International Marketing
International marketing, though it has certain distinct characteristics, is similar to domestic marketing in terms of certain technical attributes. International Marketing can be concerned as an internal part of two processes, viz. technical and social. International marketing and Domestic marketing are identic.al, so far as technical process is concerned.
It includes non-human factors such as product, price, cost,
brands etc. The basic principles regarding these variables are of universal
applicability. International Marketing But the social aspects of marketing are unique in any given
stratum, because it involves human elements, namely, the behaviour pattern of
customers and the given characteristics of a society, such as consumers
attitude, values etc. It is obvious that marketing, to the extent it is
visualized as a social process, will be different from domestic marketing. International Marketing
International Marketing Kotler has defined marketing as, “Marketing is the
analysis, planning, implementation and control of programmes designed to bring
about desired exchanges with target audiences for the purpose of mutual or
personal gain. It relies heavily on the adoption and coordination of product,
price, promotion and place for achieving effective response.”
International marketing is the marketing across the
national frontiers. It refers to the strategy, process, and implementation of
the marketing activities in the international arena.
International marketing may be defined as an activity related to the sale of goods and services of one country in the other, subject to the rules and regulations framed by the countries concerned. International Marketing In simple words, it refers to marketing activities and operations among the countries of the world following different political and economic systems.
The scope of international marketing essentially includes
exporting of goods and services in foreign markets. The exporter performs
various activities, other than exporting the goods and services.
Discuss in detail the various steps which the company has
to undertake in order to be successful in international marketing. These activities are:
1. Establishing:
A branch in foreign market for processing, packaging or
assembling the goods according to the needs of the markets. Sometimes complete
manufacturing is carried out by the branch through direct investments.
2. Joint Ventures and Collaborations:
International marketing includes establishing joint
ventures and collaboration in foreign countries with some foreign firms for
manufacturing and/or marketing the product. International Marketing Under these arrangements, the
company works in collaboration with the foreign firm in order to exploit the
foreign markets.
3. Licensing Arrangements:
The company, under the system, establishes licensing
arrangements with the foreign term whereby foreign enterprises are granted the
right to use the exporting company’s know- how, viz., patents, processes or
trademarks according to the terms of agreement with or without financial
investment.
4. Consultancy Services:
Offering consultancy services are also covered in
international marketing scope. The exporting company offers consultancy
services by undertaking turnkey projects in foreign countries. For this
purpose, the exporting company sends its consultants and experts in foreign
countries who guide and direct the manufacturing activities on the spot.
5. Technical and Managerial Know-How:
The scope of international marketing also includes the technical and managerial know-how provided by the exporting company to the importing company. The technicians and managerial personnel of the exporting company guide and train the technicians and managers of the importing company.
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