Marketing

Table of Contents

1. Topic pack - Marketing - introduction
2. 4.1 The role of marketing - notes
3. 4.1 The role of marketing - questions
4. 4.2 Marketing Planning - notes
5. 4.2 Marketing planning - questions
6. 4.3 Product introduction - notes
7. 4.3 Product - questions
8. 4.3 Product - simulations and activities
9. 4.4 Price - notes
10. 4.4 Price - questions
11. 4.4 Price - simulations and activities
12. 4.4 Promotion - notes
13. 4.5 Promotion - questions
14. 4.6 Place (distribution) - notes
15. 4.7 International marketing - notes
    1. International marketing
    2. Entry into international marketing
    3. Political problems
    4. Social and Cultural constraints
    5. Ethics
    6. Ways of entering overseas markets
    7. International competitiveness
16. 4.7 International marketing - questions
17. 4.8 E-commerce - notes
18. 4.8 E-commerce - questions
19. Printable version

International marketing

International marketing is marketing carried out by firms overseas or across national borderlines. This strategy is an extension of the marketing techniques applied in the domestic market to meet the different demands, buying patterns, demographics and market segments of overseas customers.

International marketing and global marketing are often used interchangeably, although there is a significant difference. Global marketing is employing a uniform approach to the marketing of goods in overseas markets rather than adapting marketing to the local conditions. For example, global brands such as McDonalds and Adidas try to keep a consistent product, message and offer around the world.

Increasing globalisation is a facet of most firms, markets and brands, because selling into overseas markets has distinct advantages:

• Increased profitability - larger markets result in increases in sales and profitability as well as greater economies of scale. Overseas markets may be more lucrative and as the costs of sourcing from abroad can be considerably lower. In some markets it might be possible to sell at higher prices than can be charged in the domestic markets.
• Diversification and spreading of risk - economic problems in one country can be avoided if the company sells in more than one country. A fall in economic activity in one market may be mitigated by shifting production and sales promotion to other markets that are not undergoing an economic downturn.
• Increased brand exposure and recognition - brands are a valuable intangible asset. Global recognition of a brand will increase this value substantially as well as making it easier for the firm to introduce new products and services into new and existing markets.
• Legal differences - not all countries apply the same standards of health, safety etc and so it might be easier, or less costly to produce and or sell in one country than in another.
• Market saturation - in competitive market situations a firm might be able to both boost sales and prolong the life of a product of the range by selling overseas. In some cases, such as tobacco products, this has enabled companies to continue production when the economic, political and social circumstances have changed in their domestic markets.

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International marketing Which of the following is a reason why international marketing is different from domestic? a) The amount of paperwork needed to send exports b) The differences in legislation c) The need to build joint ventures d) The pressures on a business to merge with others Yes, that's correct. Well done. This is a major difference as there will be different cultures and languages.No, that's not right. The correct answer is B - this is a major difference as there will be different cultures and languages. A is possibly a reality but then domestic trade will also generate paperwork. C is a way of developing international marketing but they also exist at home. D is also a way of building a presence overseas but again it is not reserved to international marketing.Your answer has been saved.