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Marketing is an essential aspect of business because it creates awareness. As a result, companies constantly strive to be creative to appeal to more clients. Due to the increased number of clients, businesses expand their market share and consequently enhanced their customer base. However, sometimes marketing strategies fail terribly. Therefore, a company that aims to operate globally often uses marketing to make itself known. However, marketing can sometimes fail if some mistakes occur during the marketing process. Therefore, marketing mistakes can affect international marketing by damaging the brand reputation, loss of market share, and incur increased costs.
International business highly depends on brand reputation to enter into a new market. However, in incases a marketing mistake occurs, the brand reputation will be damaged, and many customers will shift to other substitute goods because they will be deterred by the bad reputation (Sharp, 2016). As a result, the business will take long before attracting more customers, leading to loss-making. Additionally, some protests can be organized, and this can make customers boycott the products; thus, forcing the business to make huge losses in the international market.
Marketing mistakes can lead to lengthy legal cases and even compensation. When an advertisement goes wrong, several lobby groups that feel offended can file court suits which will require the company to defend itself. As a result, the company will hire legal experts and even pay legal fees to the courts, increasing the cost from the original budget allocated for marketing. Additionally, the business can be forced to compensate the aggrieved parties, further increasing the associated costs.
The success of a business in an international market depends on the ability to increase its market share. However, marketing mistakes can lead to the loss of an already gained consumers. As a result, it will take a considerable amount of time to regain the niche. The primary purpose of promoting is to increase market share by creating awareness. However, if an advertising mistake scares customers away, it shrinks the market share, making the business incur losses.
Succinctly, marketing mistakes can affect international marketing in that they can cause destroy brand reputation, increase costs associated, and lowers the market share. Due to marketing mistakes, the business can incur expenses in legal cases that can follow and compensate the aggrieved. The company can take several years before regaining its reputation, leading to significant losses due to a shrink in market share, which is caused by marketing mistakes.
Reference
Sharp, B. (2016). How brands grow. Oxford University Press.
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