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The importance of marketing to organization
Pages 16 (4016 words)
Advances in technology in developed countries as well as the opening of markets in several developing countries in recent years have led to a worldwide trend toward globalization, increasing the importance of marketing to organizations in the new economy. 'Globalization' refers to "the movement of people, goods or ideas among countries and regions" (Coatsworth, 2004) as it happens on an accelerated rate and is used to apply primarily to the expansion of markets and the growth of corporate competition on a worldwide scale…
For many companies in today's business environment, the marketing process is largely centered upon the concept of brand building, which is employed through every phase of the marketing process.
There are numerous challenges to be faced when a company determines to market in a global economy, even when they plan on conducting business on a strictly local level. One of the major challenges is trying to find a means of communicating to a variety of cultures through the means of a single message. Every society has its own standards and concepts of what is acceptable and what is motivational. While Americans seem to respond well and quickly to ads that celebrate individualism such as a Nike ad in which a soccer team disrupts normal activity at the airport (Nike Football Ad Airport Scene, 2006), Segal (April 2008) reveals the irresponsiveness of Chinese consumers to these kinds of appeals. For the Chinese, these ads only have an effect if, like McDonalds ads that capitalize on a Chinese cultural belief that beef acts as an aphrodisiac, it promises some kind of payoff (Segal, April 2008). Technology has assisted in these areas, though. ...
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