International Marketing

Defining International Marketing:

• “Marketing is defined as a process by which individuals and groups obtain what they need & want by

creating and exchanging products and value with others.

• The term “International Marketing” refers to exchanges across national boundaries for the satisfaction

of human needs and wants.

 Global industries are defined as those where a firm’s competitive position in one country is affected by its

position in other countries, and vice versa.

 Domestic marketing:

 Domestic marketers tend to be ethnocentric (focus is solely on domestic market) & pay little attention to

changes taking place in the global market place.

• Such firms produce and sell products and services only in their home country.

• Firms that keep focus only on their domestic markets may be vulnerable to the sudden changes forced on

them from foreign competition, when foreign firms enter the markets or even when foreign firms develop

better or cheaper products.

Export marketing:

 Exporting firms fulfill unsolicited / solicited orders from foreign countries.

 For growth in export marketing, however, a company requires physical, financial and managerial resources.

 When a firm attempts to export it faces many issues that include difficulties in import/export restrictions,

cost and availability of shipping, exchange rate fluctuations, collection of money, development of

distribution channels etc.