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A firms international marketing program must generally be
modified and adapted to foreign markets. This international
marketing program uses strategies to accomplish its
marketing goals. Within each foreign nation, the firm is
likely to find a combination of marketing environment and
target markets that are different from those of its own home
country and other foreign countries. It is important that in
international marketing, product, pricing, distribution and
promotional strategies be adapted accordingly. In order for
an international firm to function properly, cultural, social,
economic, and legal forces within the country must be
clearly understood. The task of International marketing is
more difficult and risky than expected by many firms.
One of the most controlling factors of international
marketing is management. It is very important for managers
to recognize the differences as well as similarities in buyer
behavior. Many mistakes can occur if managers fail to
realize that buyers differ from country to country. It is the
international differences in buyer behavior, rather than
similarities, which cause problems in successful international
marketing. An international marketing manager is a
manager responsible for facilitating the exchange of
products between the organization and its customers or
clients. Sometimes an international marketing manager will
find difficulties in completing the exchange of products.
Many surprises in international business are undesirable
human mistakes. An international corporation must fully
understand the foreign environment before pursuing
business matters. Problems constantly crop up and many
times have unexpected results. Sometimes these
unexpected results are unavoidable. Other times they are
avoidable. To be sure those avoidable situations do not
occur, international marketing managers must be aware of
Cultural differences take place among most nations of the
world. Differences in culture are one of the most significant
factors in an international company. All nationalities posses
unique characteristics, which are unknown to many
foreigners. Many of the top international businesses are
unaware of these cultural differences. It is very important to
understand these cultures in order to market a product
successfully. As an example, different nationalities have
different beliefs on how business matters should take place.
Where some countries prefer to work with a deadline other
countries can take this as being offensive. Many countries
feel it is an insult to be asked to work under a set time
period. A country may feel that a deadline is threatening
and may feel backed into a corner. On the other hand,
other countries try to expedite matters by setting deadlines.
To be effective in a foreign market it is necessary to
understand the local customs. Knowing what to do in a
foreign country is as important as knowing what not to do.
Failure to understand local customs can lead to serious
misunderstandings between business people. The simple
rejection of a cup of coffee can lead to total confusion. The
decline of an invite is sometimes considered an affront. To
avoid making blunders, a person must be able to discern
the difference between what is acceptable behavior and
what is not acceptable behavior. Violations of a local
custom can be insulting, and can cause uncomfortable
situations. To be a successful manager of international
marketing, one must be able to discern the differences as to
what must and must not be done. It is almost impossible to
attain complete knowledge and understanding of a foreign
As established, culture plays an important role in the drama
of international marketing. Of all the cultural aspects,
communication may be the most critical. It is certain that
communication has been involved in a number of cultural
confusion. Good communication linkages must be set
between a company and its customers, suppliers, its
employees, and the governments of the countries where it
performs business activities. Poor communication can
obviously cause various difficulties. One source of difficulty
among starting companies is that of effective
communication with potential buyers. The problem is that
there are many possible communication barriers.
Sometimes messages can be translated incorrectly,
regulations overlooked, and economic differences can be
ignored. Other times when the message does arrive, its
ineffectiveness can cause it to be of no value. Every now
and then a buyer will receive the message, but to the
companies disappointment, the message was sent incorrect.
It is normal in multinational businesses to send and receive
messages on a regular basis. Many well-known people
have incapacitated public speech introductions by using
inaccurate titles and names. Not all communication
problems are verbal. Some serious problems have
occurred as a result of non-verbal communication.
Non-verbal communication exist in numerous forms.
Sometimes a persons appearance can convey a stronger
message than intended. Untidy attire, for example, can be
more offensive in some nations than in others. The local
people often are willing to overlook most of the mistakes
made by tourist. On the ... more
Find essay on Property Tax
US Economy Expansion
million (or should we say 'billion' now) dollar question is whether or not the
United States' economy will stay in it's record 107 month expansion (according
to the index of leading indicators) or come out of the boom and take a downturn
into a recession. Nobody, including the Chairman of the Federal Reserve, Alan
Greenspan has a crystal ball to provide insight as to what will happen if
interest rates are raised, lowered, or left alone. However, Economists have
developed a set of indicators to aid in predicting when a recession is about to
occur and when the economy is in one. Indicators should not be mistaken for
predictors. They are simply forecasting tools, and like any forecast can be
misleading. The index of leading indicators that is reported in the popular
press shows our economy is still in an expansion. For the purposes of our
evaluation of the economy, we chose the Principle Economic Indicators tracked by
the Bureau of Economic Analysis and the U.S. Census Bureau under the Economics
and Statistics Administration at the U.S. Department of Commerce. There are
thirteen Principle Economic Indicators, and they fall into five major
categories: National Output and Income; Orders, Sectoral Production, and
Inventories; Consumer Spending; Housing and Construction; and Foreign Trade.
