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Impact of Culture and Other Macro Factors on the Marketing of Products as Well as Insight into Market Attractiveness and Entry - Essay Example
Pages 8 (2008 words)
Impact of culture and other macro factors on the marketing of products as well as insight into market attractiveness and entry Introduction The following report deals with launching of magazine for children by a UK publisher in Eastern European market including Russia…
International marketing can be defined as application of marketing principles outside the domestic market which include similar functions like conception, promotion and distribution of products and services in order to satisfy market demands as well as organisational objectives (Papavassiliou and Stathakopoulos 1997). Generally, international marketing is confused with terms like global marketing and export but these terms are different. (Appendix 6) Market Segment Analysis Market segment analysis provides a comprehensive analysis of the children’s market. Segmentation of the market is the process through which market can be defined and accordingly subdivided into various segments whose needs, wants and demands are similar in nature (Ernst & Young's 2011 Russia attractiveness survey 2011). It is very useful in international marketing because it directs the way for designing the marketing mix according to the expectations of the target market. There are few companies which are big enough to fulfil the varying demands of the entire market. However, most of the companies prefer market segmentation into several segments and opt for the one or more than that whose demand it can easily fulfil (Retail and FMCG sector in Russia 2011). In relation to today’s children, it can be said that they have their own lifestyle which is largely affected by their surroundings, background and education. ...
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