Question

There are a number of differences and challenges when a company looks at marketing domestically and internationally. Pick a country (not the United States) and share what country you have selected. Discuss the differences and challenges of marketing in that country when compared with the U.S. What things should a company take into consideration when developing marketing plans internationally? Areas of focus in your post may include:

• the customers: Are the customers the same?
• human resources
• currencies, governments and rules and regulations
• different customs, etiquette, etc.
• advertising issues and resources
• language differences

You must use a minimum of three scholarly resources, cited with parenthetical APA style citations in the body, and referenced at the bottom with APA style references.

Answer 1

Country selected - INDIA

Discuss the differences and challenges of marketing in that country when compared to the U.S.

When you are working towards a product or service development you will also consider the target market. When your business activities are designed to operate and deliver your product or services in more than one country than it is called an international market or else domestic if only one country is considered.

It is crucial to note that for any of the markets the purpose of business would be the same though the strategy and action plan might change. Every business working towards globalization need to assure some early action plan fulfilled which are –

• They need to reach out to their potential customers
• To deliver product or services at affordable rates
• To earn profit for their offered business product or services

DIFFERENCES AND CHALLENGES IN INDIA –

• To reach out to potential customers the company needs advertisements and promotions in order to let people know their offerings and presence. One such platform is digital media, which is one of the topmost challenges for a business to spread in INDIA as compared to the US. The number of internet users for two countries has a wide gap, which makes it quite difficult for a business to spread their wings.
• Technology-driven mindset is the need of the moment, possibilities of creating an enhanced advertisement is possible but to have access to such technology in INDIA is so far still debatable. A huge section of the Indian population lives in remote areas who do not even bother to worry about any technology or advertisement. A company has to look for some ways to penetrate deep in the Indian society.
• With Hindi and English as two official languages of India and more than 19,500 (state plus tribal) languages overall, it seems that India is flooded with variety in terms of languages. A business has to consider this barrier and has to prepare in terms of advertisements and strategy for successful establishment. With varying languages also vary the taste and preferences of the people, a business entity has to consider this barrier before making its presence in INDIA.
• To find the right legal structure and shareholding pattern in INDIA is again something to plan well in advance. This should be done with the utmost care, and a trusted legal advisory machinery is a must to select. Trustful advice is important who can guide and provide necessary details on legal patters and related to tax laws. By doing this a newly entered company or a company planning to start a business in INDIA can escape and avoid major challenges once the company starts earning profit and growth.
• Resources are the backbone for any business entity, so a careful analysis is mandatory. What if the analysis could go wrong or have not done while keeping all the factors considered – this is a nightmare in the Indian market, if a business somehow does this mistake they would have to face serious consequences like shortage of manpower, huge differences in demand and supply. In addition to this other resources like raw material and the rate factor mapping should be done carefully.

What things should a company take into consideration when developing marketing plans internationally?

Going global is a big step towards development and recognition and for which every step might be selected carefully, in order to attain a global position a company must perform these activities or must consider the steps mentioned below –

• Market research is the first and foremost thing to perform, for every segment and category you have to list down all the possibilities with plan B which outlines the steps to remedy if some assumptions go wrong. The better you perform to analyze the better are your chances for survival.
• Generate and maintain some specific contact list of business owners and research heads, these people know the local flavor and can guide you in time of need.
• Tax compliances change from country to country and every business has to comply with the country’s tax system. A team of lawyers, CA’s and translators are needed to overcome the situation and to clearly understand the tax structure.
• Since businesses perform to earn money, without which we cannot imaging growth. Thus, the currency factor is worth considering by the businessmen trying to navigate in new countries for business expansion.
• Genuine workforce is the backbone of a business since we know that the business is not going to be controlled by robots rather humans. From selection to hiring and from training to the payment every aspect of this must be carefully performed.
• In addition to these factors like shipping requirements and logistics, transportation is worth considering for a new business entrant in a new country.

Resources –

• Symbiosis, Pune
• Chad Brooks
• Virendra Mohan Johari – Indian Market 2020, challenges and strategies