Skip to main content

INTERNATIONAL MARKETING

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 the trading of goods and services among different countries. The procedure of planning and executing the rates, promotion, and distribution of products and services are 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 customers with well-defined marketing strategies.
The word "International Marketing" is defined as the exchange of goods and services across national borders to meet the requirements of the customers. It includes customer analysis in foreign countries and identifying the target market.
The major participants in international marketing are as follows:
  • Multinational Corporations (MNCs): A multinational corporation (MNC) is an organization that ensures the production of goods and services in one or more countries other than its home country. Such organizations have their offices, help desks or industrial set-up across nations and usually, have a centralized head office where they coordinate global management.
  • Exporters: They are the overseas sellers who sell products, and provide services across their home country by following the necessary jurisdiction.
  • Importers: They are the overseas buyers who buy products and services from exporters by complying with the jurisdiction. An import by one nation is an export from the other nation
  • Service companies: A service company generates revenue by trading on services and not on physical commodities. A public accounting company is the best example of a service company. Revenue here is generated by preparing returns of income tax, performing audit-services, and by maintaining financial records



Comments

Post a Comment

Popular posts from this blog

EMOTIONAL BRANDING MERGED WITH SOCIAL MEDIA Companies and customers co-exist. Without any customer, no company can survive and on the other hand, if there is no need, want or desire of the customers, there will be no need of company. So, companies market their products and services to customers and customers need products and services to fulfil their needs, wants and desires. To obtain a better relationship with customers, companies need to make themselves strong yet humble in nature and continuously try to improve for better. This will enhance them to gain customer loyalty, customer retention and gaining more customers. In this cut-throat market today, where each company is trying best to survive itself in customers’ minds. Doing SWOT analysis (identifying strengths, weaknesses, opportunities and threats) from time to time, making use of proper resources, implementing extraordinary tools and techniques of marketing has become the need of the hour to create POD (Point of Diff...
10 comments
Read more

SELLING PRODUCT ONLINE: CONCEPT AND NECESSITY

To sell the product online, we need to understand concept of E-retailing or simply E-tailing. E-retailing  or E-tailing is defined as, "The sale of goods and services through the Internet." Electronic retailing, or e-tailing, can include business-to-business and business-to-consumer sales. E-tailing revenue can come from the sale of products and services, through subscriptions to website content, or through advertising. E-tailing requires businesses to tailor traditional business models to the rapidly changing face of the Internet and its users. E-tailers are not restricted solely to the Internet, and some brick-and-mortar businesses also operate websites to reach consumers. Online retailing is normally referred to as e-tailing. Now for the product to be sold online, let us think why is it necessary for us to sell our product online and what benefits can we achieve from it? Why should we decide to go online? In my view, the answer is changing Consumer Behaviour....
9 comments
Read more

CUSTOMER IS NO LONGER A GOD: MARKETING REVOLUTION

"Customer is a God". The thing that everyone has heard and believed. But in rapidly changing time, this statement has become questionable and is seen as an outdated concept. Today, producers or rather marketers are producing customers. They are not only catering to the present needs of customers, but are offering customers such products which can convert customers' wants to needs, be it for short duration. Producer/marketers are opting to remain in front of customers, ahead of customers and then developing a curiosity market. Rather being able to become price sensitive, marketers are persuading to become candy customers. So the question arises are customers god or are producers God. Slowly and gradually, roles of customers and producers are indulging in a revolution.
8 comments
Read more