Advantages of Global Media in Marketing

Discuss about the Developing & Launching Government Social Franchise.

International marketing is the concept of the multinational process of implementing and planning the pricing, promotion and goods and services to build exchanges that satisfy the objectives of the organization (Ngo, Alden, Hang and Dinh, 2009). The main aim of this assignment is to emphasise the theory of international marketing so that the role of it in the development of the country’s business can be understood. The discussion will be made on the impact of the global media in the country of Vietnam. Global media is an effective tool that has the ability to connect business as well as people from the different country in a quick way. The reflection will express the personal experience of global media in the market of Vietnam in which the description of the theory will be shown to show the effect of it over the country, society, people and business and relationship between countries.

The impact of global media has been selected as the international marketing theoretical concept. Global media is helpful for the people to get attracted towards purchasing the things because it has become the medium of marketing. It has been analyzed that among key factors of relationship marketing orientation trust and shared value had an effective impact on the customer satisfaction (Nguyen, Nguyen and Barrett, 2008). Global media formulated in the nineteenth century in which the use of newspapers and periodicals were written around significantly for the audiences of domestic, which encompassed with the issue of the language to limit their potential for export. At that time, the newspaper is the only global media system and the development and expansion of capitalism motivated the development of the communication and new method of transportation technologies to accelerate commercial interaction. After that in the 21^st century, global media encompasses the advertisement through different social media, TV, radio and newspaper, films and music video that has the ability to impact the customer behavior towards purchasing the products.

The impact of global media on the market of Vietnam is great as a number of people get efficient knowledge regarding the particular product which is available globally. The advantages of global media in marketing are defined below which will be helpful to get better understand g about the concept of the international marketing in a significant manner (Onkvisit and Shaw, 2008).

Profitability through market expansion: it is one of the major advantages of global media that helps the organization to increase the revenues. International marketing has considerably impact that facilitate open up a large customer base which is huge to attain the greater margins of profits. On the other hand, a small business can search marketing internationally is not effective in the terms of cost. In such conditions, the use of global media is helpful in making the procedure of the international marketing even more affordable. Today, customers are free to buy products from all over the world via the internet.

Impact on the Market of Vietnam

Marketing opportunities due to product life cycle: the global media has another advantage of making marketing opportunities because international marketing does not create the opportunities but also helps in developing the new relationships. On the other hand, it will take time to create long-term business relationships, these bonding never go miss. Global media through advertising can connect people with things globally that make the lifetime connections and thus the marketing team of any kind of business can relax their marketing efforts and appoint brand advocates that facilitate create the reputation and amplify awareness in the relation of the brand (O’Cass and Ngo, 2011).

Increase awareness: there are many examples of brand such as Jacuzzi, Fluffynutter, BMW and many more that can reach their target maret through global media. Advertisement can influence people to know about the information of new launched or existing products that enforce them to buy things as per their needs and affordability. Awareness of people has been increased with the help of the global media.

I have observed in my country that before the reformation of the economic was performed, most Vietnamese firms were unable to recognize the value of the brands and the branding. It was considered as the general practice amongst firms to pursue practices of unbranded or the use of the company’s name in the form of the brand to differentiate one product from others. On the other hand, when the government of the company started its economy, various multinational companies are entered Vietnam and commenced launching and promoting international brands. This outcome is in shifting the Vietnamese shopping habits of the customer from purchasing products to purchasing brands. Also, this activity motivated the firm of Vietnam to adopt the practices of the brand, which resulted in the developing of various local brands like Miss Saigon (perfume) and Yomilk (yogurt). Along with I have found that there are distinguishes between the students of the America and Vietnam about how they feel about negotiations before they negotiate to purchase items. I have observed that various kinds of metrics have been used to evaluate the market performance in terms of customer, branding, channel and new product. Metric is helpful in increasing the new product launches and the percent of products that are successful. The metric user has an upper level of satisfaction and huge customer loyalty, especially among new customers. Brand metrics are helpful in relating positively to brand recognition and channel satisfaction (Wilson, Zeithaml, Bitner and Gremler, 2012).

Effect on the Economy, Society, People, and Business

I have observed that the global media have affected Vietnam because of the involvement of the global media in the country enhances the opportunities of the business to get involved in the international market. It helps to develop the economic situation in a positive way. Extensive international exchanges based on the global economic development have also had an effective influence on the field of the cultural. In Vietnam, intellectual property rights are not imposed and it is general to search for patents, trademarks and brand names being stolen. In the absence of correct rules, there is a number of companies in the country that are reluctant in creating the initial move to generate their creative ideas and products because of the fear of being imitate through the competitors.

In the context of the society, I have found that the society of Vietnam has not deep class division as western society. In general, the impacts of the global media on Vietnamese society are great and will carry on amplifying in the coming years (Nguyen Hau and Viet Ngo, 2012). According to me, these are expected effects in the process of humankind history before real socialism. I have noticed that collectivism ad emotions appeals were less taken to individual and rational appeals respectively. In such condition, I have found the difference between age, gender and price segments. Along with that I have observed that the women subjects desired more emotional appeals whereas men favour a more rational approach.  Vietnam is a high power distance society, in such case use of coupons might not be an attractive way to motivate Vietnamese to purchase products since such an act may show embarrassment or losing face (Wollenberg and Thuong,  2014).

