Apart from its formal organizational structure, how can the global company ensure that it is responding to the market and achieving efficiency, local responsiveness, and global learning?
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According to the site www.fao.org marketing can be defined as 'the process of building lasting relationships through planning, executing, and controlling the conception, pricing, promotion and distribution of ideas, goods and services to create mutual exchange that satisfy individual and organizational needs and objectives' (p. 3). According to these authors, the long held tenants of marketing are 'customer value', 'competitive advantage' and 'focus'. According to this site this meant that organizations had to study the market, develop products or services that would satisfy customer needs and wants. However, according to these authors, it became clear by the 1980s that this definition of marketing was too narrow; the concept of strategic marketing was thus created, and this focus was shifted from knowing everything about the customer, to broader economic, social and political macro forces that shape the evolution of markets. In global marketing, this meant forging alliances (relationships) or developing networks, working closely with home country government officials and industry competitors to gain access to a target market. In addition, according to this site, the marketing objective changed from one of satisfying organizational objectives to one of 'stakeholder' benefits, including employees, society, and government; however profit is still essential but not an end in itself.
According to www.fao.org in global marketing the functioning is much different than that of the domestic market. According to this site, organizations evolve into different stages in the process of evolving from domestic to global enterprises. The four stages, according to this site, are as follows:
1. Stage one: domestic in focus with all activity concentrated in the home market; while many organizations can survive like this, solely domestically oriented organizations are probably doomed to long term failure;
2. Stage two: home focus but with exports. Leadership still believes only in home values, but creates an export division; at this stage the organization is usually ripe for the taking by stage four organizations;
3. Stage three: stage two organizations which realize that they must adapt their marketing mixes to overseas operations; the focus switches to multinational (polycentric) and adaptation becomes paramount;
4. Stage four: global organizations which create value by extending products and focus on serving emerging global markets (geocentric); this involves recognizing that markets around the world consist of similarities to obtain scale of economies, but also recognizes and ...
The essence of this paper is to examine the concept of marketing and the long held view of it in terms of customer value, competitive advantage and focus; according to these authors, it became clear by the 1980s that this definition of marketing was too narrow; thus, the concept of strategic marketing was created, and this focus was shifted from knowing everything about the customer, to broader alliances (relationships) or developing networks which presently shape the world in terms of globalization; (how countries interact with one another in terms of marketing on a global level).
What are the strategic implications of covisint for the different players in the market such as automobile manufacturers, various suppliers
What are the strategic implications of covisint for the different players in the market such as automobile manufacturers, various suppliers.View Full Posting Details