A Critical Analysis Of International Markets

International marketing or business is uniquely different from the local market because the product price, place and promotion is vastly different from what is been offered to local customers (Johansson, 2000) With the emergence of the information technology, cross border marketing has never been a distant dream. However, it has never been easier even for giant multinational companies to face challenges that come in international business. The biggest challenge comes from the culture which varies from country to country.

In a time of global commerce, new business ventures can take on many forms. What used to be local or even national companies have become world-wide. International growth of a business can be extremely beneficial but is not without its challenges. Different countries have different peoples and different cultures - different ways of doing business altogether. If a venture is to be successful, these differences must be well understood.

The foreign market must offer a location advantage that makes it profitable to produce the product in the foreign country rather than simply produce it at home and export it to the foreign market. It includes resource endowments, economic and social factors, such as market size and structure, prospects for market growth and the degree of development, labour and input materials costs, the cultural, legal, political and institutional environment, government legislation and policies

Theodore Levitt is often considered to be the first to recognize the trend towards globalization and states that: “companies must learn to operate as if the world were one large market – ignoring superficial regional and national differences…” In addition, he argues that the companies that do not adapt to the new global realities will become the victims of those that do.

Global markets vary about their level of development. Also, the kind of products sold in each of these markets will differ depending on the degree of development. Language and cultural affinity are vital in global markets. Culture comprises everything from the way of thinking and doing business to the consumption arrangements of the people. Therefore, understanding the culture is essential as it accords clues on how to do business in such nations. In some countries, there exists a natural hostility to foreigners as well as foreign business. Also, culture commands the approach to dealing. For instance, in the United States as well as Western nations, they are approaching in communicating their lack of ability to accept the products, whereas, in the eastern nations, they are more circumspect (Havaldar, 2014). Aspects including punctuality, the procedures as well as civilities in carrying out business, the negotiation course, and even dressing differ from culture to culture, and these aspects should be understood to succeed in such a setting. One different between the western and eastern nations is that the countries of the east tend to be punctual an aspect that can be

There are significant cultural differences between Japan and the United Kingdom that need to be taken into account when doing international business. There are also a number of methods and systems by which these differences have been described. These include the Geert Hofstede cultural dimensions, Trompenaars seven dimensions of culture and the Globe Project's cultural dimensions. This paper will discuss these differences and similarities, and shed light as to the best approach to international business in these countries.

3. Identify and use criteria to determine suitability of the international market based on criteria included in the Marketing Plan and/or included in country profiles on the TTNQ web site. Then based on these criteria, discuss which of the 2 countries that you have researched offers the offers the best potential for TTNQ? Why? Which factors were important in making your decision?

This paper provided an opportunity to take a deeper look into the country of Japan by conducting a Global Cultural Analysis. Throughout this paper the following four research areas were explored: 1.What is the major elements and dimensions of culture in Japan? 2. How are these elements and dimensions integrated by locals conducting business in Japan? 3. How does U.S. culture and business compare with the elements and dimensions of culture integrated by the locals conducting business in Japan? 4. What are the implications for U.S. businesses that wish to conduct business with Japan?

Making business abroad can be risky, but it can also be profitable for a company as well; thus the necessity to study in deep the country where the company will bring the business to. International companies are faced with many cultural challenges, when doing business across and inside of different borders. Identifying the significant cultural issues involved when evaluating the attractiveness of a particular location as a place for doing business can be crucial for a business. Aspects to consider when studying culture in a new place

     Cultures are varying among different parts of the globe. People with different cultures have different characteristics and viewpoints on the subjects due to diverse understanding and method of learning. During the past few decades, the international trade grows in a very rapid rate due to the advantages that it provides; “increased sales, operational efficiencies, exposure to new technologies and broader consumer choices” (Heslin). Therefore, when considering the culture aspect to current business world, it is crucial for business to understand the culture aspect because of the tremendous growth of international business as well as utilize the international market to its maximum

Using appropriate theories critically analyse the role of culture in International Business. Support your answer by quoting relevant examples from the case study.

Culture and the environment affect a business in many ways. Culture is not simply a different language, a different shade of skin, or different styles of food. Culture, and the environment in which you are a part of, affect the running of day to day business operations of all companies’ day in and day out. This paper will assess how Linda Myers, from the article, “The would-be pioneer,” (Green, S., 2011) was affected by the huge culture shock of working for a global conglomerate from Seoul, South Korea. We will discuss what went wrong with Ms. Myers approach to business, Hofstede’s five dimensions of culture as it

Cultural issues different customers in the global market have different culture and this calls for a different strategy to handle their needs

Whenever a company is entering a new market it has to take into consideration the cultural differences between countries. Based on the case study analysis, the difference between the two countries in terms of eating out habits and eating preferences seem not to be understood by the Denver headquarter. Denver headquarter believes that it can enforce the same business model applied in the U.S to its stores in China, regardless of local preference. In addition, Foster seems to lack knowledge about the Chinese culture because she was not familiar with the market in China, as she had no experience working internationally. There was a lack of cross-cultural communication between Chen and Foster; even though, Chen had experienced both cultures while studying abroad in the U.S.

Based on the Model of Consumer Buying Behavior, culture is the most basic source of a consumer's wants and behavior. It lives at the foundation of a consumer's world view. Culture is mostly a learned behavior, being constructed by the society a consumer grows up in. That society "teaches" the consumer basic values, perceptions, wants and behaviors. What a consumer is "taught" can vary greatly in different parts of the world. Marketers need to remember that every group or society has a culture. Cultural influences can and will vary greatly from country to country, social group to social