An insight into international markets in global marketing and international trade

 After researching about this topic further, I wanted to reflect on different international markets in the world and their impact on the way corporations’ market themselves focusing on zones such as the EU market, (or also known as the Eurozone), Asian countries specifically China and India.

Firstly, the EU marketing strategy operates in a competitive way for the Eurozone market. For example, their focus is to have carefree access to goods throughout Europe’s barriers and create a so called “free market.” This is greatly beneficial to accessing goods because it leads to smooth business transactions therefore making the economy thrive and allowing the workforce to not only expand but also compete with different global markets around the globe which promotes innovation. Another key factor is currency used in each of these different economies to keep their value currency on top of their trade advantage for their specific exports. The Eurozone in particular uses the euro (€), which brings certain advantages to consumers within the community that are controlled by the same bank, in this case the European Central Bank (ECB).

The other examples I looked at, was that of both economies of China and India as they are extensive economies with crucial influence in areas such as mass manufacturing and low-cost labour. An example of this is Huawei, one of China’s largest smartphones brand which in 2018 sales exceeded $52 billion for its consumer products making it a remarkably successful business, operating in 170 different countries. This might be because of the Internet boom that happened in the past few years, leading the massive Chinese population to swift from in person to online stores such as Taobao, a huge online retailer part of the largest e-commerce company around the world and its founder, Jack Ma, reported that e-commerce has ‘become a lifestyle’. On the contrary, for the Indian market despite having a large population, its target market still wishes to expand more globally due to lack of growth incomes therefore leading to a high rate of child labour. According to official statistics 1 in 10 children are reported as “neither working nor attending an education institution, girls (4.6 million) outnumber boys (3.9 million).” This leads to a trade deficit between India and China, which rose up to $72.9 billion just this year. However India’s international trade still has potential for growth due to its wide-reaching economy and immense consumer market.

Reference List:

Kotler, P., Armstrong, G., Harris, L.C. and Hongwei, H. (2020) Principles of Marketing. Harlow: Pearson Education Limited. Ch 5 & 6

End Child Labour (2021) ‘5 facts about child labour in India’ Available at (https://endchildlabour2021.org) (accessed: 11^th October 2022)

Huawei Investment & Holding Co. Ltd (2021) ‘Corporate Fact Sheet’ Available at (www.huawei.com) (accessed: 11^th October 2022)

Shubham Batra (2022) ‘Uh oh. Data shows India-China trade deficit widening, Indian exports falling for 1^st time in yrs’ Available at (https://theprint.in) (accessed: 11^th October 2022)