Impact Of Globalisation On Marketing Essay

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------------------------------------------------- Explain what you understand by the term ‘globalisation’ and discuss its impact on Marketing. Globalisation has become one of the most common topics for debates due to its level of influence in every field and country. This term does not have one standard definition or historical origin; many people claim that it has been part of our history since the Roman Empire but others consider it as the modern development over the decades. One simple definition is that it is a universal phenomenon which describes how the world has become connected economically, politically, socially, and culturally through the advances of technology, communication, and transportation. Opinions vary considerably over its positive and negative effects nevertheless all of them admit that globalisation is inevitably changing the way companies are managed to compete in a global economy. Therefore globalisation is a powerful economic phenomenon with profound implications for marketers in the fast-moving world of business. Marketing requires competent managers with the appropriate skills to ensure success in the globalised environment. First of all marketers need to understand the meaning of global marketing terminology which is in English. Terms such as brand, image, target market, SWOT analysis, POP material, share of market, jingle, publicity and slogan in order to benchmark the world of business. Global companies use these set of standards to be able to share and compare information in the same language. It is very useful for worldwide companies to analyse their results in every country and to identify opportunities and threats in specific countries. Moreover marketers need to refine the role of marketing according to the changes that are caused by a globalised world that is affecting the purchase decision making process. Generally

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