technological environment in international marketing

There are many strategic analysis tools (PEST, SWOT, Porter's 5 Forces) to assess these macro environmental factors. It includes telephones, the internet, computer A way of classifying the economic growth of countries is to divide them into three groups: (a) industrialized, (b) developing, and (c) less-developed nations. (10): Julia Flunn and R A. Melcher, Heinekens Battle to Stay Top Bottle, Business Week, August 1, 1998, pp. Some other companies have used the power of Internet to create virtual design teams. For example, in Egypt, the countrys national color ofgreen is considered unacceptable for packaging, because religious leaders once wore it. The international marketing environment includes concern for: The creation of the single European market in 1992 was expected to change the way marketing is done worldwide. Here are several examples of foreignbusiness behavior that differ from US business behavior: In France, wholesalers do not like to promote products. Often local firms will adopt imitation strategies,sometimes successfully. communication. Most Internet cafes are about the coffee with computers on theside. A segment of just one customer may finally be becoming a reality. However, there are some differences,many of which are centered on environmental factors which affect international marketing: (a) the economicenvironment, (b) the competitive environment, (c) the cultural environment, (d) the political/legal environment,and (e) technological environment and the ethical environment. Pepsodent toothpaste was unsuccessful in Southeast Asia because it promised white teeth to a culture where black or yellow teeth are symbols of prestige. In Italy, salespeople call on women only if their husbands are at home. With every new so called 'flagship' phone, Samsung has to introduce new features in their software that furthers improves the users . Which of the following types of information is the organization most likely to be interested in if it gathers information related to ecology, safety, and leisure time and their potential impacts on the division's business? One of the potentially interesting results of trade agreements like ASEAN or NAFTA is that many products previously restricted by dumping laws, laws designed to keep out foreign products, would be allowed to be marketed. 2. International marketing environment consists of global forces, such as economic, social, cultural, legal, and . These constitute the natural environment. Women do not participatein household buying decisions in countries in which religion serves as opposition to womens rights movements. Italians wave goodbye as Americans beckon someonewith palm up and fingers moving back and forth; but inAsia, waving with the palm down is not interpreted as goodbye, but rather, come here. Privacy Policy 8. One invention in a place leads to a series . Advances in information technology has made it possible to plan truly global supply chains, in which manufacturing and warehousing are distributed throughout the world depending on where these activities can be performed best. Their purchasing patterns are also changing. Ninth As entrepreneurs come with innovative ideas of business and they give competition to the already established businesses, which impacts the sales of their products. What is International Marketing - Major Decisions: Looking at the Global Marketing Environment, Deciding Whether to go Abroad and a Few Others . 52-55; Eileen P. Moran, Include Overseas Markets the Right Way. Marketing News. Verbal and Statistical Correspondence". b. the political/legal environment Customers live in societies. Asia, Europe, and The Americas headings, you will find information specific to these regions. research hypotheses in," Journal of Marketing. 13) Innovation. 14-15. Kidnappings, terrorist threats and other forms of violence targeted against foreign firms or foreigners. Today people lead multiple lifestyles. Natural resources: Business firms depend on natural resources. Americans seem to be fanatical about time when compared to other cultures. Cavusgil, and S. Zou "Marketing strategy- performance Therefore when evaluating new technologies, companies should ask two questions what new products and services can be produced by using these technologies, and how the technologies can be used to run businesses better? General Motors Body by Fisher slogan became Corpse by Fisher when translated into Japanese. 53-55; Erica Rasmusson, Global Warning, Sales and Marketing Management, Nov. 2000, p. 17. Competitive. Every culture has a social structure, but some seem less widely defined than others. Americans spend large amounts of money on soap, deodorant, and mouthwash because of the valueplaced on personal cleanliness. 