PEST-C Variables; Push, Pull, and Convergence Marketing Strategies

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(1) Provide some observations on the PEST-C variables as they relate to global marketing. Global marketing is defined as marketing on a worldwide scale, or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives. Marketing managers are also tasked with the responsibility of “wringing the pennies out of the activities.” Basically, they are responsible for and add value to their activities that will contribute to a higher value in the mind of their consumers. Managers must understand the role of their salespeople as marketers – they must collaborate and support them. They must work with their supply chain functional managers to accommodate international customer preferences. Communication must flow up and down the chain quickly in order to respond to emerging international marketing threats and opportunities. It is essential to monitor the firm’s global marketing efforts in a global market. Canadian marketers must be sensitive to, and accommodate, several differences surrounding global marketing. By observing the PEST-C variables, international businesses are able to make smarter choices in their global marketing decisions. PEST-C is a common acronym for political (law), economic, societal, technological, and cultural (attributes that must be thoroughly understood and analyzed in order to succeed in the international marketplace). First, P stands for Political. Political issues must be understood because different countries have various political views. Some are under theocratic law, or common law. These differences must be realized to be successful internationally. SMEs must be aware of how the host country’s business laws and regulations that may affect... ... middle of paper ... ...ity of an international basis that I have read this week can be found at: http://www.canadianbusiness.com/markets/headline_news/article.jsp?content=b5993988 The article discusses the fact that a Canadian company known as Cenovus Energy Inc. is looking for a joint-venture deal. The article states that chief executive, Brian Ferguson, said “the Calgary-based oil company is actively looking for swap, joint-venture, farm-out, and divestiture opportunities for some of its resource base.” Cenovus is no stranger to these ventures. Its Foster Creek and Christina Lake oilsands projects are part of a joint-venture with Houston-based energy giant, ConocoPhillips. This ties Cenovus to two of the U.S. firm’s refineries. Also, the corporation has current deals with well-known businesses throughout the globe, such as South Africa's Sasol, Japan's Mitsubishi, and PetroChina.

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