Running Header: GLOBAL MARKETING

Global Marketing

[Name of the Institute]

Global Marketing

Introduction

In the contemporary business environment the phenomenon of globalization has had a significant impact on the global business sector. The multinational organizations that are formed by the investment by countless stakeholders cannot be defined as an entity belongs to a specific region of the world. The multinational organizations in the modern era are essentially driven by their economic interests and the persuasion of the majority stockholders. The process of globalization has existed on a limited scale throughout the advent of the industrial revolution (Samiee & Roth, 1992, pp. 16). In the mid twentieth century up till the twenty-first century, the organizations have been able to expand their operational functions from their native regions to various different global locations. The primary reason for the phenomenal growth of the globalization phenomenon can be attributed to the interdependent nature of the global economy and the advancements in the global technology standards. It is due to the innovation and the advancements in the technological sector that a brand in one country is also well known in various other regions of the world, hence the organizations can establish a global marketing and branding strategy. The internet is one of the biggest facilitators of the globalization process, because it has basically united the entire global market, through a vast and comprehensive information sharing network.

The primary dynamics of the contemporary globalization phenomenon are drastically different form the historical perspective. Traditionally the organizations belonging to the western countries, only viewed globalization as a tool to attain the cheap resource available in the developing countries. It is due to this reason that initially the majority of the multinational organization only outsourced their elementary organizational functions to these countries, and their primary markets still remained in the developed western market. However in the recent era the western organization have realized that the developing countries can also present a vast consumer market, and they can seek to diversify their risk and operational activities by venturing into these markets. Due to the process of globalization the business entities are no longer defined by their regional attributes, as they have existence in several different global markets. This process has helped the socio economic factors of different countries to become interlinked, and has contributed to the interdependent nature of the global business sector. The recent financial recession, which had an impact on essentially every country of the world, shows the interdependence of the various countries (Quelch, 1986, pp, 11). As these countries are interlinked through the operations of the multinational organizations, they're economic activities are impacted by a disruption in any one of the major organizational entities.

Discussion

Literature Review

The phenomenon of globalization has enabled the contemporary organizations to gain access to the ample and diversified global markets. However along with the opportunities in the global arena, the modern organizations are now more vulnerable to the risks presented by the global business environment. Traditionally the majority of the organizations had a relatively easier business environment, as they only had ...