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role of religious moality in business ethics
religion in business situations
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Solid Global Marketing decisions involve months of research. They also include a high degree of planning and internal strategizing. Factored accounts in the strategies are where the organization would like to be in three years, target audiences, spending and profit margins and eventually how to achieve the companies' ultimate goals. Advanced planning gives a number of advantages: Helps coordinate activities Helps prepare for emergencies Gives activity continuity Integrates functions and activities Helps in a continuous review of operations. While planning is an important part of any successful campaign, there are some considerations which are vital to the successful launch of a product domestically and globally. Some instances are identified in the following table: Domestic Planning International Planning 1. Single language and nationality 1. Multilingual/multinational/multicultural factors 2. Relatively homogeneous market 2. Fragmented and diverse markets 3. Data available, usually accurate and collection easy 3. Data collection a large task requiring significantly higher budgets and personnel allocation 4. Political factors relatively unimportant 4. Political factors frequently vital 5. Relative freedom from government interference 5. Involvement in national economic plans; government influences business decisions 6. Individual corporation has little effect on environment 6. "Gravitational" distortion by large companies 7. Chauvinism helps 7. Chauvinism hinders 8. Relatively stable business environment 8. Multiple environments, many of which are highly unstable (but may be highly profitable) 9. Uniform financial climate 9. Variety of financial climates ranging from over-conservative to wildly inflationary 10 Single currency 10. Currencies differing in stability and real value 11 Business "rules of the game" mature and understood 11. Rules diverse, changeable and unclear 12 Management generally accustomed to sharing responsibilities and using financial controls 12. Management frequently unautonomous and unfamiliar with budgets and controls (http://www.fao.org/docrep/W5973E/w5973e0h.htm) One of the factors identified in the above table was political. Political factors are an important aspect to be concerned with when controlling marketing decisions. The Iraqi war has been portrayed several different ways by the media, both in the US and around the world. Domestic marketing decisions are fueled by the post 9-11 and Iraqi War pro-America, pro-patriotism, and pro-military movements. (Allow me to specify there is an enormous difference in being pro-military and not pro-Iraqi War.) Many marketing geniuses took the time to say "thank you to our country's troops with special military fares and discounts. One of these companies was Ford Motor Corporation. Ford offered a military discount which equaled the employee discount it is currently promoting. It was advertised in newspapers, on television, and highly visible on US military installations. However, this ad was based strictly in the continental United States. The decision against broadcasting it in European countries was based on the unpopularity of the Iraqi War, and more importantly the increasing lack of support of President Bush.
(Yoder-Wise, 2015) During the process of planning you need to assess your internal and external environment, identify any opportunities and threats. Then you want to create your plan and identify your goals and objectives, implement the plan and lastly you evaluate and make any necessary changes. In strategic marketing, you want to identify your target market and research it. When planning you identify your strategies and objectives you identify what services you will provide and at what cost an how you’re going to market your plan. You can evaluate by getting feedback from consumers through different
For most ambitious companies in today's complex business environment, gaining competitive advantage and achieving expansion in capacity often requires internationalising operations and entering new markets with the goal of building a broader and more diversified customer base. However, internationalisation typically presents the problem of how to establish the company’s business or brand in a foreign market, considering the cultural and contextual differences in global markets (De Mooij, 1998). Due to the spread of globalisation and the convergence of markets and economies, it has been increasingly acknowledged that a broad range of products and services can potentially have a global appeal and generate considerable revenues across the world. As long as the marketing activities designed to promote products and services are tailored to suit respective markets in line with the prevailing cultural and environmental realities, there is every possibility of achieving commercial success (Kandampully and Duddy, 1999). Accordingly, global marketing requires a flexible framework or structure that enables companies to respond dynamically to observed differences in the respective markets in which they do business (Philip et al., 1994). This makes it possible to organize, plan, and control global marketing activities effectively and efficiently (Keegan, 1989). This report therefore focuses on the marketing activities of the furniture market, specifically on two leading international furniture manufacturing and retailing companies: IKEA and Ashley Furniture Industries, with a view to establishing the kinds of marketing activities they have adopted to establish their presence in specific countries.
Sakarya, S., Eckman, M. & Hyllegard, K. H. (2007). Market Selection for International Expansion - Assessing Opportunities in Emerging Markets. International Marketing Review, 24(2), 208-238.
This paper will be about Walmart’s domestic and global marketing. The paper will be identifying the environmental factors that affect Walmart’s domestic and global marketing decisions and many other marketing decisions. Walmart itself has about 11,000 retail units in 27 countries. They employ 2.2 million associates around the world with 1.3 million associates being in the United States (Walmart, 2014).
