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Environmental Adaption
Foreign marketers must constantly guard against measuring and assessing foreign markets against the fixed values and assumptions of their own cultures (their frame of reference).
Environmental Adaptation
-the key to successful international marketing
-a conscious effort on the part of the international marketer to anticipate the influences of both the foreign and domestic uncontrollable factors on a marketing mix and then to adjust the market mix to minimize the effects
Events and Trends affecting global business
-natural disasters
-wars and national conflict
-advancement in info technology
current interest international marketing can be explained by
-changing competitive structures
-shifts in demand characteristics in markets throughout the world
International Marketing
the performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit
International companies deal with
-unfamiliar problems
-different levels of uncertainty
-molding the controllable elements of the marketplace within the framework of the uncontrollable elements in such a way that marketing objectives are achieved
Domestic VS. International Marketing
-concepts, process, and principles are the same
-Difference = environment within which marketing plans must be implemented
Domestic Environment Elements
include home-country elements that can have a direct effect on the success of a foreign venture: political/legal forces, economic climate, and competition
Domestic Economic Forces
-capacity to invest in plants and facilities in foreign markets
-international economic conditions decrease, restrictions against foreign investment may imposed to strengthen the domestic economy
Domestic Competitive forces
competition within home country affects domestic and international plans
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