Saturday, July 07, 2012

Social factors in international marketing

Marketing experts included reference groups, family, roles and status within social factors. It also include both objective and subjective elements about the socio-cultural forces such as language, work habits, customs, religion and values.

Growth and movement in populations around the world are important factors heralding social changes. 80%of the world’s population live in developing countries, by 2025 this is likely to reach 85%.

This has a powerful implications for international marketing. The explosive population growth is a boon to international business for selling goods in untapped markets of the world.

Europe and Japan both have strong social safety nets for their older populations. These social programs increase the tax burden on the younger population. The increased tax burden decreases the ability to purchase.

Developing countries, on the other hand, have a much larger population of younger people, With shrinking family sizes, these younger people have higher disposable incomes. This market has higher potential for international marketers.
Social factors in international marketing
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