Global Marketing Issues - Assignment Example

?Global Marketing This paper intends to critically appraise regarding how marketers can manage both local along with global culture when planning their marketing operations considering the impact of macro environment and culture on buyer behaviour. Business organisations are often seemed to be facing different challenges along with issues in relation to social, political along with environmental settings. In this regard, modern organisations are required to conduct adequate market research in order to perform business activities in a profitable manner. Global marketing plays an imperative role for business organisations to perform their respective operations with better opportunities relating to cultural awareness and resource availability. Culture is recognised to be an essential factor which imposes considerable impact upon the entire performance of the organisations (Lee & Carter, 2009; Bardhan & et. al., 2006). Culture is recognised to be an essential element on the basis of which the different magnitudes of human behaviour are determined. Culture comprises different elements that include belief, morals, knowledge, art and customs among others. These are various elements that depict the culture of a particular society. Moreover, culture is based on different macro environmental factors including social, economic, political and religious beliefs. In this regard, people of a society develop cultural values, behaviour and beliefs on the basis of the aforementioned factors (Soares & et. al., 2007). Culture is based on various concepts such as attitudes, values and ideas through which people perform various actions in a society. The cultural values and beliefs are usually shared amid the people of a society according to which individuals develop their ethnic values and purchasing behaviour (Belshek, 2004). Global marketing is often regarded as an appropriate strategy which adopt by business originations with the intention of conducting diverse operational functions effectively on a global context. Presently, there are various factors that can be viewed to be responsible for business organisations to execute their respective operations successfully in overseas business market segments. In this regard, these factors comprise minimised or unrestricted trade barriers, multilateral agreements in relation to trade activities and prevalence of common business market conditions. Culture is often recognised to play an imperative role in supporting the organisations towards making effective decisions. Business organisations, in order to execute their respective operational functions or activities efficiently in the worldwide market segments, are required to possess adequate knowledge in relation to fundamental and cultural values. In this respect, organisations having adequate knowledge in relation to cultural values will be able to operate their business operations with greater efficiency. It is worth mentioning that organisations, with appropriate understanding and knowledge about cultural values and beliefs will be facilitated with the opportunity of formulating along with executing effective marketing strategies towards the accomplishment of predetermined business targets (Vogt, 2013; Kotabe & Hesen, 2010; Gillespie & et. al., 2010; Lee & Carter, 2009). Culture should be considered in global marketing as the present business market scenario or the market conditions is recognised to be changing frequently due to several factors. The foremost factors for the change in the market conditions can be apparently observed as the development of new business markets and the preferences of global consumers that are likely to alter in relation to demographics along with expectations. It has been viewed that the global marketing activities have changed due to the dissimilar cultural values along with beliefs that holds by the worldwide customers (Keegan, 2011; Lee & Carter, 2009; Passaris, 2006; Picard, 2004). Thus, it can be affirmed that the market conditions of global market are often predicted to remain much dependent on various variables of macro environment and marketing mix that have been discussed in the following (McGraw-Hill Education, 2013). The social environment of a country depicts the trends that are adopted by its people. This particular environment provides the information on the basis of which characteristics, requirements and behavioural attitudes of consumers can be identified. The global marketing activities of business organisations are seemed to be affected with the change in the aforementioned aspects (McGraw-Hill Education, 2013). The demographic environment reveals the aspects like population size, growth along with distribution of people in relation to different cultural characteristics. The modern business organisations performing global marketing activities are much interested in determining the demographic characteristics of people with the aim of examining their purchasing behaviour. In this regard, it can be apparently observed that the purchasing behaviour of people differs due to cultural aspects and age groups among others (McGraw-Hill Education, 2013). The cultural environment reveals certain important factors along with trends relating to the way that people live. There lay various factors that entail values, beliefs, attitudes, health, ideas and activities incorporated within cultural aspects. The purchasing behaviour of consumers depends on these aforementioned factors. In this respect, business organisations are required to have a better understanding of the trends and the cultural characteristics of consumers in worldwide business market segments (Ghauri & Cateora, 2005; Doole & Lowe, 2008). The economic environment depicts the level of income and goods or services that are produced in an economy. It can be affirmed that economic trends are duly considered as important factors for conducting global marketing activities efficiently. A change in the economic