MEMORANDUM
Locating a Wiki in International Business
In today’s dynamic and changing world, companies are
expanding into other countries to try and tap into the ever-increasing market
facilitated by the globalization phenomenon. As a result, most companies now
rely on the overseas business in one way or the other. Global marketing is a
fundamental element in international businesses. This is because organizations
looking to cross borders will need various marketing strategies in order to
attract consumers in the new markets.
My Wiki page, therefore,is about Global Marketing,
whereby,the page has undergone several editions and revisions over the past
years. The page is available in 8 more other languages including; Français, Português,
Bahasa Indonesia, and Polski. The various language versions indicate that the
contributors of the page may be from different countries. The Wiki details are;
Page name: Global marketing
Author: Wikipedia contributors
Publisher: Wikipedia, the Free Encyclopedia.
Date of last revision: 17 March 2015 20:57 UTC
Date retrieved: 20 April 2015 06:49 UTC
Permanent link: http://en.wikipedia.org/w/index.php?title=Global_marketing&oldid=651832382
Primary contributors: Revision history statistics
Description of the page content
We are living in a globalized economy that calls for
businesses to be highly responsive to the prevailing market conditions. International
markets are prone to changes every now and then; hence this requires global
businesses to be adaptive to these changes in order to meet their goals(Keegan
and Green, 7-10). Common conditions that are bound to affect the firms are
global inflation, foreign cultures, and host nations’ policies and regulations.
Therefore, marketing in the planetary scale may be different from local
marketing because of the different characteristics of the markets. A global
marketer ought to use all possible resources to ensure success, given the worldwide
stiff competition and adverse global market conditions.
The page enables us to learn that global marketing
basically refers to the ability of a business organization to market its
product(s) in almost every country on the planet. The area is relevant in the
international business as a discipline as it enhances provision of valuable
products and services in the local and international platforms. However, the
marketing process has undergone multiple evolutions as it has intensified over
the recent years. Initially, it was basically extinct since most firms operated
as domestic-only business organizations. The current world is marked with a lot
of multi-national corporations with every one of them trying to obtain the
giant share in the global market(Sethna, Jones, and Harrigan, 22).
The page stresses how marketers ought to notice the
distinction that exists between domestic and global marketing. Besides the
common strategies and tactics, international marketing has other distinctive
characteristics. The latter requires understanding of global market structure,
global finance and operations, and other factors such as government relations,
technology, and human capital management that affect international market
environment. The standard 4 Ps, however, apply when one embarks in global
marketing. There is need for an outstanding Product, appropriate Pricing, strategic
Placement, and striking Promotional activities such as advertisement.
The global marketing Wiki is a summarized one since
it contains basic information regarding the subject. Its major purpose of
showing how important global marketing is easily achieved. However, it leaves
out a lot of information that relates to the field of international business
marketing, and in particular factors that affect the businesses in the new
foreign market. Businesses cross border and cultures, as well, hence the issue
of culture and host countries’ policies can be discussed in detail.
Works Cited
Keegan, Warren J, and
Mark C. Green. Global Marketing. Upper Saddle River:
Pearson/Prentice Hall, 2005. Print.
Sethna, Zubin, Rosalind
Jones, and Paul Harrigan. Entrepreneurial Marketing: Global
Perspectives. Bingley: Emerald Group Pub, 2013. Print.
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