Globalisation of Markets - Essay Example

Background of the paper In the “Globalisation of Markets,” Theodore Levitt raises the question of corporate behaviour within a globalised market place. The study derives its impetus from the phenomenon of the internationalisation and unification of global markets and clarifies the challenges and opportunities which confront corporations therein. Conceptual framework and theory Levitt’s research is guided by international marketing theory. It is well-worth noting, in this regard, that the term `globalisation’ was first injected into marketing and business literature by Levitt in this article and, accordingly, the study may be identified as the proposition of a theoretical framework for international marketing and business within the context of a globalised world. Therefore, while the study is framed by classical international marketing and business theory, it extends beyond the stated to propose a globalisation marketing theory. Research design and implementation Levitt’s research relies on secondary data, observation and statistical evidence pertaining to the globalisation of markets via technological innovation and the emergence of global products. He does not define his research strategy, nor does he clearly specify his data sources. This, however, does not detract from the value of his study as what emerges is a highly valuable and well-articulated explanation of an emergent market phenomenon. Main conclusions and contribution to marketing literature and practice Levitt concludes that the world has become flat and that corporate entities must tailor their marketing strategies for greater consistency with this new reality. As he contends, the flattening of the world/globalisation, has led to the evolution of the global consumer, with the implication being that consumer preferences are no longer determined by geography and culture. In addition, emergent technologies have transformed economic realities in such a way that national borders are increasingly porous, thereby facilitating the transnational flow of goods and services. It is contingent upon companies to address the new reality, as accurately described and defined by Levitt, if they are to remain competitive within the parameters of a globalised economy while, at the same time, exploit the economic potentials of this reality. Limitations and future research direction Levitt’s article, as may have been deduced from the preceding, emerges as a definitive introduction to globalisation and its impact on international business operations. Levitt provides a precise and concise definition and discussion of this new reality, alongside a prescript for business and marketing strategies therein. He, however, leaves open the question of consumer perceptions of this new reality and whether indeed, tastes have become more transnationally homogenized. This would be a rich area for future research. Background of the paper Levitt’s seminal article on the imperatives for, and rational behind, long-term market planning, was first published in the 1960 and since that time, has been reprinted in excess of a quarter of a million times. This stands as a testament to the importance of “Marketing Myopia,” where Levitt sheds light on corporate tendencies to overlook changing marketing realities, seize opportunities for market growth and, in short, atrophy. Conceptual framework and theory Levitt does not adhere to a defined conceptual framework nor does he draw upon specified theories to present his argument. Nevertheless, it is possible to identify his theoretical framework as based on market evolution theory. Main conclusions and contribution to marketing literature and practice Business entities have long operated under the assumption that exponential population growth will ensure the continued growth of markets. Not only does Levitt debunk what he calls the “population myth” but goes on to warn that companies have failed to design and implement marketing strategies which would ensure the positive exploitation of existent markets. Indeed, through the citation of empirical evidence, Levitt concludes that myopic marketing strategies which have failed to account for technology’s drive and its impact upon markets and economies, business firms have limited their markets. In other words, their failure to design and deploy marketing strategies which address the long-term, just as they do the short and medium ones, translates into a risk of irrelevancy. This means that changes in the market and the failure of organizations to embrace them has the potential to render organizations irrelevant to their markets. Limitations and future research direction Levitt captures the essence of the market problem which countless corporations fall victim to. This problem may be defined as lack of dynamic reaction to, and interaction with, an ever-changing, continually developing and persistently mercurial market. Future research could expand upon Levitt’s argument through the proposal of a generic market strategy which is designed to facilitate and ensure dynamic responsiveness to market changes and the technological developments which impact it. Background of the paper In 1969, Kotler and Levy published “Broadening the Concept of Marketing,” in which they agitated for the reconceptualisation of the marketing construct through the embrace of its inherently social dimension. Within the context of the stated, Kotler and Levy explore the social nature of marketing and especially as it pertains to non business, or not for profit, organisations. Conceptual framework and theory The theoretical framework derives from traditional marketing, social and organisational theory but extends beyond the three to propose a somewhat novel approach to marketing. It is, thus, that the purpose of this study can be identified as the proposal of a conceptual framework, however rudimentary, for non profit organisational marketing. Research design and implementation The study is solidly grounded in secondary literature, both theoretical and empirical. There is no well-defined research design but it may be identified as a review of the literature for the purposes of augmenting an argument for the reconceptualisation of the marketing construct and the subsequent proposition of a marketing blueprint for not for profit organisations. Main conclusions and contribution to marketing literature and practice Kotler and Levy break down the marketing construct to its various constituent elements, from market segmentation to product development and consumer tastes to consumer behaviour. The purpose of doing so is not the reiteration of the implications of the marketing construct but the clarification of its inherently social nature. As the authors conclude, marketing is a social phenomenon whose purpose, in part, is to open lines of communication between the organisation and the society within which it is located, or serves. Drawing upon this definition of marketing, Kotler and Levy note that it clarifies the imperatives of marketing for not for profit organisations. Marketing is not just geared towards sales but organisational visibility and communication with its external environment and, it is precisely because of this that it is an activity which not for profit organisations must embrace. Limitations and future research direction While the article very accurately identifies the imperatives of expanding the marketing construct and of utilising marketing principles and strategies for non profit organisational communication with the external environment, it is limited by the failure to propose such a strategy. This limitation should be addressed in future studies which do precisely that – outline a social marketing strategy for not for profit organisations. Background