entrepreneurship development and international marketing environments - phdassistance.com
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With the industrial evolution in recent decades the entrepreneurial ventures are escalating due to globalization which significantly increases the foreign market investments. In recent times, globalization of new Entrepreneurial ventures is both expanding and this may possibly contribute to a greater number of economic actors pursuing foreign markets. Researches show that international entrepreneurship develops and expands over the past decades contributing to a decrease in the transaction costs in the business worldwide. This backdrop would greatly help the business venture owners to find ways to take their products to foreign markets, however the present conditions of the market makes it challenging for the foreign companies Website Visit:https://www.phdassistance.com/blog/ Contact Us: UK NO: +44-1143520021 India No: +91-8754446690 Email: [email protected]TRANSCRIPT
ENTREPRENEURSHIP DEVELOPMENT AND INTERNATIONAL MARKETING ENVIRONMENTS
An Academic presentation byDr. Nancy Agens, Head, Technical Operations, Phdassistance Group www.phdassistance.comEmail: [email protected]
In Brief
Introduction
International Marketing Environment
Political and Legal Factors
Demographic Factors
Socio-Cultural Factor
Physical and Technological Factors
Natural Environmental Factors
Conclusion
Outline
TODAY'S DISCUSSION
With the industrial evolution in the recent decades the Entrepreneurial ventures are escalating due to the globalization which significantly
increases the foreign market investments. Globalization of new entrepreneurial ventures is both expanding and this may possibly
contribute to a greater number of economic actors pursuing foreign markets. Researches show that the international entrepreneurship
develops and expands over the past decades contributing to a decrease in the transaction costs in the business worldwide.
In Brief
The global market operates as a platform for innovative entrepreneurs outside their home countries to make a life and gain income.
International entrepreneurs are not only globally responsive to specific marketing conditions but also juggling marketing campaigns around the world to achieve optimal outcomes for their firms.
Specific industries become critical in the perspective of certain factors affecting the International Environment.
Economic, political, Technological and cultural factors are the influencing variables to the global entrepreneurial success.
Introduction
Several international environmental forces mitigate the entrepreneurs striving to expand their business internationally.
International Marketing Environment
Figure 1: International Marketing Environment
Due to extreme competitiveness, political and policy systems have strongconnections to the development of business strategy.
The communist countries for instance used to have a centrally controlledeconomic structure.
Political and Legal Factors
The demand for goods and services is influenced by Demographic factors including population size, population growth rate, age structure, life expectancy, family size, geographical propagation, and occupational status and job patterns.
A steadily rising population means that many goods are progressively in demand. Rapid population growth also represents a significant boost in the supply of labour and manpower.
Demographic Factors
Socio-cultural construct is an important aspect for the world that needs to be studied when formulating marketing and business strategies.
The businesses which ignore the people's customs, rituals, taboos, preferences and tastes etc. generally pays a hefty price and face many challenges.
Socio-Cultural Factor
Physical factors including geographical factors, weather and climatic conditions tends to modify the products to suit the environment since these are uncontrollable environmental factors.
Physical and Technological Factors
Ecological and geographical factors such as the endowment of natural resources, environmental and climatic conditions, topographical factors, global location aspects, and sea ports are all essential for businesses.
Geographical variations between markets may often cause changes in the marketing balance.
Natural Environmental Factors
The value of the foreign marketing climate cannot be overemphasized in today's global world.
A journey into International Marketing, unlike domestic marketing, involves simultaneous intervention in more than one form of environment and coordination of business operations.
International marketing involves simultaneous intervention in more than one form of environment, and the use of the experience gained in one country to make decisions in other countries effectively.
Conclusion
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