Essay on Maximizing Global Marketing Strategy: The Impact of Market Situation System

The market situation system impacts what one has to offer and how he/she present it to the target customers. In international marketing, one's marketing strategy is affected by the global economy as well as the economics of the market that is being targeted (Gillespie, 2015). The international economic outline confines the ability of production, shipment, and distribution of one's products by the use of regulatory and cash constraints. For a global marketing strategy to be effective, it has to take into account both international and local economic conditions. The current paper discusses how modern international marketing functions are affected by significant international global economic policies.

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The central international policies that affect modern global marketing include government influence, products supply and demand, international transactions, and speculation and expectation. Technology, especially the internet, although not included as a critical economic policy, play a big part in modern international marketing (Helsen & Kotabe, 1998). Additionally, markets have turned out to be sensitive to the corporate citizenship model and the idea of responsible corporate sustainability. Government influence is an essential policy in business because the government, through monetary policy, can either lower or increase interest rates for companies operating in the country. The government can either increase or decrease its spending, to ease unemployment or stabilize the prices of commodities. Also, the government can either lower or raise taxes for businesses (Helsen & Kotabe, 1998).

In the demand and supply of products, there is no shortage or surplus of products at equilibrium. The market will always settle at that point where demand is equal to supply. If the supply does not change and demand increases, then the equilibrium quantity and price increases (Benson & Pleck, 2001). International transactions always affect the prices and costs of one's goods. If the value of offering products in the international market is higher than that of providing goods in the local market, then one may be forced to turn their attention to the luxury products market section. Speculations and expectations affect the financial market. Everyone in the market predicts how the economy will be in the future. Sentiment indicators analyze how the economy can be in the future. The analysis of the indicators helps in the prediction of future rates and trends in the market (Young, Hood & Hamill, 2017).

References

Benson, S., & Pleck, E. (2001). Home for the Holidays. The Women's Review Of Books, 18(5), 23. doi: 10.2307/4023610

Gillespie, K. (2015). Global marketing. Routledge. https://www.taylorfrancis.com/books/9781315716886

Kotabe, M., Helsen, K., & Kotabe, M. (1998). Global marketing management. New York, NY: Wiley. http://131.193.209.39:8003/view_syllabi/static/view_syllabi/syllabus/MKTG%20469%20CRN%2016662%20Fregetto%20Spring%2014.pdf

Young, S., Hood, N., & Hamill, J. (2017). Foreign multinationals and the British economy: Impact and policy. Routledge. https://www.taylorfrancis.com/books/9781315271323