Globalization and Rapid New Market Essay

Submitted By shijinsong065
Words: 1612
Pages: 7

Globalization and Rapid New Market Growth Consumers face countless choices,forcing brands to differentiate themselves by offering unique products appealing to a large consumer base.Likewise,competitors are becoming bigger and more international,meaning brands must learn to balance operations management and economic results with creativity and innovation.Each brand must strategize appropriately to remain true to its roots,while also attracting as many consumers as possible.Finally,new distribution channels are developing,such as the emergence of e-commerce.The Internet has developed a new market for a new consumer:the online shopper.This platform permits cross segmentation of markets worldwide but also has promoted innovative communication tools for marketing,such as social networking,and for supply chain management,such as IT software.
Globalization has allowed companies to expand into different markets of consumers and suppliers.While expanding and appealing to a broader group of consumers the companies are forced to adapt to different cultures while maintaining a congruent brand image and differentiating their products from those of the competition.The fashion industry showcases how business decisions are made when pressures to align with fast moving trends and those to improve business efficiency converge.Different segments of fashion have different strategies on how to gain more customers,stay competitive and differentiate.From an international business perspective,the globalization of fashion allows for suppliers,producers and consumers to gain more exposure than ever before.The relevancy of fashion as a facet of international business is omnipresent from the streets of Singapore to the back lanes of London.This paper provides insight into how changes in the fashion industry affect the everyday consumer.
In the author’s segmenting of the fashion industry by price,an analysis of branding trends became delineated by a logical market segmenter,which often is the first step in trying to understand where,why and how a company is focusing its branding efforts.Going deeper,this paper seeks to hone in on select companies’growth strategies,marketing mixes,and diffusion or dilution brand relationships to gain a better understanding of where the industry and brands stand today.This paper will additionally examine the steps brands are taking to modernize and adapt to a consumer who expects more value for his dollar and more multi-level interaction with the brand,both pre,and post purchase.
A unified marketing program should provide a continual and consistent experience from product awareness to checkout and on into customer management.Part of delivering a consistent experience to consumers requires the combination of technical and marketing skills in each step.Some of the areas in which we have seen significant improvement due to increased collaboration across silos include:
Technical integration of display ads and web sites–this integration couples the value proposition of the ad with the value delivery of the site.
Technical integration of the web site with the targeting partner–this integration couples data collected during customer interactions with campaigns in real time for improved targeting and campaign performance.
Technical integration between retargeting campaigns and audience targeting campaigns–this combination carries the on-site marketing discipline,user experience,and brand reputation beyond the site and into off-site advertising.
Technical integration between audience targeting and product recommendation–this type of integration improves the results of both programs.
As the world of marketing,consumer engagement and big data evolves,we are seeing major changes in corporate organizations.Internal partnerships between CMOs and CIOs are becoming increasingly necessary for companies to remain competitive within their industry.The CMOs responsibilities are moving beyond high level branding and advertising to…