Thursday, May 20, 2021

International Marketing

 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, 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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