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The Self Reference Criterion in the Context of International Marketing - Research Paper Example

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The author of this research paper "The Self Reference Criterion in the Context of International Marketing" remarks that globalization is a contemporary phenomenon that has been experienced only in the last sixty years. However, its effects on the lives of contemporary people have been tremendous…
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The Self Reference Criterion in the Context of International Marketing
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Download file to see previous pages In addition, as globalization has opened the venue for a freer and massive movement of people, it has contributed to the decreasing importance of physical boundaries and the increasing significance of the chance to meet, interact, get to know and assimilate different cultures and norms. The reality of cultural interactions among nations in the global community creates new challenges and paradigms in understanding the idea of cultural identity and national belongingness (Suarez- -Orozco & Qin – Hilliard,2004).
Global marketing and international trade can be seen as firms’ expansion to other countries outside their home country (Boone & Kurtz, 2006) In this era of globalization, firms are encouraged to go global because of the benefits that are gained in entering the global market. These benefits include 1. Increase profits 2 Employment opportunities 3 It gives companies the chance to be less dependent on the economy of their countries 4. Reduces cost of production 5.provides an opportunity for sharing knowledge and potential markets around the globe (Boone & Kurtz, 2006). In the face of this reality – globalisation, TNCs, MNCs, and movement of people- one of the primary concerns that international businesses encounter is on how the different cultures that they meet as they cross borders, interact with and undertake business exchanges and transactions in the global market may create and become a positive opening. An opening wherein the differences in culture can be understood and turned into a constructive, affirmative and beneficial aspect for the firm in particular and for the entire business environment in general. This concern is significant since cultural differences in the international market is a recognized source of conflict and misunderstanding in doing international business in the global market. ...Download file to see next pages Read More
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