A Key Challenge for International Marketers Is to Develop a Good Understanding of the International Business Environment. Identify the Key Environmental Actors That Are of Importance to the Success of International

Rapid globalization and technological advancement has made the business environment more complex than before. Firms are therefore forced to understand and adapt to the environment they operate in to successfully retain their competitiveness. Such environmental factors are either internal or external and include the economic aspects, political framework, socio-cultural aspects, technological business ethics, management, corporate culture and legal aspects. These factors determine the location, nature, personnel policies, distribution systems and prices the firm is to charge for its products. It is therefore important for businesses to understand the environment they operate to avoid going bust.

The environment in which a company finds itself has been a factor in a firm’s strategy, because of access to raw materials. The environment in which a company operates can make and break the company at the same time. Environmental factors are evaluated on the footprint left behind by a firm on its respective surroundings. It is important that every individual or management considers the environment in which they intend to set up a business.

Language plays a key role in communication in any society, culture and organization. This medium of social interaction is universal and has been passed down for centuries as a legacy. Therefore, it is imperative that the purity of the language is kept within each framework of heritage. Culture also plays a very important role in the evolution of language. It is the foundation of social engagement and personal commitment. Verbal and non-verbal communication can help define the way in which intercultural communication is conducted, and is of significance as it allows for individuals to learn the differences that exist in the language of various cultures. Communication of any magnitude, if fully achieved can be one of the most rewarding experiences, since by learning the language one becomes familiar with the culture.

What environmental factors will affect the marketing mix in your business Ans. Environmental factors that can affect the marketing mix in any business include cultural factors, technological factors, demographic factors, government factors and economic factors.

Entry mode is not the only component to be deliberated when entering another country. Domestic and international markets can be the same or different which makes it a challenging marketing task. This defines how the corporation will compete with other corporations and operate within the market.

Environmental factors have to be considered to determine how they may influence the mission. The four external environmental factors that help organizations achieve optimal function are economic, sociological, political, and technological.

Additionally, even if certain cultures or individuals don’t speak the English language, many people have adapted specific English words into their vocabulary or into their daily lives. For example, Bryson mentions that in Yugoslavia they have “STOP” signs, but the word “stop” does not actually exist in their language. Products made in other countries often have English words, or sayings that are meant to attract customers such as the Mr. Friendly Quality eraser from Japan that Bryson discusses, which states “ Mr. Friendly has arrived! He always stay near you, and steals in your mind to lead to a good situation” (180). Also, many countries that are not native in the English language tend to attempt to create pamphlets, signs, or brochures in “fine English,” however; these products end up being incomprehensible because these people aren’t familiar with the language. Instead, these publicists understand the widespread usage of English across multiple nations, so they are attempting to attract as many people as they can. Bryson took an excerpt of an Italian brochure that was written with “fine English,” but it said “The integrity and thus the vitality of Urbino is no chance, but a conservation due to the factors constituted in all probability by the approximate framework of the unity of country,” which English

When moving into international markets, it is crucial to investigate the major types of difficulties that can arise in other countries. Businesses experience setbacks or failure when they attempt to move into international markets. The major components that contribute to lack of success include errors in pricing, distribution, market analysis, or packaging, but may also result from an insufficient understanding of the infrastructure and culture of the trading nation.

Multinational Business Organizations control in various difficult domestic and global environment. Several factors influence the marketing environments that are not under control of organization. Business environment of the company is divided into two groups: The Specific and The General Environment.

Language is an overlooked topic that not many people address, seeing that it has affected most of us in oblivious ways. Our languages have created standards, barriers, principles, concepts and misconceptions that have molded us to become societies living under differences that have become naturally accepted. The many ways that language has affected us have come from our own personal backgrounds as well as deriving from socially accepted standards that have been set over time. The different ways language has structured us become evident in regards to religion, culture, ethnicity, consciousness and gender. In this, problems have arised that are mostly ignored and disregarded even with solutions presented.

The process of globalization has important effects on companies' strategies. These effects mostly refer to their marketing strategies that must be adapted to the increasing competition in most industries, and to the challenges of the business environment. In order to improve their position on the market, some of these companies prefer to expand their business on international level. This means they develop global and domestic marketing strategies.

Identify and determine the impact of the following environmental factors on the business: economic, political, demographic, products and technology, market and competition.

Marketing is nothing but the process to sell the product to the consumers in order to satisfy customers’ needs and to obtain profits. In today’s competitive environment, there is a necessity for many companies to be globalized, to remain in this competitive market and satisfy customer’s needs across the world.

There are both internal and external environmental factors that affect a business’s long term objectives and strategies. A learn must understand these components in order to ensure success and sustainability. The following essay will discuss how these factors influence or impact a business.

The importance of “Marketing” as a concept, a practice and an orientation as being fundamental to the competitiveness and the survival of any business entity cannot be over emphasis in today’s business environment. (Kotler, 2011). Most businesses are expanding and getting into new market areas for economic and strategic reasons and it is becoming increasingly difficult, if not possible, for companies to insulate themselves from the effect of international marketing environment, even if their products are designed for purely local environment.