Marketing Success of International Businesses - Essay Example

International marketing Introduction International marketing is generally the marketing principles application to more than a single country for any business operating globally. The term resembles global marketing since the two are interchangeable. For any international business, this kind of marketing is necessary since it is what pushes the operations of the business through and help increase its sales in international markets. However, there are different strategies in diverse types of international businesses especially in the way they strategize on their marketing. This is because there are respective factors, which dictate the type of marketing each business is to adopt for its success in the global market. This paper critically evaluates the m ain factors that affect the marketing success of an international business in 2010. It is appropriate to note that 2010 is a year experiencing significant changes in all sectors of business. It is therefore, marked as a year of renaissance in the marketing world where different strategies are coming in since their development and introduction at the beginning of the 21st century. Therefore, it is apparent that there are valuable factors of consideration in international business form of marketing, which they adopt in the international arena. Every business global or domestic ideally has factors both internal and external existing, which eventually have a appreciable effect on the business’s operations. Some of these internal and external factors are controllable, but a larger portion of the same is uncontrollable and still yet they influence the company in different ways (John 2010, 678-889). These specific external and internal factors make up the entire marketing environment in which a business has environmental factors influencing the business’s marketing decisions. The factors can be grouped into five main environmental factors affecting an international business in its marketing including technological, social, economical, competitive, and regulatory. Social factors are in the definition, the demographic characteristics of the international population as well as its value. Some of the demographic characteristics include consumers’ buying patterns, gender differences, attitudes, culture, and diversity. Customers are essential what the social factors are all about in the field of marketing (Tomas 2010, 672-876). They are extremely essential in every department of any company, without the consumers there would be in an ideal world no purpose for the organization or firm, since it would not operate. Regardless of the service or product of the company, a company must have the ability to leverage their own marketing or even the organization production, ensuring that they gratify customer demand (Tony 2010, 352-389). Especially in 2010, the customers are well informed and make appropriate choices based on their judgments, which means that business marketing has taken another shape and needs seriousness in it for international business. Therefore, even with the great plans of expanding the company internationally, not a single company can give a blind eye to the operations of other countries in terms of the customer availability (John 2010, 678-889). For it to succeed in expansion, it will have to generate an enormous niche of customers to help in developing a fast movement of goods and services it provides, and this is what has an impact on the marketing approaches selected. Winning the trust of these customers is the most notable aspect above all in this environmental factor of which, 2010 is a difficult year for the marketers because they are dealing with informed customers who are not ready for any exaggerations. Tomas (2010, 672-876) cites in his works that people, who are the customers, have ideally shifted in thought more than even the commercial businesses. An immense probability is found in that, in an ideal world, abyss separates companies and individual consumers (Tony 2010, 352-389). Therefore, Companies involve the appropriate marketing and learning to change with their respective customers will develop immense benefits from the expansion of the consumer confidence and enjoy the increased buying (Tony 2010, 352-389). It is a year full of challenges and many customers are going for what they want, and nothing less meaning that any marketing in 2010 needs to be a well thought approach before applying it in this year. Economical factors are in definition, anything pertaining to the income, resources and expenditures affecting the cost of running a household or business. Economic factors influencing marketing in 2010 include the direction and nature of the national economies internationally in which a business operates and markets its products (Carlos, Sousa and Fernando 2010, 246-278). For international business, it includes generally, the global economy. It is evident that consumption of any given product or service is affected by the precise wealth of a given population, which means that international businesses must plan their marketing accordingly (Tomas 2010, 672-876). Some enormous considerations are among others the availability of credit as well as the disposable income in particular markets. Both interest rates and inflation in a given country affect its GDP posing as an economic factor hindering or helping the marketing efforts. Year 2010, is one of the strange years where inflation and other financial crisis have hit economies and affecting the general global economy meaning that, there is an effect on consumer behavior (John 2010, 678-889). This means that international marketing for businesses is taking an interesting direction with many international businesses forced to divert marketing approaches and strategies and change them regularly to fit respective regions depending on economic statues of these regions (Carlos, Sousa and Fernando 2010, 246-278). Technological factors are innovations or inventions from engineering research or applied science, which eventually have an impact in marketing of a product or service (Carlos, Sousa and Fernando 2010, 246-278). Technology in year 2010 continues to improve ideally at an exponential rate with innovations coming aboard. It is, therefore challenging many international businesses to stay on top of these technological changes using them in getting more work done particularly in a shorter period (Tomas 2010, 672-876). International business marketers, therefore, must be aware of the respective changes in 2010 affecting their industries or businesses. New devices, techniques and strategies, are some of the 2010 new ventures in the world of technology, which are influencing the marketing processes. They help or demean businesses in staying ahead of theirs competition as well as avoid obsolescence. The 2010 has seen the introduction