Impact of Environmental Issues on Global Marketing

Impact of Environmental Issues on Global Marketing

Introduction

The term “Multi-national Corporation” has been coined since organizations have broadened their territories through entering in to other regions of the globe. The importance of globalization has increased much in the modern era as large organizations started to look for international market share rather than market share of their native country. On one hand, it has provided lot of opportunities for the companies in terms of global reach and profitability. However, on the other hand, the increasing trend of globalization has also created lot of issues for the managers of the organization.

There are lots of other factors that they need to consider while designing a global marketing plan for their company. The global marketing plan tends to be more complicated as compared to the marketing plan designed for the company's own native country. There are several key issues that need to be considered for global marketing plan, such as environmental, cultural, political, legal, and social factors. This paper will be focusing on those key issues related to designing global marketing plan. The paper will relate global marketing plan while considering the strategies, and also considering the fact that how it has impacted the overall productivity of the organization as a whole. The strategies that need to be focused while elaborating the main topic of the paper will include; global marketing research, global segmentation and positioning, global marketing strategies, global market entry strategies, and global marketing mix strategies (product, price, placement, promotion). But, first it will be highlighting the concept of globalization and the issues related to global marketing.

Concept of Globalization

It has become a captivating phenomenon for organizations especially marketing managers to market their products and services in numerous countries around the world. The concept of global marketing has widely been acknowledged by the authors and researchers as the imperative one for the success of organizations. Global marketing can be defined as strategies used to achieve benefits of globalization over the competitors, reduction in the overall cost of the organization, improving efficiency in providing quality products and/or services to the customers, and also increasing competitive advantage of the organization in global aspect. People sometimes relate the concept of globalization with import and export of products; however, it is just one part of the entire global marketing concept, and is as important as the other parts of the global marketing.

There are lot of individuals who remain unable to draw a distinction between the two terms; international business and internal trade. However, they both are entirely different concepts. On one hand, international trade is known as the import and export a country does, whereas, on the other hand, international business involves the expansion of business to the other region of the world. It is broader term as compared to the international trading. In fact, international trading is the integral part of the international business, which also includes foreign production.

Global marketing has also provided the organizations an opportunity for the recognition on wider ...