NOLEGEIN Journal of Global Marketing
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NOLEGEIN Journal of Global Marketing Nolegein -Journal of Global Marketing is focused towards the rapid publication in the following areas of
Focus and Scope of the Journal ! Global strategic marketing planning ! Cross national/cultural consumer decision making and behavior ! Global competitive strategy ! Transfer of marketing technology ! Global marketing information systems ! Global buyer-seller interactions ! Global strategic alliances ! Advantages and disadvantages of Global Marketing.
Sections covered by this journal are review papers, research papers, interviews, news, companies/ institutions write-ups, short popular articles and case studies. All contributions to the journal are rigorously refereed and are selected on the basis of quality and originality of the work. The journal publishes the most significant new research papers or any other original contribution in the form of reviews and reports on new concepts in all areas pertaining to its scope and research being done in the world, thus ensuring its scientific priority and significance. No part of this publication may be reproduced, stored in retrieval or transmitted in any form without written permission to the publisher. To cite any of the material contained in this journal, in English or translation, please use the full English reference at the beginning of each article. To reuse any of the material, please contact MBA Journal. The author(s) is/are solely responsible for the content of the article(s) published in the MBA Journals platform (an imprint of Consortium e-Learning Network Private Ltd.). The published articles are not constituted or deemed to constitute any representation of view of the editors or publisher. The data presented therein are correct or sufficient to support the conclusions reached or that the experiment design or methodology is adequate and the information, opinions, views presented in the article reflect the views of the authors and contributors of the article and not the opinion of publisher or the editorial board. Under no circumstances publisher should be held responsible for the acts of misrepresentation, plagiarism, wrongful presentation of facts, omissions, neglect or willful representation of information against the ethical norms of journal. (info@mbajournals.in)
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NOLEGEIN Journal of Management Information Systems NOLEGEIN Journal of Business Ethics , Ethos & CSR NOLEGEIN Journal of Entrepreneurship Planning, Development and Management NOLEGEIN Journal of Operations Research & Management NOLEGEIN Journal of Supply Chain and Logistics Management
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NOLEGEIN Journal of Global Marketing NOLEGEIN Journal of Advertising and Brand Management NOLEGEIN Journal of Consumer Behavior & Market Research
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NOLEGEIN Journal of Financial Planning and Management
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NOLEGEIN Journal of Business Risk Management NOLEGEIN Journal of Corporate & Business Laws NOLEGEIN Journal of Organizational Behavior Management NOLEGEIN Journal of Leadership and Strategic Management
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NOLEGEIN Journal of Performance Management & Retention Strategies NOLEGEIN Journal of Human Resource Management & Development
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EDITORIAL BOARD MEMBERS Dr. Ruchi Sharma Associate Professor Department of Management, Sandip University, Nasik, Maharashtra, India
Surabhi Singh Associate Professor Department of Marketing in Management, Institute of Management Studies, Ghaziabad, Uttar Pradesh, India
Tanveer Jahan Professor Department of Management, Naraina College Of Engineering & Technology, Kanpur, Uttar Pradesh, India
Shiv Sankar das Lecturer-Research Officer Department of MBA, Centurion University of Technology and Management, Rajaseetapuram, Odisha, India
Dr.Ansuman Jena Assistant Professor Department of Management, Centurion Institute of Technology, Bhubaneswar, Odisha, India
Manoj Gupta C.A.O Department of Management, Management Development Institute, Gurugram, Haryana, India
Dr. Mrinmoy Bhattacharjee Associate Professor Department of Management, Alliance School of Business, Bangalore, Karnataka, India
Dr. Nischay K. Upamannyu Assistant Professor Department of Marketing in Management, Prestige Institute of Management, Gwalior, Uttar Pradesh, India
Prof. Parmita M. Mehta Asst.Professor Department of Marketing in Management, Shri K.H.Madhvani Arts and Commerce College, Porbandar, Gujarat , India
Hardeep Singh Assistant Professor and Head Department of Training & Placement, Ferozepur College of Engineering & Technology, Ferozepur, Punjab, India
Dr. Ritu Sharma Assistant Professor Department of Marketing, GD Goenka University, Gurgaon, Haryana, India
From the Editor's Desk Dear Readers, We would like to present, with great pleasure, the inaugural First volume of a new scholarly journal, NOLEGEIN Journal of Global Marketing. This journal is part of the Global Marketing, and is devoted to the scope of present management issues, from different. This new journal was planned and established to represent the growing needs of marketing as an emerging and increasingly vital field, now widely recognized as an integral part of Management. Its mission is to become a voice of the Management community, addressing researchers and practitioners in this area. The core vision of NOLEGEIN Journal of Global Marketing in MBA Journals is to propagate novel awareness and know-how for the profit of mankind ranging from the academic and professional research societies to industry practitioners in a range of topics in advertising in general. MBA Journals acts as a pathfinder for the scientific community to published their papers at excellently, well-time & successfully. NOLEGEIN Journal of Global Marketing focuses on original high-quality research in the Global strategic marketing planning, Global competitive strategy, Global buyer-seller interactions, Global strategic alliances, Advantages and disadvantages of Global Marketing etc. The Journal is intended as a forum for practitioners and researchers to share the views of Global Marketing in the area. Many researchers have contributed to the creation and the success of the Global Marketing. We are very thankful to everybody within that community who supported the idea of creating an innovative platform. We are certain that this issue will be followed by many others, reporting new developments in the field of Global Marketing. This issue would not have been possible without the great support of the Editorial Board members, and we would like to express our sincere thanks to all of them. We would also like to express our gratitude to the editorial staff of MBA Journals, who supported us at every stage of the project. It is our hope that this fine collection of articles will be a valuable resource for Management readers and will stimulate further research into the vibrant area of Global Marketing.
