Global Management Strategy - Innovation and People

Question: Discuss about the Global Management for Strategy, Innovation and People. Answer: Introduction Marketing has undergone a tremendous change in recent years with the increase in globalization and digitalization and in age of disruptive technologies. Today, number of products has increased due to competitors crossing geographies and also product life cycle is getting shorter. As a result of all this, it becomes mandatory for marketers to study the market requirements and frequently come up with the new product developments. In recent times, there has been a paradigm shift from push form to pull form of marketing. With the increase government regulation, customer awareness and focus on corporate social responsibility, organizations have changed their strategy to societal marketing. Earlier, companys focuses on selling the products to customers based on their targets. They were not much sensitive to if the products are aligned to customer requirements. As a result, there were many cases of misspelling also specially in Finance sector where products are being sell without considerin g the risk appetite. But with this new concept of societal marketing, company focuses on assessing the customer requirements and produce better products that aim towards customer interest and welfare of the society. This marketing also aims to educate the customers and spread awareness (King, Mcvey, Simmons, 2000). Also, these days companies also have a lot of data to analyze and to understand customer requirements in a true sense. All the organizations engage customers on facebook, twitter and many other sites. The purpose of this is marketing, publicity and to gain insights about customer preferences and requirements at the same time. There is huge amount of data that is gathered from these social media tools and then there are software technology of analytics which when applied on a he amount of data helps to find the trends. Such trends help the organizations to make their products better, do a more targeting selling and to check the feedback and acceptance of their products among customers. Societal marketing will definitely be accepted by everyone in the society as the focus is more on society welfare in this approach. Societal marketing would also help to narrow down the gap between consumers expectations from the organizations and organization understands of consumers expectations. It is a win-win situation for the while society including business firms. Analysis The social marketing also helps to improve the image of the corporate among the customers as it is something more than profit making approach of marketing. While earlier approach of organizations was making profits by selling aggressively, this type of marketing focus on selling products that are more aligned to customers need and also helps in the welfare of the society in the long term. For the welfare of the society and increased regulations, organizations these days have a spate corporate social responsibility (CSR) unit. These CSR units works on the social responsibility of the corporations towards the society. For example, Companies will organize marathons for awareness about several issues (Chattanonon, Lawley, Trimesoontorn, Leelayouthayothin, 2007). Many companies are also focussing on CSR in Australia also. Myer and Qantas Airlines are in headlines from long time about their societal marketing. Myer operates in retail segment while Qantas is the first Australian airlines. Myer sells broad range of accessories, hardware, cosmetics, grocery, furniture, toys, books, clothes. Myer takes various initiatives for the welfare of the society. Both the organizations have changed their marketing mix in order to provide more value to customers. As a part of their social responsibility, they also give much importance to customer feedbacks. Customer feedbacks and complain is taken very seriously in both the organization (Bryan, Meyer, Campbell, Haris, Lyle, Summers 2013). Myer start initiatives quite frequently. It also started systems of taking suggestions from customers and award the best suggestions. Both Have reward card system. Qantas has also identified its carbon footprint and now collaborating with various environmental organizations across the world to reduce its carbon footprint. With the help of technology, they have drastically reduce the use of paper from their operations. Initially, these used to serve plastic bottle of water in flights to each passenger which also they have changed. Now, they offer water in glasses so as to consume less plastic (Meyer, 2004). Qantas publishes its report about its operations and CSR initiatives every year to be transparent with the consumers. Qantas also uses twitter to encourage feedback from customers and constantly making changes so as to provide better experience. Myer also have identified its social responsibility. They are also helping the environment by making their operations leans and reducing the consumption of paper (Meyer, 2004). Also Time to time, these companies organizes campaigns, social media events to bring awareness among customers towards the environment. In short, all these actions of the corporate are helping the whole society, people, corporate as well as environment. Myer also have strong impact on the life of the people by focusing on the well being of the community. They invest heavily in the development of local communities and thus makes a impactful contribution in the life of the people. Myer also has a philanthropic fund that is maintained purely with the intention of helping the societies in their well being (Dundon, Wilkinson, 2014). Labeling and packaging has become very important these days and all the organizations should spend time on these aspects also. Packaging is one the important aspect to attract customers and also it can improve the shelf life of the products. Also, Labeling is required to give exact information what are the ingredients that goes into making this products, the various information about the product, this product is suited to which group. If the labeling is good and informative, it will help customers to identify themselves more with the brand and brand will also be able to build the trust. There is separate state framework for this where it has been clearly identified what all information manufacturers need to share with customers. There was issue recently when country of origin missing in many products. However, later this becomes a rule. Australians prefers to eat more Australian origin food to support local farmers and also as well as to continue food manufacturing in Australia (Kotl er, Burton, Deans, Brown, Armstrong, 2015). Also, Companies are also adopting latest packaging techniques that tend to provide better packaging with much less use of paper and other raw material. Labelling and packaging also have a role to play in societal marketing. Honest labeling will help customer to take better decisions about what they want. Conclusion To conclude, it has been discussed that organizations are changing their marketing strategy worldwide in order to provide more value to customers by becoming more sensitive to their requirements and this is exactly the concept of societal marketing. Australian companies are also not untouched by it. There are many organizations in Australia that are using societal marketing to provide products to customers aligned to their own needs. This also prevents any mis selling and thus able to build better trust between corporate and citizens and thus helps in the welfare of the society. There is no doubt that recognizing social responsibility and then taking initiative to fulfill responsibility also demands investments but it is worth to gain the acceptance in the society. It also helps in improving the image of the corporates among the people and thus results in increase in sales although this is not the motive but this is the result of the honest CSR activities. Bibliography Bryan, B. A., Meyer, W. S., Campbell, C. A., Harris, G. P., Lefroy, T., Lyle, G., ... Summers, D. M. (2013). The second industrial transformation of Australian landscapes.Current Opinion in Environmental Sustainability,5(3), 278-287. Chattananon, A., Lawley, M., Trimetsoontorn, J., Supparerkchaisakul, N., Leelayouthayothin, L. (2007). Building corporate image through societal marketing programs. Society and Business Review, 2(3), 230-253. Dundon, T., Wilkinson, A. J. (2014).Case Studies in Global Management: Strategy, Innovation and People Management. Tilde Publishing and Distribution. King, B., McVey, M., Simmons, D. (2000). A societal marketing approach to national tourism planning: Evidence from the South Pacific. Tourism Management, 21(4), 407-416. Kotler, P., Burton, S., Deans, K., Brown, L., Armstrong, G. (2015).Marketing. Pearson Higher Education AU. Meyer, P. (2004). Rural Agricultural Shows in New South Wales, Australia: Marketing Events to Address Decline.Proceedings of the New Zealand Tourism and, 246