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International marketing reflects on both global and local considerations.
Foreign markets consist of customers, who belong to completely different cultures and their own unique values, which can strongly influence their outlook on their business dealings. Therefore, the pioneers and leaders of the marketing world not only have to acknowledge those values, but also educate themselves about certain cultural practices in order to enhance their own growth, both in terms of revenues and popularity. They have to choose the extent to which they abide by foreign market practices while maintaining a core of ethical and social values on which they would refuse to compromise.
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Today, the ethical obligations practiced by multinational enterprises are commercial governance, accountability, intellectual property rights, and unfortunately also a level of dishonesty. When a certain business is expanded into new countries’ markets, there comes a whole host of issues. And even though the opportunity is huge, the barriers can be tricky to overcome. It is this route of moral responsibility that plays quite an important role in the International marketing. Universal companies are armed with considerable facts and knowledge on how the locals act in response to a specific cultural pulse. But it can’t be stated for sure, as to how far this ethical route matters in business in the ‘long run’, as it progresses and flourishes.
Plus, the division between the developed and underdeveloped countries has become a major issue regarding these ethics. Previously it all depended upon the environment and outcomes, and competition was not perhaps a particular stiff. But today, traders are aware of the potential they have in their trading strategy. New businesses should not be restricted to strategies about their own products and promotional techniques, but also deeply value the importance of certain cultural restrictions and core values, in order to leave a good and lasting impression on their own brands.
