Globalization and International Markets †MyAssignmenthelp.com

Question: Discuss about the Globalization and International Markets. Answer: With the increasing ramified economic changes and complex business structure, each and every organization is inclined towards running their business on international level. This level of business functioning makes business effective and increase the overall turnover of the company. However, in order to win the international market there is possible two strategies are followed by companies name as cost leadership and product differentiation. It is evaluated that globisation is the required intents which each and every organization needs to consider before implementing strategies on domestic and international level [1] It is considered that if an organization wants to expand its business then globalization and its impact on the business is the major factors before creating any strategies for business. However, with the increasing opportunity of global business, there are several threats which must be considered by organization before taking their business online. Market expansion and d iversification is possible for organizations when they take their business on international level. It increases the market share and increase in turnover of the business. Company could follow two main strategies to implement the successful business on international level namely as product differentiation and cost leadership strategies. International marketing is another aspect which means that promoting goods and services of organization on international level in international markets. There are several organizations which have undertaken their business on international level such as Woolworths, Wesfarmers and Tesco and GE capital. Impact of culture on international marketing It is evaluated that in 21st century the century of globalization where there is advancement of technologies, flow of information is as fast as it can be ever, and companies who wants to cater the clients needs and demand on international level could do it by implementing proper level of strategic alliance and international marketing strategies. Customization or standardized products are the key strategic functions which are ideally used by companies while selling their products on international level with a view to satisfy international clients needs and demand. There are several factors such as language, belief, norms, social consideration and prefrences of clietns which could be considered by companies while taking their business on international level. In addition to this, if company takes its business on international level then establishment of proper level of communication is required intents for the success of organization. Cyber computing enterprises resources planning is the major terms which should be undertaken by organization before implementing business on international level [2] The setting up of new ventures or entering into strategic alliance with other orgnizations is the key major factors for the success of business on internatianol level. If company could mitigate the cultural issues on international level while implementing its international marketing strategies then it could easily provide satisfaction to its clients. Cultural issues could be mitigated by following proper level of social value, perception and needs of the clients in the market. It consists of the values, chocies, prefrences, needs and demand of the clients in market. If company could offer clients expected products and services in market then it will not only increase the overall efficieny of the product but also result to increased compliance on international level. The culture understanding is the major factor which would be undertaken by the organization before implementing strategic plans with other stakehodlres. For instance, while introducing new products and services, customization is the basic process which should be undertaken by orgnizaton before taking its business on international tangent. [3] Importance of culture The important of the culture in the international marketing may be recognized if proper level of strategic market factors and culture borders are recognized on international level. Cultural analysis is the major tools to make its products customized and effective. If company wants to grasp the international market then it needs to evaluate clients (s) language, belief, norms, social consideration and preferences. The main focus is made on what kind of changes and alteration clients wants to see in the offered products and services. For instance, if people in china are more inclined towards buying sugary products then company should make its ediable products more sugary [4] In additions Google analytics has two aspects of evaluating the language, belief, norms, social consideration and prefrences of clietnts. It put emphasis upon the choice of country and needs of cities. If company wants to grasp the particular factors of cities then customization of the products should be based on the people living in particular cities and while taking business on international level will requires consideration of language, belief, norms, social consideration and preferences of clients on country level[5] Therefore, while implementing proper strategic international market plan, company needs to evaluate all the language, belief, norms, social consideration and preferences of clients on the international level[6] Culture is the important factors which should be considered by each and every organization before undertaking international business. If company could not offer customized products and services to its clients then it will not only increase the complexity of busiens but also render non effective marketing program. Cultural factors of organization provides proper consideration of language, belief, norms, social consideration and preferences of clients on international level and how company could fight with the domestic players in easy and determined approach The main example of cultural impact could be undertaken for instance, Chinese people use chopsticks for eating foods on the other hand, English man use fork and knife to eat food. Therefore, if company wants to start up new restaurant business in china then it has to arrange chopsticks otherwise no Chinese clients will come and eat food and on the same side, if restaurant is going to open in America then fork and knifes are the required intent. This level of cultural changes and different language, belief, norms, social consideration and preferences of client showcase the need to implement cultural analysis while taking business on international level. If company could adopt customized and cost leadership strategies while taking their business on international level then it could not only increase the market share but also showcase the efficiency of business in adapting with different business market. International marketing is completely dependent upon the cultural impact of the par ticular destination. There are several factors which should be undertaken by organization while taking their business on international level. Cultural factors of particular place put emphasis upon language, belief, norms, social consideration and preferences of clients. If company could adopt customized business activities then only it will increase the overall efficiency of business or market share at large. So, if you want to expand your business worldwide than it is very important to be familiar with the culture of the every country than only you can be successful in the task of expanding the business. References Banatwala, Mustansir, David A. 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