Globalization & International Marketing Strategy

This article investigates the effects of globalization in the marketing function of a multinational company. The success of a company depends on the performance of human resource and it helps to sustain competitive advantage in the market. The term ‘globalization’ refers to the economic and political interdependence of countries, financial and market collaborations, development of social and cultural communication as mentioned previously, induced by the advancement of communication and transportation technologies and flexible trade policies of the countries.

Running head: GLOBALIZATION & INTERNATIONAL MARKETING STRATEGY
Implementation of International Marketing Strategy
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The phenomenon of globalization is an ongoing process of transformation
towards an increasing social, cultural, financial, economic and political, market and
environmental interrelationship among various nations. Along with the marketing strategies
the roles and responsibilities of human resource management of multinational companies are
changing the nature as the contemporary business faces the stress of globalization. Modern
business scenario is surrounded with numerous complicated issues due to factors like
globalization, and in order to handle all these challenges in a right way, human resource
department (McDonnell, Lavelle and Gunnigle 2014) need to make changes within the
business enterprise. Multinational IT companies like IBM, Microsoft have adopted policies of
outsourcing experts from different parts of the world to fulfil business requirements. Talent
management has become difficult across the world, as there is a long-term demand of highly
skilled employees everywhere. The success of a company depends on the performance of
human resource and it helps to sustain competitive advantage in the market. This article
investigates the effects of globalization in the marketing function of a multinational company.
The term ‘globalization’ refers to the economic and political interdependence of countries,
financial and market collaborations, development of social and cultural communication as
mentioned previously, induced by the advancement of communication and transportation
technologies and flexible trade policies of the countries. There are certain advantages of
globalization with a strong impact on business. The global market comes with a variety of
product for consumers and companies. The flow of information has become smoother and
faster worldwide and overcome all the barriers of culture depending upon the developed
technologies. The same factor acts positively when a business organisation wants to invest
over an international project. Considering the threats and opportunities driven by the
globalization, the business firms have begun to adapt necessary organizational strategies and
structures. The companies who have followed the business trends so far, turned out to be

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successful in their objectives. There are undeniable evidences that support globalization’s
strong effect on business as remarkable changes have been noticed by adapting revised
marketing strategy according to the dynamic market situation. As per recent developments, it
has been observed that globalization is helpful for raising living standards, enhancing
buoyance market for expanded industry and simultaneously it contributes a share in national
economic growth. There is a trend among all the MNC’s, to set up production close to the
market. In the case of a franchised product, the management needs to hire the workforce by
outsourcing. Both the parent company and the branches can enhance their financial structure
in the case of a franchised product. When a multinational company is framing plan to gain
global exposure (Grewal 2013), initially they can trust on the most traditional method of
economical exchange, which is exporting. Producer country ships the goods to another
country for future trade opportunity and advanced technologies cooperate on a large scale to
maintain interpersonal relationships among the nations irrespective of the varied cultures
(Samaha, Beck and Palmatier 2014). There are certain threats of globalization as well.
International ventures create job opportunities in foreign locations (Dabic, González-Loureiro
and Harvey 2015) mainly to the developing countries resulting a crisis of jobs in developed
countries. As globalization promotes opportunities of making profit, there is a hidden threat
of multinational business organisations with excessive power ruling worldwide. The
implementations of marketing strategies may bring power and profit yet instead of overall
development of lifestyle, the power has become community centric and the number of rural
landless families are increasing due to industrialisation. While framing the strategies business
firms should investigate the location and their foreign trade policies, the quality of
infrastructure, resources, competition and orientation of the consumers. A detail cultural
understanding of the consumers influence the annual turnover of a company on a huge scale.
In conclusion, it can be stated that, considering all the merits and demerits of globalisation

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there is an undeniable fact that if the management assumes all the future prospects correctly a
business organisation can achieve its purpose easily by following market opportunities,
investment potential and the supply of human resource resulting from globalization.

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References
Grewal, R., Kumar, A., Mallapragada, G. and Saini, A., 2013. Marketing channels in foreign
markets: control mechanisms and the moderating role of multinational corporation
headquarters–subsidiary relationship. Journal of Marketing Research, 50(3), pp.378-398.
McDonnell, A., Lavelle, J. and Gunnigle, P., 2014. Human resource management in
multinational enterprises: Evidence from a late industrializing economy. Management
International Review, 54(3), pp.361-380.
Dabic, M., González-Loureiro, M. and Harvey, M., 2015. Evolving research on expatriates:
what is ‘known’after four decades (1970–2012). The International Journal of Human
Resource Management, 26(3), pp.316-337.
Samaha, S.A., Beck, J.T. and Palmatier, R.W., 2014. The role of culture in international
relationship marketing. Journal of Marketing, 78(5), pp.78-98.