1. Globalization and drivers of globalization impact on strategies
Globalization has given the direct impact on international marketing in business activity. An organisation may suffer take place among multinational corporation and global economic condition is the flow of money in the form of flow of investment (Papadopoulos, (2014)). In this context, to be focused on communication and technology has helped to modify the method used for business and marketing process. The international market is business will be expanded in global markets or improve the customer satisfaction must be amended in overall improvement. Globalization has contributed the rapid growth in international merchandising activity. There are some international policies and agreement is helping to improve the condition of marketing. On the other hand, some change in overall merchandising strategies and some factors is helping to improve the market conditions.
- Foreign direct investment :- In this context, FDI trends to be increased by the organisation. New technology is helping to boost financial market. It improves transfer of money, industrial restriction and growth of global companies. In addition, Enlarge business from one administrative district to another nation, the revenue from the foreign direct investment of the study will gain the capital of the home state. There is some technology effect, income effect and employment effects (Elenkov, (2014)). All such kinds of three effects will be improved, with the help of globalization factor. In addition, FDI will benefit for home country is increasing capital in the balance of payment.
- Technology innovation :-Ion technology innovation is increasing the rate of globalization. It is assistance stimulate the new technology development, particularly with the growth in FDI, which is assisted to improve the condition of economic evolution. In this context, process system is more efficient in the work place.
- Economic of scale :- At the economic of scale has reduced the cost and price, which is supported in future improvement and small business is working in domestically.
There are some strategies is to be used by different organisation for expand the business. On the other side, marketing is to be goes the same process of local marketing strategy is to be used are as follows :-
- Understand the culture differences :- There is something new trends are inculcated in culture factor is manage work. In this way, new business and market will improve condition level is increase of the society.
- Tie- up with local partner :- It is one of the most important part is tied- up with the local market. This is assistance to understand the need and wants of each and every customer to the local market. The product will be design need and want of client or improve market share (Demangeot, (2015)). A good perceptive of the local marketplace is a pre-requisite for happening and the best way to guarantee is through a joint undertaking global selling partnerships or commercialism tie-up with a local relative in the same commercial enterprise.
Globalization refers to the economy at the global level and it involves the two main characteristic the first one is that globalization, it is referred to multinational corporations and the second characteristic is that global economy flow of money in the form of derivatives, foreign investment and other investment (Amankwah-Amoah, (2017).). The aim of globalization is to expand and modify its market and the concept of international marketing refer to the marketing across national boundaries where product and services sale one country to another country. The main motive globalization marketing is that expansion their business and market diversification. A lot a business organizations and companies move in and focus on international marketing with the aim of earning more profit, sales, and customer. International marketing also giving opportunities to the business organizations' development and improvement in their term of product, services, strategies, operations and system.
The strategies of international marketing is that expanding their business and improve condition of the market and exporting is the first strategy of business in entering a foreign market. Exporting means manufacturing a variety of product in one country and selling is to another country. It is initial step of international business because exporting their good and services is a low risk strategy (Zeriti, (2014)). The impact of globalization strategies is that increasing the exports and import business, development and improvement of their whole economy, expand large number of organizations business and coming a new change in the market like increasing a demand and customer satisfactions (Olson, (2018)). Strategies of the market to acquire the highest exposure to the market and gather a knowledge regarding to the local marketing or target market and continue a great control over its resources and informations (StÃ¶ttinger, (2015)). The impact of globalization strategies raising internationally business such as foreign competition.
The globalization of market changing the conditions of the firms. Worldwide market is the procedure of exclude a marketing plan of action and rising the conditions of the administrative district and selling a commodity and service international. The impact of global market strategies is improving the product services and strong competitive and increase consumer awareness. The strategies of global market focus on its brand name, identification of product, pricing, packaging, advertising's. The impact of globalization market is that increasing the emerging economic and the components of global market strategy help to leaving an opportunities open for local product and brands. The global market strategies help to improve the standardizations of product and its cost, improve quality of product and customer preference. The divers of globalization market strategies refer to transportation services is globally and with efficient manner. Tariff and taxes are very low and also focuses on product quality and its brand name and one of the major drivers of global market strategies is that demand and supply of the product and services. Supply refer to global agencies and global media and demand refer to global customer and customer preference. In the end most corporations run business that strategies and allocating a majority of funds for regional and local adjustment of communication.
