Global marketing brands and social media

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EXECUTIVE SUMMARY

Continued improving business environs and resources available has permitted people to follow new inventions and more opportunities. This doesn’t only ensure great success in business but also improves the overall nature of the world market.  Entrepreneurship, methods, tools, Concepts, and their uses allow for a widespread examination of the modern innovations and tactics to becoming a fruitful and sustainable global marketer. This part is very useful for academicians, researchers, and students of higher learning who are interested in learning more about entrepreneurship and utilizing the evolving practices of enhancing and optimizing pursuits in entrepreneurship. In this paper, I have analyzed global marketing into depth including theories, concepts, and techniques used in entrepreneurship. I have analyzed innovations and how technology and social media can be used to positively influence Global marketing and brands. What are the main challenges facing global marketing? Such issues have been analyzed in-depth in this paper.

CONTENTS

EXECUTIVE SUMMARY.. 2

Part 1: THEORY.. 3

Part 2: OUR GLOBAL WORLD.. 4

Part 3: MY GLOBAL WORLD.. 9

REFERENCES. 11

GLOBAL MARKETING BRANDS AND SOCIAL MEDIA

PART 1: THEORY

Global enterprises are companies and industries that go beyond national borders. Entrepreneurs move to another country to do business. Such a form of entrepreneurship involves goods exportation, licensing, and opening of new sales offices in a foreign country. Entrepreneurs carrying out business operations in a foreign country are known as international entrepreneurs.

Nowadays, Global marketing is the dream of many entrepreneurs all around the globe. Worldwide entrepreneurs assist customers to widen their entrepreneurship globally. The moment the domestic market is flooded by the business then entrepreneurs think of crossing borders to expand their business (McDougall and Oviatt, 2000). The value of the business in the domestic market is improved by international entrepreneurship.

The global marketer has to manufacture goods and products in order to satisfy the foreign customer. Furthermore, the entrepreneurs have to maintain a good quality of their products in the world market and also in the local market as per the client’s needs.to run the business successfully, the satisfaction of the customer is very important in entrepreneurship.

Marketing strategies and social media

The case of PRIMARK

Primark is a retailer that has a variety of products, most of them related to fashion, i.e., men, women, and children’s clothes. It also has beauty products and homeward, which are provided at low prices. Primark is maintaining and cumulating its market hold for its products and services by mixing highly competitive strategy in prices, Promotions in sales, and general adverts. Primark is currently using Loyalty systems, and this raises the consistency of its already existing clients.

Primark has got a website that advertises its products through showcasing, and the company also utilizes show media. Instagram, which has over five million followers, is the central media platform used by Primark to advertise (Arriag et al, 2017). In the year 2018, the retailer had a 7% hold in the fashion marketplace. In the UK, Primark stores are widespread in over 174 stores countrywide, although its origin is traced back to Ireland. What’s going on in Primark currently is a sustainable cotton growth project which aims at growing cotton locally at a lower price. Primark is partnering with local farmers to the success of the project. It is funding a program known as connecting, which is assisting Female farmers in growing cotton locally and sustainably.

Innovations and sustainability

The world is changing, and technology has taken over many traditional methods of doing business and marketing at large. Companies are also increasing, and therefore completion is also growing. Companies and other organizations are widely using the internet and another social platform for marketing their products, even hiring ( Zhang and Liu,  2017). There are other companies that are even selling their products online. A company needs to study the needs in the market and apply the most effective method of the spa to effectively reach their target audience. In this 21^st century, 70% of grown-ups are using Facebook dynamically and 75% of those individuals visit the site daily according to a survey conducted in 2019. Technological advancements on social media have made it easier for companies to set and order information. It’s quite clear that a slight determination is needed to influence the buying decisions of individuals online.

Key challenges

International and new ventures normally don’t have enough infrastructures to maintain widened operations in various international markets. Furthermore, the great physical distance brings about time variations which are difficult to cope with.

Foreign systems of politics, environment, taxes, regulations, and systems of labor are different. The entrepreneur’s choices, for example, the location of the company he chooses will influence the returns of shareholders and also their capacity to build more capital. Clients expect business starters to have the ability to provide the quality that’s normally associated with big companies. That’s a great requirement for a company that has just crossed the border.

