FDN005: Tech & Globalisation Impact on Business Marketing

This report analyses the profound impact of technological advancements and globalisation on modern business, particularly in the realm of marketing. It highlights how technology and social media have revolutionised marketing strategies, shifting from traditional methods to digital approaches like SEO, social media marketing, and AI-driven campaigns. The report also explores the effects of globalisation on the United Kingdom, detailing both advantages such as cultural enrichment and increased standards of living, and disadvantages like the decline of domestic industries and pressures on housing. It concludes that while globalisation and technology offer numerous opportunities, managing their impacts remains a critical challenge for businesses and economies.

FDN005

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Discuss how developments in technology and social media have impacted on the way ...........3
companies and organisations market their products and services in the last ten or fifteen ........3
years............................................................................................................................................3
With the help of clear examples, discuss how globalisation as a phenomenon has impacted ...6
on a country or region of your choice. In your discussion remember to put forward both ........6
positive and negative effects of the phenomena.........................................................................6
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Technology has evolved leaps and bounds in the last 10-15 years and it has permeated
and changed each and every dimension of business from the very top all the way down to the
bottom line. Technological advancement has transformed the way modern business operations
are executed as most of the tasks have either been completely automated or the human element in
the departments is supported by fully integrated management information systems. The way
businesses design, market and promote their products has also changed a lot with recent
technological prowess as it is now done extensively through or by the support of social media.
Globalisation has also had a profound impact not only on business but the way people
lead their lives worldwide. This phenomenon has effectively turned the entire world into one
giant integrated hub where exchange of goods, services, processes and technology have become
near instantaneous (Beer and Clower, 2019). This report will highlight the phenomenon of
globalisation and it's impact on the United Kingdom's culture and economy with a detailed
description of it's advantages and disadvantages. The impact of technological advances and
advent of social media on the modern marketing landscape from the past 10-15 years will also be
analysed along with the role social media has played to change the techniques marketers use to
attract and interact with customers.
TASK
Discuss how developments in technology and social media have impacted on the way
companies and organisations market their products and services in the last ten or fifteen
years.
Technology facilitates and structures the way we lead our lives and the way organizations
conduct their business operations and with each leap and innovation that takes place in the
technological landscape, it impacts a business in variety of ways (Choi and et.al., 2020).
Technology has gone through many similar leaps in the past 10-15 years and it has changed the
business landscape as now the employees work according to their needs by enabling remote
working, it has empowered customers and made businesses focus on developing smart end user

interfaces and it has changed the way marketing and promotion is conducted by changing the
traditional textbook concepts of marketing.
Marketing is no longer recognizable thanks to technological advances of the last decade,
it went from widely used physical posters and collaterals based door to door sales and guerilla
marketing campaigns to extensive use of social media, automation, marketing software's and
artificial intelligence to design smart promotional strategies. Technology has made an entire
digital market which has been largely untapped by businesses, more than 50% of the world
population has been integrated with the internet network which is more than 4 billion potential
customers (Feasel, 2018). Smartphone marketing has also been growing rapidly as more than 5
Billion people own a smartphone worldwide and millions use apps like YouTube everyday.
The traditional trends in marketing have been rendered mostly outdated with innovation
in technology as the whole concept of the 4 major P's of marketing have all undergone an
operational revolution and their definition, workings and methods have all evolved which are
listed below. Product-Internet has completely changed the way a business designs, packages and offers
it's products to it's clients. The rise of software based services based on smart IT
solutions, development of consumer experience centric products and allowing clients to
access the inner workings of a business system by extranet have all changed the way
products are marketed. The rise of E-Commerce websites to display, advertise and sell
the products in the last decade has also changed the way product mix works in the
marketing strategy of a business. Price-Marketing software's and the internet have made it very easy for a business to
obtain large amounts of information regarding customer buying behaviour. Prices can be
easily compared and analysed which has resulted in price competition getting more cut-
throat for companies. The rise in online payment technology has made cash collecting
and recording much more convenient (Fisher, 2018). Businesses have started to package
their multiple market offerings together and market them with a discounted price both
offline and online which has resulted in commodification of the price mix. Place-Technology has effectively led to the death of distance in marketing as it has made
remote business operations easily possible via the internet. This has led to a big decrease
in the barriers to entry in major business markets and also allowed small sized business

