Marketing > STUDY GUIDE > Global Markets and Business Expansion 2023 Update (All)

Global Markets and Business Expansion 2023 Update

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Opportunitiesfor a firm to trade internationally: • Selling products in overseas markets • Obtaining raw materialsfrom overseas • Setting up an overseas presence • Moving production abroad... • Relocating to another country The effects of any push and pull factors and a business’s response to them, depends on nature of business, its market and its products. Push Factor: ‘Push’ a business away from domestic markets/-ve factors in domestic market • Motivate a firm to look at business opps in other countries • Often threatsto firm’s profitability and survival in current market 1. Saturated Markets (all consumer demand has been/being met) - Few opps for sales growth - Moving to an unsaturated overseas market (emerging) can increase sales 2. Competition - High levels = reduce sales and profitability to a point where firms are forced to go abroad 3. Changes in domestic gov policies (e.g. taxes rise = increase costs) 4. Changes in local tastes and a decrease in demand for their product in the domestic marke CONTNUES.... [Show More]

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