What are the environmental factors that affect global and domestic marketing decisions? Address the following as they relate to Toyota's marketing decisions:
- What influence does global economic interdependence and the effect of trade practices and agreements have?
- What is the importance of physical infrastructure and demographics?
- What is the influence of cultural differences?
- What is the importance of ethics versus legal obligations and social responsibility?
- What is the effect of the influence of international relations and political systems?
- What is the influence of the Foreign Corrupt Practices Act of 1977, as well as the influence of local, national, and international legislation?
- What effect does technology have?
Nowadays every organization is moving towards international locations for extending the reach of their business operations. This international level expansion decisions are highly affected by environmental factors (Rugman, 2002). The prominent environmental factors that affect a company's global and domestic marketing decisions are political, social, regulatory, ecological, cultural, technological and ethical. Any organization that explicates a product or service and want to market it domestically or globally should need to analyze the impact of different environmental factors on its marketing decisions.
The consideration of these environmental factors is essential as otherwise an organization can lead to failure. Here, in this paper the affect of environmental factors on a firm's domestic and global marketing decisions will be discussed with the help of Toyota Motor Corporation. Toyota Motor Corporation is a huge company which performs both domestic and global marketing and is a well-recognized firm (About Toyota, 2009). The company is well-known for manufacturing automobiles and in addition to this it also offers various financial services to its customers all over the world. The company's worldwide operation decisions are highly affected by different environmental factors.
Influence of Global Economic Interdependence & Trade Practices and Agreements
Toyota Motor Corporation operates all over the world and its domestic and global marketing decisions are highly affected by global economic interdependence and trade practices and agreements. As a global society, the world is becoming more and more interdependent and this interdependence is increased with the formation of different economic unions among different nations.
The company also believes that it could fulfill the needs of different country's consumers and it is extending its operations all over the world but all this success is due to the increasing economic interdependence among different nations. In addition to this its domestic and global marketing decisions are also influenced with the ...
This solution discusses environmental factors affecting Toyota's global and domestic marketing decisions, including discussions of trade practices, demographics, culture, ethics, politics, legislation, and technology. It is approximately 1,233 words with 5 references.