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This book examines emerging theories, frameworks, and applications of global marketing for the 21st century. It highlights how global marketing is changing in a globalized and digital economy that is fast increasing in complexity and uncertainty. The traditional approach to global marketing is no longer sufficient to address the emerging issues in global markets. Global companies need to challenge traditional assumptions in global marketing in an era of shifting political, cultural, economic, and technological changes. They need to take a fresh look at the contemporary threats and opportunities in markets, institutions, and technology and how they affect entry and expansion strategies through careful re-calibration of the marketing-mix. This book offers new insights for global marketing that addresses these issues. This book should be an ideal resource to both academic scholars and reflective practitioners globally such as CEOs and chief marketing officers as well as government officials and policy makers interested in formulating strategies/policies for global marketing activities in the face of a globalized and digitized economy. This well-crafted research volume is an excellent addition to the growing literature on new trends in international marketing. The authors present the latest insight on the impact of phenomena such as cross-border e-commerce and digital markets, and they discuss new tools for political risk assessment, international branding and more broadly the reconfiguring of marketing-mix strategies – A powerful reminder that the new global market remains a rugged landscape. - Alain Verbeke, McCaig Research Chair in Management and Editor-in-Chief Journal of International Business Studies, University of Calgary, Canada. Emerging trends in institutions, markets, and societies, along with new technological advances, are redefining the scope and strategy in global marketing. Professors Agarwal and Wu have assembled a remarkable collection of cutting-edge topics and issues that capture the shifting paradigm and contemporary developments in the global marketing field. This is an informative and timely resource that makes a valuable contribution, useful for both scholars and business practitioners of global marketing. - Constantine S. Katsikeas, Arnold Ziff Endowed Research Chair in Marketing & International Management, Editor-in-Chief Journal of International Marketing, University of Leeds, UK. This book presents new and cutting-edge thinking at a time when the traditional views of international marketing need to be scrapped. Convergence forces are creating new opportunities as well as threats on a daily basis, and marketing practitioners as well as scholars must be forewarned as well as forearmed on how to deal with these changes. The real growth is coming from the emerging nations, and the theories that provided sufficient insights ten years ago have been completely outmoded by the ever-accelerating rate of innovation and technological change as well as the pressures to address the needs of all of the firm’s relevant stakeholders. The strategic insights provided here are absolutely invaluable. Don’t miss an opportunity to read this book!! - John B. Ford, Professor of Marketing & International Business, Eminent Scholar & Haislip-Rohrer Fellow, Editor-in-Chief, Journal of Advertising Research, Old Dominion University, USA.
As the markets in transitional economies open and grow, major challenges and opportunities arise for multinational firms entering these markets, local firms facing these new competitors, and policymakers seeking to increase the ability of all firms to compete fairly and efficiently. Yet despite the important questions transition economies pose for policymakers and companies seeking to enter and compete in these new markets, there has been a relative absence of systematic research on these concerns. This book seeks to fill a gap in the existing literature by offering a pioneering and comprehensive examination of issues that have developed as markets in transitional economies become more deregulated and open. The countries discussed include China, the Czech Republic, Hungary, India, Poland, Romania, Russia, South Africa and South Korea. The topics covered are divided into five main sections, and the individual chapters are written by some of the world's leading academic experts on these issues. Most of the authors draw from freshly-collected data in new studies of consumers and/or firms in transitional economies. After an opening section which discusses the marketing issues and challenges multinational and local firms face in transitional economies, the next three sections offer detailed treatments of changing consumer behavior, measuring and improving the marketing orientation of firms, and implementing and managing distribution channels. The fifth and final section is devoted to firm strategies and tactics, examined variously from the perspective of multinational firms entering these new markets, from the viewpoint of existing local firms facing new competitive challenges from global entrants, and from the perspective of local firms seeking to establish themselves in foreign markets where they have not previously competed. Most of the individual chapters are revised versions of papers originally presented at a conference sponsored by the William Davidson Institute, which focuses on research related to emerging and transitional economies, and have not previously appeared in published form. Thus, the book is a unique collection of cutting-edge scholarship on the various aspects of marketing in transitional economies. It will prove valuable reading to academics, policymakers, and international business strategists.