The need of international marketing

The needs of the international marketing

At its simplest level, international marketing involves the firm in making one or more marketing mix decisions across national boundaries. At its most complex level, it involves the firm in establishing manufacturing facilities overseas and coordinating marketing strategies across the globe.

Doole and Lowe (2001).

Simply put, internationalmarketing is the performance of business activities in more than one nation. But it is more than that. Not just simply more than one nation but more than one culture, and not necessarily in one nation. A company could perform all of its business in the same country and still be considered involved in international marketing. How? If the company does business with domestic subsidiaries of amultinational located in another country, it can still be considered involved in international marketing. And since over 70 percent of all companies in the United States either source from or count among their customers, international concerns, it is would not be rare to do so; indeed it would be rare if any company could consider all its customers and suppliers to be purely domestic entities. So inall likelihood, any and every company is involved, in one way or another, in international marketing. If a company is not going global, it is either buying or selling to foreign firms or American subsidiaries of foreign firms. In the U.S., the last bastion of parochial beliefs, even small companies are realizing they have but three options: go global, get out of the business, or go broke.International marketing must exist for the survival of the firm, any firms, and all firms.

What is International Marketing?

“ The process of planning and conducting transactions across national borders to create exchanges that satisfy the objectives of individuals and organizations ”.

International marketing is simply the application of marketing principles to more than one country. However,there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term. For the purposes of this lesson on international marketing and those that follow it, international marketing and global marketing are interchangeable.

International marketing involves recognising that people all over the world have different needs. Companies likeGillette, Coca-Cola, BIC, and Cadbury Schweppes have brands that are recognised across the globe. While many of the products that these businesses sell are targeted at a global audience using a consistent marketing mix, it is also necessary to understand regional differences, hence the importance of international marketing
Its forms range from export-import trade, to licensing, franchising, andmanagement contracts.
International marketing (IM) or global marketing refers to marketing carried out by companies overseas or across national borderlines. This strategy uses an extension of the techniques used in the home country of a firm. It refers to the firm-level marketing practices across the border including market identification and targeting, entry mode selection, marketing mix, andstrategic decisions to compete in international markets. According to the American Marketing Association (AMA) "international marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives." In contrast to the definition of marketing only theword multinational has been added. In simple words international marketing is the application of marketing principles to across national boundaries. However, there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term.
The intersection is the result of the process of internationalization. Many American and European authors see...