Dynamics in assessing global markets

The concept of the modern world is totally different from conventional definition. Today the distance of boundaries is losing its significance, now the modern philosophy treats the whole world as a global village. The modern corporate world accepted the concept of global village open heartedly and the services and products that were earlier restricted to a particular geographical area have easily transgressed the geographical boundary and have successfully entered into neighbor markets.

The concept of globalization is in the developing stage; to understand it more clearly we can define it as a concept that is commonly used for describing the spread and connectedness of production, communication and technologies all over the world. That spread has involved the interlacing of economic and cultural activity. Globalization involves the diffusion of ideas, practices and technologies. It is something more than internationalization and universalization.


Though the concept and idea of global marketing seems very promising and potential but the success rate is very dubious. To make your expansion successful in other parts of the world a service provider has to introduce several changes matching the external and internal factors of that region.

Almost all the companies who plan to expand their geographical base carry cultural analysis of the potential market. The international marketer must concern himself with the impact of his actions upon the new culture.

The concept global marketing strategy has become more prominent in today’s economic world. The continuous rise and fall in the market trend makes manufacturers and service providers skeptical about their future as a result they are always looking for new potential market. In today’s fluctuating economic environment a reliable and profitable business has always been highly sought after. With the trend of internet marketing it is easy to make your business truly global in nature and it is easy to sail your boat even if the condition is not favorable for the business.

It is a general tendency of the people to discard the foreign element and if the new change is against their cultural acceptance then the success of a new element is highly doubtful. To decrease the chance of failure many MNC’s are now investing a good amount of time and money in studying the culture of a potential market and they implement the desired changes in their products and other services just make it acceptable and successful.

Cultures change gradually with resistance to change. If a product or service is compatible with the trend and norms of society the resistance for the change start fading out and soon the product becomes the accepted part of the society, whereas products that are highly contrary to set norms of society face long resistance and often find difficulty in acceptance by the society.

The analysis and evaluation of culture for potential market is a detailed procedure. For a good cultural analysis it is suggested to evaluate each of the factors involved in forming culture of the society. Culture is dynamic in nature and it keeps changing from time to time as a result or the strong hold over the market it is necessary for the company’s to keep a close eye on the cultural changes of the society and introduce changes in the products or services suiting the culture. The change in the culture could be a change in material culture, social institution, Man and the universe or aesthetic.

One of the best ways counter the resistance to cultural changes is to create and gain public interest. Products that are far from set status quo faces more challenges than those products that fall close to set norms get easy acceptance. The concept of cultural changes is true in the context of the domestic market as well. Before launching a product that is different from acceptable norms it is essential to create acceptable background first and then launch the product. Examples of this resistance in the domestic market are the introduction of contact lenses and using motorcycles as an acceptable means of recreation.

With the increasing trend of globalization it has become crucial for the manufacturers to study the market before entering into it. It will increase the chance of success and will control the negative resistance.