70-79. The relationship between marketing strategy and performance has been well documented in the domestic marketing context. Societies and businesses have become competitive within themselves. A firm has five basic foreign market entry options, the selection of which depends largely on the degree of control that the firms wishes to maintain over its marketing program. Further, the word 'technology' is usually associated with technique and equipment. One of the fundamental steps that needs to be taken prior to beginning international marketing is the environmental analysis. The developing nations, on the other hand, have growing population bases, and although they currently import limited goods and services, the long-run potential for growth in these nations exists. Studies. The Technological Environment. EasyRentacar.com is the worlds first Internet-only rent-a-car company, he adds. Malcolm McDonald provides a useful summary of the impact of technology on marketing. It gleans valuable information about its customers from the interactions it has with them. There is no stereotype lifestyle. distribution, including strength in supply chain, number of outlets; When they are successful, their own nations economy receives a good boost. Foreigners should politely take their leave. The organization is compromised of 10 independent member nations, including Indonesia, Malaysia,Thailand, and the Philippines. Vol 14 (3), pp. All Rights Reserved. (21): Dom DelPrete, Winning Strategies Lead to Global Marketing Success, Marketing News, August 18, 1997 pp. (e) handling the value-added tax (VAT) However, universal implementation of these standards is scheduled for 2020. As working womens earnings grow, so do their expertise, experience and authority. Technological Environment means the development in the field of technology which affects business by new inventions of productions and other improvements in techniques to perform the business work. Lack of data processing facilities makes the tasks of planning, implementing, and controlling marketing strategy more difficult. Technological Environment Marketing dictionary Technological Environment that part of the firm's external environment in which changes in technology affect the firm's marketing effort; the changing technological environment may pose threats or present opportunities. US companies tend not to assess what the market will be willing to pay. (2): Theodore Levitt. 12 (3), pp. After deducting the required profit margin from the selling price, planners developestimates of each element that make up the products cost: engineering, manufacturing sales, and marketing. Unisys Corporation's planning steps for international marketing research calls for collecting and assessing various types of information. the registration and enforcement of trademarks, brand names, and labeling Customers who are constrained for time are likely to favour small shops over large ones, spend less time comparing prices, use technology to reduce transaction time, and patronize businesses that help them save time and make their life easier. The growth in the number of working women means an increase in dual-income families. 1.3. EasyJet.com bills itself as the Webs favorite airline and markets itself as it discount airline with steep incentives for buyers to transact online. The members of the team are experts in different technologies and they are stationed in different locations. (d) Technological Environment : Technology and its transfer have become the key factors in the international business decisions. Marketers must assess macro factors for developing sound marketing strategy. These forces make up a company's external marketing environment, which, as you can see in Figure 9.14 "The Marketing Environment", we can divide into five sets of factors: Political and regulatory. variables. namely standardization approach, adaptation approach and middleof- Marketers in developed nations cannot take many technological advancesfor granted. Also investigates standardization of the finer aspects of the marketing, This article examines a comprehensive list of environmental conditions that affect the decision to standardize, as well as the relationship of strategy standardization and planning with static, The authors address a key controversy in the marketing literature about the suitability of global standardization. Cavusgil "Export marketing strategies in the Maxwell House advertised itself as the great American coffee in Germany. C..S Katsikeas, S. Samiee, and M. Theodousiou "Strategy fit and It meant the birth of a market that was larger than the United States, and the introduction of European Currency Units (Euros) in place of the individual currencies of member nations. Exporting, the preferred mode of internationalization of smaller firms, has become, The growth of exports originating from Brazil has garnered substantial interest, much of which has focused upon the changing composition of the exports. That is, it is more difficult tomove upward in a social structure that is rigid. The social factor of the environment is known as demographics the people that are described based on their ethnicity, age . A nations economic situation represents its current and potential capacity to produce goods and services. The study also tends to find out how the advancement in global technology affects entrepreneurial . 3. Vol 27 (9), pp. Robots present labor cost reduction (Appendix 3), increase . (d) shipping across borders in Europe 23- Even a common language does not guarantee similarity of interpretation. Oktober 2022 . The internal environment of an organization is within the control of the marketer, and he can change or modify the environment as per the demand in the market and requirement of the business. Perhaps the most attractive reasons are the market expansion and profit opportunities afforded by foreign markets. There are, however, some governments that openly oppose free trade. 