International Marketing

Write one paragraph comment for each post:

1) I do think that the internet help accelerates the process of economic growth. In addition to the growth factors previously discussed, a countrys investment in information technology (IT) is an important key to economic growth (268). A great example is the cellular phone, the book also talks about this. The cellular phone has already advanced economic growth so much that there is so much to go for still. While new, innovative electronic technologies can be the key to a sustainable future for developed and developing nations alike, they also can create initial problems (268). The Internet has become a great way for communication in so many ways, people can have meetings on their computers and even communicate with employees around the country.Traveling can be very expensive and working with other countries would be hard if you had to travel all the time to communicate. Technology has made lives so much easier and make lots of companies grow in the economy just by being about to communicate with fellow workers. The internet accelerates the process of economic growth by speeding up the diffusion of new technologies to emerging economies (269).

2) Infrastructure is incredibly important to the economic and I would say social growth as well for a country. Infrastructure is pretty much the basics needed to help the well being of any town, city, country, company, etc. With the basics being roads, buildings, power, and networks. Without having any of that then I can't see your country growing at all. The book gives us good insight on how a country and to a lesser extent a company would look with zero infrastructure, page 270 states "Business efficiency is affected by the presence or absence of financial and commercial service infrastructure found within a country" Chapter 9 tells us "Countries begin to lose economic development ground when their infrastructure cannot support an expanding population and economy." You could make a solid claim that a powerful infrastructure is the biggest point in making a country successful and well-running. This would be the main draw in people wanting to live there and for businesses to set up shop there.

3) One action a company should take is in pricing. Take the example from Colgate, who changed their pricing to a single price across all of Europe (313). As more countries join the EU, the pricing for certain products may have to change. Due to the change of currency the country will take. However, it is also important to know and understand the culture and values of each country. What may be considered to be high end may be considered to be on the lower end of the spectrum (313-314). Another action a company can do is reducing the amount of "...brands they produce to focus on advertising and promotion efforts" (314). Focus on having a certain product or service having the spotlight in other countries. While having the other brand products market around the world (314). This is due to the lack of European competitive distribution systems that help support brands that are smaller (314). This should also come from knowing your audience and the laws where one it marketing in.