INTERNATIONAL MARKETING

International Marketing

Introduction1

International Marketing1

International Marketing Mix2

Product3

Branding3

Placement4

Promotion5

Price6

International Price Policy6

Accessing International Markets8

SWOT Analysis9

PEST Analysis11

Conclusion13

References14

International Marketing

Introduction

The International Marketing can be seen as a product of globalisation of businesses. In fact, international marketing is the activities of businesses that direct flow of goods and services from a company to consumers or users in more than one nation for a profit. The International Marketing attempts to satisfy consumer needs outside with a product according to your expenses, fashions, specifications, price desires, and reflects local trade regulations (Fill, 2010). This paper aims to discuss international marketing considering its core elements. It has been long argued that free trade and outsourcing bring benefits to all countries that participate in a free trading system. In fact, the traditional view of Globalisation entails that it can generally be recognised as a movement of people from one place to another. However, the term of 'Globalisation' in today's rapidly changing business and technological environment has a broader concept and defines a process of economic and social connection between not only people but also the organisations and businesses (Goldstein & Moss, 2011). It would not be wrong to say that today this world gives a picture of global village as everything from people to businesses are interconnected across the world regardless of physical borders.

International Marketing

The most significant difference between International Marketing and Domestic Marketing is exactly the greater complexity and unpredictability of the international environment and the prevailing uncontrollable factors such as political, economic, legal and cultural forces mainly among others. However, International marketing has a polycentric orientation, emphasizing whenever necessary adaptation of product and promotion in foreign markets (Muhlbacher et al., 2006). This guidance refers to the willingness of a company to recognise that there are significant cultural differences in the markets. In relation to international marketing a company should have better understanding of:

Objectives and challenges: The dynamic environment of international trade in the context of international marketing.

Global market and local cultures: The culture of the people and its role in the choices of international marketing, culture, management styles and business systems, political and legislative.

The evaluation of international opportunities: Marketing research in foreign markets, regional markets and economic integration areas - emergent markets.

The choices of marketing for the global market: The planning and organisation of marketing activities, Products and services for consumers, Products and services for business, channels of international marketing, integrated marketing communications, the management of sales in world markets, pricing in international markets.

Implement the strategies in the global market: The intercultural negotiation.

International Marketing Mix

The International Marketing mix consists of Product, Price, Place, and Promotion. Each of them is discussed at length below.

Product

In the context of International Marketing, Product needs a little amendment according to the customer needs of the fresh market. All markets do not have a common culture so as a firm you have got to adapt according to a specific market (Muhlbacher et al., 2006). It should be in line with the new culture and demographics so that people do not have a strange ...