2.3 The International Marketing Environment Copyright 2017 by Babu John Mariadoss. Failure to consider cultural differences is one of the primary reasons for marketing failures overseas. pp. Companies which arrange holiday trips or provide leisure activities will have to provide something substantial for each member of the family. More working women have meant an increasing demand for time-saving devices and products, particularly for the kitchen. The exchange rate of a particular nations currency represents the value of that currency in relation to that ofanother country. Life experience is an important factor in womens independence in long-term planning and decision making. Borders seem to be more symbolic now than they . 26, No.3, 1992. Use the CountryNews menu to select the specific countries discussed and to look for additional information aboutthe articles you have chosen. zsomer, A. Bodur, and S.T. Similarly, in India, the Hindu religion forbids the consumption of beef, and fast-foodrestaurants such as McDonalds and Burger King would encounter tremendous difficulties without productmodification. Organizations must understand the variousenvironmental factors affecting international marketing to determine whether a standardized orcustomized marketing mix will be the best strategy. The importance of language differences cannot be overemphasized, as there are almost 3,000 languages in the world. Possible drivers tha t force companies to enter international markets include increasing c ompetition at the domestic market, maturing domestic markets, and lim ited domestic market opportunities. Under the While the concept of exchange rates appears relatively simple, these rates fluctuate widely and often, thus creating high risks for exporters and importers. External factors, called macro-environment factors, can be divided into six major groups- legal forces, socio-cultural forces, competitive forces, demographic, economic, and technological forces. Still, the challenges of European Internet marketing are legion. The external factors include government, technological . Business owners who stay ahead of the curve might even find new heights of marketing success. In Hong Kong, Korea, and Taiwan, triangular shapes have a negative connotation. Amine, L.S. Strategic Management Journal . The majority of cattle in Switzerland is used for milk production and not meat production. However, entering international markets poses risks and valid reasons to avoid entering these markets. An economys ability to generate wealth will be largely dependent on the speed and effectiveness with which they invent and adopt machines that improve their productivity. He also plans to start easyMoney.com, offering discount mortgages online. There are following technological environment factors which affects business. They are choosing products and services that meet diverse needs and interests rather than conforming to traditional stereotypes. The buyer will expect the same competitiveness from companies. Product designers and engineers are then directed to meet the cost target. domestic market, maturing domestic markets, and limited domestic In these times there is always a new invention or better technology around the corner. Some would call it the coordination of marketing strategies by a company that are necessary to sell goods or services in a foreign marketplace. Open Access. marketing strategy comprehensiveness", Journal of Marketing Vol. International markets offer organizations market expansion and profit opportunities. America had to relinquish manufacturing as other nations were able to manufacture high quality products at lesser prices. With new technologies such as multilingual processing programs, it would be possible to target potential customers anywhere in Europe, in any language, and in the same marketing campaign. However, on 1 January 1999, 11 of the 15 member nations took a significant step toward unification by adopting the Euro as the common currency. An individuals values arise from his/her moral or religious beliefs and are learned through experiences. This car was very popular in the United States, but when they tried to sell them in Spanish speaking countries, they seemed to have problems because NO VA means no go so they thought the car would not move. She believed the font simply looked more appealing to the consumer they were aiming to attract. The environments for international marketing include the political-legal, economic, social-cultural and technological environments; also known as PEST Analysis (Bogozzi, 1991). International marketing environment is a set of controllable (internal) and uncontrollable (external) forces or factors that affect international marketing. Technology is an important dr iving factor in shaping international marketing strategy as well as in driving force towards a more global marketplace, especially techn ology in communication. Once a firm has decided to enter a particular foreign market, it must decide upon the best way to enter that market. Language differences cause many problems for marketers in designing advertising campaigns and product labels. Among the many complexities facing pan-European websites are the following: (a) developing a site for multiple languages Their strategies will be affected however. It is important to stress that there is a needfor realism in this, as only too frequently corporate plans are determined more by the desire for short-termcredibility with shareholders than with the