international marketing strategies

8/6/2019 International Marketing Strategies

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International MarketingInternational Marketing

International MarketingInternational Marketing

Vs.Vs.Domestic MarketingDomestic Marketing

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Introduction:Introduction:

International marketing is the process ofInternational marketing is the process ofidentifying the goods and services thatidentifying the goods and services thatcustomers outside the home country wantcustomers outside the home country want

and then providing them at the right priceand then providing them at the right priceand place.and place.

Some MNEs are able to use the sameSome MNEs are able to use the same

strategy abroad as they have at home thisstrategy abroad as they have at home thisis true where messages can carry ais true where messages can carry auniversal theme.universal theme.


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In most cases it is necessary to tailor makeIn most cases it is necessary to tailor make

the strategy so that it appeals directly tothe strategy so that it appeals directly tothe customer. These changes fall intothe customer. These changes fall into

five major areas.five major areas.

1.1. Market Assessment.Market Assessment.2.2. Product Decisions.Product Decisions.

3.3. Promotion Strategies.Promotion Strategies.

4.4. Pricing Decision.Pricing Decision.5.5. Place or Distribution Strategies.Place or Distribution Strategies.


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International Market AssessmentInternational Market Assessment

Initial Screening: Basic need and potential.Initial Screening: Basic need and potential.

It is the process of determining the basicIt is the process of determining the basic

need potential of MNEs goods andneed potential of MNEs goods andservices in foreign markets.services in foreign markets.

Who Might Be Interested in Buying ourWho Might Be Interested in Buying our

Output?Output?


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Initial screening is carried out byInitial screening is carried out by

Examining the current import policies.Examining the current import policies.

Determining local production.Determining local production. Examining the demographic changes.Examining the demographic changes.


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Second screening: Financial andSecond screening: Financial and

economic conditions.economic conditions. Financial considerations.Financial considerations.

Economic considerations.Economic considerations.

It relates to market demands influencesIt relates to market demands influencesincluding market indicators. Theseincluding market indicators. These

indicators focus on three important areas:indicators focus on three important areas:

--Market Size.Market Size.--Market Intensity.Market Intensity.

--Market Growth.Market Growth.


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Third Screening: Political and LegalThird Screening: Political and Legal

Forces.Forces.Fourth Screening: SocioFourth Screening: Socio--cultural forces.cultural forces.

Fifth Screening: Competitive environment.Fifth Screening: Competitive environment.

Final Selection.Final Selection.


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Product Strategies.Product Strategies.

Product Strategies will vary depending onProduct Strategies will vary depending onthe specific good and the customers.the specific good and the customers.Product may require:Product may require:

Little or no Modification.Little or no Modification.

Moderate to High Modification.Moderate to High Modification.

-- Economics.Economics.

-- Culture.Culture.-- Local Laws.Local Laws.

-- Product Life cycle.Product Life cycle.


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PromotionPromotion

It is the process of stimulating demand forIt is the process of stimulating demand for

a companys goods and services. MNEsa companys goods and services. MNEs

promote their goods and services throughpromote their goods and services throughadvertising and personal selling. Theadvertising and personal selling. The

specific approach that is used depend onspecific approach that is used depend on

the nature of the product.the nature of the product.


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Nature of the Product.Nature of the Product.

In promoting a product a company can useIn promoting a product a company can usevariety of approaches.variety of approaches.

-- Identical Product and identical message.Identical Product and identical message.

-- Identical Product but different message.Identical Product but different message.-- Modified Product but same message.Modified Product but same message.

--Modified product and modified message.Modified product and modified message.

Advertising.Advertising.Personal Selling.Personal Selling.


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Pricing StrategiesPricing Strategies..

Pricing of goods and services in thePricing of goods and services in the

international market place is ofteninternational market place is often

influenced by factors present in homeinfluenced by factors present in home

marketing pricing. These factors include:marketing pricing. These factors include:

-- Govt. control.Govt. control.

-- Market Diversity.Market Diversity.

-- Currency Fluctuations.Currency Fluctuations.

-- Price escalation forces.Price escalation forces.


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Place.Place.

Distribution is the course that goods takeDistribution is the course that goods take

between production and final consumer.between production and final consumer.

This course often differs on a country byThis course often differs on a country by

country basis.country basis.

-- Different Distribution systems.Different Distribution systems.

-- Choosing the best distribution system.Choosing the best distribution system.

international marketing strategies

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