INTERNATIONAL MARKETING

International Marketing

International Marketing

Introduction

In the era of market economy and increasing competition among the primary resource of any business is information. To manage a modern economic organization is no longer sufficient because intuition and experience - management must be based on professionally collected and processed data. Knowledge of the market, gained in the process of communication with the environment, reduces uncertainty and increases the chances to make the right decision. Internationalization is the process of companies becoming more visible in the global economy. Entering new markets is no longer being the domain of large multinationals. This challenge also takes the small and medium enterprises. But the search for market niches and offering products to consumers with different attitudes and behavior patterns require particular sensitivity of managers on the elements of the new, foreign environment. Hence the need to obtain relevant information that will become the basis for the success of marketing strategies in international markets (Czinkota, 2001, pp. 110).

Discussion

Tool for gathering relevant information are marketing research. Research on foreign markets seems to play a very important role (Terpstra, 1993, pp. 23). This is particularly true of companies that start to operate in a new market, which results from two conditions:

companies that enter a new market, usually have a small resource of information about the environment;

Some conditions on the domestic market (in particular, cultural factors) are taken for granted, and the result of his own knowledge rather than marketers of research. This knowledge can be used but seldom abroad, due to the different traditions prevailing in different countries.

Basic differences in marketing research of the domestic market and foreign markets

In foreign markets, marketing research consists of three basic areas of research: the study of business conditions, the test instrument's impact on the market and study the results of economic organization. The diagnosis of the conditions of the enterprise may be both a description of existing and future state of anticipation surrounding the company. Knowing the conditions is necessary to decide whether to enter international markets and which countries pose the greatest chance of success of the project (White, 2009, pp. 210). Investigations may be both closer and further surroundings of the company. To research carried out in close proximity to the company include:

Research needs of buyers and demand (e.g., analysis of consumer habits, purchasing decision-making process, preferences and attitudes towards brands, sensitivity to various tools of marketing, consumer purchasing power, their social characteristics, demographic and psychological - these conditions are often significantly different from the situation in the domestic market)

Study competitors (e.g. analysis of the number and potential competitors, their market share, strengths and weaknesses, sources of competitive advantage) (Terpstra, 1993, pp. 23).

The activities of companies outside the country also affect the conditions for having its roots in the environment continues. In this case, market research may include the following factors:

Demographic (analysis of the characteristics of the population according to various criteria)

economic (eg analysis of GDP growth, household income, level of savings),

technological (eg, observation and analysis of the technological progress of ...