Puneet Mehrotra Managing Director
Contents An Enigma to Work in Virtual Team in Context of Global Brand Sensitivity and Standing
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Aditi Thakkar Indian Pharmaceutical Industry in 2018— Strength, Weakness, Opportunity, Threat (SWOT) Analysis
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Lata Khani Bisht, Blessy Jacob, Vineeth Chandy Impact of Global Economic Crisis on India and the ASEAN Countries
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Pritam Ranjan Sahu Competitiveness and Innovative Strategies—A Prospective Study
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Geetanjali Wani, H.S. Vyas Triumph Of Relationship Marketing Practices In Retention Of Customers In Supermarket Chain Stores Kumardatt Ashok Ganjre
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NOLEGEIN Journal of Global Marketing Vol. 1: Issue 2
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An Enigma to Work in Virtual Team in Context of Global Brand Sensitivity and Standing Aditi Thakkar* Assistant Professor, D.Y. Patil Institute of Management, Pimpri-Chinchwad, Maharashtra, India
ABSTRACT Hundreds of brands just about the world could be described as “global,” and hundreds more aspire to the same status. To create a global brand position, the first step is to identify commonality among your potential audiences. The global brand position, once identified, can then be communicated efficiently to different targets by utilizing customized key messages. There are many multinational companies, which are actively engaged in global brand management activities. The success of brand positioning and perception is based on the activities performed by teamwork, enthusiasm, ethics, and use of technology. Rather than all these factors, there is also a need to work in team with a proper management learning and justify them with a virtual formulation, which will produce strong brand among the world. But unfortunately for those aspiring global players, there is no one dictatorial method for accomplishment on the world stage. Culture, economic circumstances, and government regulation all vary by country and all exert influence on the evolution of a brand, especially when a brand is managed locally rather than globally (that is, out of a centralized or corporate office). As a result, a global brand may obvious itself differently in different parts of the world. The packaging, the product formulation, the advertising, and sometimes (though rarely these days) even the name might vary. One branding factor has taken on increased significance as the world simultaneously grows larger for brands (as new markets open) and smaller for consumers (as new technology allows news and entertainment to cross borders in real time). That factor is the brand's positioning. The motive of this research article is to analyze the variety of brands and its status in the global market. Keywords: Branding factors, consumers, culture, economic circumstances, positioning, technology global brands
INTRODUCTION For international companies, the branding strategies had a major impact over the trend on the way to augmented globalization. In few years, the need for local market was developed by international firms, underneath a multidomestic marketing slant. Now the situation is to favor the development of global brands with a unique or same standing in all marketplaces, below a global publicizing style [4]. The main aim of this research article is to interrogation these universal brands really assistance
from an exclusive appearance in all markets. The international companies branding strategies are based on international marketing standers [5]. Some of the brands have good positioning strategies and platform in their country of origin before its vertical integration on the rest of the world. Examples Is the Mercedes brand image the same in Germany than in other countries? And what about Parle-G perception in India versus other countries?
