Question

1. What factors influence a country’s international product strategy?

write atleast 500 words.

Answer 1

Global factors beyond the control of individual organizations, but which can affect the way companies operate, can be considered as the global factors that affect the international marketing environment. These factors include cultural and social influences, legal issues, demographics, and political conditions, as well as natural environment and technological changes.

Factors related to a country's personal affairs or internal affairs affecting the country's economy participating in the international marketing are considered as domestic factors. Those include the government's political scenario and strategy, and its attitude towards foreign trade, business ethics, infrastructure availability and efficiency, raw materials, and other technical and ecological factors. The level of involvement of government bodies at the central and state level in a country is one of the major factors that the marketing environment fate

The internal factors which influence a company's decision-making process are known as organizational factors. This include the activities, causes, people , processes, structures and conditions within the organization that are typically under the company's control. The internal environment influences the organizational activities, as well as employee attitudes and behaviour. Changes inside the organization in leadership style can also have a profound impact on the organization. The Marketing climate is rapidly evolving. Every factor is interrelated, right from the domestic, organizational, to the global level.

Culture and personality combine to shape consumer behavior in every region of the world or country in question. If you want to sell a product to a foreign country, first you need to decide if it is an individualistic society (free-thinking culture) or a hierarchical society (the peer group has the most impact on purchasing decisions). You also need to consider other factors in society and psychology that influence buying decisions in the country you are targeting to sell your goods or services to.

Age and other groups, just as they do in domestic marketing, play a key role in foreign marketing; businesses need to pay careful attention to them. Perhaps your company won't want to sell laptops to senior citizens in a third world country where there is very little internet and a significant percentage of people over 60 are computer-analphabets. This illustrates the importance of understanding age and other demographics on a potential country you may be selling your goods or services to as they are both reliable and used to make marketing decisions.

You must also take into account class structure when selling your product or service globally, as it varies widely from country to country. Most countries have an upper, middle , and lower class, but the number of people in these classes may vary greatly from one country to another. An example of this are countries like the United States that have a very large proportion of their citizens in what is known as the 'middle class,' as opposed to the Philippines where there is a very small middle class because the country consists mainly of a small percentage of upper-class people and many poor people.