CHAPTER 7:
ERNATIONAL MARKET
MANAGEMENT
INTRODUCTION
International marketing is the application of
marketing principles by industries in one or
more than one country. It is possible for
companies to conduct business in almost any
country around the world, thanks to the
advances in international marketing.
In simple words, international marketing is
trading of goods and services among different
countries. The procedure of planning and
executing the rates, promotion and
distribution of products and services is the
same worldwide.
In recent times, companies are not restricted to
their national borders, but are open for
international marketing. With the increasing
change in customers’ demands, choices,
preferences and tastes, the economies are
expanding and giving way to more competitive
marketing. Thus, organizations need to respond
rapidly to the demands of the customers with
well-defined marketing strategies.
COURSE OUTCOMES:
After successfully completed this module, students will be able to:
Understand the international marketing management
Analyze the factors influencing international business and trade
Analyze the implication of globalization to international business and
trade
Evaluate a business scenarios that provides international business
and trade opportunities
Definition, Scope, Factors, Significant, Strategy and Characteristic of
International Marketing Management.
WHAT IS
INTERNATIONAL
MARKETING?
International marketing is the process of marketing
goods or services to customers in more than one
country. This process can be as simple as selling
goods to customers in a neighboring country or as
complex as selling goods to customers in multiple
countries around the world.
Companies that engage in global marketing must
be aware of the cultural, political, and economic
differences between countries. They also need to
be aware of the different marketing channels that
are available in different countries.
International marketing is the process of adapting a
company’s products, services, and marketing
strategies to fit the needs and wants of customers in
foreign markets. To put it simply, global
marketing involves marketing products to people all
over the world.
It involves all aspects of marketing,
including market research, product development, adv
ertising, promotion, pricing, and distribution.
International marketing is important for companies
that want to expand their operations into new
markets.
HOW TO ENTER THE
TERNATIONAL MARK
Exporting is the process
of selling products or
1. EXPORTING
services in another
country. This can be
done through a variety of
channels, including
online channels, brick-
and-mortar stores, and
distributors.
Licensing allows a company
2. LICENSING
to grant another company the
right to use its brand name,
trademark, or patents in
another country. This is a
popular option for companies
that want to enter new
markets but do not want to
bear the full costs of setting
up operations in those
markets.
Franchising is a type of
3. FRANCHISING
licensing in which a company
grants another company the
right to use its brand name INTERNATIONAL
and business model in FRANCHISING
another country. Franchising
is a popular option for
companies that want to
expand their business into
new markets.
4. JOINT VENTURE
A joint venture describes the
combined effort of two
businesses from different
countries to their mutual
benefit.
Foreign direct investment
(FDI) is when a company5. FOREIGN DIREC
INVESTMENT
invests in the operations of
another company in another
country. FDI can take the
form of a minority equity
stake or a majority equity
stake. FDI is often used to
expand a company’s
operations into new markets.
Nowadays, companies need not
6. GLOBAL WEB
go to the international trade shows
to show their products, they can
very well create the awareness
among the customers worldwide
through an electronic media i.e.
internet.Through the company
website, customers can read the
detailed information, generally
written in different languages,
about the product and can order
CHARACTERISTICS OF
INTERNATIONAL
MARKETING
A GLOBAL PERSPECTIVE
INTERNATIONAL MARKET
INTERNATIONAL COMPETITOR
INTERNATIONAL ENVIRONMEN
The major participants in
international
marketing are as follows:
1. Multinational Corporations (MNCs)
2. Exporters
3. Importers
4. Service Companies
How is an international marketing plan developed?
What is the role of International Marketing?
Why is promotion important in International
Marketing?
Why is International Marketing important?
