Environmental Factors Paper

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Environmental Factors

Marketing MKT/421

University Of Phoenix

Instructor: Shannon Peterson

Student: Luvenia Manning

Monday, April 26, 2010

This paper will identify the environmental factors that effect global and domestic marketing decisions. I will analyze the influence of global economic interdependence and the impact of trade practices and agreements. The importance of demographics and physical infrastructure will be examined. The paper will analyze the influence of cultural differences; examine the importance of social responsibility and ethics versus legal obligations. This paper will analyze the effect of political systems and the influence of international relations. It will also analyze the influence of the Foreign Corrupt Practices ACT, as well as the influence of local, national and international legislation. Finally, this paper will explain the impact of technology.

Domestic Marketing is defined as: “Marketing aimed at a single market. This single market is the firm’s domestic market. The firm faces only one set of competitive, economic and market issues” (www.utdallas.edu). Global Marketing is defined as: “A global marketing strategy involves the creation of a single strategy for a product, service, or company for the entire global market. A firm that pursues global marketing settles on a basic strategy that can be applied throughout the world market, all while maintaining some flexibility to adapt to local market requirements where necessary” (www.utdallas.edu). A global marketing strategy is encouraged because markets seem interrelated in environment and customer requirements. Organizations that practice global marketing must be proficient at international marketing for the reason that “designing one global strategy requires a sound understanding of the cultural, economic, and political environments of many countries” (www.utdallas.edu).

Environmental factors that effect global and domestic marketing decisions are political decisions,...