National Output and Income The first of the five major categories directly
relates to measuring the growth of the U.S. economy. National Output and Income
consists of the Gross Domestic Product (GDP), Personal Income, and Corporate
Profits measurements. GDP is the primary measurement of growth and measures the
total amount of goods and services produced by governments, businesses, people,
and property located within the United States. Both real (adjusted for
inflation) and nominal (current value in dollars) data is collected for
computing the GDP. The base year for the real data is 1997. The GDP is normally
reported as an annualized quarter-to-quarter change. The reason this measurement
is vital to tracking the growth of the U.S. economy is self-explanatory. When
the economy is growing, both total income and total output are increasing.
Furthermore, a steady increase in the GDP is healthy for the economy. According
to the U.S. Department of Commerce, U.S. economic output has grown at an annual
rate of 2.5 to 3.5 percent since 1890. The preliminary estimate of GDP in the
fourth quarter of 1999 rose at a 6.9 percent annual rate, which is the strongest
gain since a similar increase in mid-1996. This is an increase from the initial
estimate of 5.8 percent and is consistent with the expectations of analysts. It
is also a reflection of the widespread upward increases among the major spending
components, including consumer spending, goods exported, and state and local
government spending. In the third quarter of 1999, GDP rose 5.7% as a result of
increases in Personal Consumption Expenditures, nonresidential fixed investment,
and exports. Personal Income is a measurement of total pretax income earned by
individuals, non-profit organizations, and private trust funds. It is expressed
at an annual rate also. The more Personal Income increases the greater the
potential for the American people to spend and save money, which directly
influences the growth of the U.S. economy. Personal Income rose .7 percent in
January, following an increase of .3 percent in December. The average monthly
increases in 1999 were .5 percent. Some extenuating factors affected income in
recent months, including cost of living increases in federal transfer payments,
a federal pay raise, and agricultural subsidy payments in January. Real
disposable income, income after taxes and adjusted for price changes, increased
by .7 percent. There was no change in December. The individual personal saving
rate rose from 1 percent in December, which was its low, to 1.4 percent in
January. Savings rates generally go down in the months October through May due
to Holiday spending (includes "paying off" credit cards). There are
two methods in which Corporate Profits are reported by the government.
"Tax-based" profits are derived from corporate tax returns, and
"adjusted" profits reflect earnings from current production. Just as
increases in Personal Income are vital to the growth of the U.S economy,
increases in Corporate Profits are just as important on an even larger scale.
The greater the profits, the more potential for growth. This in turn has a
direct effect on employment rates, spending, etc. Profits reported from current
production increased $3.7 billion in the third quarter of 1999. This is a
dramatic improvement from a decrease of $6.5 billion in the second quarter.
Profits would have been about $10 billion more than they were in the ... more
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P: The Death of woman Wang
The Death of woman Wang The Death of Woman Wang, by Jonathan Spence is an educational historical novel of northeastern China during the seventeenth century. The author's focus was to enlighten a reader on the Chinese people, culture, and traditions. Spence's use of the provoking stories of the Chinese county T'an-ch'eng, in the province of Shantung, brings the reader directly into the course of Chinese history. The use of the sources available to Spence, such as the Local History of T'an-ch'eng,...
Marketing A firms international marketing program must generally be modified and adapted to foreign markets. This international marketing program uses strategies to accomplish its marketing goals. Within each foreign nation, the firm is likely to find a combination of marketing environment and target markets that are different from those of its own home country and other foreign countries. It is important that in international marketing, product, pricing, distribution and promotional strategi...
O: US Economy Expansion
US Economy Expansion The million (or should we say 'billion' now) dollar question is whether or not the United States' economy will stay in it's record 107 month expansion (according to the index of leading indicators) or come out of the boom and take a downturn into a recession. Nobody, including the Chairman of the Federal Reserve, Alan Greenspan has a crystal ball to provide insight as to what will happen if interest rates are raised, lowered, or left alone. However, Economists have developed...
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