UK firms away from genuine competition. They may become lazy and inefficient
Free trade forces UK firms to produce quality goods and services as they face much foreign competition
If the UK puts up trade barriers then other countries are likely to retaliate.
Free trade encourages firms to export and import. This should encourage a greater choice for consumers and a higher standard of living
Trade barriers increase the cost of trading. For example, a tariff would mean that UK firms and consumers may have to pay more for imports of raw materials or consumer goods
There are many attractions to international trade. The general concept has been that bigger the international trade coverage better market opportunity. Having broad-based trade and the ability provide value added services and products will result in high demand and increased profit.With the availability of advanced technology, improved transportation and communication facilities the world has become smaller, distance between countries have reduced making them closer more than ever before.
A Firm could enter in to any market if they were similar in terms of their characteristics such as cultural and religious beliefs, consumer behaviour, customer needs and wants, tastes, product usage, and government rules and regulation, etc.
After their huge success in Asian countries, Pepsi launched similar campaign inRussia. Pepsi was able to overcome all the cultural barriers and reach 280 million of Russian market
One example of a cultural barrier that England face in international trade is usually the language. Understanding of a foreign language and their processes may still not be able to close the gap in cultural differences.
For example in United States or many western countries it is normal to use a very casual form of English.Such as slang and shortened words are acceptable not only in everyday language but in formal occasions and business settings. Other countries such as Japanese culture is different,
Another example of a cultural difference is we look at the difference between Christian and Muslim countries. These differences will be noticeable in a variety of ways such as the portrayal of masculinity or femininity and the role of the genders in many societies, This may mean that the actual target groups to which a product needs to be marked may be different from one market to another. For example restaurants will need to consider those who do not eat pork due to religious reasons.
This may mean that the entire marketing concept may need to be changed, as the target group may need to be reformulated as well as the social differences needing to be amended for the marketplace.
There are many different aspects that need to be considered when it comes to marketing. These include the use of brands and marketing, market placement of goods, and the larger barriers such as international and local trade laws. The development of branding is one area that has gained attention in international marketing.
There are many examples of branding that has operated successfully with similar images that are designed to be culturally generic, such as Pepsi-Cola inUnited StatesandJapan, where there have been a huge success.
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