BM 4.6 - International Marketing (HL)

Define international marketing

Marketing of a firm’s goods and/or services in foreign countries

6 advantages of international marketing

• increased customer base

• economies of scale

• increased brand awareness

• spread risks

• wider distribution channels

• extend product cycle

→ fnancially lucrative

4 disadvantages of international marketing

• legal differences (trade abrriers, intelelctual property rights, consumer protection laws)

• political (stability, corruption, approach to biz management)

• social and demographic

• economic costs (exchange rate, transport costs, investment costs)

how do social and demographic factors affect international marketing?

• social - socioeconomic factors, business etiquette, pressure groups

• demographic - age groups and culture norms

define business etiquette

the mannerisms and customs (traditions) by which business is conducted in different countries