International Marketing Environment Research Paper

International Marketing Environment - Research Paper Example Evidently, all these constraints affect the flexibility of doing international trade. A country while exporting its domestic products is benefited by the foreign exchange income as well as by the new employment opportunities. On the other hand, while importing goods from other countries, a ‘consumer surplus’ is being created when the consumers are benefited by the availability of better products at a lesser price. Utilizing the both benefits, government has the ethical responsibility to facilitate international trade to those who are willing to invest in the international markets. However, when considerations about the local market come to the surface, the introduction of the international trade becomes a job that is easier said than done. To illustrate, the victims of the international trade are the local businesses that are not able to compete with foreign products. In such situation, the role of the government becomes more critical on taking appropriate actions which will not badly affect both the groups. The foremost five levels of economic integration are Free trade area, Customs union, Common market, Economic union, and Political union. As the international trade is widening and more countries are ready and willing to invest in it, the level of economic integration has to be refurnished between various groups of nations. It is not practicable to think that all countries would follow the precise pattern of economic integration, but we can expect for the development of basic arrangements such as lowering and abolishing the hurdles to trade and creating an economical environment. New economic integration techniques must be brought up to cope up with the new international trade needs. As Holden (2003) points out, a most mentioned example for this is the European Union, which has evolved from a collection of autarkical nations to develop into a completely integrated economic unit. At the outbreak of globalization, economic integration had been one of the forces behind the international trade making. We can sort that fact out from the performance of the multinational organizations that have developed into the most profitable business concerns in the recent years. An organization must be aware of the culture and language of the country where it is going to make its huge investment. With the successful take off, international business will rely more towards the economic integration for its future achievements on the global scale. II. Economical and Cultural elements of International Marketing Environment Economic, cultural, political, technological, social, and legal elements are most important for the international marketing environment (The legal, political/ trade environment). Many write down the importance of economic element as, â€Å"With money all things are possible, without money many things are impossible†. The economic element plays a vital role in the international marketing environment. A technologically adv anced industrial product requires a technologically advanced buyer. In the same way, luxury products are not meant to be sold to low-income consumers. Therefore, international market for high-priced luxury items of food, furniture and durable products need large support of consumers who have the capacity to make large purchase from these hypermarkets. However, the global economic growth today has been at pace comparing to that of the previous year.