The Emergence of Globalization and the Marketing Mix Essay

The Emergence of Globalization and the Marketing Mix - Essay Example The marketing mix that is appropriate for all this multicultural world market for multinationals must converge to achieve the same goal of expanding the market while at the same time saving the firms cost of operation. Different regions or countries have a specific social framework and any marketing strategy and the communication strategy need to conform to this diversity factor lest it realizes insignificant publicity and product promotion. The cultural factors are closely attached to the economic policies of the specified regions, their religious beliefs, political ideologies and the level of economic development. An effective marketing communication plan needs to be designed to promote the image of the firm at the local level with a global view. It is therefore imperative that market research is thoroughly carried out to develop a communication plan that is in line with the demands of cultural diversity and political environment (Smith, Pulford, & Berry, 2009, pp.75). In reporting this subject a case study of two firms is important to bring out the real concept of integrated market communication strategy. Some examples of multinational companies include Coca-Cola, Toyota, Nokia Inc and others. These firms have central headquarters in a given country but their operations are decentralized in different regions like the Middle East, West Africa, North America, and Europe, East and Central Africa and many other regions. In this report, Middle East market is to be compared with Europe such that appropriate marketing plans can be observed by the multinationals to capture a substantial market share through the market (Bjerregaard, Lauring, Klitmoller, 2009, pp.55). One product that would serve best to be used for comparison is the Coca-Cola soft drinks which are consumed at international level. Comparing the United Kingdom and Saudi Arabia would provide the best results in terms of the best-integrated marketing communication plans viable across two market environme nts. The choice of these two states is based on their cultural, taste, behavior and the general spending pattern differences across the consumer body. This would facilitate designing of a customer-focused marketing communication strategies for Coca-Cola Company and other multinational counterparts operating in the same product line like Pepsi (Egan, 2007, pp.134). To establish this comparison, the local cultural model of the two states need to be discussed and the prevailing marketing communication environments in each provided by the aid of graphs and charts. Some of the key marketing focal points that will provide comparison grounds comprise of the culture of the citizens of the two countries, their political system, consumer behavior, level of media activity and effectiveness and the overall competition within each country’s local market.

Business law Essay Example | Topics and Well Written Essays - 1000 words - 13

Business law - Essay Example In case of a valid contract between two parties, both the parties must be a promisor as well as a promisee. This means that both must gain as well as lose something as a result of the transaction made under the terms of the contract. The consideration is what is exchanged between the contracting parties during the transaction. In the case of a contract for providing some services, consideration for the service provider is the receipt of payment whereas for the client, the consideration is the service rendered by the service provider. Hence, while consideration may be different for the contracting parties, it must flow from both sides by parties acting in the capacity of promisee. Consideration for one party may be in the form of cash while it may be in the form of intangible services or a tangible good for another. Nonetheless, the existence of consideration in one form or the other is essential for a valid contract. It is important for consideration to meet certain requirements before it may be considered as valid consideration. Consideration must not be a past action unless it was done in response to a specific request (Whincup 74). English law does not recognize past consideration as valid (Tonapi 2). In other words, a promise to provide some consideration must be made before it is provided or executed. In the present scenario involving Kris and the claim for damages, the provision of complimentary chocolates is not valid consideration because it was not agreed upon between the parties at the time the agreement for providing chocolate for the wedding cake was made. The complimentary chocolate was provided later as a goodwill gesture and was not an expected part of the contract. Secondly, the consideration must move from the promisee. The consideration should move from both sides but the parties must execute it in the capacity of promisee instead of promisor. Mutuality of agreement is an important element of valid