Global Marketing Place


Several factors have forced countries to extend their economic views to events outside their own national borders. First, international agreements are being negotiated in attempt to increase trade among nations. Second, the growth of electronic commerce and related computer technologies brings previously isolated countries into their marketplace for buyers and sellers around the globe. Third, the interdependence of the world’s economies is a reality since no nation produces all of the raw material and finished goods purchased by its citizens or consumers of all its output without some exporting to other countries. Evidence of this interdependence is illustrated by the introduction of the Euro as a common currency to facilitate trade among the nations of the European Union and the creation of trade alliances.

Service firms also play a major role in today’s global marketplace. In many cases, global marketing strategies are almost identical to those used in domestic markets. Rather than creating a different promotional campaign for each country, marketers use the same ad with spectacular results.

Domestic marketing strategies may need significant changes to adapt to unique tastes or different cultural and legal requirements abroad. It is often difficult to standardize a brand name on a global basis.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Market Sales Potential


Market sales potential is a quantitative approximation of effective demand. Specifically, market sales potential is the maximum level of sales that might be available to all organizations serving a defined market in a specific time period given 1) the marketing mix activities and effort of all organizations, and 2) a set of environmental conditions. As this definition indicates, market sales potential is not a fixed amount. Rather, it is a function of a number of factors, some of which are controllable and others not controllable by organizations. For example, controllable marketing-mix activities and marketing related expenditures of organizations can influence market sales potential. On the other hand, consumer disposable income, government regulations, and other social, economic, and political conditions are not controllable by organizations, but do affect market sales potential. These uncontrollable factors are particularly relevant in estimating market sales potential in developing countries.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Tariff Barriers


Different nations handle tariff barriers differently. A country may have a single tariff system for all goods from all sources. This is called a uni-linear or single-column tariff. Another type of tariff is the general-conventional tariff. This tariff applies to all nations except those that have tariff treaties (or a convention to that effect) with a particular country. A tariff may be worked out on the basis of a tax permit, called specific duty, or as percentage of the value of the item, which is referred to as ad velorem duty. Sometimes both specific and ad valorem duty may be levied may be levied on the same item as a combined duty.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Contamination of Resources


Nations have paid relatively little attention to the contamination and destruction of the world’s natural resources. Entire forests have been destroyed by people wanting to get firewood or to clear land and by contaminated air and water. Pollution control of air and water was considered a luxury that governments, anxious to attract new industry and to keep the industry they had, could ill-afford to impose. Developing countries assert, “They can’t afford pollution control like Japan or the United States—that’s cultural imperialism.” They unfortunately do not realize that the price for such negligence is too high.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Retailing


Retailing implies activities involved in the sale of goods and services to the consumers for their personal, family and household use. That’s about marketing activities designed to provide satisfaction to the final consumer and profitability maintain these customers through a program of continuous quality improvement. The scope of retailing, therefore, is defined as activities aimed at satisfying the final consumer profitability. This win-win situation is achieved through different activities the retailers provide both to the consumers as well as the manufacturers.

While the basic objective of retailing would remain the same in all countries, the retail environment in developed countries would be vastly different, and hence not conducive to adopting similar marketing practices.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

The New Trend


Today, everything has changed. Globalization, the internationalization of markets and corporations, has changed the way modern corporations do business. To reach the economies of scale necessary to achieve the low costs, and thus the low prices, needed to be competitive, companies are now thinking of a global (worldwide) market instead of a national market. Instead of using one international division to manage everything outside the home country, large corporations are now using matrix structures in which product units are interwoven with country or regional units. International assignments are now considered key for anyone interested in reaching top management. As more industries become global, strategic management is becoming an increasingly important way to keep track of international developments and position the company for long term competitive advantage.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Inter-Cultural Communication


Companies face special challenges when they market their products and services to people in other countries and to people in their home countries who come from other cultures:

  • Companies have to make their communications understandable and clear to their target audiences. The company that does not modify its information risks offending its audience and losing the opportunity to do business.
  • Companies are ethically obligated not to reinforce patterns of discrimination in product information.
  • Companies are not obligated to challenge the prevailing prejudice directly. Organizations that actively oppose discrimination are acting admirably.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

The Contemporary World


By the end of World War 11 in 1945, the Industrial Revolution was complete. The need for war goods required the development of new forms of production and technology, which later were used to produce consumer goods. Inventiveness was at high peak. Synthetic plastics and chemicals replaced natural substances as the basis for many products. Better machinery made it possible to manufacture products to produce precise specifications. (This type of precision is what lead eventually to the Apollo moon shot, which required components that were accurate to several one-hundred thousandths of an inch.)

In the 1970s, widespread use of computers enabled the management to process large quantities of data. Factories could be automated, with computer-controlled machinery carrying out many routine activities that could previously be completed only by time-consuming human labor.

By 1980, more than 80 percent of US 500 largest businesses were multinational, operating facilities in five or more foreign countries. And even for smaller companies and individual consumers, the world has become more like a large neighborhood than a huge, unknowable planet. High-speed computers, orbiting satellites, fluctuating exchange rates, and worldwide scarcities of natural resources bind us together with common needs, concerns, and goals.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Enhancing Productivity


Productivity is important for a variety of reasons. For one thing, it clearly affects an organization’s ability to compete effectively. For another, it shapes the overall economic prosperity of the organization’s host country. In other words, productively created goods and services not only contribute to the home country’s economic health but allow organizations  to generate more revenues in the global economy.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Greed


Technically, greed is not one of the seven cardinal (deadly) sins, avarice is. Greed is an excessive desire to get or have, as wealth or power, beyond what one needs or deserves. There is no mechanism , or even rationale, for deciding what  one needs  or deserves  or what is excessive.

Pride is the first of the seven cardinal sins, but we are encouraged to be proud of country, school, family, employer, and other institutions. The issue is not pride but the form that pride takes. This applies to wanting more than one has, what some people call greed. It depends on how the greed affects behavior. Greed is not bad. Immoral and unethical behavior is bad.

Greed means the desire to have more than one has. This trait leads, through the invisible hand, to competition. Greed causes us to want more in a free, competitive society we have to work harder and smarter. This increases human welfare by providing more and better marketing mixes (product, price, distribution, and promotion). It is the marketing mix that satisfies the buyer’s wants and needs. Competition keeps greed in check except when we act immorally. In business competition, unlike sports, there can be more than one winner.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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