Marketing in Africa

M. Comm.Markets in different countries around the world are subject to a myriad of influences. Some of the factors influencing international markets are controllable and some are uncontrollable. If a company wants to enter the international marketing arena it is important to familiarise itself with as many of these factors that could influence the success or failure of its marketing efforts. The development of successful international marketing strategies is based on a thorough understanding of the similarities and differences that exist in different countries. There are various approaches that can be used to structure an analysis of the international environment. Irrespective of which approach a company use, it should gain information on the social and cultural aspects of the population in the country targeted for a new marketing venture. It should also familiarise itself with the legal system operating in the country, as well as the political environment in that country. The economic factors such as the size and growth of the market, the total spending power in the market as well as the availability of physical and economical infrastructure are important considerations when planning entry into a new market. The level of technological development in a country is an other important factor for consideration, but is less subject to country boundaries than the other factors. Competition is an important force in international markets. Competition is increasing in most markets in the world as a result of non-domestic companies entering new markets and taking market share. The fluctuation in the currency of a country as well as the differences in inflation rates between the home and the host countries is another important consideration for companies planning to enter international markets