• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Global & Domestic Marketing

Extracts from this document...


Global & Domestic Marketing Keneisha Dunlap University of Phoenix MKT-421 GA04BSMO9 Gina Owens- Ricks January 31, 2006 America is a world of opportunity, but we also live in a continental domestic market of opportunity. Firms can no longer afford to only pay attention to their domestic market, regardless of how large it is. Global marketing is dangerous because of some external environmental factors industries face like economical, political, legal, cultural, and social. However there are only two that stand out most frequently that is economical, and cultural. Every culture is very different rather it is clothing, values, or food. When doing business internationally you have to know how to market to your foreign consumer. In the textbook example cultural diversity Campbell's Soup developed a marketing strategy specifically for their soups. ...read more.


Also, their government's political philosophy affects economic policy as well as the degree of regulation or assistance it exerts on internal commerce and external trade. Aspects to consider include the quality of the economic and financial management process, long-term development strategy and short-term policy measures. Regarding the latter, particular attention should be given to fiscal, monetary, wage-price and foreign exchange rate policies. In recent years, government restrictions have been imposed in many countries for economic reasons. One particular restriction, a fixed exchange rate for the currency, can cause serious problems for foreign creditors. A Foreign banks' presence can also help to achieve greater financial stability with host countries. As the host countries may benefit immediately from foreign entry, if the foreign bank recapitalizes a struggling local institution and, in the process, also provides needed balance of payments financing (afex.com). ...read more.


(afex.com) It is best to weigh the disadvantages and advantages when marketing internationally which include any of the following economical, political, legal, cultural, and social. The point is that no matter how great your marketing is a business may fail or succeed if you know nothing about your consumer. Nothing is ever guaranteed including success, but it can be planned for. Businesses need to foresee their market when going internationally. One of these resources can include advisory consultant, focused not only on marketing risk consideration, but marketing risk evading, to assist with a non basis opinion when the situation demands it. International marketing can be risky, but shouldn't be overlooked for fear of failure. Resources http://afex.com/ as Retrieved from the World Wide Web on January 31, 2006 Marketing Principles & Perspectives: Principles & Perspectives Author: Bearden, William O., Laforge, Raymond W. Copyright (c) 2004 The McGraw-Hill Companies ?? ?? ?? ?? Global & Domestic Marketing 1 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. creating a marketing proposal

    Primary research involves gathering information for the first time. Secondary research uses information already gathered. If you were thinking of launching a new type of shampoo and gave it to a group of people to try first, this would be primary research.

  2. Marketing Strategy - Nintendo Gamecube

    I also managed to find the Sony Corporate site on the Internet and have sent them en e-mail (see appendix for evidence) asking them some questions on their marketing strategy such as how they decided to market the Playstation to consumers.

  1. Strengths Factors in Global Business

    Innovative Business Strategy Making use of an extensive research team, Starbucks constantly develops ways to attract new customers, while maintaining loyalty from current customers. In 2004, Starbucks launched an in-store CD-burning service powered by HP in its' Santa Monica, California Hear Music Coffeehouse.

  2. Tourism principles and practice.

    Clearly, the travel and tourism marketer has greatest control over product design and employees, less over purchasers and very little if any direct control over the host community. The marketing response and internal marketing Increasingly known, as internal marketing it is a logical extension of the marketing mix considerations to recognize that the employees of an organization are stakeholders too.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work