Business Marketing
Marketing Beyond Borders
As a result of changing regulations and technological advances, businesses are now capable of ever-greater geographic reach. However, the changing competitive landscape also carries the risk of new competitors and new tools to gain insights into consumer preferences. The 21st century competitive environment emphasizes the strategic importance of capable business marketing is illustrated by considering the multitude of factors that have expanded the boundaries of the marketplace.
New Opportunities and New Values
Access to new markets presents new both new challenges and opportunities. While socio-demographics and small regional differences, within a country, present variables for marketing, a shared experience of culture serves as a foundation. Marketing beyond borders presents the challenge of learning and adapting to different cultural values. As the research of Gert Hofstede has shown, the national culture of strong individualistic countries, such as the United States or the United Kingdom, exhibit significantly different attitudes and values than more collectivist countries, such as China (Hofstede, 2012). Marketers must consider whether the home country product offering and message is fits with the values of the new market, or if the offering should be customized to achieve success.
Nations are increasingly interdependent as each country exports the products of their respective comparative advantages. In, "The Impact of NAFTA on the United States," the paper supports the conclusion that Mexico benefitted significantly, with negligible gains for the United States due to the fact that increased trade within the region was offset by decreases with non-members (Burfisher, Robinson, & Thierfelder, 2001).
However, NAFTA is noted for its qualitative benefits to Mexican stability during the early 1990's...
Environmental Scan External Environmental Factors Stryker is a medical equipment manufacturer and marketer. The regulatory environment is the most critical external factor for the company. The medical device industry is governed by the FDA, which must approve all medical devices prior to their use by the public. Almost all of Stryker's products is under FDA jurisdiction, and therefore the company is highly dependent on the FDA for getting its products to market.
In what the economic stability of the United States is concerned, this has been of great use for Wall Mart, since it allowed it to develop a rather monopolistic position for itself. Thus, there have been many cases in which the goods' producers have complained because they could not sell their products at the prices they desired, when having Wall Mart as the main great buyer. When it comes to
Thus, although hamburgers and fries are synonymous with 'comfort food' in America, in other countries, these food items are exotic -- also the pull of the 'whining' child has less clout than in America, hence the lesser popularity of Happy Meals and the greater emphasis on adult staples like beer. The idea of media violence in "Pulp Fiction" rather than "I'm lovin' it" shows how America is capitalizing on even
e) Political systems and international relations The political systems raise complexities through distinctive legislations. While the political systems in the U.S. might militate for a specific business feature, foreign political system might militate for a different business feature. The complexities include the need to spend increased funds to research and comply with the laws of the political systems across the globe. In terms of the international relations, these would not raise any
Starbucks' code of ethics applies to its entire operations, including its partners, irrespective of local laws, which of course are also adhered to. Political systems have had some impact on Starbucks, compelling them to joint ventures and partnerships rather than greenfield investments. International relations are critical to Starbucks, since it needs strong trade agreements and positive relations not only to operate in its multiple foreign markets but also for sourcing
Environmental Factors Influencing Marketing This study outlines a report on my views as a consultant on the environmental factors that will affect marketing of educational toys, EduTot in the five selected countries. The selection relied from the fact that they have the greatest potential to accept the educational toy products. Various environmental factors will be considered in the report, with an analysis of supporting details. The study will also capture a
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