Mobile Phone Technology and Global Marketing
Instructions:-
Topical Research Project: Topical Research for Current Market Issues
This project is designed to recognize and predict trends of global consumer markets. Select one interesting topic about current issues or events in the global community in the list below.
- The impact of US apparel brand on global retailers
- Fashion brand extension into sportswear in the global markets
- RFID and its impact on global consumer market
- Fair trade as a social responsibility for global business
- Sweatshops in garment factories in the world
- EU: Cross-border shopping
- Green consumption in the global community
- Impacts of mobile phone technology
- Issues of e-shopping in a global market
- Different consumption behavior: Gen Y vs. Baby Boomer
A 3-pages written paper should be submitted by (April 28, Friday midnight) through Topical Research Project Assignment link.
Written paper (50 points):
Submit a 3-pages written paper excluding cover and references. The paper format should be 1-inch margin on all sides, use double space, and Times New Roman or Arial 12 font size. The paper should cover the following contents:
- Introduction: Address research purpose and importance of the topic in the global market.
- Current Market Issues: Identify (1) three key issues on the selected topic and critically analyze from a global perspective; (2) Provide supporting data or related image for better understanding; and (3) Use subheading (if this is necessary to organize the contents).
- Conclusions: (1) Discuss how the issue affects the global market in the near future; and (2) describe what you’ve learned that you did not know previously.
- References: Use at least 5 references with APA style; Recent references published in 2000-present.
* Note: Include headings and subheadings to help organize your paper.
Solution
Mobile Phone Technology and Global Marketing
Introduction
According to Kotler & Keller (2016), a global market is an activity entailed in buying and selling of products and services worldwide. Global marketing has been a tool in utilizing globalization of goods and services across the global. With transitional changes in technology, mobile technology has taken greater heights in advancing global markets. Global marketing entails the dynamics of communication as well easy access to market trends. As such, these dynamics have been improved with the invention and improvement of mobile technology across the world. As such, there is a need for both consumers and consumers to appreciate the novel technology facilitated by mobile phone technology. As such, Varnali and Toker (2010) suggests that the topical advances in the mobile technology, the mobile channel has transformed into a definitive marketing vehicle which has enabled enterprises to establish an inescapable electronic presence in conjunction with the consumer market at any time and place.
Figure 1: Photographic expression of mobile phone technology and global marketing
Current Issues in Mobile Phone Technology regarding Global Marketing
Mobile technology has often been characterized by its salient feature of portability with is the imperative objective of expediting communication. Mobile phone technology is mainly represented in smartphones and tablets. Mobile communication is facilitated by the presence of wireless communication through; wireless fidelity (WI-FI) which is a type of wireless local area network technology and Bluetooth connection which connects mobile devices wirelessly. Also, there is a third and fourth generation (3G and 4G), global system for mobile communications (gsm) and general packet radio service (gprs), data services and data networking services for mobile phones to enable communication as well as access to the internet. Furthermore, there are Dial up services which refer to data networking services using modems and telephone lines, profoundly used for calling clients, producers, and retailers.
The salient current issues that have impacted global marketing in relation to mobile phone technology entails;
Direct marketing
According to Friedlein (2014), digital marketing refers to the use of mobile technology to advertise to consumers on a personalized level. Mainly involves email marketing and online adverts. Direct marketing is key as it shows the impact of mobile marketing on consumer markets which include; First, promoting of products and services that might not have a strong brand. Second, promoting consumer awareness around the globe that allows for consumer diversity. Last, it ensures effective communication as proper channels of communication are used hence information reaches the targeted consumer.
Figure 2: Components of Digital Marketing
Mobile payment
Mobile payment relates to a system where payments are made by the help mobile phones. This has come to show a great impact on marketing as it has made payment easier. It has allowed for mobile banking which allows for global banking hence one can make any payments regardless of their location. Moreover, mobile payment and banking apps have been innovated thus bringing about a great breakthrough in global marketing(Slade, Williams, & Dwivedi, 2013).
Cost of operations
Wu and Wang (2005) suggests that with the implementation of mobile technology, the cost of operations in marketing have significantly declined because mobile technology tends to increase productivity which in turns cancels out the cost incurred in the implementation of the technology. Moreover, a reduction in the cost of operations increases the availability of funds in the firm hence the funds may be used to promote global marketing further. This, in turn, has a positive impact global marketing.
How Mobile Phone Technology Affects the Global Market In The Near Future
Mobile phone technology has some effects on the global market. First, with its salient advantage of accessing the internet instantly, in the near future mobile technology will enable faster access to everything thus increasing convenience and linkages with retailers and consumers. Furthermore, with instant access future markets will be able to access important information about global markets that will help the strategize effectively for better productivity and sales. Second, personalized marketing will be enforced as mobile technology tends to gear global marketing towards needs of individuals on a more personal basis. As such, personal preferences will be automated to a point where one will find a retailer or producer regarding their personal preferences.
Also, Tiago and Veríssimo (2014) states that digital marketing needs further improvement as the consumer behavior has changed massively. As such, mobile technology tends to outlaw the other forms of technology and moves everything towards the digital age. Additionally, with the dynamics of globalization, mobile phone technology will enhance global reach since it is aimed at creating low flying satellites that will bring fast, affordable broadband thus increasing consumer outreach. Last, with diverse global awareness, mobile technology will enable cultural diversity as marketers will be understood and integrate different cultures so as to ensure proper marketing (Vien, 2015). Moreover, marketers will have to understand a variety of cultures, learn their customs, religions, social views, economies and much more.
Conclusively, it is
important to realize the impacts that mobile phone technology as it is a defining factor when it comes to
communication as well as access to
information at hand. Furthermore, its technological advancement regarding portability makes it a necessary
device for marketers to use a tool to target when stipulating advertising their
goods globally.
References
Friedlein, A. (2014). Digital Marketing and Ecommerce Trends and Predictions. eConsultancy.
Kotler, P., & Keller, K. L. (2016). Marketing Management. Global Edition (Vol. 15E). https://doi.org/10.1080/08911760903022556
Slade, E. L., Williams, M. D., & Dwivedi, Y. K. (2013). Mobile payment adoption: Classification and review of the extant literature. The Marketing Review (Vol. 13). https://doi.org/10.1362/146934713X13699019904687
Tiago, M. T. P. M. B., & Veríssimo, J. M. C. (2014). Digital marketing and social media: Why bother? Business Horizons, 57(6), 703–708. https://doi.org/10.1016/j.bushor.2014.07.002
Varnali, K., & Toker, A. (2010). Mobile marketing research: The-state-of-the-art. International Journal of Information Management. https://doi.org/10.1016/j.ijinfomgt.2009.08.009
Vien, C. L. (2015). The future of marketing: Thriving in a digital world. Journal of Accountancy, 219(6), 1–4. https://doi.org/http://dx.doi.org/10.1108/17506200710779521
Wu, J. H., & Wang, S. C. (2005). What drives mobile commerce? An empirical evaluation of the revised technology acceptance model. Information and Management, 42(5), 719–729. https://doi.org/10.1016/j.im.2004.07.001