Marketing And Communication Information And Decision Making

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.

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

External offers or findings from different market research tend firms to think in match that external offer or the natural propose of the market and thus, incur in early stages of internationalisation. (Ghauri 2000).

What are some factors companies (and your learning team) need to consider before attempting to enter foreign markets? Assuming you were setting up a market program for a product in a foreign country (and you are), what should you take into consideration? Assume you are developing an advertising strategy for the promotion of a new product (and you are). What are some things you should consider?

List and describe at least three factors that a firm should consider when making an outsourcing decision.

Conditions have changed. Global trade has rapidly increased in both volume and value, reaching nowadays more than $4 trillion in 1997 (Daniels J.D., Radebaugh, 1998, pg. 529). Competition is fierce from all corners of the world. Failure at the global level can backfire and may consume existing brands and business relationships. At the same time, global opportunities have emerged that offer possibilities for growth, profit, and an improvement in worldwide standards of living.

1. Emerging market is a financial market of a developing country, usually a small market with a short operating history.

an emerging market country can be defined as a society transitioning from a dictatorship to a free market-oriented economy, with increasing economic freedom, gradual integration within the global marketplace, an expanding middle class, improving standards of living and social stability and tolerance, as well as an increase in cooperation with multilateral institutions (Kvint 2008, online).

Today’s Global economy is governed by a delicate balance of variables. The addition of a new economy to the global market affects all of the pre-existing variables, bringing with it a host challenges and opportunities. Much like an initial public offering, countries may “buy -in” or develop economic agreements with the emerging market economy (EME). This often results in the country “buying-in” to the emerging economy, getting services or products at a discounted rate, while the emerging economy gets business like China and the United States. These types of agreement may result in the poorer country sacrificing its citizens’ well being, to ramp up for economic growth, like China. In the end most countries economies are interconnected for example with the United States-Canada relationship. If one country’s economy were to collapse there would be strongly adverse effects on the

Over the years the global economy has seen a rise in so called ‘emerging markets’. These are developing economies which have exceeded economic performance in respect to their developing counterparts. These economies are newly industrialized and are on their way to becoming developed economies but have not yet reached that status. The more common and likely heard developing economies consists of BRIC (Brazil, Russia, India, and China) followed by Mexico, South Korea, Turkey, Saudi Arabia, and Indonesia. Developed nations (MEDC) include the westernised countries such as the U.S, the U.K and Japan. In 1999, Dr. Kvint published this definition: "Emerging market country is a society transitioning from a dictatorship to a free-market-oriented-economy, with increasing economic freedom, gradual integration with the Global Marketplace and with other members of the GEM (Global Emerging Market), an expanding middle class, improving standards of living, social stability and tolerance, as well as an increase in cooperation with multilateral institutions" This essay will locate the common characteristics that emerging markets share.

Marketing research should be carried out to gain customer insight. This is key in evidencing Poland as a suitable market for entry. Without a potential market there will not be any sales, it is therefore important that the market is defined correctly before capital and resource investment.

A comprehensive market research allows you to systematically manage business opportunities. Our team will develop these researches in different countries for you based on a quantitative analysis of trade history, potential costs, competitors, customer profiles and local government policies. This analysis will allow you fully understand the prospects of target markets and ensure your sales force uses its limited resources for the most profitable effect.

After sifting through the leads and finding the right ones to investigate management must formulate an international marketing plan. This further helps management in locating potential markets for their products. The first step is to use secondary research to find out what the sales potential is in a given market. Asking the questions of need, demand, and support gives one a starting point for research. If we were a company that sold pants we might want to ask the following questions. Is there a need for pants? Is it cold enough there to wear pants? Do people that demand the pants have money? These are the questions that one should ask of potential markets. Table 1-located at the end of the paper-shows the statistics that are needed for a general market picture. After gathering the information from the secondary research, the picture of a potential market becomes more evident. However, to make the picture clearer, one must conduct primary research. This research outlines the specifics of the potential market that directly pertain to the product. Robert Douglas' book, Penetrating the International Market, addresses the issue of locating potential markets in greater detail.2

Companies can decide to go global or to enter international markets for various reasons, and these different objectives at the time of entry that enable the business to produce different strategies and the performance goals, and even forms of market participation.

International Marketing and Trade Research follows the very same path as domestic research, only that there are a few more problems that can arise when entering the international market. Customers in international markets may have very different customs, cultures, and expectations from the same company than those in their own mother country. In this case, secondary information must be collected from each separate country and then combined, or compared. This is a time consuming process and can be confusing but is it beyond the capabilities of the small Irish exporter?