International Marketing. Essay

2726 words - 11 pages

Marketing is an universal economic activity, which is present in every human society. Its activity transcends geographic, political divisions and serves markets wherever they exist.The Chartered Institute of Marketing defines marketing as "Management process responsible for identifying, anticipating and satisfying customer requirement and profitably." (Doole Isobel and Lowe Robin, International Marketing Strategy, Second Edition 1999) The above definition says that marketing is a process which involves, focusing on the needs and wants of customers, identifying the best methods of satisfying wants and needs and orienting the company towards the process of providing satisfaction.Marketing is the framework for comparing relationships between marketing and its environment in two or more countries. Marketing opportunities are not limited within the boundaries or country borders, as it exchanges across boundaries, which requires the desire and ability to interpret an unfamiliar environment for those opportunities.There are several stages through which a firm may go as it becomes increasingly involved across borders. A purely domestic firm focuses only on its home market, has no current ambitions of expanding abroad, and does not perceive any significant competitive threat from abroad. As the firm begins to export more, it enters the export stage, where little effort is made to market the product abroad, although an increasing number of foreign orders are filled. In the international stage, as certain country markets begin to appear especially attractive with more foreign orders originating there, the firm may go into countries on an ad hoc basis. In the multi-national stage, some efficiency is pursued by standardizing across a region (e.g., Central America, West Africa, or Northern Europe). Finally, in the global stage, the focus centers on the entire World market, with decisions made optimize the product's position across markets--the home country is no longer the center of the product. An example of a truly global company is Coca Cola..A global marketing is a process in which the entire organization focuses on the selection and exploitation of global marketing opportunities. International marketing has a predominate aspect of world history and it is an old as humanity. The Chinese traded with Mongols, Aztecs with Mayas, Phoenicians with Minoans, Romans with Egyptians, American Indians with colonists, and on and on. The key elements in international marketing are to recognize foreign opportunities to interpret the external uncontrollable environment and to understand how the firm's resources match requirements for a profitable marketing exchange.International marketing continues to be motivated by economic as well as other objectives. Therefore it is important for the international business to recognize that the world is seen as market segmented by social and cultural, legal, economic, political and technological groupings. Social and cultural factors...

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