International marketing
A firm's international marketing program must generally be modified and adapted to foreign markets. This international marketing program uses strategies to accomplish its marketing goals. Within each foreign nation, the firm is likely to find a combination of marketing environment and target markets that are different from those of its own home country and other foreign countries. It is important that in international marketing, product, pricing, distribution and promotional strategies be adapted accordingly. In order for an international firm to function properly, cultural, social, economic, and legal forces within the country must be clearly understood. The task of International marketing is more difficult and risky than expected by many firms. One of the most controlling factors of international marketing is management. It is very important for managers to recognize the differences as well as similarities in buyer behavior. Many mistakes can occur if managers fail to realize that buyers differ from country to country. It is the international differences in buyer behavior, rather than similarities, which cause problems in successful international marketing. An international marketing manager is a manager responsible for fac
To be a successful manager of international marketing, one must be able to discern the differences as to what must and must not be done. As established, culture plays an important role in the drama of international marketing. Of all the cultural aspects, communication may be the most critical. It is certain that communication has been involved in a number of cultural confusion. Good communication linkages must be set between a company and its customers, suppliers, employees, and the governments of the countries where it performs business activities. Poor communication can obviously cause various difficulties. One source of difficulty among starting companies is that of effective communication with potential buyers. The problem is that there are many possible communication barriers. Sometimes messages can be translated incorrectly, regulations overlooked, and economic differences can be ignored. Other times when the message does arrive, its ineffectiveness can cause it to be of no value. Every now and then a buyer will receive the message, but to the companies disappointment, the message was sent incorrect. It is normal in multinational businesses to send and receive messages on a regular basis. Many well-known people have incapacitated public speech introductions by using inaccurate titles and names. Not all communication problems are verbal. Some serious problems have occurred as a result of non-verbal communication. Non-verbal communication exists in numerous forms. Sometimes a person's appearance can convey a stronger message than intended. Untidy attire, for example, can be more offensive in some nations than in others. The local people often are willing to overlook most of the mistakes made by tourist. On the other hand, locals are less tolerant of the errors of business people. It is very important to be able to interpret the different means of communication in international marketing. A firm can also manufacture its products in its home country and export them for sale in foreign markets. Like licensing, exporting can be a relatively low-risk method of entering foreign markets. Unlike licensing, it is not an easy task. Exporting opens up several levels of involvement to the exporting firm. On the basic level, the exporting firm may sill its products to an export/import merchant. This merchant assumes all the risks of product ownership, distribution, and sale. It may purchase the good's in the producer's home country and assume responsibility for exporting the product. The exporting firm may also ship its products to an export/import agent. The export/import agent arranges the sale of the products of foreign intermediaries for a commission or fee. The agent is an independent firm that sells and may perform other marketing functions for the exporter. The exporter retains title to the products during shipment and until they are sold. An exporting firm may also establish its own sales offices in foreign countries. These installations are international extensions of the firm's distribution system. The exporting firm maintains control over sales, and it gains both experience and knowledge of foreign markets. Eventually, the firm may develop its own sales force to operate in conjunction with foreign sales offices or branches. One of the most basic levels of international marketing is licensing. A license is a contractual agreement in which one firm permits another to produce and market its product and use its brand name in return for a royalty or other compensation. This grant may be in the form of a direct sale of rights or be limited to a certain period of time. International licensing can be tied to joint ventures between the parent and the subsidiary. For example, an American candy manufacturer might enter into a licensing arrangement with a British firm. The British producer would be entitled to use the American firm's candy formula, and packaging to advertise the candy as though it were its own. The advantage
Some common words found in the essay are:
United Consider, , India Company, Trade GATT, PACKAGING America, Middle East, Hong Kong, international marketing, foreign markets, marketing program, exporting firm, joint ventures, market product, marketing product, product promotion, foreign market, markup percentage, cultural social economic, international marketing manager, maintain regulations concerning, environment target markets, regulations concerning products,
Approximate Word count = 3014
Approximate Pages = 12 (250 words per page double spaced)
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