PART 2: OUR GLOBAL WORLD

The case of Eslite in Hong Kong

Introduction

Bookstores are encountering a big challenge in this 21^st century, particularly in the city of Hong Kong. This year the local retail market is flooded. Bookstores hardly make it in Hong kong. Eslite needs to acquire clients attention.Eslite needs to focus on creating an environment that is comfortable for customers to stay a little while longer. Raising the groups targeted not only individuals who love reading but also individuals who have a fancy style of living with books and other merchandises that are related. Political tension and corona virus pandemic in Hong Kong is also affecting the business .This makes it even more difficult for the industry to retail its products. Eslite must find an alternative means of surviving this adverse situation. The industry at the moment is recording very low sales which are a big problem. Furthermore there’s high competition from e-books and internet retailers.nowerdays, individuals are more inclined to e books.

Analysis using PESTLE

Political

Politics are related to the government. In Hong Kong, low taxes and stable rates of exchange are allowed by the state. Hong is a good point of transaction as Eslite tries its developments in Mainland China. Policies are formulated in china, but the book store should also consider selling political sensitive, designer and comic books apart from the sensible books permitted in china. Economic factor

Economic issues affect availability of capital total cost and demand. Residential property is rising in the past years. Hong Kong is a very expensive city globally. Many cases of demonstrations have occurred in Hong Kong starting from March 2019.The demonstrations have been peaceful but it had affected public transport in a serious way and brought about a lot of inconveniences. Considering recent problems of corona virus, the rates of rental have reduced.

Social factor

Since it’s a traditions bookstore, it mainly relies on the sales of textbooks, examination materials and exercise books. Most individuals in Hong Kong don’t love reading. They don’t read for fun but for utility. What is interesting is that, following a survey carried out in 2019 by Hong Kong book fair, it showed that most individuals loved fiction books(64%),literature(34%) and travel books 26%.People utilize over twenty three hours of reading in a whole month. Parents in Hong Kong are ready to use money for their kids to buy stationery and books. They normally take their kids to the book store where they can select few book titles, lie on the floor and read the texts loudly before carrying them home as treatment.

Technology

The tech is utilizing to gain a competitive advantage and continue advancements. Eslite, which is largely physical is having a lot of technological challenges specifically e-books, online bookstores and download of pirated books (McDougall and Oviatt, 2000). EBooks are availed at an instant, by just clicking one button people can instantly download and read a book online. EBooks are not yet spread up widely in Hong Kong since few Chinese books available can be accesses in electronic gadgets. Considering a satisfactory design and implementation of a good e service particularly a website will alleviate the problem of e service. Eslite have to enhance their online services capacity in their online shop and design a more enhanced and a user friendly website. Most of the time, online users know exactly what they want to read.

Legal

The legal system in Hong is well structured and laws of commerce which are highly respected in the world. Creditors’ rights are well guarded over movable goods which are accompanied by sufficient supply of asset catered loans in relation to immobile assets. Protection of intelligent possessions is accustomed to worldwide commercial dealings. Eslite needs to join the global design and put out their own label or a micro brand in the shop stores of Hong Kong.

Environmental

Eslite is exposed highly.consrtucting an online shop which allows more opportunity to royal customers (De Mooij, 2018). Nevertheless as influenced by the societal environment, online shoppers will assist people of Hong Kong to freely select the book delivery service which is a free service and this can be a very attractive part.

SWOT analysis

Strengths

Eslite has developed a groundbreaking and innovative platform that will bring together human artistic style creativity and life. It’s a chance for clients to feel a pleasing lifestyle. Eslite is now exposed in Hong Kong and it can be utilized to expose other micro brands. Considering global trends of selling the products which are related to books such as pens, pencils, revision materials, inks and notebooks Eslite will need to add more micro brands and other global products of various types the same way it has Sarutahiko Coffee to Taiwan.   Pop up shows with various topics, workshops and all time special shows have re-opened. Due to small space, Hong Kong book store cannot allow a huge amount of books as that of Taiwan’s Eslite. Unpaid service delivery of services Taiwan to Hong Kong is attracting wide range of clients.

Weaknesses

Wide range of products give clients more freedom of choice.sometimes they just come and hang around and finally go home without buying something and this calls for customer service management. Opportunities People of Hong Kong care more about themselves .Eslite has a good health presentation and also a good view. This will assist in promoting healthy food products in the shop and link up with a healthy brand of food stuffs. For the choices of books, Eslite have a wide range of unpopular books since the closure Pageone and Dymocks .its difficulty for indivuals to find get unpopular books. Utilizing the favourite geographical extent to sell books with political sensitive topics, it’s very attracting for tourists and people of Hong Kong.

