Discuss about the Global Marketing Management for Business Relationship.
The difference in culture can be best observed in any business arena. It is important to note that the cultural believes and practices of Asian people differ from that of the North American and European people. The cultural differences are the major factor that leads to variation in the relationships in Asia and North America. First of all, Asian people believe in Collectivism practices in which the emotion plays an active role in building a relationship. In case of the Americans, they act as individualist thinking of own interest and benefits. There is a lack of emotional touch among the western people. In Asia, individuals treat each other well and portray humility. But in the case of Western culture, they primarily focus on self promotion (Katsikeas, 2016). People from Asia are attached to their personal life while doing businesses, whereas people from western culture are not much influenced by their personal life. Hence, there is a need of competitive international marketing strategy that must be flexible enough to help the company adopt to the factor influencing the business in a particular market with difference in culture.
A competitive international marketing strategy plays an important role in seeking growth on the global platform. It is important for the management to keep in mind the cultural differences while planning the international competitive marketing strategy. In order to seek success with the marketing strategy there is a need to consider the concept of relationship marketing that helps to develop better bonding with the customers (Katsikeas, 2016). A flexible marketing strategy with easy adaptability according to the market variances in respect to relationship differences can be helpful in developing a competitive international marketing strategy. Hence, it is important for any organisation to consider the cultural difference and relationship factors while developing a competitive international marketing strategy to operate in different nations of the world.
The theory of globalisation, effective international marketing can be ensured through efficient customer relationship management (CRM). In order to identify the networks relate to CRM, traditional networking behaviour of a certain market must be identified through market research. Through the identification of traditional networking behaviours, a firm can enforce online marketing concept to build customer relationship management and support system for the customer’s perspective. The client’s orientation in a different market will be evident for extreme development in CRM in context to effective international marketing. The online support system and CRM will bring new clients to the business producing new interest to the customers (Keegan and Green, 2012). Furthermore, networks have been identified as a motivator in effective international marketing to increase the standards of CRM. The foreign market commitments have been fulfilled through the networking systems creating maximum benefits. Meanwhile, SMEs can identify the role of formal and informal customer relationship entities following optimised networks. In addition to that, networks have recognised the social, ethical and environmental recital of a foreign market. Accordingly, international CRM tactics will be considered on the basis of the observations. Such efficient networking strategy can eventually benefit the global marketing providing support to the foreign clients via strategic CRM.
In order to promote successful cross-border trade, effective CRM in overseas market has been the key. First of all, the purchasing trajectory of the foreign market clients must be judged on the basis of the purchasing style and social conformity. In the case of Calleija Jewellers, British market and its public’s buying concepts have become a serious issue for effective CRM. Following the cultural and societal preferences of the target market, traditional PR campaigns and offline advertisements must be promoted to ensure effective CRM (Keegan and Green, 2012). In this way, a business organisation can create formal linkage to the customers. Apart from that, commitment to the customers must be retained in order to help firm’s progression. Such tactics will create a positive frame of mind among the target demographics that will motivate the buyers to select the items of the firm. Precisely, network theories can be applied to this regard to ensure effective CRM strategies of firm’s internationalisation. Such factors can ultimately increase the effectiveness of CRM to support the business in the foreign territory.
Internationalisation has several benefits as well as brings different issues to the business organisation expanding on a global platform. In the same way, Calleija also faces various key challenges while expanding to the United Kingdom market. The key challenges and ways to used by Calleija to overcome the challenges are discussed herein below:
Legal obligations: The differences in the rules and regulations of the UK government and the Australia government make it important for Calleija to consider the legal obligations while entering the UK market. In order to understand the legal differences, Calleija has contacted the Austrade to make them aware of the differences in legal obligations that must be considered while establishing business in the UK market.
Brand Awareness: Being a SME, Calleija faces problems regarding brand awareness in the UK market. Brand awareness is required to seek growth in the new market with new products. The company has employed local marketing consultancy firms to carry on its PR activities. Hence, it will help the company to overcome the challenges of brand awareness.
High level of competition: Calleija has established the store in a core location that has different multinational jewellery shows with good reputation in the market. In order to differentiate the product, Calleija focus on differentiating the product using pink diamonds that are mainly found in Australia. Hence, the company will overcome the challenges of high level of competition using product differentiation and various online and offline marketing strategies.
Country of origin: Another key challenge that is faced by Calleija is the country of origin. It can be seen that the British people will prefer local products as compared to the products sold by Calleija. Hence, the company needs a support of local companies to seek growth in the UK market (Kotabe and Helsen, 2008). Hence, Calleija has gone for a strategic alliance with Aston Martin to enter the new market of the United Kingdom.
Country of Origin (COO) is precisely a label that indicates the country of production, or manufacture of an item or product. The COO label signifies the origin country of an item. There are distinct laws, and international agreements may apply to define the country of origin of a product (Tadajewski and Hewer, 2012). Meanwhile, the label was designed in the United States of America, but it was manufactured in China. Understandably, COO has indicated a buyer about the country where the product or item has been shipped and produced. Country of origin can be recognised as one of the unique information to impress the purchasers as most of the buyers have their preferences.
Being a small Australian jewellery firm, Calleija Jewellers has faced significant issues and challenges due to the country of origin in exporting and marketing their diamonds in the United Kingdom. Herein, the preconceived notion of COO has created two significant challenges for Calleija Jewellers entering in the vast UK market. First of all, the diverse cultural background of the public of the city of London has established significant issues to the small Australian diamond merchants. The British heritage and pride of the domestic public have provoked the customers to buy original British-manufactured jewellery items. Therefore, the country of origin of the products of Calleija Jewellers has provided issues in product selling (Tadajewski and Hewer, 2012). The negative perception of the British customers of Australian jewels has created problems in the business for Calleija Jewellers. Hence, the organisation has to spend a lot of money and time in the PR campaigns to establish the brand identity in the UK market. Secondly, the distinct cultural and social norms of the local public have been an issue for the growth in business. To maintain a relationship with the clients, Calleija Jewellers has to facilitate the customers according to the demand of the social tactics. Moreover, the country of origin has cost too much to Calleija Jewellers to make it through in the British business environment.
References
Katsikeas, C. (2016). Global marketing of industrial products: Contemporary developments and future directions. Industrial Marketing Management, 35(5), pp.540-544.
Keegan, W. and Green, M. (2012). Global marketing management. Upper Saddle River, N.J.: Prentice Hall.
Kotabe, M. and Helsen, K. (2008). Global marketing management. New York: J. Wiley.
Tadajewski, M. and Hewer, P. (2012). Global contributions to marketing management. Journal of Marketing Management, 28(9-10), pp.1015-1020.
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