The paper "Political and Economic Factors Affecting International Business" is a perfect example of a Marketing Case Study. This paper is on marketing in international business operations specifically for the automobile industry in the United Kingdom. Issues affecting international marketing are both internal and external to the organization. Internal factors include size and capacity of the organization and realignments due to foreign policies and regulations. External factors influencing marketing are mostly political, legal barriers and consumer trends. Marketing is a major part of global business to be able to get the necessary customers for its products.
The paper comprehensively handles the factors affecting marketing at a global level. Introduction Marketing is an activity that sets institutions and processes to create communications, delivery, and exchange of offerings that are valuable to the clients, customers, partners, and society. Businesses do marketing to create value for customers and establish strong relationships in order to capture value from clients. Depending on business marketing, intend to create value for either long term or short- term targets in relation to building brands of companies or organizations. The major strategy for marketing underpinned in the need to enhance sales, business communications and develop the entity.
The major root of marketing is the identification of the customer, offer customer satisfaction, and keep the customer. A successful marketing strategy has a shift from production to the perceived needs of the customers ensuring the business stays profitable. The concept of effective marketing requires knowledge of the target market and their desires. This is hard to meet when dealing with international markets due to the difference in market environments. The business has to anticipate the needs and preferences of the market ensuring they provide better products than their competitors do.
This will enable businesses to meet the target of marketing in a manner that is sustainable and favorable to management (Thesis, 2005). Operating business at an international level is not a new factor in the world of trade. Worlds large companies like Microsoft and Coca-Cola have had a successful international presence in profits and customer base. This is because of high-quality products and largely to massive and effective marketing of their products in a manner that does not infringe on their profitability.
There has been advancement in technology and communication making the international business market to be volatile and subject to changes. The changes lead to a great shift in market holdings and competition complexities. In the past 50 years, the international business was not facing a lot of difficulty in recruiting and establishing presence because communication was not very high to support the flow of information. Presently the business world has many obstacles to monopoly due to technology hence the flow of information makes clients have a lot of options due to digital marketing.
Technology has enabled competitors to be able to respond fast to issues of competition. The-purchasing patterns of customers have also changed with new trends taking up. The invention of online shopping and trading has brought a lot of marketing shift for international business suppliers and operators. Customers prefer greater convenience and more choices (Hanke, 1998). Scope and challenges of international marketing
Castro, J. (2010). Political and Economic FactorsAffecting International Business. Managing International Financial Risks . http://www.dpcdsb.org/NR/rdonlyres/0535EFD9 639D-4D95 B7AA-461E34742340/68683/Chapter_94_NOTES1.pdf
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Hanke, B. (1998). Industrial Restructuring and Industrial Relationship in European Car Industry.https://studentservices.ebsglobal.net/studentserviceopen/synopsis/pdfs/h17ik ik-a3-1 2009.pdf
Thesis. (2005). factors Affecting Sales of Automobiles in Europe. Nottingham City: University of Nottingham Business School. http://www.grin.com/en/e book/111658/factors-affecting-sales-of-the-automotive-industry-in-europe