The paper “ Environmental Influences on Export and Import Marketing Mix Strategies in Australia” is a great example of a report on marketing. The Australian economy has experienced rapid growth in the recent past presenting numerous challenges and opportunities for both domestic and international business companies. Wu (2008, p. 169) postulate that due to globalization, many multinational corporations seek to expand their operations in the international marketplace in order to reap from the unprecedented international business opportunities. Business companies in Australia just like in other countries around the world continue to feel the implications of increasing globalization of the world economy.
As such both at home and abroad business companies must contend with increased international competition, reduced tariffs, deregulated markets, as well as changing needs and expectations of consumers. According to Chan & Ahmed (2006, p. 10), the Australian society is multi-cultural in nature and thus presents significant opportunities and challenges for international marketers. The political, economic, socio-cultural, financial, technological and legal implications of this multi-cultural nature of the Australian society in addition to a dynamic Australian economy cannot be ignored. Therefore, marketers must acknowledge and recognize the potential as well as the challenges of diverse ethnic markets such as the ones exhibited by the Australian society and economy in order to effectively achieve their marketing objectives.
The purpose of this report is to provide an international marketing environment analysis report for Australia. In order to achieve the foregoing, this report shall focus on analyzing the environmental factors influencing international marketing; as well as current challenges and opportunities for international marketers in Australia. 2.0 International Marketing Environment in Australia2.1 Economic FactorsGovernments use economic factors to determine how they allocate resources in both industrial and commercial sectors with the objective of realizing structural changes with regard to capital, labor as well as product markets.
The economic policies adopted by a country also are aimed at enabling domestic business to respond to international challenges such as stiff competition and advancement in information and communication technologies by addressing not only political, but also economic issues (Tang, 2011, p. 88). Market characteristics exhibit profound implications on strategies adopted by international marketers. While market size is influenced by population size and expected sales; macroeconomic determinants such as levels of income, purchasing power, levels of disposable income and gross national product (GNP) influence performance of various industries in the economy (Marketing Association of Australia and New Zealand, n.d, p.5).
According to the Australian Bureau of Statistics (2013), the country’ s Gross Domestic Product (GDP) and Real Net National Disposable Income (RNNDI) grew by 3.1% and 4.1% respectively between the period 2002-03 and 2011-12. This is indicated in figure 1 below. Additionally, Australia’ s indicators of economic growth such as domestic income have shown significant growth over the past decade.
As such, the economic factors in Australia are favourable to international marketers and their activities. Source: Australian Bureau of Statistics, 2013 The Australian economy is primarily regarded as the producer of agricultural goods, minerals and energy. These major industries have historically played an integral role in the country’ s economic development. Other major industries include manufacturing, construction and the services industry. The services sectors include industries such as wholesale and retail trade, finance and insurance, property and business services, transport and communications, tourism and recreation, personal services, as well as government and community services among others.
This indicates a diverse economy with great opportunities and potential for international marketers (Eslake, 2007, p. 1& 2).
Australian Bureau of Statistics. (2013). Feature Article: Recent Trends in Real Income Growth. Retrieved on 22 Nov 2013 from http://www.abs.gov.au/ausstats/abs@.nsf/39433889d406eeb9ca2570610019e9a5/78b08abe5e6f2df1ca2570d6001366dc!OpenDocument
Chan, A. M. & Ahmed, F. (2006). Ethical Marketing in Australia. International Review of Business Research papers, 2(4), pp.10-21.
Czinkota, M. R. (2012). International Marketing. Cengage Learning. Boulevard: Cengage Learning.
Eslake, S. (2007). An Introduction to the Australian Economy. Retrieved on 22 Nov 2013 from http://www.anz.com/resources/e/6/e6742e804e472aae9633b66672659df2/CO-Article-An-Introduction-to-the-Australian-Economy-Jan2007.pdf?MOD=AJPERES
Kotler, P. & Keller, K. L. (2006). Marketing Management, 12th ed. New Jersey: Pearson Prentice Hall.
Marketing Association of Australia and New Zealand. (n.d). International Marketing: An Overview. Retrieved on 22 Nov 2013 from http://www.marketing.org.au/images/cimages/internat.pdf
O'Cass, A. & Julian, C.C. (2003). Examining firm and environmental influences on export marketing mix strategy and export performance of Australian exporters. European Journal of Marketing: Special Issue: Marketing Management in Australasia, 37(3-4), pp.366-384.
Singh, G. (2012). Political Environment and Its Impact on Tourism Marketing: A Case Study of Fiji. International Journal of Marketing, Financial Services & Management Research, 1(6), pp.1-13.
Tang, R. (2011). An empirical study on the factors influencing international marketing strategy development among successful exporters in Australia, DBA thesis, Southern Cross University, Lismore, NSW. Retrieved on 22 Nov 2013 from http://epubs.scu.edu.au/cgi/viewcontent.cgi?article=1248&context=theses
Wu, J. (2008). An Analysis of Business Challenges Faced by Foreign Multinationals Operating the Chinese Market. International Journal of Business and Management, 3(12), pp. 169-174.