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.
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.