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Introduction
Global trade increases sales and profits and puts the name of the brand on the worldwide market, which makes it extremely attractive for domestic businesses. However, there are a lot of different factors to consider and evaluate before going globally with the company.
Main body
International marketing is a new level of business that has a lot of differences from the domestic one. The article Factors to Consider for International Marketing provides an insight into the rules of global trade (Belyh, 2015). Most of the factors mentioned are to the point and still relatable five years after the publication. However, the Consumer Habits consideration might have been slightly outdated. In the world of social media, where influencers are dictating the laws of trends, they become a great tool to learn about the target audience. They could help businesses to drive their demand and show their product in the best way for potential customers from a specific country.
Another consideration that could be added is the calculation of the capability of the company before going international. The company should have a clear vision of its own competitive advantages and analyze the level of technology use, range of similar products on the market, and other relevant points of the target country. It is needed to engage specialists with the knowledge of foreign markets since the understanding of the domestic market altogether will not be enough to see the broader picture.
The article fits into the excerpt from the Code of Ethics from the Marketing Association since all the factors mentioned work towards the mutual goal of providing the highest standard of ethical norms. These considerations are tailored to correspond to the cultural and moral demands of the particular society a business wants to enter.
Conclusion
It is necessary to consider such factors as the image of the company in the eyes of the targeted country as well as the cultural sensitivity and consumer habits of the customers. It is also essential to evaluate its own capability and competitive advantages before entering the global market.
References
Belyh, A. (2015). Factors to consider for international marketing. Cleverism. Web.
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