THINK GLOBAL ACT LOCAL

The article looks “THINK GLOBAL, ACT LOCAL” into the big picture of international marketing and on the opportunities and pitfalls of doing business in a world that seems to be getting smaller by the minute.
The major factors that need to be considered before making the leaps to foreign markets are: Economic Environment, Market condition, Political/legal condition, Decision process and Cultural environment.
There are various different in today’s business world and firms define the Scope of Their Markets by segmenting them into different sectors.

Domestic firm is one that confines its sales and marketing efforts to its home market. Billy Bob’s Barbecue’s owner believes that the unique taste of its products makes it popular in the U.S., but he doesn’t ship outside the U.S. because he believes that taste would not be popular in foreign countries.
Exporting firm expands sales by offering its products for sale in other countries. Good example would be Toyota exporting car ...