Business and Management
Submitted By cibaicibai
Cochlear is one of Australia’s most successful ‘born global’ companies. Choose one overseas market and discuss how macro-environmental factors (otherwise known as PEST – political/legal/regulatory; economic; social/cultural; and technological) would impact Cochlear’s global marketing mix.
So far as we know Cochlear is one of Australia’s most successful ‘born global’ companies, with its core product of implantable hearing solutions. Still, it is unknown to the others how Cochlear works in Japan will. This research will be based on how the macro-environmental factors affect Cochlear’s global marketing mix. Cochlear can control their marketing mix, 4P based on the influence on uncontrollable factors like politics, economic, social, and technological. However, that’s not it there are more to covers when one doing global business.
First of all, let’s look at the legal and political environment over Japan. Japan foreign policy practice a high security policy upon any risk they may face even for direct over sea investment or setting up firms in the country, every international company were put under an observation period before they can actually pull their profit from the country and take it elsewhere. (Suzuki, 2011) It is believe that, such precaution taken was to avoid disruptive activity to their financial environment, creating massive disturbance to local market. Therefore, in order to set up firm to operate their business in Japan, Cochlear have to get permission from the government and sign legal papers of agreement upon not extracting profit to other country for a period of time. Which also implies that, the company have to invest quite amount of money into the country and construct long-term orientated planning before they can get their return on investment. One of the fortunate things is that, the country does not put a lot of restriction towards R & D…...