page of the text, and compare this to the version number of the latest PDF version of the text on the Business Customs and Practices in International Marketing. PDF Drive is your search engine for PDF files. As of today we have 78,, eBooks for you to download for free. No annoying ads, no download limits, enjoy . Basics of International Marketing. Mode of entry, Product, Positioning, Pricing, and promotion. Biswajit Nag. Indian Institute of Foreign Trade. New Delhi.
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What Makes This International Marketing Chapter Different? Market-Based Management 6th edition. It is available as a free PDF download. 𝗣𝗗𝗙 | Manufacturers often use relational governance to manage interfirm Article (PDF Available) in Journal of International Marketing · January with. PDF | 20 minutes read | On Jan 1, , Bright Chidugam Opara and others published International Marketing.
Luxury products, high-tech products, and new innovations are the most common products in the global marketplace  because they are easier to market due to a lack of traditional cultural values attached to their meanings.
Price[ edit ] The price of a product varies based on factors such as costs of production, target segment, and supply-demand dynamics. There can be several types of pricing strategies, each tied in with an overall business plan.
Pricing can also be used as a demarcation, to differentiate and enhance the image of a product. Place[ edit ] Refers to the point of sale.
How the product is distributed is influenced by how the competition is being offered to the target market. With Coca-Cola, not all cultures use vending machines. In the United States, beverages are sold by the pallet via warehouse stores.
In India, this is not an option. Placement decisions are also affected by the product's position in the market place. For example, a high-end product would not be distributed via a dollar store in the United States.
Conversely, a product promoted as the low-cost option in France would find limited success in a pricey boutique. Promotion[ edit ] Activities undertaken to make the product or service known to the user and trade including advertising, word of mouth, press reports, incentives, commissions and awards to the trade.
Taxes can and do impact your ability to make a profit selling goods and services in a foreign country and will shape your international marketing strategy because of that. High tax rates on goods sold, like those in the USA, can make it hard for a business to stay on the right side of that fine line between profit and loss.
Table of contents
Fees When you market your products for sale in a foreign country, you may be subject to pay certain fees for the right to do that.
These fees can be a one-time deal or recurring, and they can also be quite high in some circumstances if they involve what might be considered luxury items.
Tariffs Tariffs have long been used to balance trade between countries and to protect national companies from losing business to foreign competitors. Currency risks There are always risks when doing business in the currency of a foreign country that you are marketing your product or services to.
If you have your money tied up in a foreign currency and economic events fall just right, your company could stand to lose millions. Other Political Risks and Restrictions: Investment restrictions: Many countries have strict requirements on who can own businesses and do other business-related investments in their country.
Your marketing department needs to be aware of these things. Operational restrictions: Just how much operational control you will have over your overseas business remains to be seen, and that is a concern for some.
Because of some of the restrictions that have been discussed and other requirements for doing business in a foreign country, chances are your business will need an international management team.
This will affect the operational control of your business and has to be factored into any marketing decisions that your company makes. Discriminatory restrictions: Discriminatory practices in a foreign country may inhibit or prohibit marketing your goods and services to that country too.
In many Middle Eastern countries women are not allowed to wear makeup, so if your business is cosmetic sales, then that would be a big marketing factor. There are other types of discrimination that impact marketing decisions too, such as price discrimination.
Factors to Consider For International Marketing
If a country makes the goods in their own country cheaper to download than similar imported goods such as through tariffs and quotas , chances are you may have a hard time selling your goods in that country. Quotas: Quotas work a lot like tariffs when it comes to restricting foreign business profits in another country.
Quotas are also designed to encourage domestic business within a country or state. An example of this is Indonesia, which only allows 60, tons of red onions to be imported into the country every 6 months.
This quota ensures Indonesian farmers they will have a place to sell their onions and encourages them to continue growing them. Your business and your international marketing team must be aware of any quotas a particular country may have in place when you are deciding where to market your goods and services internationally.
Stability These days the stability of a country has to be considered very strongly before you market your product in a foreign country. Wars: Wars can have a very large impact on your business in a foreign country. There were many businesses and business customer bases that became extinct almost overnight when war broke out in Libya. Political Unrest: Political instability in a foreign country can affect your ability to market a product or service to a foreign country too. If you were to invest in marketing products or services in a country such as Egypt now, you would run the risk of losing your customer base if a war breaks out because of the current political instability in the country.
Intangibles A. Environmental Environmental factors will play a role in international marketing and they can have both a positive and negative effect on your international marketing strategy.
If you manufacture a product that does not hold up well when constantly subjected to periods of high heat, you might want to consider that carefully before marketing your heat sensitive product internationally to such places as Saudi Arabia. You must also be aware of places that are regularly affected by such natural disasters as typhoons and earthquakes.
When these types of events happen, they can wipe out your entire customer base in a country or halt their downloading power for extended periods of time, drastically impacting your business.
Regional Partnerships Sometimes companies know it will be difficult to break into a foreign market without the help of other companies that know the nuances of marketing a product to the people there well.
This is why so many companies choose to partner with other companies that are based out of the country whose market they are trying to get into.
An example of this is when McDonalds went into the Indian market, they did it with partners that knew the local business practices and customs; these companies were Hardcastle Restaurants Private Ltd which had a strong influence in western India, and Connaught Plaza Restaurants Private Ltd which were popular in the northern India.
Any prudent international marketing strategy needs to take things like this into account. As you have seen from this article, in order to market your product or service internationally, there are many factors that your business and marketing team must consider before deciding which country or region you want to sell your goods or services to.Economic Factors A.
Consumer Habits Culture and personality combine to shape consumer behavior in every particular region of the world or country. Cultural Factors A. Marketing Strategy,. If you have your money tied up in a foreign currency and economic events fall just right, your company could stand to lose millions.
Your marketing department needs to be aware of these things. An important part is dedicated to describing suitable mixes of marketing policies for firms operating in culturally heterogeneous international markets.
International Marketing , Eighth Edition. Regional Partnerships Sometimes companies know it will be difficult to break into a foreign market without the help of other companies that know the nuances of marketing a product to the people there well.
When you want to market a product to a foreign country you need to first determine whether it is an individualistic society free-thinking culture or a collective society the peer group has the most influence on downloading decisions.