(PDF) Global Marketing Management
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Added on 2020-11-12
(PDF) Global Marketing Management
Added on 2020-11-12
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GLOBALMARKETING
Table of ContentsINTRODUCTION...........................................................................................................................3Entry 1..............................................................................................................................................31. Development of global marketing concept ........................................................................32. Evaluating the development of global marketing concept.................................................33. Business organisation supporting the development of global marketing concept.............4Entry 2 .............................................................................................................................................41(a) One of the BRIC country and its background.................................................................4(b) Evaluating the political risk for China..............................................................................5(c) The trade, tariff and non-tariff barriers between UK and China.......................................5(d) Economic environment of china.......................................................................................5(e) Advantage and disadvantage for M&S to move into the new market of china................6Entry 3..............................................................................................................................................61 Choosing a company from the real business world.............................................................62 Model to enter a new market and it benefit to the M&S in choosing right entry mode......6Entry 4..............................................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONGlobal marketing is the process that helps in adjusting the marketing strategies of anorganisation to adapt the business conditions of the other countries in a effective manner. Theprocess of global marketing consists of planning, creating, positioning and promoting theproducts in the global market. The actual advantages of global marketing with the proliferationof internet in the present marketing scenario is to the small business units as they can now reachto a wider base of customers all over the world. The report will demonstrate the following arearelated with the global marketing that will include global marketing concept, review of emergingBRIC markets, the factors that influence the choice of entry mode for a company, choosing afranchise in the new market. Entry 11. Development of global marketing concept The global marketing concept means the marketing process conducted to target themarkets all over the world for the betterment functioning of business operations. The globalmarketing concept helps in flourishing the business in the global market and the organisation isrequired to recognise the opportunities present in the international market and to reactaccordingly. The global marketing concept can be defined as the overall marketing frameworkwhich is adopted by an organisation that has a desire to work in the international market and ithelps in designing, introducing, distributing, promoting and maintaining their products andservices effectively (Ryu, Jang and Cho, 2014). The global marketing concept dimensionsinclude product design, the nature of packaging and labelling, choice in the proposed brandname, planning advertising strategy according to each country and after sale services support.The global marketing concept is not a revolutionary shift it is considered as the evolutionaryprocess the internationalized market place has been transformed over a period of time by thechanges taking place in the trading techniques, standards and practices. 2. Evaluating the development of global marketing conceptAccording to Gillespie and Riddle 2015, The development of global marketing concepthas taken place in this current time as the present business environment is of dynamic nature andthe has grown to be more competitive. The development has taken place because of the changestaken place in the business operations which has been reinforced and retained by the new
technologies and has evolved the economic conditions between the organisations workingtogether on a global platform. As per De Mooij, 2018, To get success in today's globalised economy, the organisationsare required to be simultaneously respond to the local and global market as well. So, it isimportant for the organisations to develop the global marketing skills to proceed their businessoperations in effective and efficient manner. In the view of Griffith and Hoppner, 2013, The development in the global marketingconcept is matched by the different sector organisations that plays a important role in themarketing exploration process and it also focuses on comparing the available company resourcesand marketing goals in the successful international global trade. The development was requiredbecause it helps the organisations to market the global platform in appropriate manner for theextensive reach and the need for the organisation product or services is established effectively. 3. Business organisation supporting the development of global marketing conceptThe organisation that can explain the development of global marketing concept in theirbusiness operations successfully over the years is Coco cola as it is the true multinationalcompany and has a large market base almost in each country of the world. The company Cococola has adapted the market changes of every market in which they deal with full measures andcorrect decisions to gain profitability at the global platform. It all has taken place because thebusiness organisation has followed the development in the global marketing concept effectivelyand has adopted the changes in trading techniques, standards and business practices effectively. Entry 2 1(a) One of the BRIC country and its backgroundChina is a country in the East Asia and is one of the world's most populous country thathas a population of around 1.404 billion. The country emerged as one of the world's earliestcivilizations state and the political system of the country is based on the hereditary monarchies. Itis said that since the introduction of economic reforms has taken place in the year 1978, theeconomy of china has become one of the fastest growing economy in the world with the growthrate above 6 percent and after the year 2014 china is one of the largest economy in the world bypurchasing power parity. The country is the largest exporter in the world and the second largest
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