Prepare 700-1050-words in which you identify the environmental factors that affect global and domestic marketing decisions.
a) Select an organization with which you are familiar that conducts both domestic and global marketing.
b) Discuss the high-level domestic and global environmental factors that may impact the organization's marketing decisions.
c) Explain how technology impacts the organization's marketing decisions.
d) Analyze the importance of social responsibility and ethics as related to the organization's marketing.
For the purpose of this assignment, we will select General Motors, one of the largest automobile companies in the world selling its product in domestic (USA) as well as several international markets across the world.
Some of the most important environmental factors that affect domestic market of GM are competition, economic scenario and industry scenario, consumer taste and preferences, etc. Apart from the above-mentioned ones, some of the other factors that affect global marketing decisions of GM are socio cultural preferences, language and local customs of consumers in different countries across the world. Let us evaluate each of these.
Competition is one such environmental factor that not only affects domestic but global marketing decisions of GM as well. GM has to keep a close eye on competitor's moves and strategies in order to modify its marketing decisions. GM needs to respond quickly to competitor's marketing decisions in order to remain competitive in the marketplace. If GM's marketing decisions will not be responsive to competitor's strategies, GM may lose its competitive advantage over its competitors. Therefore, competition is one such factor that GM needs to incorporate in all its marketing decisions, be it domestic or global marketing.
Another major factor is economic scenario. The ...
The solution selects General Motors as its organization. It is 792 words in length and includes one reference.