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Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. International marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. International marketing strategies are developed by various multinational companies on a global level in order to set a common brand platform for their products and brands.
Globalization has created new marketing behaviors, opportunities and challenges thereby making international marketing somewhat different from domestic marketing. I work with several international market consultants through the MaxxumNet Group whom are all trade specialists. Clearly, the term "marketing' is the common element in domestic marketing and export marketing.
What the above definition also implies is that marketing must be orientated towards the customer. A company which is able to co-ordinate its entire business system including its capital, its human resources, its competitive processes and its marketing mix to focus on the satisfaction of customer needs profitably within a dynamic external environment is usually assured of success. The main distinguishing feature between export marketing and domestic marketing is thus that with the former, a company is operating within external environments that are highly uncertain and where the rules of the game are often ambiguous, contradictory and subject to rapid change! Multinational marketing (marketing across several different foreign markets) is even more complex.
What is a Market Market is a place where buyers and sellers gather for transactions which involves the exchange of goods and services.
Definition of International Marketing At its simplest level, international marketing involves the firm in making one or more marketing mix decisions across national boundaries. International vs Domestic Marketing Difference from domestic marketing is as much as exchange takes place beyond the frontiers. International vs Domestic Marketing – contd Marketing can be conceived as an integral part of two processes: - Technical - Social Technically both international and domestic markets are identical.
International vs Domestic Marketing – contd The barriers imposed by Govt are both visible and invisible. Scope of International Marketing - contd Lower Mobility of Factors of Productions: - Factors of productions are less mobile between nations than in the country itself. Scope of International Marketing - contd Greater degree of risks involved in Intl marketing due to: - Larger volumes of transactions and the higher values of these transactions.
Impact of Global Issues on International Marketing The economic, political and social changes that have occurred over the last decade have dramatically altered the landscape of global business.
Impact of Global Issues on International Marketing – contd The continued strengthening and creation of regional market groups such as the European Eunion (EU), the North American Free Trade Area (NAFTA), ASEAN Free Trade Area (AFTA), the Asian Pacific Economic Cooperation (APEC). Reasons for Going International contd Competition: - Economic Liberalization – reduction in domestic protection and trade barriers. Reasons for Going International contd Export Incentives : Export incentives are a widely employed strategy of export promotion. Financial Transactions The international market is generally very competitive and sensitive, and the credit facilities made available to the buyers are one of the important determinants of export business. Pre-Shipment Finance – contd Advances by Commercial Banks are governed by the Credit Scheme of the State Bank.
Post-Shipment Finance Exporters Post-shipment Financing Requirements: - To cover period between the shipment of the goods and the receipt of payment.

