International Marketing

UNDERSTANDING INTERNATIONAL MARKETING

SCOPES OF INTERNATIONAL MARKETING TASKS

International Marketing

* The performance of business activities designed to plan, price, promote, and direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit.

International Marketing Tasks

* Must operate on three (3) different planes simultaneously known as marketing decision factors

* The successful manager constructs a marketing program designed for optimal adjustment to the uncertainty of the business climate.

* The controllable elements can be altered in the long run and, usually, in the short run to adjust to changing market conditions, consumer tastes, or corporate objectives.

* The uncontrollable elements must actively be evaluated and, if needed, adapted to.

* The adaptation of the marketing mix to these environmental factors—determines the outcome of the marketing enterprise.

* Domestic environment factors tend to be more uncertain to the marketer, but on some level may still be controllable.

* Foreign environment factors tend to be more uncertain to the marketer and are very difficult to be controlled.

DIFFERENCES BETWEEN DOMESTIC AND INTERNATIONAL MARKETING

IMPORTANCE OF CULTURE IN INTERNATIONAL MARKETING TASKS

How Can A Company Succeed Internationally?

* A foreign company must understand the impact of the uncontrollable elements that make up that country’s culture

* Cultural understanding is like an iceberg – we are not aware of nine-tenths of it.

* What is important in international marketing is one’s ability to respect and adjust to the differences or changes from one market to another.

* One should be able to adapt the marketing mix to the uncontrollable forces in the foreign market.

Self Reference Criterion And Ethnocentrism

* Primary obstacles to success

* These can cloud your judgment and can cause you to not understand the other culture....