INTERNATIONAL MARKETING

International Marketing

Table of Contents

International Marketing Principles1

Nature of the Growing Global Market2

Cross Cultural Implications for International Operations3

Trends in Global Market with Cultural Differences4

Project Management Techniques5

Stages of International Marketing Development6

Ethnocentric6

Polycentric7

Geocentric8

Market Research for International Marketing9

Market Entry Strategies9

Direct Market Entry Strategy10

Indirect Market Entry Strategy10

Impact of Cost Leadership, Differentiation, Branding Strength in Country-Specific Markets10

Standardization versus Adaptation and Extension versus Innovation11

Pricing Strategies for Market Penetration12

Objectives of International Communications Campaign13

Delivery Element of the Marketing Mix13

Place14

Electronic Services14

Planning Models/Tools of Marketing15

Product Life Cycle15

Ansoffs Matrix16

SWOT Analysis16

BCG Analysis16

Generic Strategy16

Value Chain Analysis16

Five Forces Model17

Force Field Analysis17

Diffusion of Innovations17

Gap Analysis17

Marketing Mix17

Forecasting Model18

Competitive Strategies in International Marketing18

Cost Leadership18

Differentiation Strategy19

Focus strategy19

Human Resource Training and Staff Commitment20

Joint Ventures21

Strategic Alliances21

Marketing Offices22

Branches23

Finance, Payment, and International Investment in Trading23

References25

International Marketing

International Marketing Principles

Domestic and international marketing seems to be the same if we measure it in basic definition of marketing. The domestic market is formed when the economic area of ??the state is the kind of market unit, i.e., when it is unified and essentially obeys the same laws (commercial, property, etc.), Taxes, weights and measures, currency, etc. Barriers in domestic markets are considerably less since language, culture and other norms are the same. All the functions; promotion, production, distribution as well as sale of goods and services are done within the local boundaries of the country only. While international marketing, also known as global marketing refers to marketing carried out by companies transatlantic or through national borders (Brady, 2007). This strategy uses an extension of the techniques used in the company's main country. According to the American Marketing Association, International marketing is a multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual or organizational goals. In simple words, international marketing is the application of marketing principles across national borders. Large companies market their products both nationwide and abroad. Marketing operations to be launched will not be the same as those adopted in the case of a local campaign (called marketing domestic). By definition, it is the brand promotion and sale of various products and services that are offered by the brand, making everything outside the national territory (Mooradian, 2012).

The main objective of international marketing is to develop a trade policy consistent with the general policy of the company that is suitable for installation abroad. Regarding segmentation, it is essential that the company keeps in mind that it is the dominant market it will target. With regards to product policy, it is worth noting that the products which are sold in the country may not be appropriate in another country. Therefore, it is essential to develop products tailored to the needs of potential consumers. International marketing is all about success through respect for all stages of the strategic marketing while adapting to specific local needs. Domestic market has a limited scope while international marketing is broader and thus involves various challenges (Wilson, 2005). The main differences and challenges with respect to domestic and international marketing are tied to scope, sharing of technology, benefits, political relations, and ...