firms to challenge and compete with big businesses for market share and product
competition. Marketing technologies have also made it far more easier to segment and
target profitable and niche markets for increased profitability then it was possible just a
decade ago.
 Promotion-Every dimension of product promotion has evolved and the technology used
in promotions a decade back have all been changed or replaced. Advertising from
professional business websites and through social media channels have become common
parts of the promotion mix and techniques like online banner advertising and SEO
(Search Engine Optimization) are all used to direct public traffic to the website. The
widespread use of company's dedicated data centres and artificial intelligence assisted
telecommunications channel has helped companies to provide much better assistance to
their customers and provide them with much faster and more detailed product
information.
Advancement of electronic technology has played a huge role in changing the general marketing
strategies used by businesses as it has brought digital marketing to the forefront of promotional
tactics (Harsanto, 2021). Digital marketing has many approaches used by many companies in
their digital infrastructure and their presence on the world wide web which are given below. Search Engine Optimization Social Media Marketing Affiliate Marketing Blogging
 Pay-Per-Click (PPC)
Digital Marketing has changed the way businesses undergo their marketing cycle as it provides
low cost and higher reach on marketing messages, it facilitates much better and more organic
interactions with potential costumers and has tools which have made real time analysis of
marketing possible by measuring impressions, clicks and conversions with data analytics
software.
Social Media has also played a huge role in transforming the approach firms take to
market and promote their products and services as it has helped businesses communicate much
faster with their targeted consumer base and become omnipresent in the process (Napoli, 2019).
Before social media, marketers had to dedicate a large amount of time to segment and target their

audience but with half of the world being active daily on social media websites, it is very easy to
segment the targeted market. It allows marketers to personalize and customize their marketing
strategies as customer's personal data is readily available. Social media has also allowed a
company to increase it's customer loyalty and brand recognition through targeted customer
engagement.
With the help of clear examples, discuss how globalisation as a phenomenon has impacted
on a country or region of your choice. In your discussion remember to put forward both
positive and negative effects of the phenomena.
Globalisation as a phenomenon has been responsible for the way the entire world is
currently integrated together despite the differences in culture and national as well as
international borders. It is the process through which major economies and countries are being
connected together as a giant hub where exchange of goods, services and technological processes
is fast, convenient and easy (Oberoi and Halsall, 2018). Globalization has impacted various
countries at different intensities and not all has been good and also hasn't been all bad, when it
comes to United Kingdom the picture is quite complex but the impact on all major industries and
the overall economy has been undeniable.
The impact of globalisation in the UK has been of such magnitude that it now exists in
the global integrated hub at an exceeding pace. Globalisation has brought abut various structural
and industrial changes as well as shifts in the economy of UK as native production now uses
globally procured input materials to facilitate it's operational needs which has led to the increase
in import barriers to protest against comparatively cheaper foreign goods and materials. The
overall volume of trade in the UK has increased considerably and special focus has been placed
on industries where UK has global competitive edge such as video gaming and nuclear part
production (Şimşek and et.al., 2021). The biggest of the changes globalisation brought to the UK
was increasing it's dependency on foreign countries to attain self sufficiency as in the 1900's,
more than 50% of the people in UK worked secondary sector jobs while that same percentage
has dropped below single digits according to recent measurements.
Globalisation has also led to great import variety of different goods floating around in
the markets of the UK such as fruits and vegetables from different corners of the world. It has
also led to a considerable increase in domestic competition among businesses in the UK as the

