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Impact of the Economic Environment on a Success of New Enterprise in a Country - Essay Example
Author : leonardschiller
Pages 6 (1506 words)
This essay aims to establish the importance of the economic environment of a country among all the factors, that characterize international marketing environment. Marketers should consider economic, cultural and political factors in appraising perspectives for a business in a country…
This essay outlines the significance of correct appraisal of the international marketing environment for the successful conduct of a business in different countries in the age of globalization. Importance of healthy economic environment is considered in the essay.
International marketing is faced with a variety of challenges as it is requires great strategies to achieve compatibility between different countries. This is in terms of the different needs of people in the different countries, as well as their regional differences.
Different studies have shown that most international companies do not put into consideration this aspect of a country’s economy when coming up with their strategies. Such international companies still register success in their international markets, having disregarded the aspect of economic environment. This is a proof that economic environment is not the most important consideration in international marketing, as there are more important aspects.
Of all the factors to be considered in appraising for international marketing, culture stands out as the most important factor. International marketing is a way of bridging between various countries and a way of profit creation. Culture is important in bridging between countries. However, economic factors also play an important role in determining the purchasing power and decisions of consumers in a country. This way, wealthy countries are the best platforms for international marketing as the purchasing power of their consumers is high.