Digital Revolution in Global Marketing - Essay Example

Digital Revolutions (6) Table of Contents Table of Contents 2 Introduction 3 Digital Revolution in Global Marketing 3 Conclusion 7 References 8 Introduction In the contemporary era, technological implementation has become more common to mostly every aspects of the society. In the business sector adoption of technology has become a revolutionary event that leads the business industry into another level of growth. It is also defined that innovation of technology within the business sector is recommended to be a positive impact over the business process. Specifically, the impact of digitalisation is prominent as a large number of companies are incorporating the same within its marketing domain is recommended as an encouraging efforts for building a successful business process. It has been observed that owing to implementation of advanced technology in the global market has become more effective in nature (Crown, 2015). The principle aim of the study is to describe about the positive impact of adopting digitalisation within the existing marketing process. Apart from this, the study will also describe how digitalisation can be helpful in building effective global marketing strategies. Digital Revolution in Global Marketing The digital revolution is recognised to be incorporated within the global marketing strategy during the third industrial revolution, which has made a positive impact over the global economic development. The business industry has become more cautious regarding the application of the same. It has been stated that by implementing the digitalisation within marketing strategy companies are more able in developing effective connection with the costumers. It has been also observed that the traditional ways of marketing are unable to create connection with its customers. In this regards the marketing practitioners have become more eager to adopt the digitalisation within their marketing strategies. Therefore, several companies have launched new strategies of handling online marketing segments, which will facilitate the companies to generate more customers as per the needs of the global marketing segments (Breene & Whipple, 2011). In this regard, the creation of electronic commerce industry has become more active participant for the development of new business circle. Most of the marketing practitioners consider e-commerce industry as a popular domain among the mass media as well as informatics circle also. It has been noted that the implication of e-commerce industry are playing an important role for developing the financial services as well as retail industry as well. Correspondingly, it can be stated that the digital revolution in the global business encourages adoption as well as practice of online marketing to enhance the domain of performances. According to a survey conducted in the specific field, it is evident that approximately 142 countries around the world are being benefited by adopting information and communication technology within their business processes. The diffusion of digitalisation in the business process has developed to a larger number within the business practices of a developing country (Garnham, 2005). It has been observed that after the technological implementation in the daily life people are becoming technologically sound. This changed situation has led to online trading business. It is also stated that the imposition of online trading of stocks as well as online dealing in other financial instruments are even prominent with the development in the concepts of digitalisation . Apart from this the online banking as well as online retailing has become a more innovative approach for developing the bushiness process that are prevailing within several companies. Currently, the online banking or net banking series has become more popular with the increase in the number of customers who are having busy schedule and fails to visit banks during the working hours. Thus, online banking is noted to be gaining momentum in the diversified era of digitalisation and technical soundness. Correspondingly, imposition of online services in the business industry such as in the retail services has grabbed the attention of majority of employed people. It will be worth mentioning that online shopping industry has been able to connect with majority of people as well as been able to generate more revenues for the business (Gunasekaran, Marri, McGaughey & Nebhwani, 2002). The digitalisation has brought revolution in the global marketing concepts, which has been able to make changes within the marketing structure. It is found that people are getting comfortable with the use of internet rather than following the traditional methods of marketing. By taking this context in to account, most of the companies have started developing online marketing strategies to meet with the diversified needs of the consumers. It has been found that most of the companies are trying to establish own online websites for creating new customer base. It is also stated that digital revolution has imposed new strategy that is identifiable with the strategies incorporated within the domain of e-commerce, which has changed the scenario of the global marketing. Particularly, e-commerce process has implemented a new method of business through the electronic medium between several entities of business for satisfying the organisational as well as individual objective. Based on the above strategies, companies started to apply online promotional strategies that have lead those companies into the global platform (Gunasekaran & et al., 2002). The global market was benefited due to excessive practice of digital marketing techniques. After the implementation of digitalisation within the business process, the product promotion process has been benefited to a greater level. The implementation of digital marketing in the international business has generated a competitive advantage in the business sector. On the other hand it can be described that digitalisation is not single oriented but it also used in providing the customer services for getting more references from the same. Digitalisation has changed the global marketing concepts by creating strong customers relationships. By accessing online service providers, customers can learn about products as well as product related details through the different portals (Jarvinen, 2011). The online marketing strategies within the domain of international tourism sectors has become more benefited as well as able to serve more customers within their domain of services. The online travel agencies are benefited by serving the international clients through their online serving portals. In this context, the hotel industry has imposed their online websites for facilitating majority customers in order to enhance their business as well as revenues in the global domain. As per the point of view of a large number of market practitioners, digitalisation in the business process has also enhanced the level of employment facilities within the society. By incorporating digitalisation in the market, opportunities for jobs have even enhanced to a greater extent, which is even noted to be capable of eliminating unemployment rate from the market (Garnham, 2005). Moreover, due to digital revolution in the global market continuous economic growth has been observed. It is also stated that MES market is recognised to be most promising sector, which ensures ongoing growth of the middle class sector of the society as well as intra-regional trade all over the world. Due to digital revolution, companies are able to enhance its business model without making any vital changes in the basic business model. In order to cope up with new enraging digital trend companies are adopting diversified business model that would facilitate the development within the global edge. Digitalisation in the recent business model has been reflecting on a tremendous growth within the prevailing global market. After the implementation of Mobile commence, smart infrastructure as well as business intelligence has been able to generate more customers for the company. Correspondingly, digitalisations in the global market are efficient in reshaping the customer interactions in alignment with the existing business processes (DKSH Holding Ltd, 2014). Conclusion By reviewing the overall study, it is apparent that imposition of digitalisation within the business industry is recognised to be a revolutionary impact on the globe. Due to imposition of technology in business process, it has been observed to be facilitating numerous companies to be exposed in the global platform. It is also observed that digitalisation within the business processes has even influenced product promotion as and positively raised revenue earnings of several companies. From the study, it has been noted that modern people prefer online trading more than the traditional way of trading. It also concludes that after the digital revolution the global market benefited through nurturing huge earnings. The global economic conditions are becoming stronger after the implementation of digitalisation in the global market. References Breene, T., & Whipple, B. (2011). Melding marketing and IT are you ready for the digital revolution? Documents,1-8. Crown. (2015). The internet of things: making the most of the second digital revolution. A Report by the UK Government Chief Scientific Adviser,1-38. DKSH Holding Ltd. (2014). Digitization and the market expansion services industry: driving OMNI-channel growth. Fourth Global Market Expansion Services Report, 1-60. Garnham, N. (2005). An analysis of the implications of the “creative industries” approach to arts and media policy making in the United Kingdom. International Journal of Cultural Policy, 11(1), 15-29. Gunasekaran, A., Marri, H. B., McGaughey, R. E., & Nebhwani, M. D. (2002). E-commerce and its impact on operations management. International Journal Production Economics, 75,185-197. Jarvinen, J. (2011). The impact of digitalization on marketing communications measurement process. Case of Global B2B Industrial Companies, 1-136. Read More