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.
Expert Solution & Answer
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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Chapter 19 Solutions
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