Why Someone Should Be Engaged In International Business: Exemplar Essay To Follow

In light of current global marketing economy providing numerous marketing opportunities even to small business organizations to promote their products and services internationally, it is always advantageous to do international business. In the first place, international marketing decreases the risk of business units by opening wide opportunities even if they fail in the local market. Adapting to an international market scenario provides valuable learning to marketers to position their business offerings. More importantly, involving in international marketing provides business units with a great deal of flexibility. For instance, a product that does not do well in the local market can perform well in another region or another corner of the world. This saves business owners from the embarrassment of having to push unsold products in the local market at high discounts. Also, global marketing gives business organizations the opportunity of introducing a wide range of products that gives them high market leverage.
Next, a business firm can expand to a global market more conveniently when it faces local competition. For instance, it can reach out to international markets where competition is relatively less. Also, one can easily attract foreign consumers who have been buying comparatively lower quality products earlier. International business protects marketers against controls inflicted by local politics, socio-economy, culture or life style of customers. For instance, a business company may not sell its food products that are banned by food safety standards or laws of a particular country. However, these products can be sold in several other countries that do not impose any such restrictions. On the other hand, a natural disaster or a political turmoil in one country may not allow a product to be sold in a particular country whereas there are numerous takers for the same product elsewhere. Doing business in various countries teaches new ways of dealing with customers and doing things effectively; the new knowledge and skills can be applied to different markets.