of the paper In “Early Development of the Philosophy of Marketing Thought,” Jones and Monieson explore the philosophical roots of the marketing construct. In order to comprehend the implications of twentieth century market, its potential as well as limitations, the authors maintain the imperatives of critically exploring that from which marketing emerged. By understanding its original conceptualisation, both marketing scholars and students would be better positioned to understand its current usage. Conceptual framework and theory The research unfolds within the parameters of an institutional, historical approach. As may be deduced from Jones and Monieson’s discussion on this particular approach, it is optimally suited to the purposes of the study. Optimal suitability is a consequence of the authors’ data sources (early university course material), the study’s purpose (examining the roots of marketing) and of the study’s locus (academic institutions). Research design and implementation The authors very clearly identify their research model and approach. As they explain, the study adheres to a historical research strategy, involving the collection and analysis of primary data. Their data sources are limited to the University of Wisconsin and Harvard University and, more specifically, to the material used in the design and teaching of the very first marketing courses ever offered. Main conclusions and contribution to marketing literature and practice Jones and Monieson’s investigation of the philosophical roots of marketing evidences North American economic, German historical and progressive philosophical roots. Certainly, the graphical representation of the discipline’s intellectual genealogy with which the authors conclude their study testify to the discipline’s very rich intellectual heritage and the authors’ identification of three primary roots does not negate the presence or contribution of others. It does, however, serve the very important purpose of directing attention to the philosophies upon which the construct is primarily predicated upon. This, in itself, invaluably contributes to our understanding of the marketing construct, its usages and its evolution. Limitations and future research direction While Jones and Monieson provide their readers with a solid overview of the historical evolution of the marketing construct and the philosophical roots of marketing as an academic discipline, the study remains limited by its failure to articulate the precise relevancy of the stated to contemporary usages of marketing tools. Indeed, future research should explore the ways and means by which the philosophy of marketing can contribute to the more effective and result-oriented utilisation of the discipline within the contemporary business setting. Background of the paper Identifying a gap in the marketing literature in relation to the marketing construct itself, Kohli and Jaworski sought to address the said gap through the publication of “Market Orientation: The Construct, Research Propositions and Managerial Implications.” As they explain, veritable tomes have been writing about marketing but very little about the concept itself or the implementation of a marketing strategy. Kohli and Jaworski direct attention to this oversight in consideration of the unqualified importance of marketing to organisational success. Research design and implementation Kohli and Jaworski adhere to a mixed method approach. They begin by reviewing the marketing literature over a thirty-five year time span for determination of the validity of their `gap’ claim. They find that, indeed, marketing literature has devoted very little attention to the implications of the construct or its implementation. Following from that, they collect primary data from 62 corporate managers across 4 U.S, cities for the purposes of determining whether there exists a need for a marketing implementation theory or not. The interviews also served as a data collection tool for the parameters of the proposed implementation theory and a general blueprint for that which it should cover, or include. Main conclusions and contribution to marketing literature and practice Through a review of the literature and the analysis of the primary data collected through interviews, the authors initially posit two conclusions. The first is that there is a gap in the marketing literature as regards the implications and implementation of the construct and the second is that there is a need for the explication of the former and the proposal of a framework for the latter. When discussing the constituents of a potential marketing implementation models, Kohli and Jaworski emphasis the imperatives of its embrace of supply and demand. While the concede to the fact that the marketing literature has never established a correlation between the design of a marketing plan and market supply and demand, they argue it to be an imperative where both the design and the implementation of the plan are concerned. Quite simply stated, a consideration of supply and demands allows for a more informed market orientation and, accordingly, maximises the marketing plans for success. Limitations and future research direction As the authors themselves admit, their study is limited by the failure to engage in the development of a marketing implementation model. This is precisely what future research should address. The development of a generic marketing implementation model would invaluably contribute to the successful implementation of marketing strategies and, accordingly, is needed. Background of the paper Laczniak derives the impetus for his article, “Framework for Analysing Marketing Ethics,” from the importance of ethics to the marketing discipline and practice. Practitioners, academicians and marketing managers have devoted, and are continuing to devote, significant space to the question of ethics in marketing and strategies for ensuring marketing’s adherence to ethical guidelines. Several infringements, however, have occurred despite the fact that marketing management decisions are invariably guided by a concern for ethics compliance. To facilitate the said decision-making process and to better ensure a strategy for the evaluation of a marketing plan/strategy/tactic’s ethical dimension, Laczniak proposes a framework for ethical evaluation. Conceptual framework and theory The study adheres to a philosophical conceptual and theoretical framework, borrowing from all of the utilitarian, Kantian and professional ethics philosophical systems. Research design and implementation Lazniak follows a literature review approach. He critically analyses several ethics frameworks for the purposes of identify that which provides for the relatively uncomplicated but comparatively accurate evaluation of the ethical parameters of a marketing campaign/advert. Main conclusions and contribution to marketing literature and practice While the researcher finds that the ethics systems and frameworks reviewed all have their unique strengths, he concludes that none fulfil the precise purpose of analysing marketing ethics. It is thus that he devises a theory for marketing ethics and uses that theory for the subsequent proposal of a rudimentary framework for analysing marketing ethics. This last has enormous contributory value to marketing practice as it provides managers with a well-articulated guideline for the evaluation of the ethics of proposed campaigns/adverts. Limitations and future research direction The study fulfils its stated objectives of determining whether or not there exists a need for a marketing ethics evaluations framework and for proposing the outlines of such a framework. It does not, however, test that framework and this is a potentially important area for future research. Read More