1. Proposed working title
Global Marketing versus Domestic Marketing- a critical Evaluation.
2. Research Background/ Context
This research is focused to understand how a Global company is able to adapt to different marketing situation that is existing in different countries. A company can said to be Global if it can sell its products at a reasonable price with a dependable quality in every nation it serves. The concept of Global Marketing is viewing the entire set of countries markets as one unit and then developing a marketing plan through cost standardisation.
When developing a plan the researchers have to understand both controllable and uncontrollable elements of business (Kotler, 2006) that is existing in respective countries. This research also tries to understand how various trade agreements like GATT (General agreement on Tariffs and Trade) has helped to liberalise the business practices worldwide and how it has helped in the development of global market.
The proposed study tries to address the topic by looking into HSBC Bank plc, one of the world’s leading organizations in banking sector and investment sector, studying their operations globally as well as in their local markets.
3. Organization Background
HSBC Bank plc is one of the world’s largest banking and financial services organization. HSBC have got 8,500 offices in 86 countries around the world. HSBC Bank Plc is known as the ‘world’s local bank’. It is one of the very rare banks that has sustained and proved to be profitable in this time of recession.
HSBC have a pedigree that is absolutely unique to it. Many of its principle companies were established before centuries. HSBC Group is named after it founder member The Hong Kong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between China and Europe. Its headquarters is at London.
4. Rationale for the Chosen Topic
As a marketing student I felt the need to understand how business works globally and domestically and what are the different factors I need to understand how to run a business successfully in different market situations.
I have chosen the topic ‘Global marketing versus Domestic marketing-a critical evaluation’ as my research area to understand
• The complexities of business
• Competitions that is existing in Global and Domestic market.
5. Research Objectives
Scope and concept of marketing is very vast. In this globalised world to understand the complexities of marketing is very important. Domestic markets face many threats from global players and also on the same time it is difficult for any global companies to enter into domestic markets as the taste and preferences of customers, differ from country to country. In this research the researcher will try to understand how complex these environments are and how it responses in the present scenario and how HSBC BANK PLC is able to adapt to various market conditions especially in regards to U.K market.
1. To know how HSBC Bank Plc was able to cope up with uncontrollable elements in different marketing environments around the world.
• Social factors
• Economic factors
• Cultural factors
• Political and Legal factors
• Technological factors
2. To understand the competitive strategy of HSBC bank and how it secure particular competitive advantage over competitors in the market.
3. To understand the marketing mix adopted by HSBC globally.
6. Literature Review
In this research Keegan (2004) is extensively used. In his book “Global Marketing management” he has clearly mentioned what is the difference between domestic and global markets. Also of Drucker (2004) is also used as clearly mentions what is the different kinds of environment that affects the business (external). To understand how firms can gain competitive advantage in global scenario Porter (2008) is also used...