International Marketing Strategies for Global Expansion
International marketing involves executing marketing strategies across national borders to satisfy individual and organizational objectives. Ways to enter the international market include exports, global web strategy, licensing, joint ventures, and direct investment.
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Presentation Transcript
INTERNATIONAL MARKETING II M.com
MEANING OF INTERNATINAL MARKETING International marketing or global marketing refers to marketing executed by transatlantic companies or across national borders. This strategy uses an extension of the techniques used in the main country of the company. According to the American Marketing Association the "international marketing is a multinational process of planning and executing the conception, put price, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives." In contrast to the definition of marketing only the multinational Word added. In simple words the international marketing is the application of the principles of marketing across national borders. However there is a transition between which is usually expressed by the international marketing and global marketing which are equal words.
HOW TO ENTER THE INTERNATIONAL MARKET Exports: The easiest way to enter the market is through exports that can be indirect or direct. In Indirect Exports, the trading companies are involved that facilitates the buying and selling of goods and services abroad, on the behalf of the companies.Whereas in Direct exports, the company itself manages to sell the goods and services abroad, by opting one of the following ways: By setting Domestic based Export Department, working as an independent entity Through Overseas sales branch, that carries out the promotional activities and facilitates sales and distribution. The sales representatives traveling abroad The distributors or agents in abroad working exclusively on the behalf of the company
Global web Strategy: Nowadays, companies need not go to the international trade shows to show their products, they can very well create the awareness among the customers worldwide through an electronic media i.e. internet.Through the company website, customers can read the detailed information, generally written in different languages, about the product and can order online. Licensing and Franchising: One of the ways to globalize is through licensing, wherein the domestic company issues the license to the foreign company to use the manufacturing process trademark, patent, name of the domestic company while facilitating the sales. In licensing, the domestic company has a less control over the licensee
Joint Ventures: The companies can go international by joining hands with other country based companies with the intention to monetize their existing relationships with the local customers.In India, TATA AIG, HDFC standard life insurance, TATA Sky are the examples of joint ventures. Direct Investment: Ultimately, the firms can establish their own business facilities or own a part of the local company to facilitate the sale of goods and services
