Introduction
Global marketing is implementing a marketing strategy across several markets around the globe. Global marketing can prove to be beneficial to the company, as it will save us resources, efforts, and guarantee high levels of consistency between all activities and in-market branding. The subsequent paragraphs are a discussion of the strategic global marketing plan and a recommendation why it will prove to be beneficial to the company by promising big deals of revenue if implemented.
The rationale as to why I am advocating for the company to make the globalization move is based on the five global considerations every marketer needs to think about. The analysis of the five factors is as follows:
The first global consideration is that the company should prepare for continued growth far beyond the typical Atlantic (Flanigan, 2011). The company has always had the aspiration of cutting edges and complexities by diversifying its markets. Not every international market needs to be considered but some matter a lot as there is a huge potential of successful operations and ultimate revenue maximization. For instance, here is a great opportunity to invest in Shanghai.
Based on the second global consideration, reinforcing brand in the global markets, it is essential that the company make the global marketing move (Flanigan, 2011). Higher prices and customer demand normally arise from the goodwill in a link to the brand a hard-won value that arises from mutual customer trust (Wassener, Buckley 2013). The brand name of the company will be reinforced by making the global expansion move. The global expansion will enhance the company's reputation and image in the eyes of the targeted customers in Shanghai. The enhanced reputation and image that we will create will offer higher and better chances of expanding further to cover a broader area in the People's Republic of China.
Once the company is able to set shop in Shanghai, it will be prudent to maintain a diversified portfolio. The company possesses diversified regional portfolios and can, therefore, grab this global expansion strategy while it lasts. Another milestone is that it is important to set up operations in different parts of the region so that a boom in one region can offset the effects of an economic slowdown in another region. Money circulation in Shanghai is very rapid as businesses are booming (Stewart, 2015). This is a strong indicator that the company's products will enjoy a high uptake in Shanghai.
Our corporate will aim at having an enhanced corporate information flow within our internal organization and between the company and the consumers as cited by the third factor that emphasizes effective communication both internally and with third parties (DeWeaver, 2012). Many multinational companies carry out their operations in English, but our identity will be exceptional in its operations. The company will brand the products in all the languages that are present in Shanghai. This will bring a sense of belonging to the target group of customers that will then result in higher sales and revenue maximization. The local customs and languages will be dominant in the operational factories and trenches.
The company will install and operate data portals, e-mails, and decision support tools in the Chinese language to enhance effective communication between the company management and employees, and between the company's personnel and the target customer groups in Shanghai. This is the fourth global consideration that needs to be taken note of and definitely, the company has the ability to pull all the required resources to make it attainable.
Ultimate customer satisfaction ought to be achieved at all levels wherever that customer might be (Flanigan, 2011). This is the fifth global consideration every marketer needs to put into consideration. International customers on frequent basis start their buying cycle online. They first browse in their local languages in order to get answers to their frequently asked questions concerning the product they are planning to buy. Prospects have the ability to review the safety advisories, technical data, product information, and competitive descriptions.
The company currently has its products posted online and anyone can review them anytime at their own convenience, all that needs to be adjusted (now that we are eyeing global expansion) is tailoring the services so as to be in line with the customs and local languages of the various inhabitants of the People's Republic of China. By so doing, personalized marketing and a culturally relevant experience will be attainable leading to the strengthening of customer relationships and improvement of customer satisfaction. These global considerations are within the company's resource ability and with unwavering determination, the company will be able to personally experience the benefits that come alongside global marketing.
The global expansion should specifically target Shanghai, in the People's Republic of China. Businesses in the city are blossoming and many recent investments in this city (by other companies in the same industry we are operating) have proved to be successful (DeWeaver, 2012). As at the end of 2014, China was the world's fourth-largest economy. Recently, China overtook the US towards the end of 2014 and early 2015. China savings and investments make up to close 50% of the GDP. The middle class of the country currently is over 128 million consumers and expectations are that it grows to over 640 million by 2020 (Stewart, 2015). China was able to move over 400 million people out of poverty during which at that time the middle class of the US was facing a major period of stagnation (Stewart, 2015).
