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The Impact Of Digitization On International Marketing

Written by Helena Kaiser

Paper category

Term Paper

Subject

Business Administration>Marketing & Sales

Year

2020

Abstract

Term Paper: This research will provide further insights into how digitalization is transforming and impacting marketing on an international level. It will analyze the different aspects, processes and procedures that enter the international marketing process. In addition, this research highlights the company's needs and necessary means to succeed in international marketing, and how to use digitalization to its advantage. In addition, the impact of the COVID-19 pandemic on international marketing will also be considered. The extent to which the company has adjusted to maintain its business and still achieve success at the international marketing level. During the COVID-19 pandemic, the role of digitization in international labeling will also be discussed. 3.1 Digitization Digitization is the conversion of analog information into digital information (Burkett, 2017). Digitization is a part of digitization and only affects a part of the company, not the entire company (Burkett, 2017). It is a gradual process, a network between physical and digital (Sen Gupta, 2020). From digitization to digitization, it means that "digitization is the foundation" (Sen Gupta, 2020). 3.2 International Marketing International marketing is the process of applying marketing strategies internationally (International Marketing, 2018). When companies apply international marketing, they do it not only at the national level but also at the international level. Companies must consider different cultures, lifestyles and values ​​(International Marketing, 2018). International marketing is usually used by joint ventures, direct investment and companies involved in international exports (International Marketing: Exploring International Marketing Strategies, 2012). It is important that companies conduct thorough research on a country’s beliefs and prejudices to avoid misfortune (International Marketing : Exploring International Marketing Strategy, 2012). Companies must adjust their strategies to suit foreign target groups (International Marketing: Exploring International Marketing Strategies, 2012. As it is more difficult to monitor cross-border marketing activities, companies should review their strategies "quarterly" (International Marketing: Exploring International Marketing Strategies, 2012). In December 2019, China reported multiple cases of a new virus called COVID-19 (Archive: WHO Timeline – Covid 19, 2020). Soon after, different countries in the world reported their first cases. In March, the WHO declared the COVID-19 virus a pandemic. (Archive: WHO Timeline – Covid 19, 2020). Governments around the world have imposed restrictions such as curfews and closures of shops and restaurants (Archive: WHO Timeline – Covid 19) , 2020). 4. The impact of digitization on international marketing. Digitization makes the classification, classification and interpretation of information more effective and efficient. It enables companies to analyze information easier and faster. In addition, digitization provides companies with the benefit of reserved space, because the format is no longer physical, but stored in an online database. Digitization is only effective for certain parts of the business and will not affect the entire company (Burkett, 2017). Due to digitization and digitization, consumers have more opportunities and can learn about products faster, thereby changing consumer behavior (Lipiäinen, 2014). Therefore, companies must adapt quickly and effectively to change. The result of digitalization is digital marketing (Patil, 2018). Digital marketing uses digital communication channels to promote the company's products and services (Patil, 2018), including social media and web pages (Patil, 2018), which means that consumers do not rely solely on the given information of the brand. Subsequently, this allowed the company to adapt to rapid changes in customer habits. Through digital marketing, companies can interact more closely with consumers (Patil, 2018). In addition, through digital marketing, the company can directly and clearly meet the needs of cross-border customers. Digitization has brought new digital technologies to help companies communicate with foreign customers and foreign suppliers (Katsikeas, Leonidouand Zeriteri, 2019). Companies can quickly and effectively adjust their marketing principles according to a country’s culture and their respective needs. In addition, digital marketing can help companies more easily “beware” of their competition and modify their marketing strategies (Patil, 2018). In addition, through digitization, companies can better organize their supply chains in foreign markets, and companies can more easily market and deliver their goods and services to foreign customers (Katsikeas, Leonidouand Zeriteri, 2019). Digitization helps companies monitor their progress and operations (Lippienen, 2014). This shows that marketing has become more customer-oriented in the digital age (Lipiäinen, 2014). Therefore, it is very important for the company to embrace communication and PRmindsets (Lipiäinen, 2014). This also contributes to brand building (Lipiäinen, 2014). 5. Impact of COVID-19 With the outbreak of COVID-19, the company has to adapt to the drastic changes in the global market and comply with its procedures and operating methods. Although some companies have been hit by others, they are booming in the technology industry (Global Marketing during Covid-19: How Companies Adapt, 2020). Companies such as Zoom, Microsoft, and Google offer free subscription trials. Read Less