INTERNATIONAL MARKETING
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International marketing is simply the application of marketing principles to more than one country. International marketing, also known as Global Marketing, deals with business on international level. Many marketers see international marketing as a simple extension of exporting, whereby the marketing mix is simply adapted in some way to take into account differences in consumers and segments. It then follows that global marketing takes a more standardized approach to world markets and focuses upon sameness, in other words the similarities in consumers and segments.
At its simplest level, international marketing involves the firm in making one or more marketing mix decisions across national boundaries. At its most complex level, it involves the firm in establishing manufacturing facilities overseas and coordinating marketing.
International Marketing is the performance of business activities that direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit.
One of the fundamental steps that need to be taken prior to beginning international marketing is the environmental analysis. There are several tools available for carrying out this analysis such as PEST analysis, SWOT analysis, Five Forces Analysis etc.
PEST is a well-known and widely applied tool when considering the external nature of the domestic market. However, it is equally as useful when applied to the nature of the international marketing environment.
Another factor that needs to be considered is Tariff and Non – Tariff barriers. There are a number of fences that companies need to plan for when initializing international marketing. Tariff and non-tariff barriers are still very common, even today.