Browse through topics for Senior Secondary 3 1st, 2nd and 3rd Terms, All Weeks, All Subjects
Term: 1st Term
Week: 5
Class: Senior Secondary School 3
Age: 17 years
Duration: 40 minutes of 2 periods each
Date:
Subject: Marketing
Topic:- Meaning and reasons for International marketing V
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source
INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures
INSTRUCTIONAL PROCEDURES
PERIOD 1-2
|
PRESENTATION |
TEACHER’S ACTIVITY |
STUDENT’S ACTIVITY |
|
STEP 1 INTRODUCTION |
The teacher reviews the previous lesson on international marketing |
Students pay attention |
|
STEP 2 EXPLANATION |
She lists the factors that affect international marketing |
Students pay attention and participates |
|
STEP 3 DEMONSTRATION |
She discusses each factor |
Students pay attention and participate |
|
STEP 4 NOTE TAKING |
The teacher writes a summarized note on the board |
The students copy the note in their books |
NOTE
FACTORS THAT AFFECT INTERNATIONAL MARKETING
The social factors of a nation determine the value system of the society, which in turn affect the International Marketing mix. Social factors are culture, caste, customs, languages, life style, standard of living, climate and marketing infrastructure etc. The demand for goods and services is affected by all these factors.
There is a lot of change in quality of life style of the people. They are willing to purchase many consumer durables like T.V., Fridge, Computer etc., even when they cannot afford to buy it. It became possible because of availability of hire purchase system or installment basis.
Cultural factors also influence every aspect of International Marketing. International marketing decisions are based on recognition of needs and wants of the customers. The cultural factors help to understand the behaviour patterns and life style of the societies culture, in which individual has grown up. Thus an individual’s perception is groomed and influenced by cultural factors.
The economic factors are the most significant determinants of International Marketing. They also affect the survival of a business organization and its success.
The economic factors can be studied under following categories:
(i) Exim Policy of the Country
(ii) Commercial Policy
(iii) Financial system
(iv) Monetary system
(v) Currency restrictions
(vi) Inflation/ Deflation.
The decision regarding international marketing mix is taken by keeping in mind the above stated economic factors which determine the economic environment of a country. Therefore, before going for export business or before going for any decision regarding international marketing mix, it is necessary to examine the economic factors that determines the economic environment of a country.
Competition is an important determinant of international marketing mix. The business firm has to face competition in his home market as well as in the international market. The international marketing mix is decided by keeping in mind the strategies of the competitors for the product, price, place and promotion.
The International Marketing mix is strongly affected by the political environment of the country. A marketer has to operate its business activities in a given political factors. The business operations are greatly affected by the political constraints at different levels. The change in political scenario leads to change in the government policies.
The following impact is associated with the political factors- (i) If the government is stable, it leads to stable policies relating to the business (ii) If frequent changes are there in the government, then it leads to frequent changes in the policies of the government relating to the business operations.
The political factors play a major role in deciding the operation of a business organization in the international business. Thus a business organization has to study and analyse the political environment of a particular country, if it has decided to carry out its business operations.
International Marketing decisions are influenced by legal environment pertaining to competition, price setting, taxation, law etc. The legal system of a particular country should be studied well before doing business with that country.
International Marketing mix is influenced by the Logistics. It includes mode of transportation, cost of transportation, inventory management, material handling and warehousing etc. It is necessary to study all these factors, before go in for any decision regarding international marketing mix.
The analysis of the risk factor is an important task to be performed before taking the decisions relating to the international marketing mix.
EVALUATION: 1. List and explain the factors that affect international marketing
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively