International Marketing: Developing Business Relationships in Mexico

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This report delves into the intricacies of developing successful business relationships in Mexico, emphasizing the importance of understanding cultural nuances, legal processes, and marketing strategies. It outlines a five-stage process for establishing international marketing partnerships, focusing on education about the partner's customers, currency fluctuations, legal knowledge, focus groups, and competitor analysis. The report further examines the impact of culture and language on international marketing, defining culture, exploring approaches to studying culture, and analyzing its various elements. It highlights the significance of linguistic requirements and provides practical strategies for overcoming language barriers. The report concludes by emphasizing the importance of adapting marketing strategies to the specific context of Mexico to foster strong and enduring business relationships. The document also examines the legal and managerial functions necessary for a successful international business venture.
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Developing Business Relationships in Mexico 1
Developing Business Relationships in Mexico
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Developing Business Relationships in Mexico 2
Table of Contents
Marketing international business.................................................................................................3
Introduction................................................................................................................................3
Variables.........................................................................................................................................3
The Legal Process.......................................................................................................................3
Managerial function...................................................................................................................4
Social process..............................................................................................................................5
Marketing concept.........................................................................................................................5
Various stages and their objectives..........................................................................................5
The Cultural and Linguistic Requirements................................................................................9
The chapter’s structure.............................................................................................................9
Definition of culture.................................................................................................................10
Approaches used to study culture...........................................................................................10
Elements of culture..................................................................................................................11
Material culture....................................................................................................................11
Language...............................................................................................................................11
Aesthetics...............................................................................................................................11
Education..............................................................................................................................12
Religion..................................................................................................................................12
Language barriers in Mexico..................................................................................................13
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Developing Business Relationships in Mexico 3
Employ Native Speakers......................................................................................................13
Work with International Search Marketing Specialists...................................................13
Partner with a Translation Agency....................................................................................13
Conclusion.................................................................................................................................14
Bibliography.............................................................................................................................15
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Developing Business Relationships in Mexico 4
Marketing international business
Introduction
Marketing is defined as the function of the organization and the processes set for the creation,
communication and the process of delivering the value to the customers and for the management
relationship in the ways that can benefit the stakeholder and the organization. International
marketing refers to the application of these principles internationally.
It can also be defined as the societal process in which the individuals and the groups can obtain
what they want and the need by creating, offering and exchanging the products and the services
of value with others freely.
International marketing embraces all the activities of the business which are involved in getting
both goods and services from the produces to the customers. Marketing is concerned with all
those steps whereby goods are progressing to the final customers (Brassington and Pettitt, 2000).
Variables
There are five stages that will ensure a successful establishment of an international marketing
partner. Education about the partner’s customers is the first to ensure that there is a mutual
understanding. The fact that our company could not successfully cooperate is because of the fact
that there was no mutual understanding of their cultures, a factor which leads to mistrust. The
following part presents various factors which should be taken into consideration as we evaluate
an everlasting international supplier, Mexico.
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Developing Business Relationships in Mexico 5
The Legal Process
The ownership of goods and services are transferred from the sellers or suppliers in this case to
those people who buy the products and the services and also goods are transferred from the
producers to the users through the process of marketing.
There is the need for legal knowledge both governing our local market and our international
partner. This is one of the ways that will ensure that our principles are well guarded basing the
fact that there will be unlikelihood of neither them nor us violating the legally stipulated terms.
Legally, the process whereby the enterprises, the institution or the organization can interact with
the stakeholders and the customers with the aim of earning the profit, satisfaction to customers
and the management of the relationship. It is the role of activities of the business which gives the
direction of the flow of products and services from the people who produce such goods and
services (producers) to the people who can use the produced goods and services (users) or the
consumers of the product (Brassington and Pettitt, 2000)
. The fact that Mexico will be working for our satisfaction, a factor that will lead to it making
profit requires that we as well endeavor to cooperate with it in many ways possible including
respecting their current norms and culture.
Managerial function
In accordance with the approach of managerial and the approach of the system, international
marketing combines designed activities to produce a profit by creating, ascertaining, stimulation
and the satisfaction of the needs and the wants of the segment selected in the market.