The selected theoretical concept of global media can affect the marketing strategy of the Vietnam. I have found that the product designs and packaging have to be small in size because a mass of the Vietnamese live in small area of houses and they do not have high income. People of this country prefer to buy things in small quantities on a daily basis from small retailers, peddlers and roadside stands (Bui et. al., 2012). According to me, it is happening because people of Vietnam are not aware about other places and they do not have knowledge that they can buy things in small quantity with high quality. I have observed that the prosperity of the economic is mainly considered in the urban areas. With respect to global media in Vietnam, it has been found that the interest rates are high in comparison of other countries and credit is not readily available. These factors are made expensive investments and put pressure on small as well as medium size businesses and make products expensive for common people. I noted that most Asian countries global brands are able to charge a premium price since they are apparent to reflect quality products. Since Vietnamese customers are value aware shoppers, desire to spend time and able to bargain for the best price a flexible pricing policy is generally in trend in the market of Vietnam. I observed that it is required for the business to focus on creating a good brand relationship with customers. People in Vietnam prefer cash in comparison of credit cards for billing the system. Global media will be helpful to focus on making good brand relationships with customers (Figenschou, 2013). I have found that the legal system of Vietnam is not effective that is why the global media will be helpful for the marketing the country to make people aware about product guarantees, warranties and after-sales services.

Relationship Between Countries

 The global media in Vietnam will be affected the businesses and the relationship between countries. It has been discussed that the legal system is weak of this country and people are not that much aware about the products and services at affordable services without going outside of their house. The bonding between businesses can be strong due to global media because advertisements will make them aware of the latest products and facilities in their country. I have analyzed that the global brands do face competition that comes from domestic manufacturers and substitutes. For instance, the companies related to pharmaceutical can face competition from home-made remedies and herbal products since the medical system lacks modern equipment and medicine as well not only in urban areas but also in the urban area. The global media such as advertisement, video and another tool of social media will affect the customer behavior towards purchasing the products and services. The relationship between countries would be strong due to globalization by which Vietnam can improve the living standards and the economic system efficiently after getting in touch with other effective countries (Mol, 2009).

If I talk about me and my future, I guess that the international marketing is thorough of connecting companies from different countries. The global media facilitates me to explore new things and knowledge regarding marketing so that one can bring change in their life and can live standard life at affordable prices (Arsenault and Castells,  2008).

Yes, I see many opportunities as a consumer in my country that the global media facilitates people of my country to connect with the latest technology and explore new things. The legal system of my country can be strong due to an effective global media system. The strong relationship between many businesses all around the world can be made due to globalization that would be helpful to make the firm condition of the economy of my country. Vietnam is rising as an effective market with its growing economy, accessibility of plentiful supply of labor force and growing middle class (Herman and Chomsky, 2010). Even though, I have found that there is a high integration of the government in the development policies that have permitted and motivated foreign companies as well as investors to invest in the country so that they can modernize the country and generate more competition driven export industries (Horten, 2011).

Conclusion

It can be concluded that the international marketing is helpful for the expansion of the opportunities from country to country. The customer has the ability with the help of the international marketing to buy products from virtually anywhere in the world by using the internet, making market expansion by international marketing is a very helpful skill for businesses to master. Yes, International marketing is good for the communities because the strategies of the international marketing help communities to go beyond their list of the target market. it would increase the opportunity for the local business to get internationalized without going outside and investing in products and services. It has been analyzed that the technology has become more advanced and many businesses are incentivized to sell their products as well as services to abroad. It is apparent that operating a business on the global level will be helpful for the company to increase the market share and decrease the costs.

References

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Bui,.C., Markham, C.M., Ross, M.W., Williams, M.L., Beasley, R.P., Tran, L.T., Nguyen, H.T. and Le, T.N., 2012. Perceived gender inequality, sexual communication self-efficacy, and sexual behaviour among female undergraduate students in the Mekong Delta of Vietnam. Sexual health, 9(4), pp.314-322.

Figenschou, T.U., 2013. Al Jazeera and the global media landscape: The South is talking back. Routledge.

Herman, E.S. and Chomsky, N., 2010. Manufacturing consent: The political economy of the mass media. Random House.

Horten, G., 2011. The mediatization of war: A comparison of the American and German media coverage of the Vietnam and Iraq Wars. American Journalism, 28(4), pp.29-53.

Mol, A.P., 2009. Environmental governance through information: China and Vietnam. Singapore Journal of Tropical Geography, 30(1), pp.114-129.

Ngo, A.D., Alden, D.L., Hang, N. and Dinh, N., 2009. Developing and launching the government social franchise model of reproductive health care service delivery in Vietnam. Social Marketing Quarterly, 15(1), pp.71-89.

Nguyen Hau, L. and Viet Ngo, L., 2012. Relationship marketing in Vietnam: An empirical study. Asia Pacific Journal of Marketing and Logistics, 24(2), pp.222-235.

Nguyen, T.D., Nguyen, T.T. and Barrett, N.J., 2008. Consumer ethnocentrism, cultural sensitivity, and intention to purchase local products—evidence from Vietnam. Journal of Consumer Behaviour: An International Research Review, 7(1), pp.88-100.

O’Cass, A. and Ngo, L.V., 2011. Winning through innovation and marketing: Lessons from Australia and Vietnam. Industrial marketing management, 40(8), pp.1319-1329.

Onkvisit, S. and Shaw, J., 2008. International marketing: strategy and theory. Routledge.

Wilson, A., Zeithaml, V.A., Bitner, M.J. and Gremler, D.D., 2012. Services marketing: Integrating customer focus across the firm (No. 2nd Eu). McGraw Hill.

Wollenberg, A. and Thuong, T.T., 2014. Consumer behaviour in the Smartphone market in Vietnam. International Journal of Innovation, Management and Technology, 5(6), p.412.