-
Essay / Global Marketing - 559
With nearly half of the world's largest companies, an export rate second only to China, and the perceived value of American products by foreign consumers, the need for global marketing for businesses in the United States is a necessity. Global marketing expands a company's market, allowing it to grow and not rely solely on its own country's resources and revenue for its success. Companies that expand their operations overseas gain business benefits, such as new distribution approaches, new product development, and new insights into customer behaviors. As a nation, global trade provides a means to procure necessary materials and products that are unavailable or in insufficient quantities to meet customer needs. Environmental factors have a great influence when it comes to deciding to expand a business abroad. Marketers must pay attention to and understand not only the demand patterns of targeted markets, but also competitive, economic, sociocultural, political-legal, and technological influences. A nation's size, economic development and income determine its prospects...