Global and Domestic Marketing
In the question, I pick three factors social, cultural, and technological factors and see their effects on global and domestic marketing.
Social Factors:
In both domestic market and global market, a customer's buying behavior is influenced by social factors. The role of social factors becomes especially important to impress others and identify with the groups to which the customer belongs. Social factors interact to influence the purchase decision through various means. For example, a person first suggests or thinks of the idea of buying a particular product or service, then the individual with the power and/or financial authority makes the ultimate choice regarding which product to buy. If this behavior is adopted by others in the group, the social factors begin to influence the marketing by others.
Many consumers purchase noticeable goods to satisfy not just material needs but also social needs such as prestige. In an attempt to meet these social needs, marketing managers of noticeable goods like cars, perfumes, and watches employ several strategies to highlight the exclusivity of their products. These strategies include using exclusive distribution, charging high prices, and limiting production (McLean, 1998).
As in the present time, the traditional husband-wife buying roles are changing. Traditionally, the wife was the main buyer for the family, especially in the areas of food, household products and clothing. However, with increasing numbers...
You need a stable foothold and insight into the dynamics of the marketplace from which to be able to peer effectively into the future.... Marketing research can provide real value by helping to provide the radar that will alert the enterprise to perils -- and opportunities -- ahead" (Duboff & Spaeth 2000, pp. 3-13). Proponents of market research maintain that these activities help to ensure that companies remain consumer-orientated.
Global Business Marketing Why do you think Toyota had waited so long to move much of its manufacturing for European sales to Europe? One possible reason why Toyota was so hesitant is because: the euro was a new currency that had been trading for only two years. This was problematic for the company, as they could not make decisions about production, due to the fact that the euro was untested against the
economic factor is probably the first to be considered when making a domestic or international marketing decision. In terms of the international marketing decisions, the economic factor will determine the initial export decision. Indeed, the economic factor practically summarizes everything in terms of the financial and economic health of the country in which the marketing decision will be applied, but with a direct impact on social or demographical factors
, 2003). Notwithstanding these similarities in the marketing function, there are some important differences that must also be considered. For example, even enormous countries in geographic and population terms that have relatively homogeneous populations may require more straightforward domestic marketing techniques and small city-states will require more elaborate international marketing techniques. For example, as Rao (2000) points out, "Given its strong tourism base and an open economy, Singapore has modern international
People and services are not easily moved among the various countries. Although securing work and permits in the United States for Mexican and Canadian immigrants, NAFTA has also caused considerable concern in terms of legislation. This is particularly the case in Canadian lawmaking. Several disputes resulted from NAFTA trading activities in the country. Such disputes for example include gasoline additives and possible related health concerns and nerve damage (Weintraub, 2004).
Marketing Products in America Marketing in America Marketing Ethics and Legalities Marketing ethics is a field addressing the standards and ideals defining acceptable conduct in the market (Murphy et al., 2005). Typically this will occur within the context of an organization (Murphy et al., 2005) although it also applies to the activities of the organization in the marketplace whether that is domestic or an international marketplace. Usually ethical issues and unethical issues
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