International Marketing Approach

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Table of Contents

Introduction
International marketing
Global product
Area
Functional
Customers impact in International Marketing
Conclusion
References

Introduction

The expansion of a business operation is usually one of the main objectives of many companies. Expansion of businesses is usually accomplished through good management. The strategies formulated when attempting to expand a business unit should be achievable. In expanding across the borders of a country, proper marketing has to be undertaken. Proper analysis of market forces in the target market should be carried out.

Proper market analysis helps in formulating the best way to venture into the market as well as find out the customer preferences. Undertaking international marketing is not usually an easy exercise as there are various challenges that are encountered. This paper seeks to explore the concept of international marketing taking into account the various organization structures used by international businesses.

International marketing

International marketing for any commodity for any company which wishes to expand internationally is very vital. International marketing usually makes the customers well informed about the product. In the analysis of international market, there are various factors that have to be considered and they include global product, area, functionality and the customer (Keegan & Green, 2008).

Global product

The market preference for different commodities may be different in different regions. This thus requires that there be different product modifications so as to fit the intended market. In various countries, there may be specific rules governing the trading of some specific commodities. This thus means that in order for the commodities to be allowed to trade in the market, some modifications may be necessary.

There are also some goods which usually do not require modification before they are accepted in the global market. They mostly include mineral and other naturally occurring materials. If any modification is necessary, then it is usually very minimal. In most cases, preparing goods for international market does not usually entail the modification of the product but mainly the presentation and outlook of the product.

Area

The approach given to each market region is usually determined by the product being marketed and the market where the product is intended to be released. In this case the commodity may require some changes so as to meet the domestic requirement of the foreign country.

This usually gives rise to various approaches such as ethnocentric, geocentric and polycentric among others. In ensuring that the marketing is successful, then the market forces are usually considered. They may be in favor of the entry of the business or offer great resistance.

The marketing of a global product is not usually a smooth process as there are challenges usually associated with the same. For example, in penetrating a new market, there are some services that usually require extensive training on in order for them to be undertaken perfectly. This usually requires more resources which may not be available in some cases. In the selling of the product, the manufacturer must make proper consideration of the product marketing mix at the international market so as to gain market favor.

The Coca-Cola Company is one of the well established companies in the world of manufacturing and selling of soft drinks. The company products are usually used all over the world. Due to the varying tastes and preferences among the customers, maybe due to their geographic locations, the company sells different brands. Competition has been present but due to the different brands meeting the different customer needs, the company has been able to withstand the market forces and consequently has been winning the market favor.

Functional

In ensuring the overall success of an international business expansion, the operations of international marketing must be well formulated. A company should work towards the achievement of the goals and objectives of expansion within the stipulated time frame.

This usually helps in identifying the areas that need correction in the implementation. Due to the impact of globalization, international marketing has been on the improvement. The presence of a global media would be of great influence in ensuring that information is available to various people irrespective of their geographical locations.

The exchange rate of currency is of great importance in international trade. It is used to get the local market price for a commodity with respect to other regions in the world. This is usually very important in the undertaking of international marketing. In most cases, the determination of prices at the international market is usually undertaken by the international chamber of commerce. This is usually aimed at ensuring that interaction among the players at the international market is smooth.

In the undertaking of international marketing, sales promotions usually play very crucial part. This is mainly aimed at introducing a new product into the market or making the customers aware of the products in the market. The customers may have distorted information about a product consequently making it hard for such a product to perform well at the market.

The choice of approach in any sales strategy is usually concluded after critical analysis of the market has been carried out. The analysis usually takes into account the customer needs as well as other stakeholders’ need in the business field where the product is to be launched. The presence of previous researches may be very useful in the making of decisions on the best sales promotion strategy in international marketing.

At the entry of a company in international market, a company usually aims at increasing its sales as well as expanding its market cover. The entry in international market is mainly through imports or exports. This usually improves the sales or buying of goods which has the effect of promoting good international cooperation between the various countries involved. In ensuring that there are good and improved commercial interactions between the countries, the technology used and the human resource used play a great part.

Technology is very useful in international marketing as it ensures that information is availed to all the potential customers in the best way possible. This will have an impact on the sales which may not be instantaneous increase but the results may take time before they are realized. International marketing rewards are mostly undertaken as a long term investment strategy in business (Shaw & Onkvisit, 2008). The undertaking is usually very costly although the anticipated results are usually very good.

Customers impact in International Marketing

The undertaking of international marketing is also influenced by political, social and economic aspects. This is mainly because the customers’ social perspective is very important in making the decision on whether to buy commodities from a given company or not. There are some customs that restrict the taking of certain products by the customers.

This usually has very strong impact and usually acts as a hindrance into the venture of a given market despite the marketing undertaken. This is one of the factors that should be considered so as to get the best way of venturing into the market.

The strategies formulated should take into account the various possible customer reactions to the commodity at market. In maintaining the growth of a company, the price of the products usually determines the customers’ response to the products. In setting up of the prices, the company must take into account all the expense that is undertaken before adding a profit margin. The price offered should be favorable to the customers so as to win their favor (Ronkainen & Czinkota, 2007).

For example the success of Starbuck is in the way they handle their customers. In ensuring that it always has the approval of its customers, Starbucks ensures that the interaction between them and the customers and farmers is very good. The company handles different regions according to their specific needs. This ensures that the undertaking of international marketing yields positive results.

Conclusion

International marketing plays a very important role in promoting the sale of a product. In ensuring that it is successful, proper strategies are formulated taking into account the various forces affecting the sales. There are various policies and regulations that are formulated by international bodies to help the undertaking of international trade.

The global product, area, functionality and customer play very important roles in the formulation of international marketing. In expanding a business to cover international market a company will needs to carefully carry out market analysis in order to gain a good picture of the new market it will be venturing into. Sufficient knowledge on the new market will make it very easy for a company to quickly engage in best strategies to win the favor of the market with new products.

References

Keegan, W. J. and Green, M. C. (2008). Global marketing. Upper Saddle River, NJ: Prentice Hall.

Ronkainen, I. A. & Czinkota, M. R. (2007). International marketing. New York: Cengage Learning.

Shaw, J. J. & Onkvisit, S. (2008). International marketing: strategy and theory. London: Taylor & Francis.

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