Critical Review of International Marketing Environment

Critical Review of International Marketing Environment in Australia

Name : Gabriel Tham Jing Wei

Student ID : 26421674

Tutor : Ms.Janie Chin

Tutorial day and time : Monday, 10am

Introduction

International marketing is the export of a country’s product or service globally to the rest of the world. International marketing is done in order to lower overall production costs, expand to new markets to increase competition, and of course, to maximize profits in the long run. However, in order for a firm to gain access to conduct business beyond their nation’s horizon, the firm must oblige to all the policies and regulations stated by the government of the targeted country. Every nation involved in the international trade has its’ own policies and regulations that has to be complied by the external parties. The role of a government in the international trade is such that the government acts as a regulator that restricts domestic or international firm. The government can also act as a facilitator by welcoming foreign firms entering the country or providing assistance to the local firms to increase the competitiveness level against foreign firms. The policies are designed by the government to either set operating limits of the foreign firms within the country in order to protect their very own domestic firms, or to facilitate international firms by allowing incentives and opportunities to create a flexible business environment for innovation and entrepreneurship purposes. The purpose of this assessment is to further evaluate the policies structured by the Australian government and how facilitate or regulate domestic firms.

Literature Review

The Export Market Development Grants (EDMG) policy was implemented in 1974 and is the Australian Government’s crucial financial assistance program for exporters. Established by the Australian Trade Commission (Austrade), the EDMG’s purpose is to provide financial assistance to small and medium enterprises (SME) with...