trend of a country can affect the marketing activities that perform by marketers in other countries. In this context, the marketers are required to identify the satisfaction level of consumers with the aim of executing global marketing activities in terms of managing both local and worldwide cultures (Reid & Bojanic, 2006). The political environment comprises the activities and the rules along with the regulations affecting marketing practices of a particular business organisation. These regulations or guiding principles are implemented with the intention of developing the financial conditions and uplifting an economy. In this regard, business organisations should have a better understanding of laws, political processes, regulations and trends in order to perform marketing operations proficiently in a global context (Bowie & Buttle, 2011). The technological environment depicts various factors along with trends in relation to innovativeness which impose considerable impact upon the marketing processes and development in new products. It can be affirmed that rapid development in the technological field has assisted in producing innovative products making the business markets more competitive (Keegan & Green, 2011). The competitive environment signifies the level of competition that exists in the worldwide business market segments with regard to the identical products and/or services that are offered by modern organisations. Market competition intensifies due to the availability of branded and identical products meeting the needs of the consumers. In this regard, business organisations are required to recognise potential competitors along with market opportunities and accordingly develop appropriate marketing strategies (Keillor, 2013). In order to determine about how marketers manage culture relating to 7 P’s of marketing, it can be affirmed that business organisations in this changing business setting are required to develop appropriate strategies for adapting to diverse cultures. In this regard, a few of 7 P’s of marketing have been discussed. Organisations are required to possess adequate knowledge about the cultural aspects and values of people residing in different society for the purpose of attaining significant benefits. In this respect, pricing decision should be considered based upon the cultural values of consumers in the worldwide market segments. Prices of products and/or services are determined based on the bargaining power and purchasing behaviour of consumers (Denis, 2010). Moreover, the distribution and promotional channels through which products and/or services are offered in the worldwide market segments are determined through analysing the behavioural patterns of the consumers. The purchasing behaviour of consumers is mainly dependent on the cultural values and beliefs that they hold. In this regard, business organisations should devise appropriate policies in relation to the advancement of distribution channels, so that products and/or services are provided in an ethical along with time efficient manner. The cultural factors which include customs, social factors and values should be considered while identifying distribution channels (Denis, 2010). For example, the different products of PepsiCo Inc. are promoted in both English along with French language in Canada, which reveal the influence of cultural aspects upon the activity perform by the organisation (Boundless, n.d.). Business organisations should make product decisions appropriately with due consideration to the cultural aspects in order to perform business operations efficiently and with better profitability. There are several factors that include packaging and product ingredients on the basis of which products are demanded in different market segments. In this regard, business organisations are required to offer products and/or services in accordance with the cultural dimensions concerning the purchase behaviour and the preferences of the customers (Denis, 2010). The impact of culture particularly on buyer behaviour can be determined on the basis of several factors such as determining the environment of global market, identifying marketing opportunities and developing appropriate strategies for conducting global marketing programs. It is worth mentioning that buyer or consumer behaviour is affected by culture, which differs from country to country. In this respect, business organisations with proper identification of cultural aspects including attitudes along with values can comply with the requirements of the customers. Thus, it is clear that the cultural aspects impose extensive impact upon the behavioural attitudes of the customers or the buyers at large (Jin, 2013). Thus, it can be comprehended that culture plays an effective role in influencing the purchasing behaviour and preferences of consumers. It is often recognised that culture influence decisions, habits and trends of consumers in the worldwide market segments. From the above analysis, it can be summarised that development in technologies and gaining momentum of globalisation has increased the conduct of marketing activities of various business organisations especially in overseas market segments. The modern organisations, in order to execute global marketing operations effectively are required to have adequate understanding in relation to varied elements of macro environment. Culture is often determined to be one of the decisive factors which can impose considerable impact upon buyer behaviour. Thus, in this regard, it can be concluded that the marketers with proper identification of various cultural aspects, would be able to manage both the local and worldwide cultures when planning their respective marketing operations. References Bardhan, P. K. & et. al., 2006. Globalization and Egalitarian Redistribution. Princeton University Press. Belshek, J. A., 2004. The Influence of Culture on the Negotiation Styles of British Students. 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