Most if not all companies want growth and improved sales. Moving into the global economy through a worldwide marketing and sales initiative is one way to increase our market size. The market may change drastically internationally and further research must be done to continue successful ventures by analyzing the global market segments of interest. That being said if Alarm Buddy were to consider taking advantage of a global environment we must realize the difference in culture, working environment, and laws that govern that specific locale. Global marketing usually goes through two phases: a rapid growth phase and a slower growth phase. Understanding the global segments of interest, culture, laws and the aforementioned phases is integral for a successful global marketing campaign and growth.
Culture, Environment, and Laws Since the …show more content…
The first phase as expected with the Alarm Buddy product will be comprised of rapid growth, high sales and high profits (Gould, 2008). Some of the issues that arise during this time is trying to work with building relationships with customers, suppliers and governments. To overcome this hurdle we must consider a specific infrastructure and create a mode of thinking collectively to create these relationships (Caslione, 2003). This would mean we would work to understand our customers ' buying behavior and their country 's culture to build a relationship from the beginning. Our product could become problematic when moving to make overseas sales due to the fact that caffeine patches are regulated under different groups for each country. For instance in the United States our patches would be regulated by the Food and Drug Administration while in Germany it would be regulated by The German Federal Institute for Risk Assessment (BfR). Having to abide by multiple regulating organizations would be the largest issue with Alarm Buddy going
Culture, Environment, and Laws Since the …show more content…
The first phase as expected with the Alarm Buddy product will be comprised of rapid growth, high sales and high profits (Gould, 2008). Some of the issues that arise during this time is trying to work with building relationships with customers, suppliers and governments. To overcome this hurdle we must consider a specific infrastructure and create a mode of thinking collectively to create these relationships (Caslione, 2003). This would mean we would work to understand our customers ' buying behavior and their country 's culture to build a relationship from the beginning. Our product could become problematic when moving to make overseas sales due to the fact that caffeine patches are regulated under different groups for each country. For instance in the United States our patches would be regulated by the Food and Drug Administration while in Germany it would be regulated by The German Federal Institute for Risk Assessment (BfR). Having to abide by multiple regulating organizations would be the largest issue with Alarm Buddy going