Critical evaluation of Sustainability and feasibility
In consideration with the concept of sustainability, it can be stated that sustainable strategies of international marketing contribute in providing a competitive advantage for all of the businesses. It also helps in differentiating a particular business within the competitive market. There are a number of advantages that sustainability provides in the process of decision making within the business (Hulm, 2006). A sustainable global marketing strategy also helps in identifying and avoiding the costs that are involved in unsustainable strategies of business. This includes industrial waste being dumped within the environment.
Sustainable global marketing strategies also assist in making plans for the changes that take place in the expectation of consumers and permits for the capitalization of emerging industries and markets (Hartman, 2006, pp22-56). The concept of sustainability within global marketing strategies also involves several other related and significant concepts. These include concepts like business ethics along with corporate social responsibility. Strategies that are sustainable contribute in the reduction of negative influence imposed by business activities on the society and increasing the positive impact (Levitt, 2010). Business ethics are also extremely important with the sustainable strategies as failure in adhering to them can result in having a catastrophic influence on the viability and feasibility of the business.
In case of international marketing strategies, it becomes extremely important for conducting the study of feasibility (Kreigsmann, 2009, 35-42). This is because as the strategy shall be or have been implemented at the global level, there are chances of more levels of risks involved. Therefore, in order to reduce the chances of risk, identification of potential risks and implementing strategy appropriately for initiating success within the business is extremely important for every international marketing strategy and business.