Global approach to the international marketing approach to a firm venturing in the overseas is extremely significant and crucial (Peng 2013). There are certain major reasons to believe so and act accordingly. The first reason is to increase sales. For example if a business is flourishing its productivity in the host nation, it is likely to generate higher sales in the other markets as well. It can be assumed that more that 90% of the world’s population retort to vernacular language apart from English, thus it can be concluded that the population is extensively global and if the company can look beyond the shores of only the domestic productivity it should also be able to understand its prospects and potential outside the area of control. The second reason is improvement in the profits. Many firms are not considerably competitive so therefore the price pressures is less. It can likely be considered that a product sold in the home country significantly costs higher in the foreign markets and the primary reason being the export markets (Mukherjee et al. 2013). The third reason is short-term security where the business would be less liable and venerable to the fluctuations and downturns of the market. The fourth reason is long-term security where the host market would probably sustain a high competition from within and outside. So a firm having excess capacity would be necessarily look forward to trade internationally, if the firm wishes to keep up with the expanding market and apply its potential. The fifth reason is to increase innovation, where the extension of the customer base both domestically and internationally would help the firm to finance the development of a new product. The sixth reason is the exclusivity where a firm’s management might have exclusive information and knowledge about the international prospects and the market that the other companies are not necessarily aware about. This can help the firm grow both internally and extensively. For all these reason, the international approach to a global market is appropriate for any firm (Terpstra et al. 2012).
The six significant factors that should be considered by any firm to sustain itself in the market are Demographic, Economic, Political, Ecological, Socio-cultural and Technological factors (Radebaugh 2014). The demographic forces relate to the people and the population based on the density, age, gender, occupation and the other statistics. Understanding the demographics is necessary since the reason of the business is dependent on the needs and demands of the demographics. The economic factor signifies the factors that affect the consumer purchasing behavior and their contribution towards a brand or product. The socio-cultural factors refer to the factors that affect the society’s basic value and norms including their behavior and preference. The basic concept of the same is generated from the fact that the consumers are a vital part of the society and the peer cultural group is fundamental in shaping their beliefs and perception. Few business failures often tend to occur due to the lack of understand the cultural attributes. Ecological factors are also the natural forces that are necessary to understand since the natural resources are one of the primary inputs that should be taken into consideration. Political forces are equally vital for any business since the political environment limits every business. This includes the laws, the public agencies and the pressure groups which influences and can restrict the organization and individuals in the society, this affecting the business. Thus, it can be concluded that the marketing decisions and business operations can be strongly influenced and affected by the developments in the political environment.
The lead users are considered as important resources for the marketers to manage adoption and diffusion of wearable technology products. From the various evidences, it can be seen that the lead users are more concerned with the innovation and developments in various domains with the perceiving and adoption of newer technologies. The lead users have the abilities to demonstrate strong leadership opinions and lesser abilities to obtain the opinions and feedbacks. The lead users concept is an important aspect of the marketing discipline, which focuses on the management of innovation and even discusses the various implications of developing products, innovating those and remain beneficial for the marketers (Aldhaban 2012). Though the lead users have lesser roles and responsibilities in the development of products, they are more focused on the adoption and diffusion of new consumer products and services. The lead users gain the most of benefits from the innovation procedures and can even help in meeting the needs and requirements of people that are left unfulfilled by the commercially available products (Chuah et al. 2016).
Wearable technologies have led to the improvement in technologies and few examples of wearable technologies are smart watches, Google glass, etc. The wearable technologies are small yet convenient for the management of various tasks including most of the things that can be done on a smart phone. It has enhanced the way of managing communication has also made it easy to make calls, surf internet as well as progress in everyday lives quite easily (Chuah et al. 2016). The wearable devices have fulfilled most of the tasks performed on a smart phone and these devices consist of mp3 player, camera, bank apps and can even make calls and capture videos anytime and anywhere. There are other ways of socializing with people with the help of these wearable technologies and these can also facilitate the use of technology to change the process of communication largely (Kim, Ki Joon and Dong-Hee Shin 2015). Social networks could also be accessed with the use of these wearable technologies and this could further help in gaining accessibility to various networks too.
With the use of wearable technologies, social media access has been easy and it has enabled many people to communicate with each other and update every move made by people. The Voice over Internet protocol or VoIP has also revolutionized the areas of communication by using wearable technologies. The lead users are responsible for the marketing activities and so it is necessary for them to use the wearable technologies and make sure that the marketing activities are managed properly (Thierer 2015). By using the wearable technologies, the lead users would be able to communicate with the businesses and check out their needs and preferences to fulfill those and make the organization successful in the competitive business environment. The wearable technologies promote instant connectivity along with various kinds of entertainment activities. The wearable technologies have changed the way brands and marketers connect with the leader users with the use of GPS, Google search history, etc (Thierer 2015). the lead users have capitalized on the brands by personalizing their messages and experiences that have been delivered to the customers. The lead users, by utilizing the wearable technologies, have managed to facilitate the instantaneous connections and evolved the business successfully too. It is easy for them to make phone calls, access internet and even capture pictures and videos in case of emergency to make progress in business (Aldhaban 2012). There are few other benefits too such as improving personal safety and these devices can even provide security for the various files and information that have been stored.
Aldhaban, Fahad. "Exploring the adoption of Smartphone technology: Literature review." In Technology Management for Emerging Technologies (PICMET), 2012 Proceedings of PICMET'12:, pp. 2758-2770. IEEE, 2012.
