International Marketing Management

A 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 be adapted accordingly. In order for an international firm to function properly, cultural, social, economic, and legal forces within the country must be clearly understood.

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 “Mayo” family, these world renowned physicians travelled the world comparing notes and surgical approaches as well as adopting international patients, creating an international legacy.

Franchisors are increasingly having to be more and more selective in the adoption of franchisees with factors such as economic climate and the potential difficulty with growth playing key factors in the decision making process. It is not simply an ability to grow which creates a successful Franchise and nor is it the desire of any franchisor to adopt every potential franchisee. Franchisors are becoming more and more scrutinising as the global economy declines. There is a general understanding within any franchised

Davies J. (2015, p. 62) adds that “a franchise is generally a form of business organization in which a franchisor as owner of a trademark or trade name conveys to one or more independent entities, the franchisees, the right to market a product or service, usually within a specified geographic area and subject to a number of franchisor-imposed constraints. The wider franchise system is essentially a virtual organization comprising

In a franchise, the Franchisor sells the rights to sell its proprietary good/service to third parties or Franchisees. Both of the parties then sign a franchise agreement, which lasts for any agreed period, but generally between, 5 and 30 years. Once the franchise commences to function the Franchisee pays a royalty payment has to the franchisor on a monthly, quarterly or annually basis. The franchisor does not have liability and is not responsible for any activity in the franchisees business and does not have any employment liability, and are not responsible for any of the on job injuries in the franchisees business.

Franchising means that you have the right to use the brand name of other business or we can say that when the owner of the business like the franchisor of mc Donald allow you to use their trade mark or company name then it is called franchising. This is the good way for franchisor to expand their business all over the world.

The original formula for Red Bull was developed in 1964; however, the Red Bull company was not founded until 1984 after a merger between Dietrich Mateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to “treat jet lag and boost energy for truck drivers” (Hollensen, 2012). In today's 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 Jägerbomb. This aligns with the company's focus on the younger generations of partygoers and post-secondary students.

In franchising strategy,the franchisor normally has control(whether have the control) of the distribution method of the product,and franchisee is not allowed to produce the product,it can only acquire the products from the franchisor.And the franshisor can get a certain amount of fee from franchisee for its use of franchisor's brand ,trademark and customer reputation,While franchising could bring a lot of benefits to the manufacturers such as rapid,low-cost market expansion,incomes from franchisee,it also has some disadvantages such as the franchisor has to share profit with

During the years after market entry, therefore, the rate of change in the country-specific marketing capability of the firm is likely to be greater than the rate of change in the market environment, and firm effects may dominate market effects in shaping strategy. This is particularly important given the business context, in which the generation of new business is of prime importance—rather than efficiency in managing a relatively stable business. This usually results in (a) entering the market via a partnership with a local distributor or other marketing agent rather than via a directly controlled marketing unit and (b) a relatively rapid sequence of changes to the marketing strategy (such as new product introductions or expansion of distribution) or to the marketing organization (e.g., taking over marketing responsibility from the local distributor).

Franchises are across the world these days’ place like McDonalds,7eleven and Burger king have been around for a while and will continue until the day the world dies. A franchise is a business relationship in which a franchisor grants a license to another business a franchisee. To become a Franchise is not an overnight task. Capital needs to be raised to purchase the franchise most franchises can be up to one million dollars or more. After raising capital, a franchise can be purchased, but there are rules and regulations that must be followed. Franchisees have duties and responsibilities they have to account for. Then the franchise agreement that needs to be followed to the letter.

Franchising is a common term in daily life, business discourse, and the law. Nevertheless, the term is used in different contexts and with different meanings. Coughlan, Anderson, Stern, and El-Ansary employ the European Union’s description of franchising as a “…package of industrial or intellectual property rights.” The EU identifies three features of franchising—a common name or sign, with a uniform presentation of the premises, communication of know-how from franchisor to franchisee, and continuing provision of commercial or technical services by the franchisor to the franchisee.

According to Hill, Jones, and Schilling (2015), franchising is a strategy in which the franchisor or the founding company grants the franchisee, the purchasing company, the right to use the franchisor’s name, reputation, and business model in return for a fee and often percentage of the profit. The business must operate under strict guidelines, follow the rules, regulations, and standards given by the founding franchisor (Hill, et al 2015, p. 182). In return this creates a business relationship between the two. According to Ribeiro, D., & Akehurst, G. P. (2014) franchising has become a major driver of business development and franchisor brand equity is a critical factor with a clear impact on the perception and behavior of the franchise. Franchises brings together independent companies and establish agreements between two parties.

Franchising is a business strategy for getting and keeping customers. It is a marketing system for creating an image in the minds of current and future customers about how the company 's products and services can help them. It is a method for distributing products and services that satisfy customer needs. Franchising is a network of interdependent business relationships that allows a number of people to share and experience the brand. It is a successful way of promoting brand identification.

The idea of franchising has been a thought that dates all the way back to the middle ages when landowners would grant peasants to hunt, hold fairs, and hold markets on their land. It was not until 1858 that franchising became an important industry. Today, franchising is still one of the largest industries in existence (“The History Of Franchising,” n.d.). Franchising is an agreement between a party (Franchisor) who gives the privilege to another individual (Franchisee) to own, manage, and run his or her business in another place with certain expenses that the franchisee is responsible for and laws that the franchisee must abide by.

In the business world there are many routes businesses can take to try to ensure a successful venture. There are sole proprietorships, partnerships, limited liability partnerships, corporations, limited liability corporations, S corporations, and then there is franchising. A formal definition of franchising is “a continuing relationship in which a franchisor provides a licensed privilege to the franchisee to do business and offers assistance in organizing, training, merchandising, marketing and managing in return for a monetary consideration” (Franchising, n.d.). In simpler terms, franchising is paying someone for their business, marketing, and operations strategy, as well as the use of their name (Obringer, n.d.). Discussed next are the important roles in franchising.