Global Marketing Management
Marketing- It means buying & selling (exchanging) of goods and services. It is a process of innovating new goods & services, promoting it and finally delivers to the ultimate customers and firms. It is a process of aiming the resources and motive of the firm on environmental factors. (Keegan & Schlegelmilch, 2001). Global Marketing:
It is a process of planning and carrying on the trading activities across the different countries for exchanging of goods & services so as to satisfy the motive of the individual and the firm. (Czinkota & Ronkainen, 2007) The basic difference between the regular marketing & global marketing is the range of activities. The firm that runs its operations globally, it conducts its operations outside the home country. (Keegan & Green, 2005). The synchronization & incorporation of these marketing activities is carried out at the same time in multiple markets. (Keegan & Schlegelmilch, 2001).Every big firm has a dream to become a global company, to have a global image towards customers, an international trade. To enter into a foreign market the firm must think on market potential, product reliability, more cost required. If the firm is going for the global trade first time then it should deeply consider all the marketing environments. The firm should never neglect the global marketing environment otherwise the firm will always be in the problems. Global Marketing Environment:
It is a difficult configuration of demands and constraints which the organization faces as it tries to face competition and grow. Global marketing environment consists of number of factors which controls the firm’s activities (Bradley, 2005).These factors makes obstacles for the firm to run its operations successfully and gainful relationship with the customers. In other words they are the factors which try to break the smooth flow of the operations.
There are two types of global marketing Environments:
(1) Micro Environment (2) Macro Environment
Micro Environment- It is an environment which has an impact on firm with in the work place of the organization. It is controlled by the firm itself. All its resources, mission & objective, products, etc are controlled by the top management. (Cant et al. (2007)) It includes: 1) Product- Goods & services produced by the firm
2) Competitors-They are the people who are providing services to the market with same goods & services against the firm over which they can get the market benefits. 3) Suppliers- The group of people who supplies raw material for the manufacturing of the products. 4) Intermediaries – They are the middleman who helps in the promoting , selling and delivering of the goods 5) Customers- They are the group of final people for whom the goods are being produced 6) Company- It is an institution where all the business activities take place and it is bind by legal laws & agreement with common seal made by the government. Macro Environment- They are the larger factors which affect all the micro environment of the firm. They are the factor which makes the chances and build the warning to the firm. It only affects the organization from outside forces. (Kumar & Sharma,1998) It includes: 1) Economic Environment
2) Social-cultural Environment
3) Political ,legal and regulatory Environment
Social and cultural environment
Political, legal and regulatory
Economic Environment- The economic Environment surrounds with the economic factors like employment, income level, inflation level, wealth, productivity. They are those factors which affect the financial transactions of the business. These...
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