Facing to more complex business environment, systematically marketing plans are important to organizations in terms of maintaining a high level of operating efficiency and achieving goals fully. According to Sally and John (1996:3), marketing plans are “the written document or blueprint for implementing and controlling an organization’s marketing activities related to a particular marketing strategy” (Sally, D., Lyndon S., & John, B., 1996: 3). A successful marketing plan is able to improve organizations’ profits and growth, uses in objective setting and monitors results (Subash Jain, Michael D. Clemes, Gregory Brush, 2008: 5)
Given the product, personal selling would not be a part of our marketing plan. Personal selling would involve the customer being met in person by a representative of the company (Gillespie and Hennessey, p. 407). Given our plan of extensive distribution, this seems like too much for a grocery snack. However, personal contact is extremely important to the Asian culture and it could be something worth pursuing in the future (Onkvisit and Shaw, 2009). It might be better for personal contact to come through a different source that is not our company; rather, a person or source steeped into the culture. When personal selling does happen in South Korea, it is a general rule to be modest and humble.
Strategic planning is done by the highest levels of an organization that goes threw three major phases. These phases include the formulation phase, the implementation phase and the evaluation phase. () These all play a great role for making the best possible way to carry out an action. The formulation phase is when a plan is initially developing and thought about as a way to help a business. The implementation phase is when the plan that was thought of is carried out. The evaluation phase goes over the success or failure of the plan and what could be changed and what shold have been done on the first place that could have helped the plan work. In order to come up with a plan, there must be a reason for it. This is known as the m...
In a classic Harvard Business Review article, the late Theodore Levitt (1983, p. 92) lyrically expressed his views about the globalizations оf world markets:
If a company has set its objectives there is need to look into the following. Which countries are their target market and who are the consumers and how or which marketing strategy should they use to reach the consumers. The company needs to know what products are best for their chosen customers and if there may arise a need to adjust the company should be ready for it. The other thing they should consider are the import regulations in their country, market and the global rules also should focus on the competition involved looking...
The first step in international marketing is deciding whether to go abroad. At this step, companies must weigh the pros (better profit opportunities than domestic markets, larger customer base to achieve economies of scale, can reduce dependence on any one market) and cons (company might not understand foreign preferences, business culture, or regulations) of international business and also their company’s situation (size, financial resources, HR, expertise, experience). If they decide expanding internationally is a viable option, they must then decide which market(s) to enter. This is a very important question for a company to address and I will keep it short for the outline portion of this answer but will get into more detail later.
The current business environments require firms to be highly aware of expansion of the global market. Entering a new market without sufficient understandings and preparation is never a good choice of companies to further their endeavor. Accordingly, a firm should take deliberate steps to analyze and recognize promising targets. For a company, especially an SME, the market research is an important issue that firms need to deliberate due to the limitations of its resources and capabilities. Researching the potential export markets is the significant preparation that needed to carry out prior to entering an overseas market because not many companies really comprehend geographical, social, economic facts of the foreign countries in comparison with the home countries (Cavusgil, 1985). Besides, researching for the international market opportunities is not a discrete activity, but a combination of collecting, analyzing, and concluding data logically.
In the process of creating a marketing strategy it must consider many factors. Of those many factors, some are more important than others. Because each strategy must address some unique considerations, it is not reasonable to identify 'every' important factor at a generic level.
International marketing challenges: The issues faces by organizations by using standardized marketing strategy across culture
In today’s society nothing is confined to just one country, everything is global. With everything being global, were seeing companies that have attained global recognition, and are known on every corner of the globe. It is no accident that companies, like McDonalds, Apple, and Coca-Cola, are known everywhere. These companies have mastered the most important aspect of reaching global markets, and that is global marketing. Global Markets are not all the same, they vary from one country to the next. And while a marketing campaign maybe successful, in for instance the United States, it could be a disaster in another
Nations, like the people who inhabit them, are all different. Some, like the United States, are at the forefront of technology and development. Others exist as third world nations, where even the most basic necessities are hard to come by. And then there are those which are in the middle, such as India. In the past 20 years, India has grown in the eyes of the global community from a rural, developing nation to a burgeoning global marketing hub. While India had much guidance from the United States and other global powers, the country has still chosen to follow its own path of business and marketing development. This paper is designed to evaluate India's current marketing environment in comparison with the marketing environment here in the US, citing both nation's similarities and differences.