International marketing

The role international marketing can hardly be overestimated. As global economic growth occurs, understanding marketing in all cultures is increasingly important. International marketing (IM) or global marketing refers to marketing carried out by companies overseas or across national borderlines.

It includes:

- market identification and targeting,

- entry mode selection,

- marketing mix (= 4p – product, promotion, price, place если шо)

- strategic decisions to compete in international markets

This strategy uses an extension of the techniques used in the home country of a firm. But very often laws and regulations, traditions and culture of a foreign partner can be very different in comparison with domestic ones. That is why there is a need in a carrying out different kinds of analyses and getting all the necessary information about the country to deal with. Without the understanding of cultural and structural differences between countries, even leading global corporations can fail in specific markets.

Due to deregulation and technological advances in transportation and communication, companies can market in (зд. Пробиваться на новые рынки) and consumers can buy from almost any country in the world. In this situation of heightened competition, it is important for companies to offer products that would be of interest in the global marketplace and also adjust their product and service features to each country’s different cultures and values. They must choose what to produce, and how to price and communicate their products considering the different legal and political differences, language, and currency fluctuations. The company should “think globally and act locally”.

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1. Mode of engagement in foreign markets:

- Exporting (which is further divided into direct and indirect exporting)

- Investments (совместные предприятия как пример)

- Contract manufacturing

- Franchising

- Licensing (A contractual agreement whereby one company (the licensor) makes an asset available to another company (the licensee) in exchange for royalties (гонорары), license fees, or some other form of compensation)

The relationship between licensees and the licensing company is looser than the relationship between franchisors and franchisees. In most cases, the licensee does not retain rights to use the company’s trademark. Instead, the licensee is expected to establish its own identity in the marketplace.

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Дата добавления: 2015-11-16