4.6 International Marketing (HL ONLY)

international marketing

The marketing and selling of a firm’s products or services in foreign countries, other than its original domestic market.

International Marketing - Opportunities

Wider customer base

Increase brand recognition

Extend product life cycle

Spread risks

Economies of scale

Wider distribution channels

Higher profits

International Marketing - Threats

Social and Demographic - income, ageing population, birth rates, language, business etiquette etc

Political - political stability, protectionist measures, political unrest etc

Legal - advertising laws, legal ages for different products, intellectual property rights etc

Economic - Exchange rates, inflation, interest rates etc

Internal methods

Exporting goods

Foreign Direct investment

Setting up production facilities

E-commerce

External methods

Joint venture

Strategic alliance

Mergers & acquisitions

Franchising

Licensing

GLOBALISATION:

The growing integration and interdependence of the world’s economies...

resulting in cultures and tastes converging at an accelerating pace!

• help imporve intenatinal marketing strategies

Global Marketing

An extension of international marketing

It involves selling the same product using the same marketing approach throughout the world

Glocalisation

The use of a differentiated international marketing mix to meet local tastes and cultures.

Business etiquette

mannerism and customs (traditions) by which business is conducted in different countries.