MKT 401 Marketing Strategy Chapter 12: A Comprehensive Lecture Notes
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Course
MKT401
Institution
Universität Mannheim (UMA)
Book
Marketing Management
Welcome to this comprehensive collection of lecture notes on marketing strategy MKT 401 in UniMannheim! These notes cover a wide range of essential concepts and techniques, including target market segmentation, the marketing mix, SWOT analysis, competitive analysis, customer personas, brand messagi...
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MKT 401 – Lecture Notes
Chapter 12
12. International Marketing Strategy
A PESTLE analysis is a tool that is used to assess the external factors that can impact
an organization or business. It stands for Political, Economic, Sociocultural,
Technological, Legal, and Environmental factors. These factors can have a significant
impact on an organization's operations and can influence its decision-making
processes.
A thorough assessment of international markets using a PESTLE analysis is a key to
success because it helps organizations to understand the various external factors that
may impact their operations in different countries. By considering these factors,
organizations can better understand the risks and opportunities presented by
different markets and make informed decisions about how to enter and operate in
these markets.
Some examples of the types of factors that might be considered in a PESTLE analysis
of international markets include:
• Political: The political stability and government policies of a country can have a
significant impact on an organization's operations. For example, a country with
high levels of political instability may be seen as a risky place to do business,
while a country with favorable government policies may be more attractive to
investors.
, • Economic: The economic conditions of a country, such as GDP, inflation rates,
and unemployment levels, can impact an organization's ability to do business.
A country with a strong economy may offer more opportunities for growth,
while a country with a weak economy may present more challenges.
• Sociocultural: The values, attitudes, and behaviors of a country's population can
impact an organization's operations. For example, cultural differences in
attitudes towards gender roles, religion, or social norms can influence how an
organization markets its products or services.
• Technological: The level of technological development in a country can impact
an organization's operations. A country with advanced technology may offer
more opportunities for innovation, while a country with limited technology may
present more challenges.
• Legal: The legal and regulatory environment of a country can impact an
organization's operations. For example, a country with strict laws governing
intellectual property rights may offer more protection for an organization's
assets, while a country with less stringent laws may present more risks.
• Environmental: The physical and natural environment of a country can impact
an organization's operations. For example, a country with a stable climate may
be more attractive for agriculture or tourism, while a country with frequent
natural disasters may present more challenges.
Overall, a PESTLE analysis is an important tool for organizations to consider when
assessing the risks and opportunities presented by international markets. By
thoroughly considering the political, economic, sociocultural, technological, legal, and
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