode...................................................................................7
Benefits to choosing franchise for Goodhood fashion retailer....................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9
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INTRODUCTION
Global marketing refers a procedure in which companies adjust their marketing strategies
as per changing conditions of global market or other countries as it is all about flexibility or
ability to adapt changes (Kotabe and Helsen, 2020). This present study is based on Goodhood
multi brand retailer which is offering around 200 brands of men and women. This study is going
to show effectiveness of developing global market as how it is allowing companies to increase
customer base and sales. Further, it will show some factors which affect BRIC country and its
performance. Lastly, it will discuss importance of selecting the best market entry mode in order
to expand business and evaluation of both internal and external factors while selecting the best
entry mode.
TASK 1
Development of global marketing concept
Global marketing refers marketing in which companies target, markets throughout the world and
it is vital for all sector of businesses (De Mooij, 2018). For developing global market and
becoming successful there is requirement of using international distribution networks as well as
having knowledge of intensity of competition in foreign market. An organization which design,
promote and maintain its services and products in the global area in known as global marketing.
Discussion of development of global marketing concept by using appropriate sources
As per the (Kasemsap, 2018) global marketing refers an application and uses of
marketing strategies and principles to more than 1 country. Exchanges of services and products
between different national markets is also known as global marketing.
Global marketing is all about an ability of an organisation of adapting changes occur in
international market and changing own marketing strategy accordingly by performing planning,
positioning and promotional functions (Global Marketing, 2019).
Global marketing concept is not only limited to selling products in international market but it
includes: production, planning and promoting products in worldwide market (Homburg, Jozić
and Kuehnl, 2017).
Example of real business world and their relation to development of global marketing concept
There are several companies and retailers who have effective relation with this global
marketing concept. For example: Airbnb, Nike, McDonald's, Red Bull and others. One of the
main features of Red Bull Australian company in the development of global market is its ability
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and tactics to host extreme sports events all over the world. Its effective marketing strategy made
it able to promote and attract customers from all around the world.
Nike is other real world example who can define development of global marketing
concept and how it works. Its ability of selecting international sponsorship like longstanding
relation with Manchester United is the main key of its success and expansion of business.
NikeID is its other main strategy of developing global market.
In the context of Goodhood it is stated that it is now planning about expanding its
business and it has expanded business with another floor section for men and women separately.
With franchising it is planning to expand business and attracting customers to the great extent.
TASK 2
One of the emerging BRIC markets information
BRIC refers to countries of Britain, Russia, India and China. They collectively are accounted for
around more than 40% of world population and around 20% of global GDP.
Background: China is known as the holder of the world's largest foreign exchange
reserves and it is the one among all BRIC country to contribute bulk of currency pool. It is also
stated that China wants to become location of reverse. It is the first summit to include South
Africa alongside original BRIC countries with having around 1,415,045 and the higher than
others.
Political risks: It is stated that Beijing issued a new white paper for china and outlined its
relation with other countries and to the world. This paper also concentrated that China is trying
to become democratic and its efforts to democratize the international system by promoting
interest for other countries. In the first decade of 20th century Beijing found that BRIC as an
influential political coalition along with emergence of China (IS BRICS Losing its Shine for
China, 2019). It is found as an important player. From last few months influential power of
China states that aspirations of the Chinese leadership to reshape the contours of global
governance.
Trade and other barriers between UK and China: China has some trade barriers due
to imposed restrictions and fee. Tariff barriers include: duties and taxes paid on particular import
and non-tariff include: regulation and license requirements. Because of fragile nature of
development or continuous growth, China is known as an active country in this area. It has tariff
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