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NOLEGEIN Journal of Global Marketing Vol. 1: Issue 2
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Indian Pharmaceutical Industry in 2018— Strength, Weakness, Opportunity, Threat (SWOT) Analysis Lata Khani Bisht*, Blessy Jacob, Vineeth Chandy T John College of Pharmacy, Chem. Dept, Bangalore, Karnataka, India
ABSTRACT The top pharmaceutical companies in India, currently, are Glenmark, GlaxoSmithKline, Cadila Healthcare, Aurobindo Pharma, Cipla, Lupin, Dr Reddy’s, Sun Pharma, etc. The strength, weakness, opportunities, and threats associated with them and altogether to this industry are of great interest to pharma and commerce industry equally. The world population explosion and increase in lifespan have increased the importance of this industry over time. The spending on medicine and healthcare by governments has pushed it further to new heights. But still, a lot needs to be done to make medicine available to the lowest downtrodden person. Immunization program needs to be carried out for every household in India. As the competition in the pharma field has increased considerably, “Talent to Value” approach needs to be followed. Keywords: Opportunity, strength, threat, weakness
INTRODUCTION The contribution of Indian Pharmaceutical Industry to the global healthcare is immense with the production of highquality low-cost medicine. It also fulfills half of the global demand for vaccines. The affordability of anti-retroviral drugs makes it 60% contributor of global needs and 30% of requirements of UNICEF. Despite this, the profits clocked by Indian Pharmaceutical Industry are low and growth is slow. This has led to hindrance in expansion plan and research and development (R&D) activity of some of the
best industries. Even then, the industry has grown at 6%–7% on an average annually [1–3]. India is poised to be the third largest pharmaceutical industry globally by the end of 2020 (Figure 1). The turnover of the industry has increased from US$ 0.3 billion in 1980 to US$ 33 billion in 2017. It is expected to expand its CAGR (Compound Annual Growth Rate) to reach US$ 55 billion at the rate of 22.4% (Figure 2). It is driven by highly skilled lowcost manpower and innovations in the industry.
Fig. 1: Growth Rate of Indian Pharmaceutical Industry.
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NOLEGEIN Journal of Global Marketing Vol. 1: Issue 2
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Impact of Global Economic Crisis on India and the ASEAN Countries Pritam Ranjan Sahu* PG Student (Economics), Department of Economics, Central University of Orissa, Koraput, India
ABSTRACT The Global Economic Crisis 2008 was started from United States from 2006–2007 and known as the worst financial crisis which affected all over the World. This causes the upgrowing US housing sector to collapse and by which almost the developed and developing economies were affected. This study draws evidence by focusing on the impact of economic crisis in India and the ASEAN countries over the period of 2006–2010. Most of these countries were affected due to the problem of unemployment, low export earnings. Due to this the GDP of these countries were also badly affected. This study also deals with the impact of foreign trade in India and the ASEAN countries during the time of economic crisis. Moreover, the financial crisis slowed down the growth process of ASEAN countries and Indian economy as well during the time of 2008–2009. Keywords: Asean, GDP, FDI, Financial Crisis, Housing Sector
INTRODUCTION The economic crisis 2008 was one of a serious blow to the world economy. Before that the global economy faced many economic crises those are, the global economic crisis 1873, the Great depression 1930, the East Asian crisis 1990, ASEAN crisis 1997(currency crisis). But the global economic crisis 2008 was so high than another economic crisis. It was started initially in 2006–2007 in U.S. and after that it spread to all over the world. It was happened due to the sub-prime mortgage crisis in U.S. financial market. In that time in the U.S. economy the great demand of housing sector (Wail, 2012). The bank had faced great loss in the U.S. After that it affects firstly many developed countries like U.K., Japan etc. Indian banking sector was not affected very much than other developed nation. But Indian trade sector was affected [1]. India’s inflation just increased in that time. Similarly, FDI sector of India was suddenly go up. In the ASEAN countries, it affected very much in
the price level, unemployment, growth rate etc. In some ASEAN countries, i.e., Indonesia, Myanmar, Lao, etc., there had very little impact of the global economic crisis. Hence, an attempt has been made in the present study to analyze the impact on global economic crisis 2008 in India and ASEAN countries [4]. ANALYSIS AND FINDING The present study is based on descriptive statistics. All data are collected from secondary source, i.e., Reserve Bank of India (RBI) and World Development Indicators of World Bank. This study basically discus about the impact on Indian trade sector, financial sector, unemployment, growth and the impact on ASEAN trade sector, unemployment, financial sector and growth [5]. IMPACT OF GLOBAL ECONOMIC CRISIS ON INDIAN ECONOMY Indian government initially disagrees that the impact of global economic crisis does
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NOLEGEIN Journal of Global Marketing Vol. 1: Issue 2
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Competitiveness and Innovative Strategies—A Prospective Study Geetanjali Wani*, H.S. Vyas Librarian, Registrar, RSET Deviprasad Goenka Management College of Media Studies, RSET Campus, Malad (West), Mumbai, India