Foreign Exchange Foreign exchange is released for undertaking approved market development activities such as: - Participation in trade fairs and exhibitions. It is then passed on to each local or domestic market which makes adjustments for their country and manages its implementation. Due to deregulation and technological advances in transportation and communication, companies can market in, and consumers can buy from almost any country in the world.
As part of the MaxxumNet Group, we provide you with secure and professional data security solutions that will ensure your corporate information is always kept safe and secure. Today, marketers (and exporters) are becoming increasingly aware of the fact that a company does not make money from products but rather from people (wherever in the world they may be), and that a mismatch between what the company offers and what customers buy will result in large inventories of unwanted products and the loss of customers to competitors. Against the background of the company's overall business and marketing objectives, the challenge of the marketing manager is to use tools such as market research to mould the controllable elements of marketing (i.e. Even in a world that is moving towards increasing similarities in consumer tastes, marketing methods, production processes and business practices, there are still a significant number of differences between international markets to make selling to them challenging - see figure 2.
When dealing with more than one foreign market, the firm is faced with several different external environments, each of which may call for different product, pricing, promotion and distribution strategies.
At its most complex level, it involves the firm in establishing manufacturing facilities overseas and coordinating marketing strategies across the globe. Involves different marketing and consumers who might have different needs, wants & behavioural attributes. Different Monetary Systems: – Each country has its own monetary system and their exchange value differ – Exchange rates keep fluctuating and are determined by forces of supply & demand – Some also operate on multiple exchange rates and each exchange rate is applicable on certain set of transactions.
General Agreement on Tariff and Trade (GATT) and creation of the World Trade Organization (WTO) with China and Taiwan as new members. Suppliers Credit: - Credit extended to Overseas Buyer to pay for goods imported from Exporter. In simple words international marketing is the application of marketing principles to across national boundaries.
One significant reason is technologicala€”because of improved transportation and communication opportunities today, trade is now more practical. In this situation of heightened competition, it is important for companies to offer products that would be of interest in the global marketplace and also adjust their product and service features to each countrya€™s different cultures and values.
Although marketing is often considered in the same light as selling, selling is essentially the end result of the process of marketing. These environmental factors include, for example, business practices and institutions, technological developments, social and cultural norms, economic patterns, competitive activities, etc.
Ultimately, export marketing takes more effort and more time, and requires greater financial resources than domestic marketing. The challenge is to co-ordinate, integrate and manage the various marketing programmes to achieve the firm's overall marketing objectives. Hence it is obvious that marketing to the extent it is visualized as a social process, will be different from domestic marketing. Even if there is complete free trade, logistic may create problems totally different from those experienced in domestic operations. The restructuring, reorganizing and refocusing of companies in telecom, entertainment and biotechnology.
If the exporter gets cash in advance, there is no issue of financing; but this is not common.

However, there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term.
Thus, consumers and businesses now have access to the very best products from many different countries. It also can have significant cost savings as major advertising and marketing campaigns can be developed centrally.
They must choose what to produce, and how to price and communicate their products considering the different legal and political differences, language, and currency fluctuations. And we have helped dozens of companies like yours break into exporting or expand their markets. Sylvester's Data Security and Recovery to find out why this service is invaluable to you and your clientele. In other words, although selling and sales are part of the marketing process, marketing is in fact much more. In addition, it requires at least the same level of commitment that companies give to their local operations. Since the countries are sovereign and dependent, the respective Governments enact legislations for the control of foreign trade. Foreign Exchange Regulation which does not effect domestic sales, have considerable impact on financing of overseas Sales and Operations.
Difference in market characteristics: Each country is a separate market having its own - Demand pattern -Channels of distributions -Methods of promotions These difference are accentuated due to the existence of Government control and regulations.
Cultural Dimensions of International Marketing: - Cross cultural environment - Makes marketing task more complex.
The emerging markets in Eastern Europe, Asia and Latin America, where more than 75 % of the growth in world trade over the next 20 years is expected to occur. The continuing integration of the internet into all aaspects of the companies operations and consumers lives. Increasingly rapid technology lifecycles also increases the competition among countries as to who can produce the newest in technology.
To sum up, when multinational companies segment their target markets and position their products, cross-cultural literacy is necessary, which is a concept of glocalisation, requiring a company to a€?think globally and act locallya€?. As human needs and wants have different attributes in foreign markets, perception of those needs will require an overall appreciation of the environment, and the social & individual value systems. The reunification of Hong Kong, Macau and China which finally puts all of Asia under the control of Asians for the first time in over a century. In part to accommodate these realities, countries in the last several decades have taken increasing steps to promote global trade through agreements such as the General Treaty on Trade and Tariffs, and trade organizations such as the World Trade Organization (WTO), North American Free Trade Agreement (NAFTA), and the European Union (EU). Without an understanding of cultural and structural differences between countries, even leading global corporations can fail in specific markets.
The European Monetary Union and the successful switch from local country currencies to one monetary unit for Europe, the Euro. These changes affect the businesses world- wide, and they mean that companies will have to constantly examine the way they do business and remain flexible enough to react rapidly to changing global trends to be competitive.

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