Assessment Task2 an individual report on international marketing Research Paper

Assessment Task2 an individual report on international marketing environment assessment - Research Paper Example Facilitating international business and marketing has been the underlying strategy of Australia that is directed towards strengthening the country’s economy and the country has been able to achieve that this far. The study of these factors has also enabled the researcher to determine the major challenges for international marketers as well as major prospects for international marketers in the country. The study concludes that although the Australian marketing environment is associated with certain drawbacks, the benefits and opportunities that it provides to the global marketers outweighs all drawbacks and constraints and makes marketing in Australia a prospective decision. Table of Contents 1. Introduction 4 2.International marketing environment in Australia 5 2.1.Political forces 5 2.2.Economic forces 6 2.3.Financial forces 7 2.4.Social forces 8 2.5.Cultural forces 8 2.6.Technological forces 9 2.7. Legal forces 9 3. Current challenges for international marketers 10 4. Opport unities for international marketers 10 5. Conclusion 11 Reference List 12 1. ... International marketing is the process of marketing on a global scale by integrating or taking commercial advantage of operational differences that can be identified globally as well as the similarities and opportunities present all over the world in order to fulfil objectives as far as expanding internationally is concerned (Baack, Harris and Baack, 2013). The authors have explained that international marketing involves the activity of franchising, exporting and merging or a complete direct entry of a marketing organization into a foreign country. Following this, a company needs to develop a marketing mix specific to the country of expansion as a part of its international marketing strategy (Buckley, 2002). It can be as straightforward as implementing an existing marketing strategy, product mix and tools for export and alongside that, the company can formulate highly complex relationship strategy that includes localization, pricing, regional product offerings, production and distrib ution. Globalization and international marketing caters to meet the needs and requirements of the targeted foreign country whereby a company can export its value, thereby achieving optimization and efficiency in economies of scale and scope as well as facilitating inter-firm and firm learning (Felzensztein et al., 2013). The abovementioned theories explain the importance of international marketing as far as a company’s growth and success strategy is concerned. For a company planning to expand internationally, a detailed judgement of the market prospects along with a thorough evaluation of the PESTEL environment of the target country is pivotal. This is primarily