Marketing Challenges in the Global Economy
American Intercontinental University
MKT640 – A Managerial Approach to Marketing
Marketing Challenges in the Global Economy
November 11, 2012
Abstract
This article discusses some challenges faced with product development in the global economy. Brief case studies of Apple, eBay, and Levi Strauss & Co., provide real-world examples of the challenges – competition, reach of influences, infringement, etc. Embracing technological advances, such as social media, is essential for leveraging a competitive edge, provide the company can operate ethically.
Marketing Challenges in the Global Economy
Introduction
The world is getting smaller, figuratively speaking, and companies must continually reinvent themselves to remain competitive in the global economy. A constant introduction of seemingly ever-changing variables create challenges for big businesses and start-ups alike, and while technology creates its own set of challenges, leveraging its benefits in marketing can propel a company to the leader's board. But while technology has created new marketing opportunities – especially in engaging with consumers – companies need to be ever cautious about maintaining an ethical marketing strategy.
Challenges in New Product Launches
Companies face various challenges when developing products in the global economy. Some of these challenges are more distinct to specific industries, while others are universal. Twenty years ago, the biggest challenges with product development in the global economy were communication with manufacturers, especially when dealing with manufacturers halfway around the world, and the speed of production. Rapidly evolving technology has on one hand eased these, but also created new sets of challenges. The same technology that brought the world 24-hour news service also meant greater access for scrutiny, as well as a greater consumer expectation for full disclosure of business practices. Increasingly, people want to know that companies are running ethical
MKT640 – A Managerial Approach to Marketing
Marketing Challenges in the Global Economy
November 11, 2012
Abstract
This article discusses some challenges faced with product development in the global economy. Brief case studies of Apple, eBay, and Levi Strauss & Co., provide real-world examples of the challenges – competition, reach of influences, infringement, etc. Embracing technological advances, such as social media, is essential for leveraging a competitive edge, provide the company can operate ethically.
Marketing Challenges in the Global Economy
Introduction
The world is getting smaller, figuratively speaking, and companies must continually reinvent themselves to remain competitive in the global economy. A constant introduction of seemingly ever-changing variables create challenges for big businesses and start-ups alike, and while technology creates its own set of challenges, leveraging its benefits in marketing can propel a company to the leader's board. But while technology has created new marketing opportunities – especially in engaging with consumers – companies need to be ever cautious about maintaining an ethical marketing strategy.
Challenges in New Product Launches
Companies face various challenges when developing products in the global economy. Some of these challenges are more distinct to specific industries, while others are universal. Twenty years ago, the biggest challenges with product development in the global economy were communication with manufacturers, especially when dealing with manufacturers halfway around the world, and the speed of production. Rapidly evolving technology has on one hand eased these, but also created new sets of challenges. The same technology that brought the world 24-hour news service also meant greater access for scrutiny, as well as a greater consumer expectation for full disclosure of business practices. Increasingly, people want to know that companies are running ethical
References: Duhigg, C., & Lohr, S. (2012, October 07). The patent, used as a sword. Retrieved from http://www.nytimes.com/2012/10/08/technology/patent-wars-among-tech-giants-can-stifle- competition.html?pagewanted=all&_r=0 Frey, U Garside, J. (2012, March 29). Apple 's factories in china are breaking employment laws, audit finds. Retrieved from http://www.guardian.co.uk/technology/2012/mar/30/apple-factories-china- foxconn-audit Grail Research Iezzi, T. (2012). The 5 all-time best facebook campaigns. Retrieved from http://www.fastcocreate.com/1680811/the-5-all-time-best-facebook-campaigns Ignatius, A Mukherjee, W. (2012, April 11). Samsung: Nokia lumia campaign unethical. Retrieved from http://timesofindia.indiatimes.com/tech/enterprise-it/strategy/Samsung-Nokia-Lumia- campaign-unethical/articleshow/12620894.cms Musil, S Reuters. (2012, November 08). Galaxy s3 sales make it world 's number one smartphone in q3 2012. Retrieved from http://www.huffingtonpost.com/2012/11/08/galaxy-s3-sales-worlds-number- one-smartphone_n_2091689.html Shenon, P