likelihood that they will be achieved. International Marketing Review Vol. Economies will need to excel in both basic and applied research. In German, Let Hertz Put You in the Drivers Seat means Let Hertz Make You a Chauffeur. Most women are not leaving important marketplace decisions to others. In this article, we cover the topic of international marketing and explore 1) an introduction to international marketing, 2) factors to consider for international marketing and 3) a conclusion. Technology means both innovations and inventions. Technology is expected by many to solve the global problems (generation of renewable energy, better use of resources) and international marketing is at the heart of such initiatives. The decision depends on situations and factors facing the companies All multinational firms face the risk of expropriation. It includes telephones, Abstract Indian manufacturing enterprises (IMEs) are undergoing a phase of transformation. In Japan, business people have mastered the tactic of silence in negotiations. For example, for the gourmet, marketers will offer cooking utensils, wines and exotic foods. Marketing, Vol. [17] M. Theodosiou and L.C. There are many other ways in which technologies like Internet are impacting businesses. performance consequences of international marketing standardization," May-June 1983, pp. (1): Isobel Doole, Robin Lowe, and Chris Phillips, International Marketing Strategy, International Thompson Business Press: London, 1999, pp. When a nation is politically unstable, multinational firms can still conduct business profitably. International Marketing AT BANZON 4 1999. The cultural environment consists of the influence of religious, family, educational, and social systems in the marketing system. IMPACT OF NATURAL AND TECHNOLOGICAL ENVIRONMENT ON MARKETING Natural Environment The analysis of the mega environment must also cover aspects like extent of endowment of natural resources in the country, ecology, climate, etc. Entering an international market is similar to doing so in a domestic market, in that a firm seeks to gain adifferential advantage by investing resources in that market. How Macro Environment Factors affect Business. International Environment Reduce business costs Companies also use new technologies to do business differently and more effectively. The practice of dumping involves a company selling products in overseas markets at very low prices, oneintention being to steal business from local competitors. Developing nations are those that are making the transition from economies based on agricultural and raw materials production to industrial economies. Economies which are well off should concentrate more on basic research because they can remain ahead of other economies only by creating new businesses through inventing new technologies by basic research. An individual is dependent on the society he resides in. Without marketing, it's impossible to grow a business. 141- 60-62. Cultural factors Culture is crucial when it comes to understanding the needs and behaviors of an individual. Technological change can involve: - New process of production: new ways of doing things which rises productivity of factor inputs, as with use of robotics in car assembly techniques which has dramatically raised output per assembly . d. the economic environment Other countries use different colors for different values of currency but the U.S uses the same color for all denominations. In Thailand, it is considered unacceptable to touch a persons head, or pass something over it. Possible drivers that force companies 14 (2), pp. Here you will find a Others use a standardized marketing mix. A common market provides for harmonious fiscal and monetary policies while free trade areas and customs unions do not. This desire for close physical proximity causesAmerican businesspeople to back away from the constantly forward-moving South Americans. Currency Converter as well as travel related business articles. They are mainly interested in supplying retailerswith the products they need. Innovation has both positive and negative impact of the economic environment. Intelligence - informed strategy. Marketers who intend to market their products overseas may be very sensitive to foreign cultures. This can be a nightmare for marketers. France is one of the most technologically advanced countries in the world. Understand the factors constituting the international environment. Types of Technology Internal environment. 58 (1), pp. Table 6 provides some illustrations of cultural difference around the world. The cultural, political, and technological environments act as determinant factors in entrepreneurial success in global markets. [16] M. De Luz. The first step involves an analysis of the international marketing environment (Macro Environment) through a PEST/STEP analysis. international strategy, and export performance: a structural model 98-101 Michael Krauss, Europe Forges Ahead with Web Innovations, Marketing News, August 14, 2000, p. 8; (23): Suzanne Bedlake, Birth of a Global Brand, Ad Age International, March 1997, p. 126; Rainer Hengst, Plotting Your Global Strategy. Direct Marketing, August 2000, pp. The Interactive Journal provides extensive information about world business. New inventions to produce the products. In simple terms, international marketing means making decisions for your marketing mix based on potential markets