2-1-8-Competing-Internationally

How businesses compete internationally

• The use of the internet and e-commerce has transformed the way businesses compete internationally

• Companies can now reach global customers and sell products/services through online platforms e.g Asos plc sells in almost every country in the world

Changing the marketing mix

• The marketing mix is the set of controllable marketing tools that a company uses to promote its brand or product in a market

  • It consists of the four Ps – product , price , place , and promotion

• Businesses have to adapt the marketing mix to a new overseas market ensure the success of the product/service

• Businesses need to take into account the different cultural behaviours and customs when operating in overseas markets

  • E.g. In India, beef and pork are not consumed for religious reasons. Fast food outlets have adapted their menu to take this into consideration 

  • E.g. In the United Arab Emirates there are rules around the consumption of alcohol that businesses need to adhere to 

Cultural factors to consider in the marketing mix

• Unintended meanings can arise when businesses use images, symbols, or language that have different connotations in different cultures

  • E.g. The colour white symbolises purity and innocence in Western cultures, but it represents death and mourning in some Asian cultures

• Businesses must ensure that their marketing messages are translated accurately and appropriately

• This involves understanding language nuances and idioms

  • E.g. When KFC entered the Chinese market, it translated its slogan “Finger-Lickin’ Good” into Chinese as “Eat Your Fingers Off”, which had negative connotations in the Chinese culture