This approach emphasizes how the organization of the individual process the marketing and
developing the strategic of marketing activities dimensions. As a way of seeking a successful
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Developing Business Relationships in Mexico 6
relationship with Mexico, we need to embrace such managerial values so as to strengthen our
ties. The fact that we need much of their products, which marks the input for our production
requires that we establish these managerial functions.
Social process
International marketing act as the delivery of the standards of living in the society. It has helped
in knowing and underrating of the change of the customer’s needs and the wants. Due to our
understanding of our current and potential customers, we need to establish terms with Mexico
that will ensure that we get a constant supply of products that will, in turn, benefit us tie our
relationship with our customers. The social process has also helped in managing efficiency and
effectively in supplying the products and the services to the society. It also helps in providing the
distribution system effectively, and the payment processing system has also been effective with
this marketing strategies.
Marketing act as a philosophy based on the orientation of the customer and the satisfaction of the
customer Marketing had double objectives which are making profit and satisfaction to the
customer’s needs.
Marketing concept
This is a process whereby the firms or the businesses can do analysis regarding the customer’s
needs and making the decision to satisfy those needs better than the competition
Various stages and their objectives
For our company to relate in a friendly way, there is need to establish various stages that will
enhance development. It is because of these stages that our relation with Mexico will be boosted.
The country’s culture among other factors is worth consideration. The Mexican’s norms, our
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Developing Business Relationships in Mexico 7
needs from them and their governing rules and regulations are other factors that must be put into
consideration before engaging in our business relationship. Basing on the fact that our
relationship with China did not proceed successfully, there is much need that our establishment
for all the factors that may have been ignored while transacting with China must be critically
looked at for our successful relationship with Mexico.
Before we start dealing with Mexico, there is much need for us to identify the motivations
behind our decision. First, our decision is basically upon our mutual understanding with
Mexican’s culture, activities, and the business’ general being. There are various critical elements
behind the international marketplace that are worth are crucial for our company’s decision. We
need to make an examination of how both our previous strategies and the intended ones are. We
need to examine how our domestic plans regarding Mexican’s requirements are received by
them.
The following part presents five steps that will help us prepare our business to enter into a deal
with Mexico.
1. Education about the customs and the decorum of the international market business; it is
important for us to have an explicit history of Mexico. Various elements which seem
unimportant are highly beneficial for us. Such elements including how to greet a person, their
lunch hours and their major religious aspects. Theses element will enhance learnability for more
critical issues within their country. The way that we communicate with them is as important as
any other communication. It will serve us right especially because we will be passing a lot of
information regularly pertaining our needs from them. Like any other country, Mexico has its
way of communicating based on their societal norms.
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Developing Business Relationships in Mexico 8
The Objectives of this stage
To ensure learnability for much more complex issues in their market
To enable us to understand their business norms and practices
To know how well we need to relate regarding timing and other aspects
2. Gathering of information pertaining the Mexican’s current currency value and their
fluctuations on importation and exportation timelines. The main importance of this fact is that
the deal that we make with Mexico now may be the way it is for a long time. In fact, the deal can
change at any time, a factor that may disadvantage either them or us especially if the reaping
time is long. The deal that we are negotiating now may have a difference of fifteen percent after
only a few months which may be time to finalize the transaction. It is, therefore, important for us
to make consideration of their currency fluctuations and their currency expectation in a given
time. Currency predictors may be used in this case. If possible, we need to lock in the currency
rates or make a deal with them that are beyond the fluctuations of the currency. It is much better
for us to have less speculation regarding this issue.
Objectives of this stage
To prepare ourselves for changed and unexpected returns
To enable us to make a good decision regarding the good timing to make a deal with them
To gain an insight of when to make offers and when not to make them
To enable us to predict how events may be so as to make a decision on a number of goods to
import from them at a given time.
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Developing Business Relationships in Mexico 9
3. Seeking knowledge about the laws governing Mexican’s business; for us to make a lasting
and a successful deal with Mexico, we need to have our local representation with them. These
representatives will help us to navigate any unpredictable deviation and apply the applicable
laws as per the provisions of the contract and their terminologies. Having knowledge of their
laws will guide us in any legal decision making required and also guide us with all respects.
Therefore, we need to have knowledge of the jurisdictions governing our contract before it bind
us legally.
Objectives for this stage
To enable us to apply legal procedures whenever any issue requiring its knowledge arrives.