Suggested:Â Unit 3 Develop organisational marketing objectives Level 5 CBC College
2. Application of international marketing
There are something changes in international marketing will be helping to improve the customer of the local market. In this context, international management of new business has used different types of marketing plan of action to improve for achieving new target market in new countries (Berkowitz, (2015)). In international marketing to be used, some factors, which is beneficial for further improvement in current trends will be changed to improve customer relationships.
- Digital marketing : Digital marketing is a new trend is to be used in overall market nowadays. It has helped to improve customer or introduce new technology for further improvement in the rest of the market. In addition, marketing mix strategies must be used to handle such type of condition in the work place. This is assistance to identify the potential traffic on structure website. This is helping to find out how many customers will be reached for it and better marketplace conditions.
- Customer relationship : It has helped to manage work or increase the customer relationship management is improved growing rate of arrangement. Building a human relationship model CRM plan of action means that various client segments will be targeted other than, trust on how they use the companyâs production and services and how often (Eteokleous, (2016)). While a franchiseâs elite client may acknowledge basic cognitive process about special publicity, new trade good on a time period basis or receiving a individualized communication. This helps to manage work or use email, phone calls to manage customer problems in administration.
International marketing mix strategies helped at the time to expand new market in a new country. Some changes will be made as per the need of the current condition of marketplace state of affairs. There are instruments which is used in the marketing mix are product, price, promotion and distribution. On the other hand, the main types of marketing strategies are as follows:-
- Global marketing strategies :- It is based on the assumption that is international market are global market with similar need and preference. This approach is to be used in foreign market company or focus on social and culture environment in those countries.
- National marketing mix strategies :- In national marketing strategies company is to be used new strategies for each and every new country or better the securities' industry conditions.
There are some different product strategies used in international market are as follows :-
- Product :- In this context, the company is to be used UN- changed product in market and product will be prepare has similar utility to customer in the securities' industry. In this kind of strategies is easy to use in the work place and less cost effective (StÃ¶ttinger, (2015)). In addition, new strategies are based on adjustment of the product and profitability as per the conditions on the particular market. It is an important part or require the large amount of capital to
- Pricing :- In pricing policy to be focus on set price as per the need of market condition. Pricing involve the price management on the international scale or improve the condition of profit, productivity and market share (Zeriti, (2014)). This all three factors is give direct link with pricing objective in work place. There is to be used the sprats pricing policy in international market. This is based on as per the need of future goal or modern communication make market easier. It also determines the business relation frequent in the securities' industry betwixt a special companyâs commodity and similar ware of other establishment. The overall demand and profit will be maintained the goods and services or to be used in international market. Some factors are useful like cost of transformation, exchange rate influence and the general economic conditions.
- Distribution :- In this context, to be focusing on some level of distribution is change in international marketing (Berkowitz, (2015)). The main goal of distributing means product is to be delivered to each and every client in the market. To be focused on international sales and production activity will be managed now a day. To be more innovative technology must be used for policies overcome.
- Promotion :- In promotional technology which is to be used in new international market. In the above, collaboration with local people is assistance to understand of each and every customer in market place. The level of distribution is based on which techniques is based at the time of promotion of the product in market place. Promotional message is supported on language to be used for promotional activity. It is reinforced the condition of marketing activity and manage work or improve the productivity and profit will be changes with the assistance of promotional activity (StÃ¶ttinger, B (2015)). A message plan of action used in one administrative district could be violate when used in some other. Every side of message brief inevitably to be analysed followed by preparation. The message to be use in promotional activity is based on country.
All such kind of four steps is use in international marketing mix is to be used in overall forthcoming improvement. The global price and purchasing item is to be used around the world.
Form the above report is based on strategic choice is improved strategic market. In addition, marketing mix plan of action is assist to change particular country. As per the above report globalization is give direct impact on international marketing in business activity. Organisation may suffer take place among multinational corporation and global economic condition is flow of money in the form of flow of investment. In this written report to be focus on international marketing will be help to improve the customer of local market. This report is based on digital marketing is a new trend is to be used in overall market nowadays.
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