Threats

Due to the rapid spread of corona virus client turnouts is very low. People prefer to stay home rather than hang around. Individual book sellers are threatened and they need to build up good connections with family customers. Furthermore, Hong Kong has many entertainment centers such as play stations, watching movies and therefore reading a book may not come first.

Analysis using Value Chain

Value chain analysis permits Eslite to control of behaviour which focuses more on the process of selling than outputs.

Quality control and logistics

Eslite has its own logistics which puts together enterprises which give solutions to logistics, services of constructions and consulting planning that meets the client’s development. This in turn allows a good control of quality the process of shipping.

Sales and Marketing

The profits of the company will be enhanced by raising the behavior of engaging the client. Convenience of services, quality of services and fairness in service delivery are the most significant elements. Additional online adverts should be done more frequently and the tag function in social media should be utilized more.

Office safety and security

For the safety of customers and employees, all staff will need to put on surgical masks, wash hands frequently and use hand sanitizers if possible. This is to protect them from contracting corona virus.Warning posters that remind clients to cover their mouths while sneezing and coughing, wearing facial masks and washing hands should be available.

Staff needs to use ID cards to go in the offices that have electronic doors. The outside and inside environment is equipped with all office with electronic access control and entrance personnel control; employees need to use ID cards 24 hour CCTV monitoring system.

Staff training

Eslite offers the skill developments that are offered in most job settings. Training that concerns service offering and safety training are offered on the work place. Having a clear reasoning and judgment is key for staff to gain higher sales.

Customer service

Establishing a strong relationship between clients and sales people is a significant silent assent for the industry. Eslite gives a good training to their staff to provide services of high quality. Even though the quality of service is a subject of discussion, Eslite still has an excellent convenience of services.

Recommendation

Loyalty reward programs

Clients feel they are valued once they have been presented with a good designed loyalty programs. They cannot be easily coped by rivals. Although a reward programs are already existent in Eslite, they mainly concentrate on types of reward and added services. A reward program should focus more on improving personalization. Analyzing the buying records of clients can give away which are unique and annual discounts annually

Eslite logistic and online platform

Corona virus is a serious pandemic and many individuals prefer to stay home. This is the perfect timing and an opportunity for Eslite to introduce an online website for the people of Hong Kong. Since students have cancelled many lessons till March, discounts on the online shop will attract many clients. Fiction and comic books are the main products to be discounted. Eslite need to develop feature in smartphone apps with websites that are mobile friendly. What’s more is that Eslite need to enhance their mobile rewarding application.it does not represent the Eslite nature since it still lacks special rewards, it should be similar to that of Taiwan. It’s important for Hong Kong to link with Taiwan’s online shop.

PART 3: MY GLOBAL WORLD

Continued improving of business environs and resources available has permitted people to follow new invention and more opportunities. This doesn’t only ensure great success in business but also improves the overall nature of the world market (McDougall and Oviatt, 2000).  Entrepreneurship, methods, tools, Concepts and their uses allows for a widespread examination of the modern innovations and tactics to becoming a fruitful and a sustainable global marketer. This part is very useful for academicians, researchers and students of higher learning who are interested in learning more about entrepreneurship and utilizing the evolving practices of enhancing and optimizingpersuits in entrepreneurship.

Following Baumol,the theory of economics alone has failed to give analyses which are satisfying, whether it’s the function of entrepreneurship or its application.evertheless,various assumptions in  theories of entrepreneurship center on three main entrepreneurship Aspects which are nature of the decision making system, nature of opportunities and nature of entrepreneurs. The aspects give birth to two theories which are creative and discovery theories.

Innovation Theory:

J.A. Schumpeter advocated for this theory. According to him, entrepreneur is just an innovator who introduces new mixtures of styles. According to this theory the focus is just innovation. He allows separation of an inventor and an innovator. According to Schumpeterian, inventor finds out new methods and new goods and materials (Iwai, 1984).  An innovator on the other is the one who uses the discoveries and inventions to now make the combinations. With the assist of these combinations he makes better products and goods which result to satisfaction and more profits.

