Global Market Assessment, Free Essay on Globalization

Globalization has led to a more competitive and vigorous marketing and techniques in the market. There are different models that companies can use to identify the best market but they have to ensure that they adopt the best systems and understand the market before instituting a marketing strategy. Different countries have different dynamics that make the methods and techniques in these markets to be differentiated. The composition of the market is therefore assessed and the best and unique models and basis are developed to give the business a chance in the individual markets. Companies need to adopt an integrated approach that meets the demand and are critically positioned to ensure that the market models meet the individual consumers in the market. Companies have found that an analysis of the market gives the businesses a chance to compete with other major companies especially in a highly competitive market. This paper assesses the different models and market dynamics that are present in the Chinese and UK markets that need to ne assessed before making the best global strategy in entering the market. There are differences in the marketing models and attributes that make each of these markets unique therefore, a need for an informed assessment is required to make the best approach in the individual markets. This paper uses a hypothetical case of a smart phone selling company in making an assessment if the two differentiated market.

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Assessment of the Global Markets

This paper uses the cases of China and UK that are two diverse and unique markets that have differentiated models and attributes that are necessary in each country. The markets have unique qualities and the dynamics of each market makes it implicit for companies looking to invest to ensure that they adopt working models to take advantage of the markets. This paper assesses each market and the individual unique characteristics in making an interpretation and model that is uniquely placed in each part of market. Through the use of the four kinds of distances the paper measures and makes an analysis of the individual market aspects to make an informed choice on the best strategy that needs to be used.

Cultural differences

China has more than 1.3 billion people making it one of the largest markets in the world. The country has a lot of people who are in the middle and upper class in the society (Dietrich, 2012). One of the main characteristic of the Chinese people is that they are drawn to prevalent brands that are familiar and popular among the people. China is one of the most competitive markets in the world; therefore it is one of the largest models that can be identified in the market. Companies looking to enter into the Chinese market are too many as it offers a large number of consumers for their goods. It is therefore, critical for a company to understand the unique characteristics of the people in the country before a launch. The people are skeptic of the Western country brands and models and if a company wishes to invest in the country, it has to adopt different models that are targeted towards the models used. China plays host to very many cultures with people coming from different parts of the world. A smart phone company therefore, needs to understand the unique characteristics of the different cultures before their launch. Religious factions are also diverse with Buddhism being widely practiced making it imperative to adopt a model that is targeted at all people across the board and not a single group in the society (Doole and Lowe, 2005). One of the main factors that need to be used is marketing communication that is targeted at all the people in the society. With the proper marketing communication models, a company can reach out to customers in the market. There are different models of understanding and relationship that is identified in the market making it critical to develop appropriate measures and controls that are uniquely placed and valued in the market accordingly.

On the other hand, UK is made up of Western culture where most of the people are Europeans. The country is made up of middle and upper class people in the society with the level of resources available in the society being very high (Dugan, 2004). There are differences that can be identified in the models used between the two countries but with a population that is made up of mainly Europeans a company looking to enter in the market has a better chance. The main aspects that people in the UK value is quality products that have the set qualities and aspects that can last and serve them properly (BBC, 2012). The name of the brand or the country of origin matters little but the quality of the products sold makes all the difference. Marketing communication is also critical in these countries since it offers a difference between the models adopted and individual attributes and techniques that are appropriate. It is therefore critical to ensure that companies adopt the best models that are aimed at reaching out to the customers before looking to develop the best techniques and models in the market appropriately (Dietrich, 2012). An assessment of the different players in the market and the different models that have been used gives an indication of the different factors and qualities that have been used in the country in the long-term. Depending on the strategies and tools that are available for the company in the market there is a chance to connect and develop better models that are aimed at reaching out to the potential customers.

Administrative

In china there are different administrative models that are present and are implicit in making important decisions in the market. Administrative methods are requirements that are needed before a company can invest or look to develop its business in a specific country. China in comparison to UK has a lot of bottlenecks that have been put by the government for companies or businesses looking to invest in the country (Aswathappa, 2005). There are major differences that can be cited that are all aimed at ensuring that the businesses and companies in the country are controlled and measured accordingly. The system of government in China is more autocratic than democratic making it critical for the companies to look for the best models to enter the market. China has a government structure that controls most of its models and critical aspects in the country. There are differences models that can be cited in the country with most of the businesses being heavily scrutinized by the governmental structure or model that is put in place. It is therefore critical for companies to ensure that they develop models that are critical and important in setting the best models of control and modeling that is important for businesses in the country. The government is however reducing the controls and structure of the system to adopt a more capitalist model that will be aimed at giving the people a chance in the societal structure that is adopted. It is imperative for the company to ensure that it has understood the different administrative structures that are required by a company under these systems and give the company a chance to develop better models and structures that are appropriately set.

On the flipside however, Britain has a more capitalist model that does not look to control the company once it has set-up in the country. There is a major difference in the models that are adopted and critical in giving a chance to companies in the market. The main difference that can be identified and controlled in the systems adopted is the freedom of the market structures and controls implemented in the systems (Dietrich, 2012). The country mainly looks to ensure that the market forces are in constant control of the individual models that can be identified in the market. Marketing structures define the approaches that are identified and individual models that are important in developing the best structures and controls that are imperative for the larger market (Zoltners et al, 2004). The two markets therefore require differentiated processes and approaches that are crucial in entering the market and deriving important structures and controls that are suited for the individual markets.

Geographic

The geographic location of a country determines that models and appropriate structures that can be used and defined in the market. The location of a country determines the models and appropriate structures that can be used in the market. The location of a company and a country defines the positioning and structural processes that are critical in giving the people a chance in the market. There are different approaches that companies may use in looking to enter the market that is influenced by geographical location. One of the aspects that is important is looking for a method to enter into the market and deliver the appropriate goods and marketing tools in different locations. According to Aswathappa (2005), China is located in the Far East and if a company was to be in the US it has to look for the best processes that can be used to get its products in the market. There are different structures that are used in the market with the entities looking to take advantage of individual models and aspects that are critical in the company structures. Smart phone companies require spares and other accessories that are not manufactured in the country and the proximity of the country to the location of the accessory company is also imperative. The methods that arte used to reach to the customers are also determined by the geographic location of the entity to the company. UK is centrally positioned and can therefore, be a perfect spot for the location of the company or different options that are available to the company as a whole (Hollensen, 2010). The location of the country within the world defines the fundamental attributes and concepts that are defined and developed on the models needed. UK is therefore, suited for a company in the US or other regions due to its proximity and region where the country is located.

Economic indicators

The economic indicators that are available to a country and the models that are adopted also form a critical model or critical part in creating a working relationship or model in an individual country. There are different defining conditions that make a country a natural hub for investments and models that are adopted in the region. China has a GDP of 8.2 trillion dollars and a purchasing power that is approximately 12 trillion dollars (Bose, 2010). It is therefore, perfect for companies looking to invest in better models and create a proper modeling that is important for a specific country in the society. The country plays host to some of the largest companies in the world and the level of population by the country makes it one of the fastest growing entities in the world. China has a potential of growth that surpasses all the other countries with the number of people in the country expected to grow exponentially from the current 1.3 billion people. The purchasing power of the country is also expected to grow and the market is a perfect platform for growth as a company. There are different models that the company however, needs to assess since the number of companies that are looking to the country in future is also increasing. China is attractive to investors as they look to increase the number of people are currently in the country and develop better models and appropriate structures that are critical of individual control within the country. China is a natural development hub and with the number of people that the country currently hosts these numbers is only projected to increase significantly in future. Globalization has led to companies looking f...