Chuah, Stephanie Hui-Wen, Philipp A. Rauschnabel, Nina Krey, Bang Nguyen, Thurasamy Ramayah, and Shwetak Lade. "Wearable technologies: The role of usefulness and visibility in smartwatch adoption." Computers in Human Behavior 65 (2016): 276-284.
De Mooij, Marieke. Global marketing and advertising: Understanding cultural paradoxes. Sage Publications, 2013.
Deresky, Helen. International management: Managing across borders and cultures. Pearson Education India, 2017.
Frynas, Jedrzej George, and Kamel Mellahi. Global strategic management. Oxford University Press, USA, 2015.
Kim, Ki Joon, and Dong-Hee Shin. "An acceptance model for smart watches: implications for the adoption of future wearable technology." Internet Research 25, no. 4 (2015): 527-541.
Lee, Kiefer, and Steve Carter. Global marketing management. Oxford University Press, 2012.
Mukherjee, Malobi, Richard Cuthbertson, and Elizabeth Howard, eds. Retailing in emerging markets: a policy and strategy perspective. Routledge, 2014.
Oum, Tae Hoon, and Chunyan Yu. Winning airlines: Productivity and cost competitiveness of the world’s major airlines. Springer Science & Business Media, 2012.
Peng, Mike W. Global strategy. Cengage learning, 2013.
Radebaugh, Lee H. "Environmental factors influencing the development of accounting objectives, standards and practices in Peru." The international Journal of Accounting Education and Research. Urbana 11, no. 1 (2014): 39-56.
Smith, Ronald D. Strategic planning for public relations. Routledge, 2013.
Steers, Richard M., and Luciara Nardon. Managing in the global economy. Routledge, 2014.
Terpstra, Vern, James Foley, and Ravi Sarathy. International marketing. Naper Press, 2012.
Thierer, Adam D. "The internet of things and wearable technology: Addressing privacy and security concerns without derailing innovation." (2015).
Van der Linden, F. Robert. Airlines and Air Mail: The Post Office and the Birth of the Commercial Aviation Industry. University Press of Kentucky, 2015.
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2019). Environmental Factors Influencing Development. Retrieved from https://myassignmenthelp.com/free-samples/environmental-factors-influencing-development.
"Environmental Factors Influencing Development." My Assignment Help, 2019, https://myassignmenthelp.com/free-samples/environmental-factors-influencing-development.
My Assignment Help (2019) Environmental Factors Influencing Development [Online]. Available from: https://myassignmenthelp.com/free-samples/environmental-factors-influencing-development
[Accessed 27 May 2020].
My Assignment Help. 'Environmental Factors Influencing Development' (My Assignment Help, 2019) <https://myassignmenthelp.com/free-samples/environmental-factors-influencing-development> accessed 27 May 2020.
My Assignment Help. Environmental Factors Influencing Development [Internet]. My Assignment Help. 2019 [cited 27 May 2020]. Available from: https://myassignmenthelp.com/free-samples/environmental-factors-influencing-development.
MyAssignmenthelp.com has become one of the leading assignment help provider in New York City and Boston. We provide top class auditing assignment help. Not only auditing, but we also cover more than 100 subjects and our writers deal with all types of assignments with utmost expertise. To make writing process faster and accurate, we have segmented our assignment experts' teams as per their expertise on writing different types of assignments. We guaranteed that students who buy our assignment online get solutions worth their investment.
Answer: Title: Reduction Of Construction Wastes During Construction Work Of Large Scale Projects In Developing Countries Section 1: Annotated Bibliography Miquel Casals, Núria Forcada, Marcel Macarulla, Analysis of the implementation of effective waste management practices in construction projects and sites, December 2014, Volume 93, 38 “Current waste generation rates are still below predicted levels, and the infrastru...Read More
Answer: Lodgement classification: The frequencies of agent lodgement is found by the excel formula: “=COUNTIF(C2:C1001, "=1")”. The frequencies of self lodgement is found as: “=COUNTIF(C2:C1001, "=2")”. Proportions are counted by each count/total frequency. By clicking “Insert”, then “Pie”, pie chart is generated. The axes, borders are decorated by right clicking “Format chart area&r...Read More
Answer: Introduction The report helps in analysing the different kind of business activities along with analysis of the service delivery along with manufacturing process of the Sky Plc Company. Proper identification of the different strategies will help in improving the different processes of manufacturing as well. Proper discussion is essential in nature wherein it has helped in making the organization successful or not successful in n...Read More
Answer: Introduction Pepsi Company is among the largest manufacturer of snack and crisp with very high annual sales. The company is also known for its manufacture of carbonated drinks. However, Pepsi Company is not only known for the products it manufactures but also for their methods of production. The company is very creative and innovative in their activities where the company invented various brands of sale instead of selling one particul...Read More
Answer: Dear Christopher, We are extremely happy to see that you have remembered us and that is why we would like to show our gratefulness in response to the mail that you have sent to us. We cannot express our joy to see that that you have written to us and we assure you to provide you with the best solution that is available. With those possibly the best solutions it will become easy for you to make the right choice and that also in an appr...Read More
Just share Requriment and get customize Solution.
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
very good writings, good references and really good pronunciation. would do here again the other time. very recommended!!!
must be a stupid expert who finished my assignment, don\'t trust it when they say, how good they are. They are all lies!!! i paid 148 dollars for 1000 words, and got less than 50%.!
It was good and was satisfied with this. This is completed and was passed right away after the presentation. Thank you!
They did a good job but this time i was no happy that much because i feel i need to let them again and again then even they did't done proper what i need but anyway once happend otherwise other all are mine good and i clear too