outside of your company's home market. The forces of supply and demand set others. economic performance: an examination of method convergence," (11): Warren J. Keegan, Conceptual Framework for Multinational Marketing, Columbia Journal of World Business, Vol. It changes very fast. The word 'International Marketing' is defined as the exchange of goods and services across national borders to meet the requirements of the customers. the 1980s: a dynamic model," Journal of International Business c. the technological environment More employers will have to offer time off as an incentive. In anticipation of its restaurant openings, McDonalds conducted extensive marketresearch, site selection studies, and developed a relationship with Indias largest chicken supplier. The growth of dual-income families has resulted in increased purchasing power. Leonidou "Standardization versus adaptation These nations do not usually try to strictly regulate imports or discriminate against foreign-based firms. Still, with 14 different languages and distinctive national customs, it is unlikely that the European Union (EU) will ever become the United States of Europe. Knowing little tips like this can help companies from having business deals fall through. Therefore, marketing alcohol would not only result in lower sales but also may get the company in trouble with the people in the country who may be severely offended that alcohol is being marketed in a positive light. Direct interference in a foreign company's business - expropriation, confiscation, nationalization 2. Those technological factors which impact the business operation are called technological environment. Vol. The study being descriptive and historical relied heavily on secondary sources of information. pp. The process adopted for determining long-term and short-term objectives is important and varies significantly,depending on the size of the business, the nature of the market and the abilities and motivation of managers indifferent markets. Currently we are seeing new products and services being developed by emerging technologies like internet, mobile connectivity, nanotechnology, genetic engineering, etc. The marketing environment refers to all internal and external factors, which directly or indirectly influence the organization's decisions related to marketing activities. 25 (12),pp. Verffentlicht am 31. There are three main marketing strategy choices, namely standardization approach, adaptation approach and middleof- the-road approach that companies implement to overseas markets. A value is a strongly held and enduring belief. 423-444, 1986. If companies are going to sell their products internationally, they need to think about what their name means in the countries where they want to sell them. Social factors include attitudes, values and lifestyles of people. 107-123, 1997. 50-64, 1991. It is being discovered that cost is more prominent in decisions made by women, whereas quality is relatively more important to men. e. the competitive environment. performance for Brazil-based manufacturer" Journal of Global Academy of Management In Asia, when a person bows to you, bow your head forward equal or lower than theirs. Providing the right amount of tools that are having a technological advantage is helpful in increasing the productivity factors. For example, foreign governments can intervene in marketing programs in the following ways: Customers themselves are part of organizations which are trying hard to become customer oriented. [20] N. Venkatraman. It has become extremely difficult to categorize a person and expect that he is a potential customer for certain products and services, and not a potential customer for some other products and customers. Understand the factors constituting the international environment. Lets briefly look at some factors that make up a PEST analysis and how to adapt them for a foreign country. Women are making major economic decisions either independently or equally with their spouse. Many of these facilities end up as private rather than government organizations. Lifestyle is a mode of living, i.e., it is the way people decide to live their lives. The chief characteristics of the technological environment are mentioned below: It is an element of indirect action or macro-environment. When a relatively primitive (traditional) technology is used in the production process, the technology is usually referred to as labour- intensive. Married women over the age of fifty are more likely to make decisions on their own than their younger counterparts. [15] G. Nakos, K.D. Multiple lifestyles have evolved because people can choose from a growing number of products and services, and most have the money to exercise more options. 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Which shape policies, programmes and strategies of an individual is dependent on the FrontSection, select from Opposition to womens rights movements comprehensiveness '', European Journal of marketing Vol hypotheses in, Journal! Erica Rasmusson, global Warning, sales and marketing Management, Nov. 8 1999! Spent doing things they do not say Merci ( Thanks ) to a.! Labor and capital purchasing power a French persons compliment options for entry into the foreign government takes ownership plants Take less because nobody takes less from him live the way they different! 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