Explain the term ‘globalisation’ and the role that multinational companies play in the development of globalisation. Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation has increased the production of goods and services and has therefore lead to increased trade between countries. This trade encourages countries to work together and removes trade barriers such as quotas and tariffs. This increased openess allows countries to specialise in producing goods which they have a comparitve advantage in (this means they can produce goods at lower unit costs) A multinational Company is a corporation that has its facilities and other assets in at least one country other than its home country.
The procedure of recognizing beneficial growth opportunities frequently starts with core business such as customers, the products, channels, geographic areas and services that produce the profits and greatest portion of revenue. The next customer-focused growth strategy supported on the industries to be had with customers. The strategy entails building great impact value suggestions for the new customers. Reinforcing this strategy is the readiness to outlook customers by distinct set of lenses (Schank, Smith, Birkler, Alkire, Boito, Lee, Raman, United States, 2006). A procedure can be build to help the managers and consultant at the customer interface achieve new insights into the customer’s requirements and favorites.
It can also help us to win over new customers or even create customer loyalty from current customers. We currently have sufficient marketing strategies to increase loyalty and profitability of consumers. However, the organization can create more strategies to have long lasting success. According to "How to Develop Marketing Strategy" (2013), “A carefully planned marketing strategy provides continuous benefits to a company”
To achieve these strategic targets, P & G plans to achieve by improving and touching the lives of more consumers, in more parts of the globe. The company will also influence its core strengths in leadership to generate competitive advantages that are vital to winning in the consumer products industry. The driving forces of: brand-building, innovation, customer knowledge, and go-to-market capabilities will permit P & G to accomplish their targets. The company is motivating productivity in all aspects of the business through an arrangement of digitization, integration, and simplification. The company is also strengthening the quality, extent, and depth of leadership on all levels of the organization to make a more real-time, demand-driven and future-focused business (Procter & Gamble, 2011).
Creating more profit opportunities by increasing marketing and promotion will encourage the dealerships to bring in and stock more of Company S’s product. This strategy is advantageous because it increases the opportunities for profit for not only the dealerships, but for Company S as well. If the dealerships sell more units, then Company S will make more money as well. This will create trust between Company S and it’s dealerships. A disadvantage of this strategy would be costly.
* Cash Connection is taking to broad differentiation strategy. They seek to create a competitive advantage by incorporating attributes and features that buyers consider his services more valuable. Successful differentiation will allow his firm to increase sales and increase brand awareness. 2. What evidence suggests that Cash Connection’s strategy and business model are ethical and beneficial to customers and to society at large?
• Implementing information technology in order to increase efficiency in operations and marketing aids. • Point-of-sale systems that helps increase inventory turnover and sales and lead to better targeted customer marketing. • Brand identity. • The use of informational complexity to promote and educate consumers regarding their products. Q4 What are the key elements of Oliver’s strategy?
This will stir up excitement and add to the allure of Kudler. Next, communications will encompass the need for radio, television, and billboard advertisements. Advertising budgets do a lot for the marketing backbone of any business, and a company like Kudler that is looking to expand will benefit from these types of advertisements. Finally, expenditures is needed to increase studies, update trend analyses, and further investigate what it is the customer wants, and the best ways to provide those wants to the customer. Utilizing the budget effectively will help promote the marketing tactics and strategies of Kudler Fine
However, understanding the culture and values of foreign consumers can help boost the sales of the product and service because the sales teams can market and target their consumers. The international sales research can help the sales team to understand the consumer’s needs and market their product which makes consumers want to buy the
WHAT IS PROMOTION? Promotion is one of the major elements of the marketing mix of the business. Promotion is a form of persuasive communication, or getting others to do what you want them to do. Its function is that of informing consumers about a product or service and influencing them to buy that product or service. There are many different promotional tools that are used by businesses to enhance the image of the product, such as mailings, speeches,