Global Marketing Strategy Essay Example | Topics and Well Written Essays - 2000 words

Global Marketing Strategy - Essay Example The induction and diffusion of the effects of globalization in various parts of the world has been fast forwarded in a tremendous manner by the easy availability of high speed internet connectivity in every corner of the world. The easy availability of information in the various forms of virtual media like the online media forums, social networking sites and blogs have significantly contributed to the faster dispersion of the effects related to globalization. This has brought into play, a significant and constant process of change in the macro and micro environmental factors related to the development of business opportunities in the established as well as the developing economies of the world. As a positive impact of globalization, there has been a significant increase in the opening up of economies around the world. As a result of opening up of economies of various emerging and developing countries, new markets are emerging from various corners of the globe. The steady rise in the opening up of new markets around the world is leading to a tremendous increase in competition in the global marketplace. Talking on this note, it can be said that the process of opening up of markets around the world is allowing organizations located in various parts and corners of the world to look for opportunities related to market expansion by applying various strategy-based methodologies and action plans. This approach of entering new markets, by various international firms, is leading to the rise of business practices in the domain and arena of international business practices. Theoretical framework: International business Talking about international business, if we wish to define it, it can be said that the international business or international trade comprises of various business activities that are undertaken by business organizations around the world to develop new markets for the purpose of gaining significant growth opportunities by catering to the demands arising from the new markets. In an effort to do so, the international firms focus on the process related to generating, communicating, delivering as well as capturing of value for the customers of the new markets while customizing the product or service features as per their needs and requirements (Dlabay & Scott, 2011, p. 8). The concept of international business is also highly applicable and relevant in the case of various business firms who look forward to tapping significant amount of business opportunities by providing their services and products to various remotely located clients and customers who dwell in different countries. In the context of various business to business scenarios, international business represents the process of conduction of business between various business organizations through the mass conduction of import and export of goods and services. For the process of conduction of international business, opening up of economies as well as setting up of various investment f riendly policies and tax laws in the new and developing economies is very essential. It is highly important to mention in this case that the flexibility in multiple government outlined policies and regular evaluation