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 Challenges of Global marketplace

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chào bạn mình là Hưng

chào bạn mình là Hưng

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Challenges of Global marketplace Empty
PostSubject: Challenges of Global marketplace   Challenges of Global marketplace I_icon_minitimeThu Apr 24, 2014 11:11 pm

Introduction
Companies can face challenges when launching a new product or service into the growing global markets. Multifaceted issues arise as our market becomes saturated with technology, global  applications, and legal and ethical implications. These components must be addressed to  ensure the success of product launch and market implementation.  Both benefits and challenges should be considered and evaluated by how relevant they are to market success.
Challenges in New Product Development
There is a vast amount of information available in a global market and providing a clear direction from information to implementation is an important aspect of product development. Clients and consumers need a clear message of intention and value in a product or service. A global market can provide a large selection and strong competition among well developed products. Providing these developed products or services will ensure a steady market value and increase consumer purchasing power. The development process must address the major points of  interest and provide a prominent outlet. The organizational structure of teams is extremely important to the success of any product, service, or functioning company in today's global market. Without such a structure, even the strongest performing companies can face failure. The correct market orientation also plays an important role in sales and distribution success.
Challenges: Development
Developing a product that is desirable and unique enough to warrant a consumer purchase is  a necessary consideration.  The success of a product or service may not completely depend on the actual value of a product, but rather on the perceived value to the consumer. Graham (2009), states that the customer holds the power of whether or not to buy and forgetting that point can cost tremendously.  Launching a campaign because a movement has arisen does not necessarily mean that the product will be well received. In an Ipsos Reid study (Graham, 2009) applying to Icynene Inc., women responded with an overwhelming response of 65 percent that the marketing presentation they were presented with was a gimmick to make them believe the product was “green” in nature . The men found it to be unbelievable by 75 percent. Being honest and marketing appropriately puts the product into perspective.
A global market brings great diversity and cultural influences that can effect a product response. Not every market in the global marketplace can sustain the same product price. Economic issues, cultural diversity, and consumer awareness are issues of consideration in the planning of product presentation to the marketplace. Pricing the product beyond its value to consumers could leave distribution numbers lower than anticipated. Apple was forced to lower the price of the iPhone a couple of months into their campaign and dumping the lower end version (Graham, 2009).  Consumers just did not respond to their strategy.
Challenges: Organizational Structure
Having a strong support staff capable of understanding the product and its application works well in a marketing campaign and product launch. Bringing a team together who work as a strong unit with clear objectives and asset values can define the very success of a product launch and the company itself. A sense of feeling needed and valued is important in staff retention and motivation levels of performance.
The environment of empowerment encourages teams to be creative and proactive rather than reactive to a subset system of authority. Using a positive work ethic and rewarding system that acknowledges worker value creates cohesion to the goals of the company. With a disjunctive alliance worker productivity is a challenge and goals are more difficult to reach. Perception seems to be the strength of marketers while management likes to analyze the facts (Ries, 2009). There also seems to be a pattern in right and left brain dominance. Using the logic centers of the brain may not allow you to see a creative perspective. While using the more right side of the brain might only be more interested in the reality of something (Ries, 2009). Finding the balance between the two is important to a team that can work together to achieve a successful venture.
Challenges: Market Orientation
Understanding the target market and the profile of the consumer is also essential to marketing success. Information on what competitors have to offer specific demographics in relation to marketing trends, product advancements, and consumer practicality builds on development. These products or services must have an application in the life of the consumer (Ries, 2009).  points out that IBM failed to launch a successful PC campaign because they were perceived as a “mainframe” company. The perception of the public became incredibly important to the launch of a new product. Failing to address this cost IBM 15 billion dollars in losses (Ries, 2009).
The knowledge of who the consumer is and what draws them into purchasing will provide a more prominent advertising target. Clear definitions of what the product is and how it is essential to market purchase and where it fits in the consumer market will define the scope of financial projections and the time needed to reach those goals. Graham (2009) points out that the consumers want an education and anything that does focus on that should not be included. With an easily accessible global market, consumers have the ability to do research and find many options for themselves.
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