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SOCIO-CULTURAL ENVIRONMENT.

SPECIAL DIFFICULTIES IN INTERNATIONAL BUSINESS What make international business strategy different from the domestic are the differences in the marketing environment. The important special problems in international marketing are given below: 1. POLITICAL AND LEGAL DIFFERENCES The political and legal environment of foreign markets is different from that of the domestic. The complexity generally increases as the number of countries in which a company does business increases. It should also be noted that the political and legal environment is not the same in all provinces of many home markets. For example, the political and legal environment is not exactly the same in all the states of India. 2. CULTURAL DIFFERENCES The cultural differences, is one of the most difficult problems in international marketing. Many domestic markets, however, are also not free from cultural diversity. 3. ECONOMIC DIFFERENCES The economic environment may vary from country to country. 4. DIFFERENCES IN THE CURRENCY UNIT The currency unit varies from nation to nation. This may sometimes cause problems of currency convertibility, besides the problems of exchange rate fluctuations. The monetary system and regulations may also vary. 5. DIFFERENCES IN THE LANGUAGE An international marketer often encounters problems arising out of the differences in the language. Even when the same language is used in different countries, the same words of terms may have different meanings. The language problem, however, is not something peculiar to the international marketing. For example: the multiplicity of languages in India. 6. DIFFERENCES IN THE MARKETING INFRASTRUCTURE The availability and nature of the marketing facilities available in different countries may vary widely. For example, an advertising medium very effective in one market may not be available or may be underdeveloped in another market.