Global Marketing
Culture is one of the most important considerations in today’s global world (based on Lee and Carter 2012).
Critically appraise how marketers can manage both the local and global (glocal) cultures when planning their marketing operations. Consider the macro environment as well as the impact of culture on buyer behaviour.
A country’s culture is a part of it, which has been there through generations.
Today, we are able to communicate and share our cultures through travel and trade. The world is now a huge global economy where one change in one part of the world can affect the economic conditions worldwide.
Through Globalization, we can see the ongoing change in front of us and how the world is now becoming increasingly interconnected. As per which, the world is now massively interconnected and is ever growing from the increase in trade and cultural exchange all around the world.
Earlier there were big companies, which played a monopoly role in certain areas of the world, these firms are no longer restricted locally and have expanded internationally and become multinational corporations with its branches spread across the globe.
As the world is becoming more and more interconnected big companies are no longer national firms but are now turning into multinational corporations with subsidiaries in many countries.
While considering this transformation, two of the most successful theories in context to the Hospitality and Food and Beverage industry have been that of “Glocalization”. When we look at a global market and its functioning, and combine it with the local trends and form a blend between the two, it is called Glocalization. It is a concept, which involves the global and local dimensions of any strategy, i.e., cultural values, religious values, political conditions, etc. In order to make an impact and have a successful venture in any country, the multinational companies must first learn how to think locally. Taking India into consideration, one of the
Critically appraise how marketers can manage both the local and global (glocal) cultures when planning their marketing operations. Consider the macro environment as well as the impact of culture on buyer behaviour.
A country’s culture is a part of it, which has been there through generations.
Today, we are able to communicate and share our cultures through travel and trade. The world is now a huge global economy where one change in one part of the world can affect the economic conditions worldwide.
Through Globalization, we can see the ongoing change in front of us and how the world is now becoming increasingly interconnected. As per which, the world is now massively interconnected and is ever growing from the increase in trade and cultural exchange all around the world.
Earlier there were big companies, which played a monopoly role in certain areas of the world, these firms are no longer restricted locally and have expanded internationally and become multinational corporations with its branches spread across the globe.
As the world is becoming more and more interconnected big companies are no longer national firms but are now turning into multinational corporations with subsidiaries in many countries.
While considering this transformation, two of the most successful theories in context to the Hospitality and Food and Beverage industry have been that of “Glocalization”. When we look at a global market and its functioning, and combine it with the local trends and form a blend between the two, it is called Glocalization. It is a concept, which involves the global and local dimensions of any strategy, i.e., cultural values, religious values, political conditions, etc. In order to make an impact and have a successful venture in any country, the multinational companies must first learn how to think locally. Taking India into consideration, one of the