The standardization of the marketing interaction sets a bench mark upon the company by the company itself as it will market in a standardized and planned manner irrespective of the economic conditions prevailing in different markets. The offers that the company make to the customers should be globally available to all of the customers around the world. This will set standard for the company as to operate with more efficiency as the target market that they are covering does not restricts to a single economic conditions but the company will be operating internationally and thus will have to perform accordingly. Companies when operating internationally are competing internationally at the same time. Companies faces much intense and severe competition when operating internationally as the quantity of competitors increase and so do the level of competition. Standardizing the offerings and marketing interactions strengthens the brand around the world and thus enforces a self-level of standardization so as to maintain the company image and brand worth. World is now a global village. The businesses operates around the globe. Multinational way of operation is encouraged and almost every business is aiming to go global. When the business is multinational it faces many things. The diversified market, customers, products, laws and regulations, work force and many more (Hamilton & Wood, 2009). Due to this globalization, one of the major factor is the diversified labor that is available to the businesses. Socializing The world is going global with intervention and advancement of technology. Technology has removed many of the barriers and economic boundaries thus enabling companies to operate internationally. Consumers and potential customers are easy to reach. Access to different parts of the world is possible with much ease. In this modern era the scope of the business is limitless as there are a range of opportunities for the businesses to avail and in order to fully utilize the resources the businesses need to be socially active so as to determine the possibilities and opportunities on timely basis and get advantage out of them. There are many platforms where a business can publicize and advertise on the social networks provided by the technology. Social interactions is essential so as to remove the barriers and make the new possibilities utilizable in a sense that benefits the most. The social networking of a business is crucial for its growth as it creates the brand worth and highlights and make people aware of its products hence providing an effective source of marketing (Holden, 2004). Social media is transforming the way business is carried out. A recent study by the Internet Advertising Bureau UK found that nearly 80% of consumers would be more inclined to buy more often in the future because of a brand's presence on social media. Social media is one of the major source to market every kind of product. Companies make websites and share their links on social networking websites so as to make their advertising more effective and beneficial. The social websites has millions of users and hence millions of potential customers for the businesses which advertise their products on those websites. It is the advancement of the technology that made social networking
Table of Contents Introduction 3 Socializing 3 Globalization 4 Competition 5 Marketing 6 Human Resource 8 Conclusion 9 References 11 Introduction In this globalizing world the competition is not limited to one state or country it has gone global as companies operate internationally in different countries and economies tackling all the economic challenges that they face in order to achieve their goals and visions…
Messengers, who generally travel by bicycle, maintained one consistent problem: when attempting to deliver their goods and services, the riders always found their bags wet. The Freitag brothers set out to design waterproof, functional and heavy-duty bags that would withstand the elements for this specific purpose (Freitag.ch 2012, p.1).
Most often, innovation is conducted as a private activity within an organization in a series of narrowly managed steps. Keeping in mind the importance of marketing and innovation, companies must understand their product to be able to market them. According to Bill Campbell in an interview, only engineers know the information that they should get and deliver about the product they have produced and only effectively communicating that information to the customers would yield desired results.
Such conditions include the policies of operation, the standards of goods, and other conditions that determine the kind of services and goods that a company uses to operate (Dana, 2006, p. 30). One of the challenges of standardization is that the international market is controlled by different strategies and conditions.
Contents Contents 2 Introduction 3 International Marketing strategy 4 Standardisation of offerings 6 Standardization of marketing interactions 8 Effects of standardization strategy on business performance 11 Conclusion 13 References 14 Introduction The advent of globalization has brought some dramatic changes in the international markets.
With Russia having approximately 100% literacy rate, over 140 million people, a growing economy and enormous reservoirs of natural resources in its expansive land mass, it provides an appeasing market for many businesses. However, even after appreciating these aspects, it is crucial for businesses seeking to expand in this market to understand the various macro and micro influences of doing business in Russia.
As we will show, both were right in some ways, and both were also wrong in other ways.
To conduct our analysis, the views of each author would be analysed using a framework that looks at how they perceive the marketing concept, the marketing function, and the customer.