Introduction to international marketing management essay
So it is clear that through foreign expansion the country, not only improves their profitability, but also they work towards the economic development as well. An organisation is a group of people pursuing a common aim through co-ordinated activities, organisations are characterised by structure, activity and goals.
Research paper on international marketing
A classic example of this phenomenon is the case of Zimbabwe Sunsplash fruit juice drinks. The promotional activities cost of the products, latest, trendy and quality products make huge impact on customers which also helps them to retain with the specific brand. This is nothing new. Various tools used in marketing may be classified into the four Ps of marketing: product, price, place, and promotion, widely known as marketing mix. The unexpected release of Chinese tobacco depressed the tobacco price well below expectations, leaving farms with stock and large interest carrying production loans. Cotton, as an ingredient in shirtings, suitings, and curtain material can be globally marketed as natural and fashionable. But this highlights one important global lesson - the need to study markets carefully. They help to better understand and adapt to the needs of the buyer, determine the best value for money and quality of the goods, find new customers, find a way to draw attention to your company and products. It is what has given sports the increased attention that it has today. However, socio-cultural factors, in considering the combination of marketing strategies, will always run through them. The aim of the organisation was to become a worldwide global brand.
This may happen in a number of ways: Foreign customers Unsolicited enquiries through word of mouth, visits, exhibitions, and experience through others may result in orders. Unfortunately the theory assumes that production costs remain relatively static.
It is because being present in the international level safeguards the viability of the organization against competitors — both in the local and global arena Czinkota et al. To shift a perishable like strawberries km from Harare, Zimbabwe to the UK requires an extraordinary complex series of activities, involving perfect timing.
Key questions for analysis, planning and control of marketing in constraint economies.
Introduction to international marketing management essay
The major advantage of this feature is that it builds the reputation within the country and many obstacles related to business occurring at the national level could be eradicated easily. Thus, in order to even remain domestically competitive, a firm needs to be internationally competitive. Various obstacles like, the risk to investment, wastage of resources, wrong decisions, etc. One of those requirements would be to thoroughly research the cultural environment in which you wish to launch your product no matter how popular and indispensable you believe it might be. The foreign uncontrollable environment is the same as the domestic uncontrollable environment. A new pesticide is available almost globally to any agricultural organisation as long as it has the means to buy it. Are employment and other such objectives necessary? The journal looks at the increase in Internet shopping and the effect that this has had on the way that consumers shop for groceries For a company, especially an SME, the market research is an important issue that firms need to deliberate due to the limitations of its resources and capabilities Under this deal, African and Caribbean countries enjoy favoured status with EU member countries. Hakansson et al4.
Until now, non-standard advertising of the company emphasizes that these cigarettes are created by Russian designers specifically for Russian consumers.
I discussed the efficient domestic marketing and international marketing process in the whole assignment. It would allow the firm to lower down the costs of products and attract more customers Terpstra, Foley and Sarathy, Increase in total sales turnover ii.
Further, the cultural aspect is also something where huge difference could be experienced.
Moreover, the major goals of a marketing manager are to reduce risk and capitalize on returns in profit These environmental factors are known as uncontrollable elements over which a marketer hardly has any influence, but the marketing challenge is to adapt the controllable elements of the marketing mix, i.
Costs of the products can be kept lowest by various ways.
Why is international marketing important
These qualities would help a lot in expanding business internationally with a competitive advantage in fashion industry Vargo and Lusch, Under the colonialists, production remained small, under the misguided reasoning that Kenya was too far from major markets. This will be in a form of literature review oriented discussion, explanation and analysis of standardization of international marketing approach. Framework for international analysis In order to put together the task of finding the differences and similarities in environmental and market analysis, a framework needs to be devised. Results of the research are presented in the form of the final report and submitted to the management of the company Shaw, The process of gathering information is usually the most expensive phase of the study. In view of the external environmental factors, the key decisions related to the marketing mix, i. In the late s and early 90s, the United States, along with Japan, have been playing an increasingly influential role in world affairs, especially with the collapse of the former USSR. Preliminary screening of international markets may be carried out on the basis of market size, accessibility in terms of both tariff and non-tariff barriers, and profitability of the market. His "EPRG" scheme identified four types of attitudes or orientations associated with successive stages in the evolution of international operations. The international economic system Several factors have contributed to the growth of the international economy post World War II. It must be noted that according to the "relationship" marketing school of thought, the so called "incontrollables" can be made more "controllable" by building relationships with the influences of these factors.
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