ABSTRACT Management is required on each level of organization to succeed with business activities. Good management is the boon for companies, which can lead the organization to prosperity. In the present era of globalization, the companies must face varied dynamic challenges; to tackle all these challenges, the management of company should be innovative and competitive. Now company’s management, by using their strategies and tactics, splits the major task into small groups of activities and divides them among the concerned groups. As in retail sector, some companies use their innovative management ability to compete the competitors either in terms of advertising or selling and try to cover the maximum market share. In telecommunication sector, mobile SIM companies, management is using their innovative strategies to attract the customer on economical price, even provides the extra talk time and free seconds with new as well as old SIM; still they earn higher profit. Thus, the innovativeness and competitiveness in management is required to transform the business from unfavorable situation to favorable situation and earn maximum profit with customer satisfaction. Keywords: competitors, customer satisfaction, dynamic challenges, levels of organization, market share
INTRODUCTION Management is one of the important concepts which is required on each level of organization to succeed with business activities. Innovativeness in management brings the changes in organization; these changes may lead the organization toward prosperity. In the present scenario, most of company’s management uses democratic style through which employees even customers get a chance to say their views in management. A good management is one which utilizes the available resources efficiently and produces maximum quality product with customer satisfaction. Customer satisfaction is one of the primary motives of any organization; for this, the good management goes for market research and generates the views and requirement of prospect customer in new product, and then management uses their
innovative tactics to satisfy the need of customers. “MANAGEMENT IS AN ACTIVITY OF WORKING WITH OTHERS EFFICIENTLY” Without adopting competitive strategies, it is not possible for R&D to be efficient; innovation management includes a set of tools that allow managers and engineers to cooperate with a common understanding of goals and processes [1–3]. It leads toward the continuous development of a company. The idea of business sustainability attracts more attention. Therefore, innovation management has never been as central as today since multinational firms, government agencies, World Bank, and IMF are seeking solutions in recession. Innovative management plays a more
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NOLEGEIN Journal of Global Marketing Vol. 1: Issue 2
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Triumph of Relationship Marketing Practices in Retention of Customers in Supermarket Chain Stores Kumardatt Ashok Ganjre Director, RSET’s Deviprasad Goenka Management College of Media Studies, RSET Campus, Malad (West), Mumbai, India
ABSTRACT Owing to the uncompromising competition in today’s business, many companies are required to build long-term profitable relationship with customers and to achieve customer loyalty. Therefore, relationship marketing has become more and more important since last decade of 20th century, especially in service industry. There are many different relationship marketing tactics implemented for retaining customer. Hence It has become significant for organizations to find ways, to retain the existing customers as it is more cost effective to retain customers than to acquire them. In order to protect their long-term concern, organizations are seeking ways to forge and to maintain an on-going relationship with their customers. It is proposed that offering loyal service gives an organization the advantage, not only to be able to fulfill customers' present needs, but also the ability to anticipate their future needs. This paper is an attempt to understand the service facilities which influence the customers to retain loyal to the supermarkets they shop in. Keywords: relationship marketing, retention, supermarkets
INTRODUCTION The success of a firm is that the firm's service employees develop the emotional connection with customers which leads to exceptional service and the ability to exceed customer expectations. “Don’t try to tell the customer what he wants. If you want to be smart, be smart in the shower. Then get out, go to work and serve the customer!”- says the famous entrepreneur Gene Buckley, Sikorsky Aircraft, and that is appropriate in today’s scenario where we need to recognize what our customer wants and see to that we satisfy them with the same. Customer retention is a costeffective and profitable business strategy that is imperative in today’s competitive economic environment. Customer retention is the activity a company undertakes to prevent customers from defecting to alternative companies. Successful customer retention starts with
the first contact and continues throughout the entire lifetime of the relationship therefore customer loyalty is the final goal of relationship marketing [1]. PAST REVIEWS Relationship marketing refers to the use of relationships rather than purely transactional means, in order to not only acquire customers, but also to generate customer loyalty that results in repeat custom for the firm. It is a very important area for modern businesses, and an ideal area on which to base your marketing dissertation. Gonroos proposed a more formal definition in 1989 which included the goal of yielding a profit "through a mutual exchange and fulfillment of promises" (Gronroos 1989). Gronroos (1990) [3] states: “Marketing is to establish, maintain, and enhance relationships with customers and other partners, at a profit so
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