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International Marketing Concepts Explained

This document provides an overview of the basic concepts of international marketing. It defines international marketing as making a country's goods and services available to customers in other countries. The key concepts discussed include the differences and similarities between domestic and international marketing, and different approaches companies can take in international markets such as domestic market extension, multi-domestic orientation, and global orientation. Finally, it outlines some of the major factors that influence international marketing decisions, including internal factors related to a company's capabilities and external factors in the economic, political, legal, and cultural environments in other countries.

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Amit Duhan
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2K views15 pages

International Marketing Concepts Explained

This document provides an overview of the basic concepts of international marketing. It defines international marketing as making a country's goods and services available to customers in other countries. The key concepts discussed include the differences and similarities between domestic and international marketing, and different approaches companies can take in international markets such as domestic market extension, multi-domestic orientation, and global orientation. Finally, it outlines some of the major factors that influence international marketing decisions, including internal factors related to a company's capabilities and external factors in the economic, political, legal, and cultural environments in other countries.

Uploaded by

Amit Duhan
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd

Basic Concept Of International

Marketing

Am i t
Duhan
What to discuss?
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
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
country’s 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 company’s
product& services to more than one country’s
customers for use is known as international
marketing.”
• Van Terpestra, “the process of marketing
beyond the country’s 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
Domestic market extension
The domestic company seeking sales
extension of its domestic products into foreign markets
illustrates this concept to international marketing. It
views its international operations as secondary to and
an extension of its domestic operations; the primary
motive is to market excess domestic production.
Domestic business is its priority and foreign sales as a
profitable extension of domestic extension. Even
through foreign markets may be vigorously pursued,
the firm’s orientation remains basically domestic.
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
Thank you !!

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