fight for market share is now with goods that come from outside the border, this is mainly seen
in clothing, food and electronics industry particularly computers and smartphones. UK has also
seen a major increase in business outsourcing to foreign third parties which has led to increase in
efficiency while reducing collective business costs.
Movement of manpower and labour across borders has been the defining effect of
globalisation not only in UK but in all major economies of the world and there has been a large
scale migration in UK of both skilled and unskilled labour which has boosted the manpower of
certain industries such as fruit picking but it has also led to undue pressure being put on the
housing industry (Thaichon and et.al., 2018). In the context of UK, the overall impact of
globalisation has been full of advantages and setbacks which are listed herein. Advantages-Globalisation has turned UK into a culturally rich destination with great
variety in foods, customs and forms of public entertainment. The industries in the UK can
adopt technologies far more quicker thanks to globalisation, breakthroughs made in Asia
can be put in work in the UK in a matter of days. There has been an increase in the
overall standard of living coupled with lower costing for a range of goods across the
country due to the increase in competition brought about by globalisation.
1. Disadvantages-Among nationally rooted UK citizens, there has been a growing feeling
that globalisation has led to erasure of national heritage and pride. Despite increasing
standards of living and lowering costs all across the board, globalisation has also hurt the
self sufficiency of the UK by making it's domestic industries weaker and dependent on
foreign powers to facilitate it's routine operations. Surveys have also found out that a
major part of the population feels overwhelmed and washed up by globalisation and have
been unable to keep up with the diversification of society, burst of jobs and displacement
of homes and jobs (ŽILKOVÁ, 2021). It also places a lot of stress on UK's housing
industry and physical infrastructure which was one of the major reasoning behind the
vote of Brexit which has been seen by business and economic analysts as a vote against
globalisation. UK has struggled to regulate the forces of globalisation and the side effects
of doing so haven't been kind.

CONCLUSION
The above report discussed the difference brought in the business landscape since the last
10-15 years by rapid advances in technology. Details of various technological innovations and
their impact on business operations were pointed out with a special focus on marketing. Special
focus was given to the 4 P's of marketing named Product, Price, Place and Promotion which are
foundations upon which the marketing campaign of a business is built. The role and growth of
digital marketing and it's use in driving business and marketing strategies was also discussed.
The impact of social media on marketing tactics was also analysed and a conclusion was reached
that technology and social media have structurally transformed the way marketing is done. The
onset, impact and positive as well as negative effects of Globalisation were also discussed in the
context of the United Kingdom and it was clear that globalisation was an uncertain picture for
UK with both pros and cons following Brexit.

REFERENCES
Books and Journals
Beer, A. and Clower, T.L., 2019. Globalization, planning and local economic development.
Routledge.
Choi and et.al., 2020. Social media analytics and business intelligence research: A systematic
review. Information Processing & Management, 57(6), p.102279.
Feasel, E.M., 2018. Challenges confronting globalization. In Exports, Trade Policy and
Economic Growth in Eras of Globalization (pp. 190-213). Routledge.
Fisher, M., 2018. Impact of Cross-channel marketing automation technology innovation on
customer satisfaction (Doctoral dissertation, University of St. Francis).
Harsanto, B., 2021, August. Technological Innovation in Small Business: A Study on the Three
Recent Baldrige Awards’ SMEs Recipients (2017-2019). In International Conference on
Economics, Business, Social, and Humanities (ICEBSH 2021) (pp. 1365-1370).
Atlantis Press.
Napoli, R.P., 2019. The Impact of Globalization on American Society.
Oberoi, R. and Halsall, J.P., 2018. Revisiting Globalization. From a Borderless to a Gated Globe.
Cham: Springer, 39.
Şimşek and et.al., 2021. A journey towards a digital platform business model: A case study in a
global tech-company. Technological Forecasting and Social Change, p.121372.
Thaichon and et.al., 2018. Hybrid sales structures in the age of e-commerce. Journal of Personal
Selling & Sales Management, 38(3), pp.277-302.
ŽILKOVÁ, M., 2021. INFLUENCE OF GLOBALISATION. Globalisation Trends in the
Media, p.20.