Factors To Consider For International Marketing
International marketing is very different from domestic marketing. There are many things to deal with while doing international marketing rather marketing on a local country. The following are some of the tips to consider when making any international marketing decisions.
It is important to think about cultural factors. This is because of language, taste, regional values. What might consider normal for one country it might not be consider for some other countries.
If you are going to translate your texts you need to pay a very close attention. There have been many embarrassing mistakes in international advertising that most likely did not help companies sell their product. The types of language problems can be funny for an outsider however, it can be a financial disaster for your international business if you are not careful.
Entering international markets can be very difficult for some companies because some countries have different eating habits. For instance, McDoanalds had to totally make over its image when it came to marketing itself in a country like India that sees beef consumption as being off limits. Therefore, they have being successful there by introducing vegetarian and regional choice to the menu selection.
Many times a country to which you would like to sell a product has extreme regional differences that must be accounted when marketing. A perfect example is in Canada where they have many people that they speak French and not English.
Culture and personality combine to shape consumer behavior in every particular region of the world or country. When it comes to market a product you need to determine whether the society you will market is individualistic aka free thinking culture or a collective society aka they are influence by peer groups on their buying decisions. You also need to consider other psychological factors that influence buying decisions in the country you are targeting to sell your goods or services.
Demographics and Age
Age and other demographics pay a key role in international marketing as they do in domestic marketing. For example, you will not going to advertise laptops to a third world country where the internet is limited to people over 60 that most probably luck of computer literacy. Therefore it is important to understand age and other demographics in order to advertise your goods and services so a reliable and loyal audience that will be applicable for them.
A country’s wealth is a huge factor when determining potential target market. If for example the income is less than $800 a year it is probably not going to be a good market to sell your $1000 washing machine.
Relevant Class Structure
Another factor to consider is the class structure of a targeted country, this is because it is different from country to country. Some countries have an upper, middle and lower class but the numbers of people in these classes can be vary from country to country.
Supply and Demand
Any country has its own demand. Therefore supply and demand play vital role when you are trying to market your products worldwide. A company must take a deeper look on potential markets than ever before as the right market will sell and will market its way.
As technology progress, companies can take the advantage of it and market their products and services online and that will make easier to determine audiences. There are many factors that business and marketing teams must consider before deciding which country or region you will sell your goods or services.
July 9, 2020
July 2, 2020