Environmental Factors Paper
Sept 15, 2009
Global and domestic marketing has expanded very rapidly during the last half of the 20th century. Nowadays, in a climate of low economic growth, many industries much more see international markets as a potential vehicle for profit growth. Global and domestic marketing is becoming of ever-greater importance to more and more companies and organizations around the world. However, global and domestic marketing is complex because overseas markets are usually different in significant ways from the home market and because it is more difficult for managers to understand and learn about markets in other countries. How to plan a successful global and domestic marketing plan? One way is to become more aware of external environmental factors that are present in global marketing. Such factors as political, cultural, and business ethics should be analyzed companies when formulating a global marketing strategy. An effective marketing strategy will help businesses determine the basis for all of their marketing efforts and provide them with a blueprint for accomplishing them goals and objectives. In this paper, I analyze these environmental factors and give brief examples on how they can affect a global and domestic marketing plan for Nike.
As a domestic company considers on whether or not to globalize the operations several key factors must be decided upon from the beginning. A company must take a close look at the global marketing environment; the company must decide whether or not to take the product to the international market, decide which market to enter into, decide how to enter the market, decide on a global marketing program and decide on the global marketing organization.
Once the decision has been made to go global, the marketing strategy will be dictated by three environmental factors: economic... [continues]
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