Developing Business Relationships in Mexico
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2788 Downloads I Published: 12 Oct ,2018
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).
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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.
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.
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 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.
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.
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
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 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.
The Objectives of this stage:
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.
The Objectives of this stage:
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.
The Objectives for this stage:
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.
The Objectives of this stage
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.
The Objectives of this stage:
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The following are the objectives of this chapter:
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)
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.
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.
The following part presents the various elements of culture alongside their impact on the Mexican relationship with our company.
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.
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 sending the representatives as aforementioned who will take care of the linguistic part among others (Rugimbana, Nwankwo, and Nwanko, 2002)
Other countries have got different tastes of beauty and art expression. Music and dancing are among the elements of aesthetics. It is known that these elements of aesthetics differ from one country to another. The difference caused by aesthetics affects the design of the products that they engage in, the difference in colors, packaging, and branding of products. There is a need for us to make an evaluation of Aesthetics in Mexico. In so doing, we will be in a position to adopt their product’s generality or be able to device means that will change them to suit our preference.
Education refers to an act of passing knowledge about culture, ideas, attitude and many other disciplines from one source to another. In international marketing, education can be used to make transmission of knowledge pertaining marketing knowledge.
The following are some of the ways in which education affects marketing, particularly in Mexico.
This is a constituent of culture which will provide the best insight into the behavior of the society. Religion tries to evaluate the reason why people behave how they behave in the society. Having knowledge about Mexican’s religion will ensure that we have knowledge about their behavior, a factor that will enhance positive relationship among us as mutual partners.
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There are some of the issues connected to global businesses. Most of these businesses like in Mexico are forced to encourage culture teams, which often works in a different environment and in different languages and time zones. One of the problems that the Mexicans faced if language barrier when doing business.
Approximately 90% of the communication is non-verbal, so why the remoteness people are forced to talk with only 10% of their bandwidth and the do work using the language which is not their language (mother tongue).This was the difficult thing they could do.
In business, it’s important to employ native speakers to the business. This is for them to deliver to the business from the knees of their mother and not tape. Natives don’t have to reside in the market.
Some of the important strategies in marketing are breaking language barriers and helping the businesses to communicate by themselves and also to their customers.
Looking for the specialist in the field of marketing doesn’t just gives the correct answers in a quick way but also good in helping the company in Mexico to bust the language barrier
The correct answer is by the use of translation. This is not for the specialist search techniques. This is because it’s not there specialty. Translation agencies help to roll out the Companies products and the services.
It’s a good solution for the company to have filtered questions by the agency of translation and then get feedback to the company in their language. There are some of the approaches whereby the Questions and their answers can the kept in the library for the continuous usage which has arisen from the company for several time
Along with other marketing issues, international marketing; a broader term refers to all aspects mentioned in this report. In is important to note that these concepts are worth consideration if the mutual relationship between the countries given is to be maintained with positive terms. If all the items above are based on, then there is a possibility that both of our organizations are going to prosper to great heights.
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