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Introduction Definition Difference & similarity between domestic and international marketing Concept of international marketing a) Domestic market extension b) Multi domestic market concept c) Global market concept Factors influencing international marketing

Basic Concept Of International Marketing

Amit Duha n

Introduction
International marketing refers to buying or selling of goods and service beyond the boundaries of a country. When a country crosses its national frontiers to market its products it is indulging in international marketing. International marketing is the performance of business activities designed to plan, price, promote & direct the flow of a countrys goods & services to consumers in more than one nation for a profit.

Competition, legal restraints, government, weather, fickle, consumer and any number of other uncontrollable elements can and frequently do, affect the profitable outcome of good, sound marketing plans. Generally Speaking, the marketer cannot control or influence these uncontrollable elements, but instead must adjust or adopt to them in a manner consistent with a successful outcome.

Definition
Philip Cateora, to make available companys product& services to more than one countrys customers for use is known as international marketing. Van Terpestra, the process of marketing beyond the countrys border is called international marketing.

Difference between international and domestic marketing

Meaning Requirements Language problems Currency problems Economic policy Political problems Market research Risk Government control

Similarity
Object Creation of goodwill Research & development Technique of marketing

Concept of international marketing

Domestic market orientation Global market orientation

Ethnocentric concept

Regiocentric concept Geocentric concept

Multi domestic market

Polycentric concept

Multi domestic market orientation

Once a company recognizes the importance of difference in over Seas market and the importance of offshore business to the organization, its orientation toward international business may shift to a multi domestic marketing strategy. A company guided by this concept has a strong sense that country markets success requires an almost independent program For each country subsidiaries operate independent of one another in establishing marketing objective & plans, and the domestic market &each of the country market have separate marketing mix with little interaction among them.

Global Market Orientation

A company guided by this global market or philosophy is generally referred to as a global and its marketing activity is global and its market coverage is the world. A company employing a global marketing strategy strives for efficiencies of scale by developing a standardized marketing mix applicable across national boundaries. Markets are still segmented, but country or region is considered side by side with a variety of other segments.

Factors influencing international marketing

Internal factors External factors

Internal factors
May include the strength of a business organization to operate in an allien country. Its knowledge about the customers wants & needs in that country. The investment capacity of the company to pursue its goals to make the products as per the requirement of the customers. It may have to evaluate its production capacity & strength to with stand the competition in that country.

External factors
Economic environment Political environment Legal environment Physical environment Technological environment Cultural environment

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