Question

1.Discuss global marketing and the potential of small firms as global enterprises.

2.Explain the challenges that global enterprises face.

3.Describe the initial steps of a global marketing effort.

COUNTRY : UNITED KINGDOM

Answer 1

1.Global marketing is the wide concept.It is actually a potential of the companies to achieve the position in the global market.It is not an easy process,beacuse the world wide acceptance of the product achieve only by considering the quaity and how coud be the customer review of the product,is it bad or good?some more questions may be the facts of rising the product in the global market.The formulation of the global marketing strategy is very difficult due to the cultural difference,so the company always creating the strategy incorporates the world wide culture.The cultural difference doesn't affect the company position in the global market.The company always use the unified strategy for the brand.That will click and accept in globally.Global maketing of the brand to get the wide acceptance of the product and also get the wide promotion of the brand,it is a riskier effort and it leads to increase the savings.

In a small or large firms are facing many adantage and disadantage acording to the situation in the global market.The competitive advantage is the main thing,the small or large business firms are competing with the same industries in the global market.Then the advantage of the products or service is determined by the overall customer acceptance of the product.In small business it is more riskier process compared to the large firms.Because in small scale industries not having enough fund to expand the business,similarly the process of globalising the product is very difficult one.Because the business have the need of appoint more staff to the business entity and more travelling expense for globaisng the product,the company also need to know about the tax laws and other regulations it takes more time and money.It is absolutely challenging for the small scale business.

2.Following are the challlenges faced by the global enterprise:

a.Staffing is the one of the problem in the global marketing,because the company facing the problem according to the right person in a right place.

b.Strategies are applying very carefully to the companies,we are entering into the other countries then the brand may face the cultural and communal difference so these are overcome by applying the proper strategy.

c.It may happen the various accounting standards issues,because the different countries are using different standards.The firm also would face the foreign exchange risk.

3.The steps are following:

a.World wide market analysis

b.Identify the exporting requirements and formulate the export plan

c.Analyse the competition

d.Deciding the labelling requirements

e.Market research

f.Formulate the strategy for entering into the global market.