MARKETING MANAGEMENT

Marketing Management

Marketing Management

Introduction

In today's world, marketing is treated differently. Marketing is not only restricted till selling of goods and services. In most of the companies, managers believe that marketing means distribution of goods, promotion, pricing and sales but it is not, marketing means how to satisfy customers by fulfilling their needs and wants by providing quality products and services and on the basis if these how organisation can achieve its goals and objectives. The concept of marketing is broadened on the basis of customer requirements.

Marketing managers should put customers in central for making decisions. If organisation does not care about customers, it cannot achieve its goals and objectives. Marketing managers should always get the information about market by doing market research so that they can know about the trends of the market and views of the customers. On the basis of this, organisation can introduce products or services that can satisfy customer.

Marketing is " The process of planning and executing the conception pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organisational objectives".

ISSUES OF INTERNATIONAL INVESTMENT

While international management opens up vast opportunities, it also presents the challenge of attempting to understand a much broader set of factors than those typically encountered in managing a strictly domestic business. According to John McNamara, National Director, International Assurance Services, for Deloitte, business issues vary from country to country and by industry, but some matters are consistent.

"Local laws and regulations, the political climate, the local labor market, the availability of financing and natural resources, infrastructure, market conditions, competition, and tax incentives" are some major considerations, he says. "Underlying all these, however, is adequately understanding the local culture and business customs -- knowing how to get things done and whom to trust."GENERAL ISSUESBefore considering specific operational and strategic issues in terms of finance involved with overseas investment in a particular country, the general environment of the country should be assessed. The overall political and economic stability of the country together with any local laws and regulations need to be assessed. The government's attitude to foreign investment, the tax system, financial reporting and auditing, currency and the banking system are also areas which should be investigated at the initial stages of investment. Specific to foreign investment are issues relating to foreign exchange controls, restrictions / incentives for foreign investors, sources of finance for foreign investors and the presence of importing and exporting restrictions.

FINANCE ISSUES

"A determining factor in the decision to move operations offshore or enter new markets is the cost of setting up and doing business overseas"(Economist Intelligence Unit, 2002)The financing of an international venture is of key importance and the exposure of business to foreign exchange losses and risks need to be taken into consideration. The question of how the business will be financed is a principal concern. Parkinsons 2000, outlines several options.

Free cash flow finance from parent company country finance in overseas country finance from other capital marketsA subsidiary could rely on its own internally generated funds, ...