Among the many complexities facing pan-European websites are the following: (a) developing a site for multiple languages Deliverable In Ireland, the evening meal is called tea, not dinner. In making the decision to customize or standardize, there is a wide range of possibilities for adapting a firm’s product, price, promotion, and distribution strategies. 47-48. Furthermore, according to a study by Swiss Info, Switzerland’s meat prices are also 142% more expensive than the global average, ouch! Use the Country News menu to select the specific countries discussed and to look for additional information about the articles you have chosen. (11): Warren J. Keegan, “Conceptual Framework for Multinational Marketing,” Columbia Journal of World Business, Vol. For example, in Egypt, the country’s national color of green is considered unacceptable for packaging, because religious leaders once wore it. These nations have low standards of living, literacy rates are low, and technology is very limited. General Motors’ “Body by Fisher” slogan became “Corpse by Fisher” when translated into Japanese. 1-2; Frank Rose, “Think Globally, Script Locally,” Fortune, Nov. 8, 1999, pp. (21): Dom DelPrete, “Winning Strategies Lead to Global Marketing Success,” Marketing News, August 18, 1997 pp. The result is that consumers in the foreign nation pay high prices, get less satisfactory products, and have fewer jobs. Their strategies will be affected however. The U.S is the only currency that uses the same color green for all of its money. • company image, including quality and added value (or service). Marketers who intend to market their products overseas may be very sensitive to foreign cultures. In Cantonese, the Philip Morris name sounded the same as a phrase meaning no luck. (c) providing multilingual customer service 60-62. The changes were minimal, such as a change of font and subtle changes to the layout. Offering gifts when you visit a home is expected in Japan, but in the Soviet Union it may be considered a bribe. A common market provides for harmonious fiscal and monetary policies while free trade areas and customs unions do not. From this first important judgement, all else follows. Even a common language does not guarantee similarity of interpretation. Sometimes mass-produced goods cost less than locally-made custom products, and your marketing strategy can price your products to achieve wide acceptance. Elements of macro-environment of marketing are; Demographic factors. These activities violated cultural norms. A product that saves energy will not sell if energy is subsidized and inexpensive in the foreign market. The uncontrollable factors affecting international marketing are limited to political forces, economic climate, and competitive structure. Progress toward European unification has been slow-many doubt that complete unification will ever be achieved. You may offer the same products internationally as you do in the United States, but your global marketing has to change for your products to make economic sense in foreign economies. Examples of objectives might be: • financial performance, including return on investment and profitability; If the cost of offering your products in international markets is higher than that of locally-produced products, you may have to target luxury goods market segments. The local economy influences how you approach consumers, while the international economic framework limits your ability to produce, ship and distribute your products through cost and regulatory constraints. Just over the Ponte Vechio, the old bridge joining the Uffizi art gallery with Pallazo Pitti, there is a small storefront with 20 personal computers. (g) recruiting and retaining people in markets that prohibit or curtail stock options and other economic incentives (22). Others use a standardized marketing mix. The channel you choose for your marketing initiatives depends on the economics of delivering the goods to market and the local economic situation. (3): Philip Kotler, “Global Standardization-Courting Danger,” Journal of Consumer Marketing, Vol. • brand awareness and value; 14-15. Other countries use different colors for different values of currency but the U.S uses the same color for all denominations. The process adopted for determining long-term and short-term objectives is important and varies significantly, depending on the size of the business, the nature of the market and the abilities and motivation of managers in different markets. This car was very popular in the United States, but when they tried to sell them in Spanish speaking countries, they seemed to have problems because NO VA means ‘no go’ so they thought the car would not move. US firms tend to build products, figure how much it costs to build the product, and then ask whether the product can be sold at a profitable price. 7, November 1973, p.67. 53-55; Erica Rasmusson, “Global Warning,” Sales and Marketing Management, Nov. 2000, p. 17. Instead of incurring costs through duties and transportation, you may be able to take advantage of lower production costs in the local economy with lower labor and facility expenses. Those in favor of agreements argue that anti-dumping laws penalize those companies who are capable of competing in favor of those companies that are not competitive. The Interactive Journal provides extensive information about world business. May-June 1983, pp. Japanese marketers have developed an approach to managing product costs that has given them a competitive advantage over US competitors. You might be misinterpreted as making fun. As a result, business negotiations may take years. Cultural factors. Consider some of the following technologically related problems that firms may encounter in doing business overseas: • Foreign workers must be trained to operate unfamiliar equipment.