Going Global?

With a new year come new ventures. Many entrepreneurs and small businesses are deciding to spread their wings and soar into the global landscape. Are you ready for the global market?

Global business strategies are best implemented after careful analysis of doing business in a particular region. This includes acquiring knowledge on all aspects of the country and region, and using the data to make sound decisions. Marketing managers or consultants must be aware of, and incorporate technology with rapid change and innovation to take charge in the industry in which they operate. Researching and accessing the global market is similar to accessing the domestic market with the appropriate use of technology. For example, researching a particular foreign market no longer requires the cost and inconvenience associated with taking a trip abroad. Information can be mined from the manager’s workstation and picture files and sound can be sent via the Internet. Technical hardware equipment and software tools abound that will help marketing consultants in making both domestic and global decisions.

Understanding the legal impediments is important, and so, too, is being mindful of the cultural factors that affect the decision-making process in marketing. Additionally, in global culture, gestures, speech, and use of words may be different from those of the United States. Although barriers are continuing to disappear, the marketing consultant must never assume that other nations will always be receptive of the way marketing messages are sent.

Overall, marketing professionals must perform comprehensive research, as well as test the market, especially as it relates to technology, the laws or lack of laws, and the culture of both domestic and global markets. The strategic challenges that face newcomers to the global market can be handled effectively with accurate analysis of external factors that affect decisions. Perpetual pursuit of information on world changes will serve to heighten the awareness of marketing consultants who are required to make conscious marketing decisions.