Impact of Globalization on Marketing: Economic, Cultural, and Ethical Factors

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Table of Contents
Background, Aims and Objectives:................................................................................2
Analysis of the Scenario:...............................................................................................2
The Concept of Globalisation:...................................................................................2
Economic Factors Related to Globalisation:..............................................................3
Cultural Factors Related to Globalisation:.................................................................4
Ethical Factors Related to Globalisation:...................................................................5
Analysis of the Findings:...............................................................................................6
Conclusion:....................................................................................................................6
Recommendations:.........................................................................................................7
Communication of Recommendations to Stakeholders:................................................7
References......................................................................................................................8

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Background, Aims and Objectives:
This century is considered as the time of the globalization and the impact of the
globalization has become diverse based on the cultural, economical and the ethical values.
The organization is required to maintain the business sustainability by the proper business
plan. Accor Hotels is one of the largest multinational hospitality company that owns,
manages and franchises hotels, resorts and vacation properties.Accor hotel is considered as
the leading group in the hotel industry and it has 4300 hotels in 100 countries. This group’s
growth and dynamic are the missions which are driven forward every day by 250,000
employees working in the various place around the world. The company’s success has been
increasing in skyrocketing manner and it continues its increase in the globalization age.
This study aims to find out the positive impacts based on the economical, cultural and
the ethical values of globalization on the marketing field of the business.
The objectives of this study are:
i. To understand what is globalisation.
ii. To determine the economic impacts of the globalization’s effect on marketing.
iii. To determine the cultural impact of globalization on business marketing field.
iv. To determine the ethical impacts of globalization on the business marketing field.
Analysis of the Scenario:
The Concept of Globalisation:
On the broad concept globalization can be defined as the term for describing the
integration and the people interactions on the global scale (Ampuja 2015). Based on the terms
of the business and economics, globalization is considered as the way of integrating
international markets and connecting the world economy (Bende-Nabende 2017, Balassa

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2013). Because of the increasing of emerging business trends, the globalization initiates the
free transfer of the goods, services and the financial resources across the national barriers for
developing the business relationship among the organization and the countries(Bende-
Nabende 2017). Globalization also helps to boost the business the economic sector of the
developing countries and it increases the living quality for the population of the developing
countries. Globalization enables the multinational companies for gaining the competitive
advantages through the free and the open business market.
Marketing is one of the effective method for promoting the business and sell the
goods and services. This will also include the advertising and the market research and it is all
about managing the exchange of relationship in the business. The important objectives of
marketing is to promote the business for creating the exchange of relationships with the
stakeholders and globalization has the most important impacts on it. This opens the door of
the international market for developing the ground of the business for selling the goods and
services and reaching to large number of customers. The globalization is to closely relate the
world economy as it includes the interaction of the international people, the cultural and the
ethnical factors are also the integral parts of the business.
Economic Factors Related to Globalisation:
This is found out that among the various economic factors, the globalization and the
development of the global business is important for the business. This can be segmented into
the two main components that is the export and import of the goods and services from
different countries. (Cavusgil et al. 2014). Because of the recent trend of globalization, the
exchanging goods and the capital between the countries has increased a lot and this became
noticeably easier (Intriligator 2017). The development of transportation and the internet
services has bring success in the global trade. Various multinational companies are adopting
the free trade systems for increasing the scope of the international business (Cavusgil et al.