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Major Changes in Kuwaiti Culture and Economy during the Past 20 Years - Research Paper Example

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The paper "Major Changes in Kuwaiti Culture and Economy during the Past 20 Years" highlights that Kuwait has been modernizing its economy for several years and performs relatively well in many of the 10 economic freedoms. The economy enjoys high levels of trade freedom and fiscal freedom. …
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Major Changes in Kuwaiti Culture and Economy during the Past 20 Years
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Download file to see previous pages A marketing technique that works in, say, North America, may not work on another continent, like Asia. Using the same marketing method may actually backfire and even cause harm to a product or service when used in a country with a different culture (TradePals). The following factors need to be considered in international marketing:
International marketing research plays an important role in the identification and development of a company’s strategies for internationalization. It enables a business to identify, evaluate and compare potential foreign market opportunities and develop a marketing plan. Research also provides a company with foreign market intelligence to help it anticipate events, take appropriate action, and prepare for global changes.
Kuwait is located between Iraq and Saudi Arabia, and a short trip across the Persian Gulf from Iran. Kuwait was nominally part of the Ottoman Empire until 1899 when it fell under British protection. It remained a British protectorate until 1961, although Britain granted independence to Kuwait in 1914. Oil was discovered in 1938, and Kuwait is believed to have about 10 per cent of the worlds known oil reserves. With little arable land or natural fresh water with which to grow crops, petroleum dominates the Kuwaiti economy. Presently, Kuwait is a constitutional monarchy headed since 1977 by Amir Jabir al-Ahmad al-Jabir Al Sabah. Political parties are illegal in its 50-seat, popularly elected legislature, but several informal political groups — including Muslim groups — have put up candidates. Eighty-five per cent of Kuwaiti residents are Muslim, and only 45 per cent of the nation's residents are ethnic Kuwaitis. Others are mostly from elsewhere in the region.
In August 1990, Iraq attacked and invaded Kuwait. Following several weeks of aerial bombardment, a UN-mandated coalition led by the United States began a ground assault in February 1991 that liberated Kuwait.  ...Download file to see next pagesRead More
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