01 Sep Global Marketing Management
Global Strategic Marketing Plan, Strategy, and Tactics” Please respond to the following:
· When developing a global marketing plan one of the primary considerations to consider is the use of centralized or decentralized control for decision-making authority. Discuss the main advantages and disadvantages associated with command and control at the local country level.
· Predict the various growth opportunities that will emerge in markets within the global trade arena. Next, speculate on three (3) primary concerns that should be considered when conducting business in emerging countries and possible solutions to overcome these concerns. Justify why these concerns need to be addressed.
Response 1 (Jasmine) :
· When developing a global marketing plan one of the primary considerations to consider is the use of centralized or decentralized control for decision-making authority. Discuss the main advantages and disadvantages associated with command and control at the local country level.
Since centralized (top-down) and decentralized (bottom-down) planning each have their pros and cons, many companies prefer hybrid planning. Centralized planning begins at the top with corporate then guides down to the local level. Decentralized is the opposite of this and starts at the local level then consolidates at the headquarter level. It’s easier to market products with a global response and performance monitoring with centralized planning. An advantage to decentralized planning at the local country level is embracing the local responsiveness, however, unbranded competition could be an issue.
· Predict the various growth opportunities that will emerge in markets within the global trade arena. Next, speculate on three (3) primary concerns that should be considered when conducting business in emerging countries and possible solutions to overcome these concerns. Justify why these concerns need to be addressed.
Three concerns when conducting business in emerging countries are: underdeveloped technology, shortage of resources, and youthful population. Not having an ample amount of resources or up to date technology can hinder the growth process of an organization. A growth opportunity that could be a solution to the concerns would be push vs pull activities. Those activities result in the opportunity for consumers to switch brands more frequently. For example, in store promotion heavily influences buying decisions, especially with a youthful population.
Kotabe, M., & Helsen, K. (2017). Global marketing management (7th ed.). Hoboken, N.J.: John Wiley & Sons, Inc.
Response 2 (Edwin) :
Command and control is a centralized type of control deployed by the government to control means of production. Now it has its disadvantages and disadvantages Advantages. · Less inequality Now here since the government is in control of the production means in the economy then it has the power to determine who works where and at what pay. In a free market where private entities are in control, they will hire workers based on business needs and pay wages in terms of who has the highest skills. · Low unemployment A command economy can create jobs and distribute wages effectively as compared to the invisible hand in the market by private sectors · Common Good versus Profit Priority Unlike many businesses that are driven by making profits in a free market, in the control setup profits is a non-factor (Mazur, 2016). As a result, all products and services are tailored towards the common good of its people. Disadvantages · Lack of competition Since there is little need for profits, most people are likely not to venture in a given product or service as a result of killing competition. Lack of competition, as a result, hinders innovation. As a result, prices remain at an optimal level. · Inefficiency The competition allows companies to operate at their optimum, producing only the best. So when the competition is out of the table, then the government feels no pressure on keeping things at their optimum. Emerging markets have been one of the hottest investment areas; however, matters such as foreign exchange rates, lack of liquidity, and non-normal distribution are a great concern when investing in these markets. Some of the solutions are taking in-depth research on the market before investing and making partnerships with people who have dealt with such situations before. These concerns need to be addressed with at most caution else bankruptcy and loss of revenue will be incurred by such companies. Reference Mazur, V. V., Barmuta, K. A., Demin, S. S., Tikhomirov, E. A., & Bykovskiy, M. A. (2016). Innovation clusters: Advantages and disadvantages. International Journal of Economics and financial issues, 6(1S), 270-274.
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