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International And Domestic Marketing Comparison: Bulgaria And The United States

1076 words - 4 pages

Trade on an international level has increased over the past decade and continues to increase today. There are many companies who do both domestic and international marketing, and many foreign companies that operate in the United States (US) domestic market today as well. When a business decides to operate on an international level, there are several factors that must be taken into consideration. The purpose of this paper is to examine those factors, which include the cultural, political, legal, and economic influences in Bulgaria compared to that of the US.Bulgaria is located on the border of the Black Sea in Southeastern Europe between Romania and Turkey. Bulgaria was at one time under the Soviet area of influence and became part of the People's Republic in 1976. However, the communist domination of Bulgaria ended in 1990 when the country "held its first multiparty election since World War II and began the contentious process of moving toward political democracy and a market economy while combating inflation, unemployment, corruption, and crime" (World Factbook, 2008). In addition, Bulgaria became a member country of NATO in 2004 and joined the European Union (EU) in 2007.Bulgarian government is a parliamentary representative democratic republic. "The political situation in Bulgaria is stable and the legislature, the executive and the judiciary are independent of the parliament" (Invest Bulgaria, 2004-2008). Georgi Sedefchov Paranov is the president of Bulgaria, and is a member of Bulgarian Socialist Party (BSP). The executive branch of government also includes a 20-member council of Ministers. The most dominant political parties are the BSP, which is communist, and the National Movement Simeon II, which is liberal.The US is a constitution-based federal republic with a strong democratic tradition. The US also has three branches that include the legislature, executive and judiciary. There is a system of separation of powers in which each of these branches has some authority to act on its own, with some authority to regulate the other two branches, with some of its own authority regulated by the other branches. The power of the federal government in its entirety is limited by the constitution, with a good deal of authority left up to individual states.Bulgaria is in a good economic situation as well, and offers foreign investors some of the most competitive business costs in the world. Corporate taxes and costs of labor are considered low by European standards, while privatization and deregulation have created refined telecommunications and public utilities industries. Bulgaria has experienced growth in its industrial output, gross domestic product (GDP), and farming rates. Increased growth is expected, which will increase the employment rate as well. In 2002, "the European Commission assessed Bulgaria as a fully functional market economy, with a high degree of macroeconomic stability and working market mechanisms" (Invest Bulgaria, 2004-2008)....

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