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Text 1 International marketing






International marketing is the export, franchising, joint venture or full direct entry of a marketing organization into another country. This can be achieved by exporting a company's product into another location, entry through a joint venture with another firm in the target country, or foreign direct investment into the target country. The development of the marketing mix for that country is then required - international marketing. It can be as straightforward as using existing marketing strategies, mix and tools for export on the one side, to a highly complex relationship strategy including localization, local product offerings, pricing, production and distribution with customized promotions, offers, website, social media and leadership. Internationalization and international marketing meets the needs of selected foreign countries where a company's value can be exported and there is inter-firm and firm learning, optimization and efficiency in economies of scale and scope. The firm does not need to export or enter all world markets to be considered an international marketer.

Text 2 What is International Marketing?

Marketing is the process that allows you to direct your organisation's goods and services to consumers in order to make a profit. The main difference between domestic marketing and international marketing is that the process takes place in more than one country.

The international market is incredibly diverse, providing business managers with untapped potential and a huge range of profitable opportunities. However, this diversity can make international marketing operations quite complex, requiring the coordination of a variety of processes in order to be successful.

In most cases, the basic marketing principles are applicable to all markets around the world. The difference is that you need to be able to apply those principles in environments that could be significantly different to what you are used to dealing with. Many of the issues international marketers face are outside of their direct control, so they need to be prepared to adapt their strategies to cope with unfamiliar situations and problems.

Some of the issues that can make international marketing difficult include the varying political, economic, cultural, technological and social situations experienced in different countries. As an international marketer, your task is to take the marketing elements that you have control over (research, product, price, promotion and distribution) and adapt them so that they work within your target market.

One of the most important factors to remember is that each market you enter is different. There is no guarantee that what works in one country or region will work in another. This is the reason that many international marketing attempts fail to achieve their desired results. The key to success is your market research and how you use it to effectively adapt your products and services.

 


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