Bumkt3705 International Marketing Cd Summer 2012-2013

Course Description This course involves an integrated analysis of the role of marketing within the total organization. Specific attention is given to the analysis of factors affecting consumer behavior, the identification of marketing variables, the development and use of marketing strategies, and the discussion of international marketing issues. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents:   University policies: You must be

At its basic understanding, international marketing engages the firm in making one or more marketing mix decisions across national boundaries. At its complex level, it involves the firm in establishing

The first recommendation for this firm is to adopt a global policy and try and explore new markets so that market growth and market share can be expanded. In case of a firm entering an international market, it requires to analyze the nature of the market and suitably form its marketing strategies in alignment with its business strategy and decide whether it is more beneficial to adopt a global approach or use a strategy that is customized to suit the needs of the local customers.

This course reviews the organization for international marketing, foreign demand analysis, product development and policies, trade channels, promotion policies, pricing, and legal aspects. Emphasis is on development of effective international marketing strategy addressing the major global market areas (Europe, Africa, Asia, and the Americas).

1. To what extent is a global approach to international marketing appropriate to firms in the Asia-Pacific?

The information I collected in this paper is mainly from network as well as books available at Library. I found most information in electric sources, like E-books, E-journals, etc., by a wide on-line research. Beside, books in related to international marketing at Library also helped me a lot. By going through a couple of marketing books and journals, I managed to find some extremely useful information.

International marketing is the export, franchising, joint venture or full direct entry of a marketing organization into another country. • To bring countries closer for trading purpose and to encourage large scale free trade among the countries of the world. • To bring integration of economies of different countries and there by to facilitate the process of globalization of trade. • To establish trade relations among the nations and thereby to maintain cordial relations among nations for maintaining world peace. • To facilitates and encourage social and cultural exchange among different countries of the world. • To provide better life and welfare to people from different countries of the world. • To provide assistance

For adopting the right marketing strategy is crucial to evaluate and take into attention all social factors, social constructed behaviour and interpretations which is affected by their broader social force, structures or process (Saunders, Lewis & Thornhill, 2003) that may influence company in the foreign market (Hill, 2001).

When external marketing becomes increasingly more important and successful for the business, they will begin seeking new sources of growth and profit. New countries serve as new markets, thus international marketing begins. International Marketing is approached by concentrating product and promotional strategy to a given foreign market. Furthermore, an international marketing firm has polycentric orientation with emphasis on product and promotional adaptation in foreign markets whenever necessary. They make strategic decisions that are tailored to suit the cultures of the foreign countries. The company may establish an independent foreign subsidiary in each and every foreign market it services ­ such efforts are also called multi-domestic

Two opposite viewpoints for developing global marketing strategy are commonly expounded. According to one school of thought, marketing is an inherently local problem. Due to cultural and other differences among countries, marketing programs should be tailor-made for each country. The opposing view treats marketing as know-how that can be transferred from country to country. It has been argued that the worldwide marketplace has become so homogenized that multinational corporations can market standardized products and services all over the world with identical strategies, thus lowering their costs and earning higher margins.

In the past decades, the role and form of marketing has rapidly evolved to match the now global environment. This rapid growth and change has made it necessary for

International marketing is marketing carried out by firms overseas or across national borderlines. This strategy is an extension of the marketing techniques applied in the domestic market to meet the different demands, buying patterns, demographics and market segments of overseas customers.

The concept of international marketing, clarify the activities of purely domestic markets and the difficulties of marketing on international basis and enable to gain the gratitude of complexities of international market, or it can be illustrate that IM at its lowest level involve to make one or more firm or market mix agreements across national limits. On the other hand IM at its highest level, include the firm to involve in manufacturing, processing facilities, coordinating market strategies all around the world. Thus IM includes:

International marketing opens a new avenue for a company to grow as well as face with pending challenges of competition (Craig & Douglas, 2005). Overreliance on the domestic market compromises a company potential at the onset of new cultures and expansion of competing companies in the domestic turf (Malhotra, 2004). With this in mind, it is recommended that a company XYZ Inc. should consider expanding its market outreach by venturing in the international market. In trying to venture in the international market, a marketer is faced with a challenge similar that of visiting a foreign planet.

The importance of “Marketing” as a concept, a practice and an orientation as being fundamental to the competitiveness and the survival of any business entity cannot be over emphasis in today’s business environment. (Kotler, 2011). Most businesses are expanding and getting into new market areas for economic and strategic reasons and it is becoming increasingly difficult, if not possible, for companies to insulate themselves from the effect of international marketing environment, even if their products are designed for purely local environment.