10 May Web post discussion: What is a global vision?
200 words web post + 100 words respond to the example post (choose one post to respond).
Example 1
I heard about Google’s Project Loon before, but didn’t realize how many countries it was already being tested in. There are articles about the success in Puerto Rico, Kenya, and a remote part of the Amazon.
In Professor Kotler’s presentation he speaks about how marketing will be in utilized in a Networked Economy. A networked economy would have the consumers initiating communications. We already see this today with “word of mouth” advertising done in person, but more often through social media platforms. We all would be interested in a product if a trusted source led you to believe the product would bring some type of value to your life. He also refers to companies making customer relationships instead of just offering a product.
So in the example of Project Loon, Google provided a service to Puerto Ricans after the devastating hurricane. This built a positive image of the company, and of course did something great for the people of that country. That is where I see Project Loon and Facebook’s Aquila going. These projects will be creating a Networked Economy with their Global Vision. The more connected people are the more consumers will be able to initiate communications as Professor Kotler talked about. This ultimately would lead companies into new markets and more opportunities to make money.
Respond:
I agree with your points and believe that a networked economy is key for globilization. More and more, individuals as a hobby and/or for money, have started using social media such as blogs and Instagram to create a worldwide following and network so that they can share their input on various products and services such as travel, food, clothing, make up, etc. With no to very limited geographic barriers, these individuals are able to communicate to interested consumers via social media on various topics and as their following increases, so does their credibility. It is another way for companies, both big and small, to reach out to these bloggers, etc.to try their products and market them globally, of course, with the risk of giving out any bad reviews.
Example 2
Global Vision
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Today, more than ever, technology has made the world a smaller place. Technology, along with having a global vision, has allowed companies to break down geographic and cultural barriers and has allowed them to collaborate with and reach target markets in a way that was once impossible to do so. Per the Professor’s lecture and article readings, whether small or large, every company should have a global vision or a consideration for it because companies no longer only have to worry about domestic competition but now foreign competition as well. If a company does not tap into an international market(s) when it is the right step for the company, there will be several other competitors ready and willing to do so.
There are a lot of considerations that must be taken into account for a company when moving their business to international grounds such as cultural differences, economic conditions, the political landscape and more but if done right, there are enormous benefits companies can reap by going global. Thus, it is important for a company and its employees to have a global vision to take into account the strengths, weaknesses, threats, and opportunities for expanding its business worldwide whether that global vision is to have one standardized product it sells globally or products customized to the various global markets or a hybrid of both.
RE: Global Vision
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The topics that you discussed and touched on are quite interesting! To add to what you said about the “world is becoming a smaller place thanks to technology”, I think you are completely correct in saying this, however, companies should be cautious in assuming that the world has become completely globalized. Although people are becoming similar in overall needs and desires, companies should not forget to adhere to local consumer preferences, which you do mention. Contradictorily, there are some products and services that have become more universal, therefore, I agree with you on the fact that a hybrid of both adhering to local preferences and developing a universal product is the ingredient for success in today’s international market.
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