Global Marketing Essay

599 words - 3 pages

With nearly half of the world’s largest corporations, an export rate only second behind China, and the perceived value of American goods by foreign consumers, the need for global marketing by companies in the United States is a necessity. Global marketing expands a company’s market, allowing them to grow, and not only rely on their own country resources and revenues for their success. Companies that expand operations abroad gain benefits to their business such as new approaches to distribution, development of new products, and new insights into customer behaviors. As a nation, global trade provides a way to source needed materials and products that are either not available, or in insufficient amounts to meet the needs of customers.
Environmental factors have a large influence when deciding to expand a business abroad. Marketers must pay attention and understand not only the demand patterns of the targeted markets, but also the competitive, economic, social-cultural, political-legal, and technological influences. A nations size, economic development and income determine its prospect for business expansion, and different levels provide different opportunities. An important economic factor to consider when planning to enter a foreign market is the countries infrastructure; the basic system of transportation networks, communications systems, and energy facilities. An inadequate infrastructure can make it difficult to manufacture, promote, and distribute goods and services in a particular country. Each country has its own special set of customs, and it is important that marketers study the nations culture, including language, education, religious attitudes and social values. In addition, with the constantly changing levels of political unrest in several countries, global marketers must continuously keep informed of the laws and trade regulations in each country with which they wish to compete.
Several strategies with varying...

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