Marketing Impact on Businesses

Environmental Factors

Global and domestic marketing has expanded very rapidly during the last fifteen years in my organization. In the 90's when my company was in a climate of low economic growth, the company saw international markets as a potential vehicle for profit growth. Global and domestic marketing is becoming of ever-greater importance to more and more company and organizations around the world.

However, global and domestic marketing is complex because overseas markets are usually different in significant ways from the home market because it is more difficult for managers to understand, and learn about markets in other countries. How did my organization plan to become more aware of external environmental factors that are present in global marketing? One way is to become more aware of external environmental factors that are present in global marketing. Such factors as political, cultural, and business ethics should be analyzed companies when formulating a global marketing strategy. An effective marketing strategy will help the business determine the basis for all marketing efforts and provide a blueprint for accomplishing goals and objectives.

One of the most controlling factors of international marketing is management. It is very important for managers to recognize the differences as well as similarities in buyer behavior. Many mistakes can occur if managers fail to realize that buyers differ from country to country. In Hawaii this is also recognized domestically since buyers from all over the world visits and buys local products in Hawaii. It is the international differences in buyer behavior, rather than similarities, which cause problems in successful international marketing.

An international marketing manager is responsible for facilitating the exchange of products between the organization and its customers or clients. The organization must fully understand the foreign environment before pursuing business matters. To be sure avoidable situations do not occur, marketing managers must be aware of cultural differences. In many ways doing business in Hawaii does give my organization an advantage both international and domestically. Since Hawaii is a hub for business and the community is much diversified in cultural differences, which gives organizations like mine an advantage when dealing with other cultures and businesses.

As to the product market that my organization has in Hawaii it is basically marketed more for the tourist market than the local market. It is important to understand that even if local customers can afford a certain product; they may not always want it.