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Marketing Assignment Help- International Economic and Cultural
1. Economic and cultural elements of the international
marketing environment and how these factors affect
marketing operations.
2. To enter in a foreign market, firms are required to
review the economic and cultural elements of that
country because these may affect the demand and
business of them.
The stage of business cycle, inflation and deflation,
unemployment, income and resource availability are
important for marketers because these economic
elements influence willingness of customers to buy the
products and services that change the perception of
them regarding the marketing mix
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3. Changes in customers’ preferences, choices and tastes
impact on the demand of product. It can reduce the
sales and revenue of firms that impact on
consequently on marketing operations
If the nature of economy is stable and high
competition in available in market then it may be
difficult for businesses to advertise and attract new
customers.
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4. Consumers in developing economics will not be
willing to pay more for a product in compare to
developed economy that affects the marketing
operations of firms
Cultural differences between the nations affect the
marketing operation of international firms. Different
elements of culture such as language, values, attitudes,
belief, ethics, religion, education level, and tradition,
etc have significant influence over marketing activities
of a firm
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5. The international marketing manager must be aware
about the cultural differences in the countries for
effective marketing activities.
For example, a firm using yellow background to
market product or its logo is acceptable in US, but it is
not acceptable in Mexico because in this country, it is
the symbol of death and disrespect.
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6. It is important for marketing manager to understand
the language used by people in its target market
Language differences changes the meaning of
advertising and messages that can create the
misunderstanding the customers and affect the
impression of company
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