January 4, 2011
Marketing in the world today is affected by so many factors in the environment. The factors include political and legal issues, which are the most important. Some other environmental factors that have a major effect on the marketing world are social, cultural economics, technological, and competitive. These factors surround the basis of the decisions made within marketing. Most organizations in the world today start out to function as domestic organizations. Domestic organizations aim to sell within their own country. According to love to know (2006-2010) the four P's of marketing- product, price, place and promotion- are often easier for companies to determine within the domestic market (Business, para. 1). Operating in a global market means that the organization has begun to offer their goods and services worldwide to expand the market and increase sales. Globalization presents a huge opportunity for success for many organizations. Domestic and global marketing helps to promote the organizations success and continue the expansion of the business by redesigning marketing plan to fit certain aspects. Toyota Corporation is an organization affected by these environmental factors because of the choice to operate domestically and globally.
Global Economic Interdependence
Marketing in the world today is highly dependent on global economic interdependence. Organizations that conduct domestic and global marketing are the automobile industries such as the Toyota Corporation. The Toyota Corporation uses its economic interdependence to help increase the sales revenue. The increase occurs because of the purchasing of vehicle parts and materials from other countries. The purchase from other countries is a key component that increases the countries market share. The effect of trade practices and agreements plays a large role in Toyota’s strategies and operations... [continues]
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