Free Marketing Dissertations - Topic: Marketing Introduction The Widespread Phenomenon Of Globalisation Has
Topic: Marketing
Introduction
The widespread phenomenon of globalisation has allowed companies worldwide to finally be able to operate in international markets, more easily and more effectively. Globalisation has led to closer cooperation among world economies and to a high level of international trade activities. The world has become one global market place. Undoubtedly, the advent of internet technology has paved the way, during the past few years, for the growth of this phenomenon. Through the internet, consumers can readily access global information about products and services. However, globalisation has not only allowed for growth and improvement of international trading conditions but, also for increased interaction among different cultures and peoples. Businesses operating internationally have realised that, in order for them to be truly successful, they have to learn how to manage those cultural differences.
When an organisation plans to move its operations to a foreign country, it has to take both cultural and non-cultural factors into consideration. Both can, in fact, influence and impact the organisation’s business development and success. Let’s examine those factors.
Non-cultural factors include those factors and issues that are directly concerned with an organisation, such as: strategy development; the products or services the company will provide; geographical coverage; pricing strategies and its competitive environment. In other words, all those factors that are related to the company’s general business direction and management.
Primarily, an organisation has to develop a suitable and sustainable strategy, when planning on starting international operations. A core strategy is of fundamental importance for further international strategy development: the organisation has to thoroughly define its business operations and set its parameters in order to be successful in the global market. A vital part of international strategy development is the so-called marketing mix or the 4 Ps, as they are more widely known. The marketing mix can be described as follows:
The product (or service) that the company will sell / provide.
The price the product will be sold at selecting the most appropriate pricing strategy.
The place(s) in which the product will be sold, hence the geography / market selection; including the distribution channels through which the product will be made available to the market.
And lastly, the 4th P includes promotional activities such as, advertising; sales promotion, selling techniques etc.
After having established which kind of product or service the organisation will supply, the next step is to select the place/markets where the product will be sold. Of course, this step has to be preceded by some market research activity, to determine what the demand will be for a particular product, in specific foreign markets.
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