The coronavirus pandemic has eclipsed the appeal and growth of globalmarketing according to many commentators, analysts and professionalpractitioners.
International supply chains have been disrupted, fractured and withdrawn.Consumers are being denied access to the purchase of long-establishedpreferred brands, products and services.
Businesses are experiencing significant changes in the terms, nature andduration of trade. Understandably, Boards of Directors and senior managementteams feel exposed, vulnerable and lacking control.
The supply of specific brands of COVID-19 vaccines has been the subject ofself-interested political decision-making by national governments. That is nothealthy for individuals, communities, confidence, commercial relationships andglobal commerce.
China, with its seeming vindictive and highly politicised tariffs onAustralian wheat, barley, wines and crayfish (lobster) have heightenedsensitivities about cross-border and cross-cultural business and marketing.
Rapid pursuit and securement of alternative market places have been largelysuccessful, with the exception of wines. Sales of, and revenue from,Australian brands, languish in a highly competitive global marketplace, and inthe face of 100+% imposts.
Ironically, income from Australian iron ore exports to China, with inflatedprices (and profit margins) has been sufficient to effect a marginal overallcontraction of income from China of some 2.3%.
That is reflected in the market value of several major mining companies, andthe wealth of mining entrepreneurs (two Western Australian-based individualsnamed the richest Australians by the sole national newspaper).
Attractive, large volume and lucrative alternatives to the communist Chinamarketplace have generally not been found within Australia.
Calls for Australian manufacturers, growers, processors, distributors,contractors and retailers to turn their backs on global markets and marketingare understandable, but misplaced.
Forensic analysis of the local marketplace and economy reveal a strikingreality. Australia’s 25 million population is the most diverse in the world.More languages and dialects are spoken than in the USA. The ethnicity of itspeople is broader than that of Israel.
Indeed, the relatively recent national census revealed that more than 23% ofresidents in Australia do not use English as the first and preferred languageat home.
In short, Australia in its own right is a diverse, dynamic global marketdomestically. Many, if not most of those who call Australia home have embracedand contributed to the national culture, lifestyle, cuisines, products ,designs, architecture, values and understandings.
Immediately prior to the closure of national borders because of the pandemic,the largest single source of migrants was from sub-continental India. On 1stJanuary, 2021, the first births of new Australians nationally and in WesternAustralia were ethnic Indians. Therefore, Australian businesses should notignore or reject global. We are global, and should celebrate that fact.
There is much to learn and to profit from better respect for, understandingof, servicing and utilising our local complex consumers, and their globalnetworks, family trees and relationships.
So, think global, look local …
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