Entrepreneurs are not a specific class themselves as workers and capitalists. A person becomes an entrepreneur when he applies the new combinations and stops being an entrepreneur once he/she settles down to carrying out the structured and laid down business. In accordance with Schumpeter, an entrepreneur will exist if he/she combines the production factors for the first time.

Maintaining the combination isn’t an activity of entrepreneurship. In this manner, theory of combination varies from the theory of rent developed by Ricardo who included the word entrepreneurial ability as production factor which is independent and is mainly profit entered. Therefore this particular theory does not give a solution to the problem.

Limitations of innovation theory

• it ignores people who run laid down businesses without being innovative
• Entrepreneur who is innovative is represented as the most dynamic type of enterprise. However this entrepreneurship is not found in India.
• Too much is emphasized on innovations ignoring danger taking and putting together entrepreneurship aspects.
• Theory assumes that an entrepreneur can only be a large scale businessman. Is an individual who brings about new things? However, in real world, in the start of operations, an entrepreneur does not have a large operation.
• It does not answer questions such as why some nations have widespread talents of entrepreneurship more than others.

Concepts

Risk Bearing Concept

This is the main and most popular concept. Entrepreneurship is a process of taking many risks. This has uncovered that an entrepreneur has to bear widespread risk types to putting up a new business venture and also operating tithe risks are connected to variations in time and price changes (Virtanen, 1997). The concept of entrepreneurship has uncertainities.uncertainity carries risks which cannot be predicted or insured.

Innovative Concept

Following this concept, entrepreneur is somebody who brings in something new in the world of economy. Innovation is a special instrument for entrepreneurship. Following this concept, entrepreneurship is considered as the familiarization of wide range of innovations in industries, new production systems and procedures, new methods of marketing, new enhanced qualities of raw materials new mixtures and approaches. Therefore this is considered as the 21^st century concept of entrepreneurship.

Professional Concept

Current professionals of management agree that entrepreneurship is a professional concept. They argue that entrepreneurship can be developed by education and training. Having a managerial ability can be achieved through education and training and therefore attitude of entrepreneurship can also be cultivated by learning and education. This explains why private sectors and governments carry out various programs of training for the development of entrepreneurial ability.

Result Oriented Concept

Entrepreneurship is known as result oriented in this modern era. Now it’s not very essential what pressure has been put for achieving goals or the labor quantity which has been utilized and what is important is what are the outcomes? In business world, individuals who make it in achieving the goals are recognized as entrepreneurs.

Techniques

Technique of Business Model Development

This portion practices the Business Model Canvas and its aspects to consolidate business ideas into a concept that graspable and can also be analyzed and tried. To find a business model that is sustainable, you need to gain fit in market. This means that the preposition and features of products and services fix needs to tackle needs and desires of clients.

Technique of Customer Development

In this process, humans are talked to, their data and info collected and analyzed. According to evidence from the feedbacks, the entrepreneur values their preposition.

Agile Development

This is about developing products and services in an iterative way by starting with the basic feature set in a minimal viable product MVP and presenting that to customers and being prepared to continually go back to the drawing board until you hit upon the features that really meet a significant customer need or desire.

REFERENCES

Arora, N., 2018. ATL, BTL, and TTL Marketing in Education Industry. International Journal of Research and Innovation in Social Science, 2, pp.13-15.

Arriaga, JLDO, Domingo, D.A., and Silvente, V.B., 2017. Facebook in the low-cost fashion sector: the case of Primark. Journal of Fashion Marketing and Management: An International Journal.

De Mooij, M. (2018). Global marketing and advertising: Understanding cultural paradoxes. SAGE Publications Limited.

Iwai, K. (1984). Schumpeterian dynamics: An evolutionary model of innovation and imitation. Journal of Economic Behavior & Organization, 5(2), 159-190.

Johansson, J. K. (2009). Global marketing: foreign entry, local marketing, & global management. Boston: McGraw-Hill Irwin,.

McDougall, P. P., & Oviatt, B. M. (2000). International entrepreneurship: the intersection of two research paths. Academy of management Journal, 43(5), 902-906.

Virtanen, M. (1997, June). The role of different theories in explaining entrepreneurship. In Entrepreneurship: the engine of global economic development. Journal of Best Papers of the 42nd World Conference, International Council for Small Business.

Zhang, J., and Liu, R., 2017. The popularity of digital products in online social tagging systems. Journal of Brand Management, 24(1), pp.105-127.