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International Marketing w6 - Essay Example

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As a result, it is the duty of businesses to adopt mechanisms geared towards making adjustments so as to remain relevant in the business environment. To that effect, reactive businesses may find themselves lagging behind or…
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International Marketing w6
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International Marketing w6

aba College of technology, Yaba, Lagos, Nigeria, wrote an article on environmental perception in bank marketing strategies during the period of December 2009. In this article, the author has addressed environmental factors that impact on strategic marketing practices. According to his work, environmental issues such as technology in banking, government policy, and economic factors influence the banking industry in diverse ways. His particular focus hinges on the introduction of computer technology into the banking services in the country and all over the world. He further reviews how government policies impact on the acquisition and involvement in the technological developments within the country. In a nutshell, the article captures the environmental variables that have affected the strategic marketing moves of major banking businesses. He further asserts that the rate of technological alterations and the nature of the heated competition for the control of the clientele base form the most important aspects that influence organizational strategies in international business (Linus 2009, 1).
From the above article it can be noticed that technological changes do affect the conduct of businesses in a big way. As it emerges, the banking system has been faced with this concern. It becomes upon the players in the banking sector to adopt the new innovations like the introduction of computer banking. It is however an optional issue unlike the legal requirements. One major consideration in such case is the motivation to remain in business (Khandwalla 1997, 55). If any bank aspires to remain in business or retain its market control, then the top management should be under no illusions. It should seek ways to introduce the technology or lag behind and lose out to potential competitors.
Another reflection that arises is the fact that the business environment remains very dynamic. In light of this, it is the duty of the business entities’ managements to be on the look out for ... Read More
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