1) Why is global marketing important? 2) What is meant by having a global vision
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Question
1) Why is global marketing important? 2) What is meant by having a global vision? 3) How different is the external environment of the global market versus the domestic market? What additional barriers are there? 4) What is your opinion of blocking certain types of foreign trade to protect the "home economy?" 5) Would the US be better or worse off by not participating in a global economy? DISCUSS...Give me your opinion, but base your opinion on more than what's on the top of your head.) 6) Discuss the various ways of entering the global marketplace. Which options are more or less risky? 7) What do you think about multinational involvement in developing foreign countries? What are the advantages and disadvantages? 8) How can exchange rates affect a firm's global sales? 9) What are some ways of developing a global marketing mix? 10) Has the internet opened up any additional global markets? 11) Do you think teenagers in developed countries are "global consumers?" 12) What is your opinion of selling cigarettes in foreign countries? 13) Is the Internet culture proof? Discuss.Explanation / Answer
Global marketing is when a company views all of their markets as one and decisions are no longer limited by borders. First and foremost, I understand that not everyone works at a huge corporation or industry-leading company. This is not to say you shouldn’t pay attention to what key players and countries are up to. Everything they do has an effect on other businesses and consumers at one point or another. It may either help or hurt you, so familiarizing yourself with their strategies can help you to adapt to changes (whether that be from a buying or selling standpoint). If nothing else, being aware of what’s going on globally is never a bad thing. For example, take a look at the auto industry in America. Thirty years back, the industry-leading manufacturers were General Motors, Ford and Chrysler. Today, companies like Toyota, Honda, and BMW have really changed the game. As a consumer, you now have many more options, and with more competition you are likely to get a better deal on a vehicle.
You don’t want to miss a good opportunity:-
For many, the ability to market products and services globally also brings a huge business opportunity. When domestic markets become saturated in developed areas of the world, extending beyond national borders allows a firm to capitalize upon countries experiencing economic and population growth. This trend can prove true in both b2b and b2c business models. One instance where this can be easily observed is in the IT and telecommunications industries. As emerging markets such as the BRIC countries (Brazil, Russia, India, China) become more industrialized, their need for technology and connectivity increases. As a result, many major US and western European companies are able to expand through international marketing efforts. Taking advantage of uneven income streams by supplementing domestic sales with international can also serve as another opportunity to balance cash flow and grow your business. For example, if you are a maker of sun tan lotion that is only usually bought in hot, summer months, marketing to a new country with opposite seasons may be the chance to double your sales.
This is the future:-
Technology has developed so rapidly in recent years. The use of the internet has allowed goods, services, people and capital to engage in e-commerce and exchange goods and services more freely than ever before. The internet revolution has changed the way the world does business, with total global e-commerce turnover totaling $12.8 trillion in 2006, 18 percent of the global trade of commodities. The number of people using the internet reached 2 billion in 2011, and will continue to increase in all parts of the globe.
Work to promote global cooperation:-
Along with the threat of global competition comes global cooperation. Organizations are making much greater efforts to communicate effectively and understand one another’s cultures in order to achieve greater business success. When companies expand to foreign markets, they must study the values, attitudes, customs, beliefs and language of the native people. This education extends beyond business and is causing people to familiarize and accept people and areas of the world that are much different than them. Companies are also pursuing partnerships with foreign competitors for mutual benefit. Globalization is affecting the interdependence of all nations, which has been argued to promote global cooperation. If we all rely on each other for economic resources, working together to promote peace in political and social issues is more likely as well.
2) Having a global vision:-
Globalization is about demolishing barriers physical, geographic, political, cultural, economic, social, legal, religious, etc. to enable collaboration, the sharing of ideas, and the conduct of commerce between people, companies or organizations outside local markets. The more barriers an organization overcomes, the more global it becomes. The majority of companies think that local markets offer plenty of business and safety at home, removing the need to conduct business abroad. After all, international waters are treacherous and they are not for the inexperienced or fainthearted. People believing in that often lack conviction, knowledge and courage to think globally. In our globalization era, you cannot shut the world out just because your most convenient clientele lives within the boundaries of your own habitat. You don’t necessarily need to sell your products abroad to be or think global. Even small local companies need to consider leveraging global resources if they are to effectively compete against pending threats. How many mom-and-pop shops shut down every year when a Wal-Mart or a Target opens in their neighborhood or online retailers cannibalize their sales. Every day big chains and online retailers bring China’s giant manufacturers and their awesome resources to compete with you in your own backyard. While having a global vision the main points to be considered are –
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