International Marketing Tactics Has Long Time

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

Today, firms have to deal with a global marketplace; marketers have no other choice. Participation in global marketing has begun to shift from a mere “option” to an imperative. The world is becoming more homogeneous. Distinctions between national markets

The article is divided into four parts. First part focuses on the traditional perspective on international marketing strategies focusing on the dichotomy between standardization and adaptation. The second part examines key assumptions underlying the philosophy of global standardization. The third part focuses on the constraints to implementation of global standardization. The last part of the article concludes on the bases of its review that a more general approach is suitable which incorporates various degrees of standardization or adaptation strategies. It is an important article as it concludes that an effective global marketing strategy does not guarantee the marketing of standardized products and global brands worldwide. It might work for some companies but cannot work for all.

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.

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

This is an international marketing strategy that largely focuses on the commercial efforts and advertising on the benefits of concentrating on local markets rather than using global or universal approach. This, therefore, means that the company will employ work towards understanding culture of different local markets in various countries and try to enter into the studied market using the demographics in that area. The greatest effort required in this strategy is using advertising as well presentation to try and appease local sensibilities in various countries rather than applying a mass market strategy. So that this strategy can be successful it is crucial to carry out extensive research in different countries that the company hopes to invest (Leontiades, 2010). By learning how the company can be able to create a good connection with the consumers in various countries using multi-domestic strategy can assist to build a lot of tactics which can be integrated into markets that have many similarities. Learning how to closely associate with customers will also assist customize marketing and advertising efforts to match with the present local culture. Although multi-domestic strategy may be somehow expensive to employ its end result are more profitable to the company. When the company’s products are able to

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.

Perreault, Jr. W.D. & McCarthy, E. J. (2002). Basic Marketing: A Global Managerial Approach, 14/e. New York: McGra

With the advancement in communication technology, transportation and other technologies the world has shrink into a global village. Products developed in a country are now widely accepted in other regions of the globe as well. Many companies have been developing marketing strategies to fulfill the need, in an increasingly globalize market, for several years. There are a number of companies that are being recognized by and whose brand names are familiar to most of the people in every region of the world. With the span of time, the global competition is becoming more and more intense and is affecting businesses in almost every part of the world. Those domestic companies who have been doing business in a specific region for

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.

The literature on international marketing presents a confrontation between two mainstream schools of thought regarding international marketing. The one supports the standardization approach and argues that multinational companies’ behavior should be uniform to minimize total costs and promote a global corporate image. The other argues for the need for adaptation to fit the unique dimensions of each local market. This research investigates companies’ practical level of adaptation and standardization in international markets. It identifies

The marketing strategy pursued by a company is dictated by many factors, including size, product category, competition, and organizational structure. Strategy as defined in the text is “a planned set of actions employed to make best use of a companies core competencies to gain a competitive advantage”. (1) Implementing a successful internationalization business strategy is not confined to large MNEs, increasingly small to medium enterprises find them selves operating in a global market. A business must clearly understand the value added by its product or service to capitalize on their competitive advantage globally. It is useful to consider the internationalization-responsiveness (IR) framework when discussing the key differences between global, multidomestic and transnational strategies. (2) The framework compares the strengths and weaknesses of each strategy relative to the goal of global integration or local responsiveness. In terms of the IR framework a global strategy emphasizes global efficiency, multidomestic strategy emphasizes the local market and a transnational strategy balances both end goals.

The most challenging decision that a company may face in internationalization is the degree of standardization or adaptation in its operations. The question of standardization or adaptation affects all avenues of a business’ operations, such as R&D, finance, production, organizational structure, procurement, and the marketing mix. Whether a company chooses to standardize or adapt its operations depends on its attitudes toward different cultures. These attitudes are defined by three orientations toward foreign culture: ethnocentric, polycentric, and geocentric.

The nature of international marketing strategies is the foundations of getting a better share of the0020global market. Even with the unique cultures in different communities globally, different consumer trends, different income levels and regulations, multinationals with the right marketing skills and strategies can manage to break through

Marketing concepts, processes and principles are universally applicable and the marketer’s task is the same whether doing business in different countries.