of technologies for instance Smartphones, which are been a favorite for marketing products (Carlos, Sousa and Fernando 2010, 246-278). The Internet also continues to gain roots in many countries with activities like online shopping taking shape globally and enjoying the many and new ventures of customers. Therefore, this is pushing marketers in 2010 to thrive in online marketing and strategize on the best way to do it to capture the majority of the audience and probably emerge as the best and increase sales. On the same line of technological factors, 2010 is a year experiencing a boom in social networks usage among many people globally. Social networks for instance face book and twitter are of paramount influence in the marketing industry of all international business (Carlos, Sousa and Fernando 2010, 246-278). The businesses are without option rather than to market their products in these social sites. The social site marketing has become an excellent and formidable approach in all marketing strategies of international business because they are the only way of reaching out to the majority of the population with the product or service (Tomas 2010, 672-876). Competition is also a factor in international marketing an affecting the international business. This refers to the alternative firms, which could provide a product or service to satisfy a particular market’s needs (Carlos, Sousa and Fernando 2010, 246-278). Competitors are one significant environmental factor when considering any business expansion and, therefore, part of what affects the 2010 marketing. Every company has external peers acting on similar functions within their sole business and professional discipline. These fellow peers are generally the main rivals, and they compete in the production of the services or products of the organization (John 2010, 678-889). The rivals in the business contribute highly to the overall organization by their ability in bringing out the same services or products especially of lofty caliber and at exceedingly cutthroat prices (Tony 2010, 352-389). Therefore, the competitors influence the way a company conducts its marketing. Competition among the rivals is extraordinarily healthy from organizational market perspective because it gives choices to customers as well as provides the organizations an exciting opportunity of create a market niche but it at times acts as lethal because it challenges an international business in expanding its marketing to other foreign regions. The 2010 marketing is explicit that many businesses have come up with similar products, and it is characterized by floated markets with same products (Tomas 2010, 672-876). This is, therefore, a whopping factor since competition is high and all international businesses will have to up their game. In expanding internationally and conducting marketing in 2010, any company will need to look into this environmental factor bearing in mind that it will have to have an overview before rolling the operations to avoid future losses for the company (Tony 2010, 352-389). In citing the competitors, this helps the company adopt marketing strategies of how to become the best and attract many customers beating the other companies and taking hold of the niche. In Carlos, Sousa and Fernando (2010, 246-278), they cited six main marketing approaches to apply in the 20th century in strategies’ formulation. Number four of the strategies is to understand competition’s weakness for other companies and then developing it in marketing business. He notes Blockbusters on his works of the late fee drill majorly as a case in point of the way a new business competitor, Netflix, influenced consumers in its marketing in trying their brands over those of their counterpart Blockbuster. The rival Netflix, had their business operations marketing with no late fees, and it was possible for one to keep a movie for as long he or she likes. This shows ideally that competitors are a key environmental factor in marketing to consider before moving on with the expansion strategy. Political factors are also on the limelight of year 2010 affecting marketing for international businesses (Tomas 2010, 672-876). These factors include the regulatory and legal issues controlling individual businesses and industries. Year 2010 has seen many issues politically with countries dictating on their business environment. There are numerous issues to consider for international business marketing including antitrust laws, fair-trade decisions, taxes, wages, as well as other government activities (Tony 2010, 352-389). All these are countries’ designed in protecting the business operations. A clear example is particularly with the previous years sore relations between China and Google, with China controlling and giving commands to Google on the terms of operations within the boundaries, therefore, banning it from operating within the country. This is one prominent example showing how politically countries across the globe are affecting international marketing and having an impact on how the markers approach the whole practice. Ecological factors have also featured in year 2010 as a factor influencing marketing especially in the global market. This concept refers majorly to how humans interact personally with the physical environment (Tomas 2010, 672-876). As opposed to the previous years, the globe at large has more concerns with pollution as well as the loss of habitat including biodiversity. This has ramifications particularly in for international businesses because they have to adhere to the ecological demands (Tony 2010, 352-389). It is the main reason why 2010 is having nearly all industries spawned "green" in operating their businesses. Conclusion Year 2010 has had significant factors affecting the marketing success of international businesses. These factors include among others, social, economical, political, technological, ecological, and competition all in the global market. It is appropriate noting that there are different strategies in diverse types of international businesses especially in the way they strategize on their marketing. This is because there are respective factors, which dictate the type of marketing each business is to adopt for its success in the global market. It is now up to international businesses to adopt the appropriate marketing approaches in year 2010 and plan ahead for years to come. References Carlos, M.P., Sousa, E. and Fernando, L 2010, Journal of International Marketing, volume 18(1) 246-278 John, S 2010, International Marketing Strategy and Theory 5th Edition, Journal of Global Marketing, 5(2) 678-889 Tomas, M 2010, Intra-organizational factors and market orientation: effects of national culture, International Marketing Review, Volume: 26(6) 2010 672-876 Tony, W 2010, Global Advertising, Attitudes, and Audiences, Journal of Global Marketing, 5(2) 352-389 Read More