THE CONCEPT OF Global marketing

In the current world, the idea of global marketing is crucial, especially in light of the advantages that could result from it. Global marketing, when done well, can significantly aid in a company’s ascent to the next level. Environmental, or external to the company, elements, which have a significant impact on global marketing, must be taken into account. This is especially true when entering a country like Mexico that has a very distinct culture.

Due to its geographical location, expanding middle class, and developing economy, Mexico is a vital site in terms of international marketing. However, for success in the Mexican market, a variety of factors must be considered in detail because they decide the outcome of the global marketing efforts. The factors referred to include culture, politics, economic stability, religion, and other environmental factors. There are significant differences in culture between the United States and Mexico. Knowledge of Spanish is also relevant in this context since it gives access to a large number of Mexicans who only speak Spanish. Religion is also an important consideration when it comes to global marketing in Mexico. Mexico is predominantly Catholic, and religion is usually a big influence on all aspects of life. As such consideration for religion should always be present when strategizing.

Regarding politics, Mexico is politically stable although corruption and bureaucracy in the political system could be a significant hurdle for global marketing efforts (Sada, 2014). Economically, Mexico is the second largest economy is Latin America. However, in 2016 it suffered from the global reduction in economic growth. The victory of Donald Trump has also led to a 20 percent drop in the currency of Mexico. This would unquestionably have an effect on the outcomes of a global marketing campaign. Another environmental factor worth consideration in Mexico is technology. Despite Mexico being the second- largest economy in Latin America, it has a 36 percent Internet connectivity rate which is pretty low (Nicholson, 2014).

References

Nicholson, C. (2014). Global Marketing Spotlight: Mexico. Retrieved from http://lingualinx.com/blog/global-marketing-spotlight-mexico/

Sada, A. (2014). Mexico in 2014: Political and Economic Outlook. Retrieved from http://www.as-coa.org/articles/summary-mexico-2014-political-and-economic-outlook