It is often argued that benefits of trading in domestic markets far out-weigh the risks involved in conducting business overseas.
Discuss citing specific "real life" examples to support your argument.
In the past two decades, world trade has expanded. Nations are much more affected by international business than in the past. The volume of international trade is an indicator of the economic interdependence of nations. The share of international trade in world economic activity has more than doubled since 1945 and that nations are more interdependent than ever before. For firm that means growing access to the markets of the world and growing competition at home.
International marketing refers to exchanges across national boundaries for the satisfaction of human needs and want. The extent of a firm's involvement abroad is a function of its commitment to the pursuit of foreign market. International marketing is really all about the application of marketing skills and techniques to markets beyond the domestic market.
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Board of Governors - International Monetary Fund (...
English: Mitsubishi Diamante 2002 for Japanese dom...Before entry into international markets, many companies focus solely on their domestic market. Their marketing strategy is developed based on information about domestic customer needs and wants, industry trends, economic, technological, and political environment at home.
Political: some countries internal firms and industries can get the support from government. Such as high technology industries in China, government gives favourable policy for developing high technology. In domestic market, companies are familiar with legal system, easy to understand some laws about business; and know polity and economy situation at home.
Economic:
Social: in domestic market, people have common language that means easy to communicate between firm and consumer. Company easy to get some useful information about what customer needs and wants. They are no language and behaviour's handicap. In a country, maybe there have some different culture, religion; doing business these aspects...