Asked by Camille James on May 09, 2024

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What additional factors that affect the marketing environment do you need to consider when selling your product or service globally?

Global Marketing

A marketing strategy that consciously addresses customers, markets, and competition throughout the world.

  • Describe the significance and roles of global trade institutions.
  • Explain the effects of regional trade pacts on worldwide trade.
  • Examine how legal and regulatory contexts influence the formulation of marketing strategies.
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ST
Sandy TorresMay 14, 2024
Final Answer :
Besides all of the factors that affect the domestic marketing environment, such as competition, the economy, demographics, political/legal factors, and technology, companies that are considering entering the global marketplace must also be aware of factors that are present in the global marketplace. Companies need to understand and monitor currency fluctuations, the income distribution in the markets they plan to enter, how major trade agreements and organizations can affect their business, availability and usage of technology in foreign markets, and the cultural fit of, as well as the marketing methods for, the products that they plan to sell.