The culture of the Chinese is warm and welcoming, the people in Shanghai are not tied to the traditional norms of that technology should not be embraced or anything that comes alongside it. In Shanghai in the recent past, money has been spent in building reliable infrastructure. This is one among the many reasons for China's rapid prosperity. China's visibility and economy explosion can be dated back to 2001 when it joined the World Trade Organization. The low-cost labor force also is one of the reasons behind China's strong competitive edge. Multinational companies have recently explored the option of reducing production cost by outsourcing production to China and have seen the remarkable degrees of success (Stewart, 2015).
The state of China is even at the moment considering taking a broader role in the existing international institutions. If this happens, the company's global marketing strategy will be at a better position other multinational corporations will be willing to invest in China, leading to better terms of payment, overall improvement in infrastructure and a general upward shift in China's economy which will be to our benefit.
In antiquity, China found very stiff competitions from foreign enterprises in industries that were technology, service, or capital related. But owing to the fact that multinationals come alongside their capital, superior methods, and foreign talent, the Chinese are able to learn while becoming more independent in the financially (DeWeaver, 2012). Tandem has high numbers of capable university graduates that will of benefit to the company once it sets its roots in Shanghai. Attractive and desirable wage plans will be offered and qualifications targeting these capable graduates be posted online.
One major aspect of Chinese culture if the "face" concept (Flanigan, 2011). Face in this case is a mix of social role, public perception, and self-esteem and has the potential to either create a favorable business atmosphere or destroy it. The Chinese culture is all business welcoming to the outsiders and the locals will even provide the required labor but then one needs to be extra careful when dealing with these people, they are very sensitive. The company's business representatives that will be sent to China will, at least, have to learn a few concepts of the Chinese culture in order to fit well into the Chinese society.
The ideas of globalization by the company are not all smooth sailing (Stewart, 2015). Not every employee of the company will second this strategic global marketing plan. Some might discredit the idea arguing that it is not worth taking the risk by expanding and moving to a foreign market and that it is better we maintain the local market. Well, in business one should not avoid taking a risk but should take calculated risks. In our case, we are confident that the operations the company will carry out in Shanghai will be successful. Some of the key factors we are relying on to become successful include; improved business infrastructure, readily available cheap labor force, and a huge market for the company's products.
Recommendation
Coupled with a series of government reforms and a rapid market transformation, China, especially Shanghai is no longer just a country for the manufacturing of low cost. It is also day by day becoming an attractive destination to carry out business. Several western countries such as Volkswagen, Starbucks, and Boeing have already established their presence in China. Since our company is aiming at global marketing, I recommend that we also grab the chance and set roots in China and am certain enormous profits will be realized alongside building a strong reputation of our company.
References
DeWeaver, M. (2012). Animal spirits with Chinese characteristics. New York: Palgrave
Macmillan.
Flanigan, J. (2016). Columns Newest First | Oldest First Page: ← prev123456next → Search 58
Articles: Search A Wave of Chinese Money Gives a Lift to Companies Struggling in Tough Times. Topics.nytimes.com. Retrieved 19 March 2016, from http://topics.nytimes.com/top/reference/timestopics/people/f/james_flanigan/index.htm
Stewart, J. (2015). Why China’s Stock Market Bailout Just Might Work. Nytimes.com. Retrieved
19 March 2016, from http://www.nytimes.com/2015/07/10/business/international/why-chinas-stock-market-bailout-just-might-work.html?_r=0
Wassener, B., & Buckley, C. (2013). New Chinese Agency to Increase Financial Coordination.
Nytimes.com. Retrieved 19 March 2016, from http://www.nytimes.com/2013/08/21/business/global/chinese-agency-to-increase-financial-coordination.html
