Economic Globalization Essay Example | Topics and Well Written Essays - 500 words

Economic Globalization - Essay Example In general terms, economic globalization can be considered as an objective trend that features allotment of factors of production as well as transnational flow which have emerged as social productive forces have gained more strengthen. The need of the mature market to have constant expansion in both the international and the domestic markets lays basis for the economic globalization as a phenomenon. Economic globalization has caused a co-existence of challenges and opportunities and has resulted into many losses along with gains as will be shortly looked into in the following sections. Economic globalization is fairly much like the first industrial revolution. The first industrial revolution came as a precursor of the material prosperity. The first and foremost similarity between economic globalization and the first industrial revolution is that both have resulted into an immense and abrupt new era of social productive forces along with the opportunity to re-establish the global economy. Today, the world economy is becoming integrated as more and more state boundaries are losing their significance as a result of the expansion of trade and material exchange. Economic globalization will have profound impacts on the international environment. The promotion of international trade directly signifies the spread of economic globalization. One gets an instant sense of connectedness with the globe when one living in US sees Chinese tag on the T-shirt, Pakistani tag on the football, and South Korean sticker on the car standing in the porch. But on the other side, there are many negative impacts of economic globalization on the international environment. From a general perspective of microeconomics, the world is not at an acceptable level of equilibrium, but rather is experiencing sharp fluctuation, aggressive speculation, and controlled monopoly or polygopoly. Statistics and quantitative analysis are geared for the short term and often yield wrong and unpredictable

Branding Essay Example | Topics and Well Written Essays - 750 words

Branding - Essay Example The primary thing is that branding is not a straight jacketed, isolated and sterile activity that is totally severed from the nature of the product being branded, but is rather an aspect of the overall process of product designing, manufacturing and marketing (LePla & Parker 2). The primary purpose of branding is to educate the consumers regarding how a high quality and innovative product stands apart and is way ahead of the substitutes being offered by other competitors. The popular belief is that it takes loads of money to create a successful brand. Yet, the fact is that brands are built in the minds of the actual consumers. Hence, there is no consumer who does not want a product to be bereft of the time tested attributes like quality, utility, usability, durability, credibility, reliability and reputation. Therefore, if a company has a viable product that meets all these attributes and possibly a little extra, the concerned marketing experts can easily push that product into the c onsumer consciousness, within an affordable budget and some productive effort. Thereby, the primary purpose of branding is to bring to fore the key attributes that differentiate a successful product from its competitors, to be consistent about the claims it tends to make regarding a particular product and to make sure that the products stands by these claims when actually bought and used by the consumers, to identify and target the particular audience who have a need for that particular product and to educate and convince them regarding the product (LePla & Parker 5). Products like people have a character and a personality. However, in the recent times, marketing experts have been so entangled in the personality ethic that they have simply lost sight of the relevance of the overall character of a product. A branding approach based on personality ethic is more about believing that success of product is solely dependent on its public image and the mass perceptions associated with it ( Covey 19). In contrast a branding approach based on character ethics holds that if a product like a person is supported by a quintessential solidity of quality, character and integrity, it will definitely be able to hold on to and justify the image and perceptions being created about it, thereby leading to a successful brand (Covey 22). This is my essential belief about professional branding. Certainly, creating and managing consumer perceptions is important, but such perceptions are bound to fizzle out in the short term, if not backed by a product that is about quality, technology, utility, durability and reliability. Many apt examples do support this essential belief about branding. For instance, the success of many famous brands created by Apple like iPod and iPhone owe it to the fact that Apple places the consumer needs and requirements at the center of its closely integrated effort at product designing, manufacturing and marketing (Greg 1). The crux of Apple’s branding a pproach is to identify the consumer needs, to design and manufacture a quality product that fulfills those needs much better as compared to other competitors, and to eventually educate the consumers and highlight the key attributes of that product in a consistent and planned manner, thereby leading to a successful brand that is able to withstand the challenges posed by time and altering technologies. Take another