In a globalized world, the entire world is a marketplace, and market segments are no longer considered based only on the basis of national borders. Products have always been travelling and international trade has existed for centuries. While international trade is not new, the mass-marketization of products in a globalized marketplace is new. Definition of […]
Blog
Marketing Environment: Understanding the internal and external environment
Marketing operates in a complex and changing environment. The marketing environment is the environment that a business operates in (Whalley 2010, p. 50). It involves the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers (Kotler et al. 2013). The marketing environment involves an internal […]
Indian Electrical Machinery Industry: Research, Analysis, Notes
Electrical Machinery Industry in India: Research, notes and projects. India’s electrical machinery and equipment industry is growing due to the improved electricity access in semi-urban and rural India. Several states in India today have a well-developed physical and industrial infrastructure and a well-developed power supply grid. Maharashtra has the maximum installed electricity generation capacity in […]
Product Adaptation and Standardization
Every business needs product/services that it can sell to potential customers. While firms would prefer to have standardized products that they can sell over the world, there are various factors that compel firms to adapt their products. In general, products that offer high core product benefits and require less support services are better suited to […]
Product (P of Marketing Mix) & Product Mix: Definition, Features, Examples
Product is the first element of the marketing mix, and developing a product strategy requires coordinated decisions on product mixes, product lines, brands and packaging and labelling. In planning its market offering, marketers need to think through various levels of the product: the core benefit, the basic product, the expected product, the augmented product and […]
Organizational Structures for Global Marketing
The success of a global strategy is influenced by the selection of an appropriate organizational structure to implement that strategy. The ideal structure of such as an organization should be a function of: the products and services to be sold in a marketplace the external and internal environment Theoretically, the way to develop a global […]
Guide to Editing and Proofreading Academic Work
While creating an excellent assignment takes time, it is important to ensure it answers all the questions, flows well, looks good (formatting) and is free from spelling and grammatical mistakes. Here’s how to edit and proofread your academic work effectively to produce a high-quality academic work. What is Editing? Once you have finished your work, […]
Decision-Making Matrix (Pugh Matrix)
The Pugh Matrix is a decision-making tool that is used to compare multiple alternatives and select the most favourable one. In this method, the various options are evaluated based on several weighted criteria. This is a variation of the L-shaped matrix. This tool is also referred to by many other terms such as decision grid, […]
Global Market Segmentation: How firms assess and select markets
Global Market Segmentation: Here’s how firms screen and select country markets to enter. Importance of Entering the ‘Right’ Market There are over a couple of hundred countries and territories, but most firms do not compete in all those markets. Adding another country to a company’s portfolio requires additional investment and represents a new business risk. […]
Human Resource Management (HRM): Definitions, Concepts, Theories
Human resource management (HRM) includes processes and activities for effective workforce management. Learn more about the various practices and theories related to HRM. Importance of Human Capital The success of businesses depends a lot on the workforce. A motivated and skilled workforce can do wonders to the growth of the company. However, there are many […]
Market Entry Modes in Global Marketing: Expansion Strategies
Foreign Market Entry Strategies: Various ways to enter the international market. Any company that wants to enter the international market has to take some strategic decisions pertaining to that foreign market; it has to analyse the market and plan its entry in that market, besides considering other factors. Expansion Strategy Concentration versus Diversification Concentration: A […]
Standardisation vs Adaptation (Glocalization) in International Marketing
Marketing mixes can be standardized (global) or they can be adapted (local). Marketing mixes of most global companies tend to be “glocal” with some amount of localization. Standardisation vs Adaptation in International Marketing Once the firm has decided which countries to enter and which entry modes to use the next issue concerns how to design […]
Internationalization: Definition, Models, Barriers
Internationalization is the process of expanding business operations beyond domestic boundaries to international markets using various market entry modes. Let’s understand the motives behind a company’s decision to compete in global markets, and the right time to internationalize. What is Internationalization? Today most large companies operate outside their home markets. “Internationalization” is the term used […]
Understanding Free Trade: Definition, Pros, and Cons
Put simply, Free trade is international trade where there are no government policies restricting the import and export of goods and services. While economists consider this as the best approach to maintain a healthy global economy, this is more of a theoretical policy become some restrictions do exist. Free trade means importing and exporting without […]
Organization Culture: Importance, factors and how it can be changed
Culture is gaining more attention in business nowadays as it is known to impact business due its influence on manners, behaviours, business negotiation process, decision making, etc. Due to globalisation, businesses are expanding their operations around the world; as a result, it is important to have understanding of different cultural patterns. Organizational culture refers to […]
Netflix: Various Strategies
Various strategies (innovation, growth) adopted by Netflix to become the largest streaming service provider in the world. About Netflix Netflix, the world’s largest online streaming services provider, serves a diverse subscriber base globally. Its popularity over the years has been driven through original content and sound use of technology. Netflix maintains that member satisfaction is […]
Kotter’s 8-Step Change Model Explained
Kotter’s 8-step change model is a change management model that lays down the process for organizations to efficiently implement a new change initiative. Introduction to Kotter’s Change Model Dr. John Kotter had first introduced the model in his book ‘Leading Change’ (1996); the model was then updated and published in the book ‘Accelerate’ (in 2014). […]
I am Malala: Class VI (Class 6) ICSE English Literature
“Why I don’t wear earrings” from I am Malala is a chapter for Class VI (Class 6) ICSE students in English Literature. In some other boards, the Malala chapter is also named “Why I Don’t Wear Earrings and Pashtuns Don’t Say Thank You” or “Leaving the valley”. About Malala Yousafzai Malala Yousafzai was born in […]
Special Economic Zone (SEZ): Case Studies
A special economic zone (SEZ) is an area within a country that has business-friendly trade and business laws and is subjected to different economic regulations from the rest of the country. SEZs are set up to boost economic activity, promote exports, boost investments, develop infrastructure as well as create employment opportunities. Special Economic Zone (SEZ): […]
Comparative Advantage trade theory
Comparative advantage is the ability of a country to produce a particular good or service more efficiently (at a lower cost) than its trading partners. Comparative Cost Advantage is a situation in which a country, individual, company or region can produce a good at a lower opportunity cost than a competitor. The Country concentrates on […]
