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International Marketing Environment

Entering global markets.

There are a number of steps that need to be taken before you decide to enter international markets.

Analyze the international marketing environment. A PEST/STEP analysis needs to be conducted on the market you enter, to assess whether it is worthwhile or not. Lets briefly look at some factors that may influence an international decision.

Political factors

Consider:

• The political stability of the nation. Is it a democracy, communist, or dictatorial regime?
• Monetary regulations. Will the seller be paid in a currency that they value or will payments only be accepted in the host nation currency?

Economical Factors

Consider:

• Consumer wealth and expenditure within the country.
• National interests and inflation rate.
• Are quotas imposed on your product.
• Are there import tariffs imposed.
• Does the government offer subsidies to national players that make it difficult for you to compete?
  

Social Factors

Consider

• Language. Will language be a barrier to communication for you? Does your host nation speak your national language? What is the meaning of your brand name in your host country’s language?
• Customs: what customs do you have to be aware of within the country? This is important. You need to make sure you do not offend while communicating your message.
• Social factors: What are the role of women and family within society?
• Religion: How does religion affect behaviour?
• Values: what are the values and attitudes of individuals within the market?

Technological

Consider:

• The technological infrastructure of the market.
• Do all homes have access to energy (electricity)
• Is there an Internet infrastructure. Does this infrastructure support broadband or dial up?
• Will your systems easily integrate with your host countrys?
  
   

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Further reading:

Case studies from www.thetimes100.co.uk

Principles of Marketing by Philip Kotler

Principles of Marketing by Frances Brassington