Marketing in a global environment

Marketing in a Global Environment

Language Differences

Language barrier is a major problem when venturing out into a foreign market to sell physical commodities as the locals could encounter unique problems when it comes to understanding product attributes amongst other things. This may inform poor sales due to lack of sufficient information about a given product and its usage. For instance, in the U.S. The usage of chopsticks is different from the usage of the same in China (Doole and Rowe 158).

However, language differences present an opportunity for the marketer to incorporate online marketing as well as use live shows in the foreign markets as non-verbal communication comes in handy. The latter are seen as more productive ways of marketing new products as consumers will be presented with various definitions of product usage hence demystifying the already present obstacle (Doole 158).

Currency Difference

Lack of common currency or inability to gain uniform modes of exchange is an issue when expanding to foreign markets as one party is bound to feel oppressed due to disparities originating from transactions. Similarly, it is often difficult to quantify labor in such a trading agreement hence resulting probable of exploitation scenarios. Consequently, the rates and tariffs in the new market may be charged differently hence creating bigger problems as calculations may have to be modified significantly. This may prove to be quite hectic for an investor (Renee 346).

Despite the fact that the absence of a common currency may end up bringing about negative effects when making an entry into a foreign physical products marketplace, the trading countries may use this opportunity to embrace a common markets protocol.

3. Cultural Differences

Cultural differences pose significant threat as far as the entry of a physical commodity in a foreign market is concerned. This is mainly because various cultures usually prefer significantly distinct ways of transacting business. For instance in some countries, business partners are in most cases close friends or even family. In that regard, any foreign investor could encounter some problems setting base in such countries. However, in some cultures, the most significant aspect of venturing into a foreign market depends on ones credibility.

It is therefore important to note that investors and marketers alike must carry out adequate research as this could go a long way towards enhancing an understanding of what is required in the new business environment. Similarly, tastes and preferences vary between cultures such that the physical product could realize significant sales in one market and dismal sales in another (Doole 75).

Cultural differences act as opportunities for the foreign investor to entice a wide array of consumers with various preferences and hence customize the physical products to enhance their appeal. Similarly, the opportunity to interact with diverse cultures in the foreign market creates networks that are vital in marketing physical products in new markets (Renee 348).

4. Economic Systems