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Global & Domestic Marketing

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Introduction

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.

Middle

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.

Conclusion

(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.

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