A four year Conference Board study of 1, US manufacturing companies found that multinationals of all sizes and in all industries outperformed their strictly domestic US counterparts.
Uncertainty is created by the uncontrollable elements of all business environments, but each foreign country in which a company operates adds its own unique set of uncomfortable factors. Muhlbacher et al consider international marketing in relation to marketing orientation and competences see also Global Marketing.
For an emerging international brand, establishing partnerships and networking with other companies in the country are essential for success.
An international marketing career is especially suited to an individual with political understanding, good economic and communications skills, and an ear for language.
Joint venture companies refer to the combined efforts of two or more businesses to their mutual benefit. What makes marketing interesting is the challenge of molding the controllable elements of marketing decisions product, price, promotion, distribution, and research within the framework of the uncontrollable elements of the market place competition, politics, law, consumer behavior, level of technology and so forth in such a way that marketing objectives are achieved.
The other problem is to keep up with the changing culture. The global marketer "sells the same thing in the same way everywhere. The fourth decision to make involves how to enter the market. However, there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term.
Identifying competitors and acquiring the required information about them. This analysis will aid the marketer with sufficient understanding of the differences in culture to facilitate the design of effective marketing strategies for the country involved.
International marketing involves many cultural differences that affect the success or failure of a marketing plan in a foreign country. Companies with only domestic markets have found increasing difficulty in sustaining customary rates of growth, and many are seeking foreign markets in which to expand.
Muhlbacher et al delineate international marketing adapted and global marketing standardised. Isolate the SRC influence and try to see how it distorts the problem or goal. For example, the Muslim culture considers dogs to be dirty animals.
The company at its present state does not actively pursue foreign customers and just relies on sales with trading companies and other foreign customers who come directly to the firm.
Americans tend to be rushed and when a business appointment is for a particular time, we find it very rude to be late for that appointment.
The fifth decision involves deciding on the marketing program. What kinds of customers are effectively marketed to with International Marketing? The basic marketing concepts are the same for both the domestic and the international markets. They have to adjust their marketing plan to a culture that is new and unfamiliar to them.
In this stage the company appraises its objectives and goals and decides if the opportunity to market abroad is appropriate. This includes looking at the economic, political, and cultural environment of the country. Basically, the uncontrollable elements make up the culture of the country. By tracking these foreign customers through market research and cultural surveys, marketers can discover the best methods of reaching them.
Partners within a target market help new companies establish themselves in markets where they would otherwise have gone unnoticed. When companies decide to go overseas with their products there are many environmental forces that the marketer will have to confront and adapt to.
Johansson defines global marketing as a bigger brother to international marketing i.International Marketing Task October 10, Sree Rama Rao Sales/Marketing Management The international marketer’s task is complicated than that of the domestic marketer because the international marketer must deal with at least two levels of uncontrollable uncertainty instead of one.
International Marketing Task Model Marketing Controllables a) The successful manager constructs a marketing programme designed for optimal adjustment to the uncertainty of the business climate. The inner circle in Figure represents the area under the control of the marketing manager.
This then makes the international marketer’s task more complicated as he now has to deal with two levels of uncontrollable uncertainty instead of one.
Besides the uncontrollable elements of the domestic environment, he has to deal with each foreign country’s unique uncontrollable factors as well.
This chapter will explain what international marketing is, its task and how to deal with the marketing controllable and domestic and foreign uncontrollable. Also addressed is the issue of adjusting to the environment and the effective use of the SRC. International marketing is based on an extension of a company’s local marketing strategy, with special attention paid to marketing identification, targeting, and decisions internationally (See also Local Marketing).
The activities that take place on a marketing platform that has recently been established outside the home country or parent country are known as international marketing tasks. The outcome of a marketing plan is affected by certain uncontrollable elements.
These elements include competition, culture.Download