International Marketing
International marketing is simply the application
of marketing principles to more than one country.
However, there is a crossover between what is
normally expressed as international marketing and
global marketing, which is a similar term. For the
purposes of this lesson on international marketing
and those that follow it, international marketing
and global marketing are transposable.
International marketing involves recognising that
people all over the world have different
requirements. Companies like Gillette, Coca-Cola,
BIC, and Cadbury Schweppes have brands that are
recognised across the globe. While many of the
products that these businesses sell are targeted at
a global audience using a consistent marketing mix,
it is also necessary to understand regional
differences, hence the importance of international
marketing.
Organisations must recognise that
differences in values, customs, languages and
currencies will mean that some products will only
suit certain countries and that as well as there
being global markets e.g. for BIC and Gillette
razors, and for Coca-Cola drinks, there are
important regional differences - for example
advertising in China and India need to focus on
local languages. Just as the marketing environment
has to be assessed at home, the overseas potential
of markets has to be carefully scrutinised.
Finding
relevant information takes longer because of the
unfamiliarity of some locations. The potential
market size, degree and type of competition, price,
promotional differences, product differences as well
as barriers to trade have to be analysed next to the
cost-effectiveness of various types of transport.
The organisation then has to assess the scale of the
investment and consider both short- and long-term
targets for an adequate return.
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