Export Marketing

Division of Communications, Marketing and Public Relations

MK3111: International marketing

Assignment 1: “If a company is to export its products overseas, what kind of changes, if any, does it have to make to its national marketing strategy to suit the local culture? Comment upon this by giving a critically analytical discussion of both theory and models and give practical examples”

“As trade barriers are lowered, new growth opportunities in foreign markets open up and new markets are ready to be entered.” (Johansson, 2009) With the recent globalization of markets, it has motivated many enterprises to “embark on the internationalization process: for many of them, exporting is the first significant stage. Exporting has been the most popular approach adopted by firms to enter and penetrate foreign markets as it requires less commitment of resources has little effect on the firm’s existing operations and involves low investment and financial risk.” (Doole & Lowe, 2012) Before approaching the new target market, the “four P’s” of the marketing mix should be taking under deep consideration whether or not to adapt these, in other words the firm should have full knowledge of the standardization or adaptation of the Product it wishes to sell, the Price at which the firm wishes to sell the product for, the Promotions put in place for the product, the Place where it will be distributed from before entering the new export market. Furthermore, “A company may need to adjust its marketing mix for each individual market due to the uncontrollable elements. Uncontrollable elements include geography, infrastructure, culture, technology, politics, laws and competition”(Compete and suceed in the international marketplace, 2011)

The marketing mix is a tool that can adapt to meet the consumer’s requirements or the country’s requirements. (Compete and suceed in the international marketplace, 2011)

According to Brei et al (2011) there have been many debates...