Leadership Marketing Institutional Affiliation †MyAssignmenthelp

Question: Discuss about the Leadership Marketing Institutional Affiliation. Answer: Introduction: Although there are many similarities between global and domestic leaders, but still global leaders are seen facing more challenges like language, mindset of different culture people, and difference in background. Thus developing competency among leaders related to transnational marketing is very important. Challenges faced by transnational marketing leaders usually comprises of ones that are related to technology and complex nature of work under different situations. They are also entitled to manage gaps between rich and poor by adapting flexible and adjusting nature in their work culture(Guetz, 2015). Out of various types of leadership competencies related to transnational marketing, three of the most important of them comprises of developing fundamental characteristics out of them. Ones which are also denoted as centre of global leadership competency include personal transformation and self awareness. Secondly, mental character of leader to manage issues by guiding and concreting actions, relates to desire of mental characteristic of leaders who can perform their work after optimising maximum resources. Other than this they are also self consistent, empathically strong and possess judgment skills. They are also entitled to motivate other employees working under international environment and accepting the complexity of working with different cultures. Thirdly, aspiration of behavioural competency among transnational marketing leaders is also found that relates to the quality of leaders recounting social networking skills and knowledge. Here tangible knowledge and explicit skills a re considered in order to provide visible results. Applying a framework of competency by emphasising more on education and assessment is desired to accelerate special types of transnational markets(Jokinen, 2004). Business strategy that focuses on single point of sale connections to emphasise on maximising efficiency and volume by selling products to individuals rather than building relationship with the buyers in called transactional marketing. These kinds of marketing strategy are depended on 4 Ps principles which are: Product, Pricing, Placement and Promotion(TechTarget, 2014). This kind of marketing strategy has proved to be expensive but provides benefits in long run. These kind of marketing require developing individual sales approach for which mobility contributes as an important factor. Since customers nowadays are highly depended on marketing strategies, creating buyer and seller relationship has become very significant. Transactional marketing lacks maintaining strong relationship with its customers and thus demands more flexible approach which can be fulfilled after involving mobility in its transactions. Creating brand loyalty among customers has also become focal point of many organisations. Thus two-way communication is facilitated by bigger companies through relationship management teams. With the growing technology and internet availability, bringing mobility in relationship management to increase sales through transactional marketing has become easier than before allowing companies to monitor customers demand and issues that can help in improving their brand. In transactional marketing, companies targets in making quick sales without wasting time on customer relationships and thus giving discounts and other benefits becomes mandatory. If mobility in busines s is applied it becomes tempting for other resources to invest in the business. However cost of making new customers becomes higher since penetrating in newer market is always costlier(Castro, 2015) References: Castro, J. (2015, 09 04). Relationship Marketing vs. Transactional Marketing: A Biased Discussion. Retrieved from https://www.multiversemediagroup.com/marketing-tips/relationship-marketing-vs-transactional-marketing-a-biased-discussion/ Guetz, I. A. (2015, 06). Transnational Strategy Shift: The Importance of Cultural Awareness. Retrieved from https://pdfs.semanticscholar.org/958e/4742d8e940cac950ecc9ec3fae3e290de749.pdf Jokinen, T. (2004). Global leadership competencies: a review and discussion. Retrieved from https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.457.4572rep=rep1type=pdf TechTarget. (2014). Relationship Marketing. Retrieved from https://searchcrm.techtarget.com/definition/relationship-marketing