International Marketing

International Marketing

Introduction

The phenomenon which permits sellers and buyers to communicate with each other in spite of their geographical areas is termed as 'international market development. The international market is disconnected with the currencies and boarders; the one thing which matters is that the sellers should know the method for navigating their ways by global markets to access possible clients (Fenway, 2006).

Globalization phenomenon has entirely changed the idea of marketing. International marketing development is now crucial after which it is inadequate for businesses to develop locally or domestically instead options are there at the international level. Although, it is not easy to take benefit of these chances as the international level competition requires new efforts and skills. Thus, it is insufficient to go into the international market instead real game begins after it when the organizations start to increase in this market. Marketers should study the factors of international market development to have full knowledge of how to become a successful worldwide brand (Kellogg, 2012). Because of globalization, international marketing phenomenon has changed significantly. This document explores some of this phenomenon and shed light on environmental factors which have a direct impact on international business marketing. Furthermore the document discusses innovations which can help firms achieve their targets in competitive international marketing. Finally, the document comprehensively describes perspective and techniques in international marketing research and international communication.

Environmental Factors in Global Business Market

In the twenty first century, the presence of global business is a requirement for a successful company. There are several essential factors that should be considered while taking national company adjacent to the platform of international business. Business law as well as common business environment differs from one country to the other. You should think about those countries that have most encouraging business environments and least business fees before taking your company to international level. Primarily, two kinds of factors are there which are affecting international business - external factors and internal factors. External factors of international business are the factors where you want to look at the entire criteria; these are demographic situations, political environment, sociocultural environment, legal environment, political environment of a particular country. The internal factors of the international business encompass consumer, competitors, buyers, suppliers, and political parties of a particular country.

Internal Factors

The view based on the resource, that has recently seen resurgence, holds that resources of firms are the actual foundation of strong strategy, and it is competiveness in the business paradigams (Pehrsson, 2008, pp. 179-192). The aspect is based on the work of Penrose (1959), in which firm is considered as the centre of effective resources and growth starts from large production of resources that the firm has or by diversification. Barney (1991) said that the competitive advantage develops from capabilities and resources a firm manages which are precious but not substitutable (Barney, 1991, pp. 791-800). Early study emphasized on the tangible assets, however, now there is a change towards encompassing the intangible assets as well as experience and knowledge, learning and core competencies (Pehrsson, ...