Multinational Marketing Management Essay

3402 words - 14 pages

The paper deals with the issues of doing an international business of furniture manufacturing. We will examine the potential markets for our outdoor and indoor furniture products and will compare the markets for the feasibility of doing business with. We will also discuss some of the key factors that needed to be considered while making a decision of expending the business. It, especially, discusses the USA, European and Asian furniture markets and their future economic outlook. Economic Outlook for USA and Asia First let’s have a look at the USA economy that has shown appreciable flexibility in various unusual circumstances. The spell of economic slump though persisted from mid-2000 to March 2001 and even aggravated with the passage of time. The situation that already was inappreciable further aggravated in the face of September 11 tragedy and caused a sudden break in economic activity. It was owing to the in time fiscal and monetary policy reviews by the US government, supplemented by the positive attitude of both consumers and businesses to trust in the nation’s future, a repair work of the economy was resumed and just managed to make the recent recession one of the mildest on record. The economic growth carried on in the last quarter of 2001, further got momentum in the first quarter of 2002 through to the end of the year. (Economy Report – United States of America) In the wake of the US economic recession discussed earlier, all the hopes were rested on the demand of products in European countries but the hopes were soon proved in vein. It is a fact indeed that effects of US economic slump were evenly transmitted across the Atlantic. The Europe’s economy could not resisted the slowdown exported by US economic slump, especially Germany's economy faced stagnation in the second quarter. (Asian Economic Outlook: Overview, Asia's Red-Queen Economies) On the Asian front, the main consumers like Japan carries through its own brand of economic recession that has resulted into increase in public-debt levels and anemic consumer demand. Although the sitting prime minister has promised revolutionary reforms to exterminate economic evils in both financial and corporate sectors, it is a fact indeed that true restructuring will be required to place the economy at right track and it will take years to take effect. (Asian Economic Outlook: Overview, Asia's Red-Queen Economies) In the face of the lake of assistance from US, European and Japanese economies, the Asian countries have to face the economic challenges of the current slowdown by themselves. As expected, the most affected group of countries were those that invested most heavily in high-technology electronics manufacturing during the last several years. Singapore has experienced two consecutive quarters of economic recession, and after non-oil export reduction by a phenomenal 24% in July, the outlook for the third quarter appears dismal indeed. Similarly, Taiwan has fallen into recession as well,...

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