To enable us to make good decisions by putting Mexican’s laws into consideration when
making various deals with them.
To have knowledge of the jurisdictions governing our contract before it bind us legally.
4. Conducting focus groups to act as a test for the whole expectation of our relationship with
Mexico. The fact that our time has been dedicated to learning Mexican’s cultures means that we
have to look for ways in which we will reach them in a different but more convenient way. We
need to devise an approach which will make our services to seem suitable for both of us and
extensively to the external markets which buy our goods and services. For us to conduct
ourselves in a respectful manner, we need to study the Mexican country including its personal
customs and the professional ones. This will also give a signal to the Mexican company that we
value their customs since we are well acquainted with their protocol, a factor that will enhance
being served by good will.
Objectives of this stage
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Developing Business Relationships in Mexico 10
To have knowledge of their general being that will guide us to make guided decisions in all
aspects of that regard.
5. Finding out what our competition has done; this is the final step that we should consider. It
is much related to how our competitors who have once entered into a deal with Mexico ended up.
Here, we will be trying to figure out the obstacles that are likely to be faced just the way our
competitors faced. We also try to look at the approaches that they used to counter such obstacles
and whether or not they were successful. Once that is done, it is important for us to devise better
ways that we use to deal with the said obstacles.
Objectives of this stage
To be able to have knowledge about the possible obstacles within our relationship so that we can
devise measures to curb them in advance
To ensure a planned and controllable input for our company
To be able to establish controlling measures in our organization
The Cultural and Linguistic Requirements
The following are the objectives of this chapter:
to critically define what culture is and various ways in which they can be devised to
correctly launch it
to give a general knowledge on the effects of culture in international marketing;
particularly in Mexico
to evaluate the importance of studying culture about marketing
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The chapter’s structure
This chapter starts with defining what culture is and indeed, its constituent elements after which
various approaches to culminating culture are described. There is much emphasis on the need to
study and critically evaluate carefully the impact of culture in marketing particularly in Mexico.
If culture is not taken into consideration, there is going to be the likelihood that the entire deal
may fail (Rugimbana, Nwankwo, and Nwanko, 2002)
Definition of culture
Culture is not genealogical in transmission. It is not innate as speculated by many people also.
Culture has facets which are interrelated. These facets, are shared among people in a given
context. These people are of course bound by a given similarity which drives them in a common
direction. Cultures exist in given communities, cutting side by side a given region differentiated
by a given belief. Color also determines what culture is going to be. The popularity of color may
consequently lead to a strong culture, a culture that binds all the people in that given racial
domain.
In studying culture, standardization versus adaptation are the major rivals in trying to vividly
engage what culture is. The grading of age, the rituals of religion, and such games as athletics are
among the aspects that standardization is seeking to explain culture in. There is much more
preference about validity in standardization rather than the adoption. This is because it pertains
more of cultural difference between various communities.
Considering the economic factors, culture can be said to be one of the most important elements
about the environmental variable. Similarly, culture consideration requires an intellectual insight
for it to have a considerable implication in a business environment.
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Developing Business Relationships in Mexico 12
Approaches used to study culture
There are various approaches used to study culture as stated by Keegan (1988). These
approaches include the anthropological approach, the Maclow’s approach, and the diffusion
theory among others.
Elements of culture
The following part presents the various elements of culture alongside their impact on the
Mexican relationship with our company.
Material culture
The cultural tools, artifacts, and various cultural technology add up to material culture. For an
international marketing to take place, we need to evaluate such requirements as transportation,
the certainty of power and the way of communication. Various approaches such as the input
tables may be used to evaluate the material culture. The fact that Mexico and we are yet to make
lasting deal calls for a critical evaluation of the material culture. Many marketing aspects, in fact,
all, are affected by the cultural marketing in one way or another.
Language
The nature and values of societies are reflected by culture. Apart from main languages are other
sub-cultural ones such as the dialects which also need to be put into consideration. Different
countries have a variety of languages, from one to many languages. This is critical in the sense
that a country entering into a business relationship need to have knowledge for all of them for it
to understand the terms of the business as set by the two of them. Language is the main element
that may cause communication problem if taken care of. For us to engage well with the
Mexicans, we need to learn their language very well. Among the ways of doing this is by
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