International Marketing Essay examples - 481 Words

INTERNATIONAL MARKETING 92% of the world’s consumers live outside the U.S. Thus, international marketing is very important. When selling to foreign markets, one must realize that there are major differences between other countries amp; the U.S. Aside from political and legal differences, there are economic, technological, social (family, religion, education, health ...) amp; cultural differences. Each 1 billion in trade deficit yields a loss of 25,000 jobs. [See text for how international trade is measured and protectionism vs. free trade.] nbsp;nbsp;nbsp;nbsp;nbsp;Gray Goods - Goods imported from unauthorized dealer; problem = no manufacturer’s warranty. nbsp;nbsp;nbsp;nbsp;nbsp;Dumping = Sale of export goods at less than†¦show more content†¦nbsp;nbsp;nbsp;nbsp;nbsp;2nbsp;nbsp;nbsp;nbsp;nbsp;Adapt Only The Promotion - e.g., in most of the world, bicycles are promoted as transportation; in U.S. as leisure. nbsp;nbsp;nbsp;nbsp;nbsp;3nbsp;nbsp;nbsp;nbsp;nbsp;Adapt Only The Product - e.g., Canadians prefer a more bitter beer; Barbie looks Asian in Japan. nbsp;nbsp;nbsp;nbsp;nbsp;4nbsp;nbsp;nbsp;nbsp;nbsp;Adapt Promotion amp; Product - e.g., American cereals in Asia = snack food; therefore, need different flavors (e.g., tofu). nbsp;nbsp;nbsp;nbsp;nbsp;5nbsp;nbsp;nbsp;nbsp;nbsp;Backward Invention - Simplify product amp; use less technology. This makes the product more affordable amp; usable in certain foreign markets. Some Ways To Operate In Foreign Markets nbsp;nbsp;nbsp;nbsp;nbsp;1nbsp;nbsp;nbsp;nbsp;nbsp;Exporting - A company sells what it produces to foreign markets via export merchants (e.g., export trading companies) or export agents (e.g., export management companies) or a firm’s own sales branches. [Risk of tariff amp; devaluation.] nbsp;nbsp;nbsp;nbsp;nbsp;2nbsp;nbsp;nbsp;nbsp;nbsp;Direct Investment amp; Ownership - Investment in production and or distribution facilities can occur either through a wholly-owned foreign subsidiary or a joint venture with a foreign company. [Risk of nationalization.] nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;Joint Ventures - domestic amp; foreign firms become partners.Show MoreRelatedInternational Marketing4703 Words   |  19 PagesMateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to â€Å"treat jet lag and boost energy for truck drivers† (Hollensen, 2012). In todays era, Red Bull is commonly used as an energy drink; like coffee, and as a mixer in alcoholic drinks, like Red Bull Wings and the Jà ¤gerbomb. This aligns with the companys focus on the younger generations of partygoers and post-secondary students.    Red Bull’s marketing strategyRead MoreInternational Marketing1975 Words   |  8 Pagesthe model of the international marketing task displayed in the text, which of the following reasons demonstrates the most important difference between the international marketer s task and that of the domestic marketer? (Points: 1) The international marketer must deal with at least two levels of uncontrollable uncertainty instead of one. The international marketer must rely on at least two levels of controllable certainty instead of one. The international marketer is neverRead MoreInternational Marketing3435 Words   |  14 PagesA 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 beRead MoreImpact Of Marketing On International Marketing1194 Words   |  5 PagesIntroduction 1 Company background and situational analysis in the context of international marketing environment 1 Impact of culture on international marketing strategy 1 Current marketing strategies of the corporation by taking into account the context of marketing research 2 Companies international market selection and entry strategies and marketing mixes 2 The influence of Electronic and digital marketing in an international context on the company’s current and future activities 2 Future directionsRead MoreMarketing Analysis : International Marketing1340 Words   |  6 Pagesin generation ,faster communication high end technology ,improved transport system are making international market more approachable. When businesses looking for global position then hunger give them brand awareness and cost effectiveness. The main process of international marketing is start from the domestic marketing to international marketing and after that try to reach global marketing. Global marketing always refers to the globalization. When its about identical product standardization is importantRead MoreInternational Marketing3763 Words   |  16 PagesChapter 78 – International Market selection and Entry Approaches to market selection ↠ incremental entry vs simultaneous entries ââ€" ¦ incremental → usually for small companies with fewer resources that wants to lower their risk preclude economies of scale. ââ€" ¦ simultaneous → extensive resource thus, resulting in higher operating risk, may decide to leverage across asia pacific area, facilitate economies of scale. ↠ Concentrated approach vs diversified approach ââ€" ¦ concentratedRead MoreMarketing Analysis : International Marketing1749 Words   |  7 Pages Midterm Report Individual Assignment Patrick Marco International Marketing - LMIB2 3rd November 2014 Professor David James Marketing is one of the most fundamental aspects in any business success. In fact it is what you say and the way you say it whilst trying to explain how a certain product or service is, giving your target audience reason why to use or purchase it. Marketing can be a bunch of things, whether promotion, an ad, a brochure or a press release. It can simplyRead MoreInternational Marketing1398 Words   |  6 PagesCase Study Mid Term: International Marketing Research at the Mayo Clinic Minashki Sinanan Summary The Mayo Clinic is a well-known health care provider that treats international and domestic, upper class society. An example of their consumer base is the President of the Republic of Equatorial Guinea, Teodoro Obiang Nguema Mbasogo, who was seen at the Rochester clinic in New York. Founded almost a Century ago by the â€Å"Mayo† family, these world renowned physicians travelled the world comparingRead MoreMarketing Principles : Marketing And International Marketing3590 Words   |  15 Pages Topic Marketing Principle: A In-depth Marketing Study Written By: Rahima Student ID: Module Name: Marketing Principles Submission Date: 1st April, 2015 Executive Summary: In the assignment I discussed about the marketing principles. I discussed the efficient domestic marketing and international marketing process in the whole assignment. In task 1 I discussed about the marketing and marketing elements. In task 2 I discussed about the macro and micro environmental factors of theRead MoreMarketing Analysis : International Marketing2073 Words   |  9 Pagesinternational marketing can include all these activites incluing licensing,importing and exporting, and franchising or the full direct entry of one country into another country for business objectives. This is achieved by one country exporting other countries’ products into its own business environment; it can also enter on franchising terms or through licensing in the country of interest, or direct investment in the foreign country. Market mix development involves product promotion, product pricing