Principles of Marketing, Student Value Edition (17th Edition)
Principles of Marketing, Student Value Edition (17th Edition)
17th Edition
ISBN: 9780134461526
Author: Philip T. Kotler, Gary Armstrong
Publisher: PEARSON
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Chapter 19, Problem 19.1DQ
Summary Introduction

To discuss: The environmental factors which need to be considered by the international marketers before entering the foreign markets.

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Explanation of Solution

The environmental factors which need to be considered by the international marketers before entering the foreign markets:

Environmental factors are of 3 factors they are as follows:

  • Economic environment
  • Political and legal environment
  • Social and cultural environment

Social and cultural environmental factors:

The entering marketers need to consider the economic environmental factors. It plays a vital role in international marketing. They marketer need to focus on the language, taste and preference, regional values, and consumer habits.

Economic environmental factors:

Economic factors to be considered as follows:

  • Per capita income,
  • Supply and demand,
  • Relative class structure.
  • Financial banking and transactions

Political and legal environmental factors:

Political and legal factors to be considered as follows:

  • Laws
  • Taxes
  • Licensing and permits
  • Fees
  • Taxes
  • Tariffs
  • Currency risks.

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