International Strategic Marketing A European Perspective - 1.1 MB
Description
INTRODUCTION
This chapter will introduce you to the field of international marketing and, in particular, to the environment within which international marketing decisions are taken. It will demonstrate how it pervades nearly every aspect of our lives.
We are enmeshed as citizens, as individuals and as members of society, including that of organizations, in a network of global linkages that makes countries dependent more than ever on other countries and on other organizations. The so-called economic meltdown in South East Asia in 1997–8 made its effect severely felt as far away as Russia, Brazil and Japan, and to a lesser extent the rest of the world. Policy makers have
We are enmeshed as citizens, as individuals and as members of society, including that of organizations, in a network of global linkages that makes countries dependent more than ever on other countries and on other organizations. The so-called economic meltdown in South East Asia in 1997–8 made its effect severely felt as far away as Russia, Brazil and Japan, and to a lesser extent the rest of the world. Policy makers have
less capability than formerly to deal effectively with the effects of the globalization of business. Markets have the power to dictate the destiny of countries. An example of this was the ejection of the UK and Italy from the Exchange Rate Mechanism (ERM) of the European Union (EU) in 1993 when the markets showed their lack of confidence in their currencies. The currencies fell outside the permitted deviation limits of the mechanism and were automatically excluded. There remains considerable authority on the part of governments to carry out actions in relation to interest and exchange rates. This is especially the case when they are not constrained by supranational legislation related to taxation, competition policy, direct influence on large
projects deemed to be of national importance or co-operation with other governments. There is a host of other levers, often seen in the enactment of laws and any regulations made under them, by which legislators can create, if they are wise, a climate in which business can flourish to the benefit of all.
However, markets are themselves subject to the vagaries of changes in the environment. While the function of markets is to match segments of supply and demand by bringing together buyers wanting to exchange money for goods or services with sellers wanting to exchange goods and services for money, any events likely to influence supply...
projects deemed to be of national importance or co-operation with other governments. There is a host of other levers, often seen in the enactment of laws and any regulations made under them, by which legislators can create, if they are wise, a climate in which business can flourish to the benefit of all.
However, markets are themselves subject to the vagaries of changes in the environment. While the function of markets is to match segments of supply and demand by bringing together buyers wanting to exchange money for goods or services with sellers wanting to exchange goods and services for money, any events likely to influence supply...
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