Term Paper on "International Marketing Is Really No Different Form"

Term Paper 12 pages (4189 words) Sources: 20 Style: Harvard

[EXCERPT] . . . .

International marketing is really no different form the study of domestic marketing. Do you agree or disagree with this statement?

I am in agreement with the statement that international marketing bears close resemblance with the study of domestic marketing. This is because International marketing is nothing but the marketing across geographical boundaries and it ascribes to the strategy, process, and implementation of activities relating to marketing on the global turf. International marketing can be defined as any marketing activity involving the sale of goods and services of a particular nation in another nation dependent on the regulatory guidelines framed by that nation. The 1990s ushered in the strategic concept of marketing which is regarded as the important evolution of traditional concept of marketing thought; that changed the attention of marketing from customer or the product to a more broad-based one i.e. customer in the perspective of the extensive external environment. In order to be successful, marketers must be aware of his customer in a perspective inclusive of competition, government policy and laws, and the more extensive economic, social and political macro forces shaping the evolution of the markets. Translated to the concept of international marketing, this might imply working with the home-country trade negotiators of government and other officials and industry competitors in order to get access to a target-country market. (Introduction to International Marketing, n. d.)

It would just be wrong to declare that domestic and international marketing are similar in nature but not in scope, implying that international marketing is just domestic marketing on a much broader scale. Domestic marketing entails a set of uncontrollables which emerge from the domestic market. International marketing is far complex since a marketer experiences two or more sets of uncontrollable variables emanating from several countries. The marketer must deal with different culture, legal, political, and monetary system. The varying environment within the framework of which the marketing plan is executed might at times rule out consistent marketing strategies across nations. (Onkvisit; Shaw, 2004, p. 5)

International marketing refers to the system of identifying the goods and services which the customers outside home country desire and subsequently supplying them at the appropriate price and quality. Taken from this viewpoint, international marketing is almost identical to domestic marketing. Now we shall make a comparison between domestic and International markets. Environmental factors that are controllable and uncontrollable render international marketing intricate as compared to domestic marketing. Domestic marketing is inhibited by controllable as well as uncontrollable factors, the first one comprising price, product and promotion and the latter including economic, legal, political, and competitive forces. The domestic marketing manager must comprehend each of these controllable and uncontrollable factors in an objective manner and emerge with the correct marketing strategies. From the level of complexity, international marketing is far more complex as the marketer encounter a lot of forces that are uncontrollable from different countries. The marketing mix of a company is required to be changed to align with different environments. The changing environments might make uniform marketing strategies across nation redundant. For instance, McDonald's even though popular for its American symbols and benchmarks, has become flexible in foreign shores. (Aswathappa, 2006, p. 284)

Understanding the value of foreign markets as also local customs, the company tailors its menu across geographical regions. While assuming any marketing function, the job comes to be more intricate in international marketing. Considering, pricing for example, in domestic marketing, the price fixation is a complex work. Pricing is increasingly complicated in international markets due to the added issues connected with tariffs, dumping laws, inflation, and currency conversion. Besides, problems surface in international advertising also. A lot of companies experience the problem of language translation while releasing ads in foreign markets. Problems might also crop up while choosing media in foreign markets. Sometimes, the media used in the domestic market might not be obtained in foreign markets immediately. In domestic marketing, language translation might not appear to be an issue, save in nations such as India known for its plural culture. Problems crop up while selecting an agency to make and put the advertisements of the company. Along with the development in multinational corporations, increasing number of multinational agencies has also emerged in the scene. The question remains to assign the work either to a local agency or a multinational agency. However, a domestic marketing manager is not bothered about these problems. (Aswathappa, 2006, p. 284)

In international marketing, transactions happen almost regularly between governments, semi-governments companies. For example, companies such as Boeing deal with industrial markets exclusively. The marketing mix of a company functioning in international markets is established by the factors that are beyond the control within each country's markets and the 4Ps comprising the marketing mix. In case there is a considerable extent of overlap, then scanty need is present to change it. Hence the company's marketing mix is needed to be interconnected with the sets of variables that are beyond the control in the external environment in order to achieve the optimum outcomes. The concept of international marketing can be comprehended in a better manner when the differences between similar concepts like domestic marketing, foreign marketing, comparative marketing, international trade and multinational marketing are looked into. (Srinivasan, 2005, p. 1)

Domestic marketing implies marketing practices inside marketer's native land. From the viewpoint of domestic marketing, procedures outside the home market are foreign marketing. To put it differently, foreign marketing includes the domestic operations within a foreign country. To take an example, an Indian company regards marketing in India as domestic marketing and marketing in the U.S. As foreign marketing. In case of a U.S. company, the reverse is true. International marketing is involved with the micro level of marketing applying the company as the unit of analysis. In international marketing, the company performs its marketing task across international markets. It encompasses the marketing mix in tune with the market and develops subsidiaries. (Srinivasan, 2005, p. 4)

2) the three decades of changes and the most important phenomena driving international and global marketing:

The last thirty years has witnessed a metamorphosis within the international marketing scenario. The advent of globalization marked the entry of companies across various geographical borders that raised the level of competition fiercely. Not to be left behind the amazing growth of local brands, a lot of whom ape their global competitors establishes that distribution, for instance, is target that can be achieved when it becomes a part of an integrated market-driven strategy. The keen competition among the multinational companies themselves also shows a "me-too" niche marketing strategies fueled by duplication instead of local market responsiveness, and it is a demonstration of defective execution of the original market entry approach of market penetration. (Arnold, 2003, p. 28)

This has given rise to the dictum that every multinational companies must follow: Think Global, Act Local. Over the years, marketing started off with its transactional approach i.e. The 'exchange of goods' for a 'price in return' to evolve into mass marketing approach which initiated with the groundbreaking concept of 'building profit through volumes'. The other business paradigm of maintaining high prices and margins was prevailing in the period prior to mass marketing and has increasingly become the characteristic of 'market segmentation' noticed in the majority of the developed markets in the present era. In these developed markets, marketing strategies were initiated with fragmenting demand into concise segments and developing products and brands narrowly targeted at those segments which are just the reverse of mass marketing. As against this, mass marketing was founded around good but rather simple products with limited ranges and low rates of obsolescence. (Arnold, 2003, p. 28)

Perhaps the most significant influence on international marketing arena has been the birth of the Internet that has played the role of a business enabler and the emergence of a separate form of business on its own right i.e. e-business as opposed to traditional business. The concept relating to "business without boundaries" has attained significance because of internet. And this has put 'customer service' at the forefront of the value chain. For marketers, the significance of having an Internet mindset has grown drastically and they realize that the world has changed drastically. Due to this, the customer is presently more in control of his purchases and has immediate access to product information and to other competitors also. (Customer Service, new marketing in the Internet age, 2008)

Internet technologies have ushered in a powerful force that propels the world in the direction of converging commonality. It has revolutionized communication, transport and travel having far reaching impact on marketing in general and international marketing in particular. This has spawned a new commercial reality which is the coming of age in the global markets for standardized consumer products on an unprecedented scale. Companies that have been arming themselves to this new reality are immensely benefiting from huge economies of scale on all fronts, be it production, distribution, marketing and management. By converting these advantages into reduced world prices, they are able… READ MORE

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