International Market Opportunities
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The Impact of Globalisation
Globalisation has had an increasingly significant impact on international marketing. More and more markets become open to international organisations as the cost and complexity of operating overseas is reduced by globalisation.
One of the key drivers of increased international marketing has been reduced costs as a result of globalisation. Organisations are able to access cheap resources and labour in developing countries. This not only allows them to price their products lower, but also opens up a broader market of people with the disposable income to buy more goods and services.
New and ever improving communications technology has spread throughout the world, allowing international marketing campaigns to be coordinated all from a domestic base. The internet and mobile phones have opened up entirely new international industries with endless potential. Globalisation has changed the way people shop. Consumers are better able to shop around for good deals and are prepared to buy from overseas without necessarily viewing products first hand.
Globalisation has also increased market competition, in turn increasing the importance of effective international marketing. Many organisations cannot rely on the fact that they are the only player in a long held domestic market, there are new competitors from overseas appearing all the time.
Transport and distribution systems are more efficient than ever before, making it easier, faster and cheaper for businesses to get their products to consumers. Electronic transfers have also made making and receiving international payments faster and more secure.
Finance is more readily available to both consumers and organisations, thanks to the globalisation of many financial providers. Investors are interested in spreading their investments over a wider range of markets to reduce their overall level of risk. An increased availability of capital makes it easier for organisations to finance their international marketing efforts.
Globalisation will continue to bring more and more buyers and sellers together into the future. The organisations that are able to make the most of the opportunities globalisation provides stand to the best chance of succeeding in their international marketing campaigns.