The document discusses the various activities and considerations involved in international marketing, including assessing foreign markets, developing standardized or adapted product strategies, pricing policies, promotion strategies dealing with issues like language and cultural differences, distribution channel options, and transportation logistics. It also examines factors that influence whether companies should standardize or adapt their branding and products for different international markets.
2. MARKETING
Marketers everywhere must
Know their markets
Develop products or services to
satisfy customers’ needs
Price the products or services so
that they are readily available
Make them available to the buyers
Inform potential customers and
persuade them to buy
3. INTERNATIONAL MARKETING
• Refers to the process of identifying the goods
and services that customer outside the home
country wants and then providing them at the
right price and place.
4. DOMESTIC AND INTERNATIONAL
MARKETING
On the basis of DOMESTIC INTERNATIONAL
SCOPE Limited and will eventually dry Endless opportunities and
up. scope.
BENIFITS Less as compared to As is obvious, more benefits.
international marketing.
SHARING OF TECNOLOGY Limited in the use of Allows use and sharing of
technology. latest technologies.
POLITICAL RELATION Nothing to do with political Leads to improvement in
relations. political relations between
countries and also increased
level of cooperation as a
result.
BARRIERS No barriers. Many barriers such as cross
cultural differences,
language, currency,
traditions and customs.
6. ACTIVITIES IN INTERNATIONAL
MARKETING
Economic Env. Political/Legal Env.
Product Price
Socio-cultural
Environment
Environment
International
Financial
Customer
Promotion Distribution
International Economic Institutions and
Agreements
7. MARKETING AND OTHER
FUNCTIONS
Operations
Management Accounting
Marketing
Human
Finance Resource
Management
9. INTERNATIONAL MARKET
ASSESSMENT
Assess
alternative
foreign
market
Select
market for
entry or
expansion Evaluate :
cost,
benefits and
risk
10. INTERNATIONAL PRODUCT
STRATEGIES
Local and International
Environment
Product Firm’s
Competitive Internal
Situation Strategies
Situation
Customer Needs &
Price
Elasticity
11. STANDARISATION AND ADAPTATION
Developing same product for Modifying product to reflect
multiple countries. characteristics of a market.
Premise:-consumers share
some common values, Premise-- consumers are not
the same.
beliefs, and consumption
patterns.
Advantages: improved fit
Advantages: economies of between product and
scale and scope, price consumer, expanded
competitiveness, penetration
uniform image
12. FACTORS FAVORING PRODUCTS
STANDARDIZATION VERSUS
ADAPTATION
Standardization Adaptation
• Differences in technical standards
• High cost of Localization
• Primarily consumer and personal-use
• Primarily industrial products products
• Convergence and similar tastes in • Variation in consumer needs and
applications
diverse country markets
• Variations in conditions of use
• Predominant use in urban
environments • Variations in ability to buy-differences in
income levels
• Marketing to predominantly similar
countries e.g. Scandinavia • Fragmentation, with autonomous
national subsidiaries
• Centralized management of
international operations when mode • Strong cultural differences, language,
of entry is mainly exports etc., affecting purchase and use
• Strong country-of-origin image and • Local environment-induced adaptation:
effect
differences in raw material available,
• Scale economies in production, government-required standards and
marketing, and R&D regulations
• Standardized products marketed • Adaptation strategy successfully used
competitors by competitors
13.
14. Brand Decision
• What is Brand ?
• Brand name are one of the most valuable
assets which companies possess.
• Brand Equity
15. Issues Relating to Brand Name
• Whether or not to use uniform brand
internationally…?
• Expansion to the overseas market
• Image issue
• Legal and cultural factors
16. Pricing issue & Policies
• Standard Price Policy
• Two tiered pricing
• Market Pricing
17. PROMOTION ISSUES AND POLICIES
4 elements of promotion mix:-
a)Advertising
b)Personal selling
c) Sales promotion
d)Public relation
18. Constraints on advertising
• Language difference
• Government control
• Agency availability
• Economic difference
• Cultural diversity
19. Advertising programs
• Message
The message it wants to convey
• Medium
The media available to convey the message
• Global vs. local advertising
The extent to which the firm wants to globalize its advertising
efforts
20. Advantages of Personal Selling for
International Firms
• Local sales representatives understand local culture,
norms, and customs.
• Personal selling promotes close, personal contact with
customers.
• Personal selling makes it easier for firm to adopt
valuable market information
21. Sales Promotion
Sales promotion comprises specialized
marketing efforts designed to offer an
incentive for behavior such as coupons, in-
store promotions, sampling, direct mail
campaigns, cooperative advertising, and trade
fair attendance.
22. Unique forms of international
promotion
Government Role
Trade Fair
Barter And Countertrade
Bribery
Miscellaneous Measures
23. Public Relations
Public relations consists of efforts aimed at
enhancing a firm’s reputation and image
with the general public, as opposed to
touting the specific advantages of an
individual product or service.
24. Channels of Distribution
Firms make use of two principles channels of distribution when
marketing
1) Indirect selling-
also known as local or domestic channel ,is employed when a
manufacture markets its product through another firm form the same
country that acts as intermediary.
2) Direct Selling-
Is employed when a manufacturer develops an overseas channel Here
the firm directly deals with a foreign party without going through an
intermediary in the home country.
25. Eight guidelines have been advocated to make
multinational distributors partnership
1) Select distributor , don’t let them select you.
2) Treat the local distributors as long term partners , not temporary
market entry vehicles.
3) Support marketing entry by committing money, mangers , and proven
marketing ideas
4) From the start, maintain control over marketing strategy.
5) Make sure distributors provide you with detailed market and financial
performance data.
6) Build links among national distributors at the earliest opportunity.
7) Understand host country culture
26. Physical Distribution
Average time required to move a product from “firm to shelf “ is
four to five months .Although it takes only about seventeen
minutes to produce a product, the rest of the time is spent on
logistical activities – storage handling ,transition, packaging etc .
International logistics costs can account for 25 to 35 percent of the
sales value of a product
27. MODES OF TRANSPORTATION
The three fundamental means of transportation are:-
1.Air
2.Water (ocean and inland)
3.Land (rail and truck)
