What questions and ideas are important for global marketers to address in preparation for the future?
Included below are a few topics that I feel have not been thoroughly studied in the textbooks and articles I used to write this blog. These topics can be researched and explored to uncover how global marketing will continue to develop within different industries and across the world.
Opportunities and Emerging Markets: How should the global marketer determine and address the needs of emerging markets? Can you identify one market you feel has the most potential (such as one of the BRIC countries (Brazil, Russia, India, China?). Within this market, have you been able to uncover an industry that appears profitable? If there is an existing firm that may benefit from expanding into this market, what entry mode do you think would be most successful (Joint-venture, franchise, strategic alliance, etc.)?
Technology and Social Media: How is social media playing a role in the global marketer’s approach to the marketing mix? For example, how are sites such as Facebook, LinkedIn, and Twitter affecting advertising and promotional activities used by both b2b and b2c organizations? It would also be interesting to see research how new media has affected pricing strategy (with e-commerce and electronic payment methods).
China & The Global Marketer: As previously mentioned, China is one of the world’s emerging markets, and is the source of opportunity and profits for many multinational corporations. Despite this, many feel that taking too much investment in China poses a threat for the United States. Given China’s growing position as a world superpower, do you believe the US should continue to increase business and marketing within the country? Are we weakening our own country’s position of power, (politically, economically, socially, etc.) as we increase marketing efforts in China?
Going Global: An Update on the political and legal environments worldwide: Trade barriers are continuing to fall worldwide, increasing international business and globalization. Laws that govern and regulate the marketing mix are ever-changing. What are some recent instances in which shifts in the political and legal environments of a country have affected global marketing?
Cultural Assessment: What are the methods or techniques ways global marketers go about researching and understanding the cultural tendencies of different nations? Can you identify any new cultural changes occurring in different areas of the world? How are these changes affecting marketing practices?
Global Marketing & the Auto Industry: The auto industry is one of the largest global industries in the world. Which companies do you believe are competing and marketing on a truly global scale, and how so? Can you give examples of auto companies that are either expanding or reducing their global marketing efforts?