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international marketing

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international marketing

  1. 1. Thinking about Business in terms of Customer needs and Satisfaction.
  2. 2. • It refers to marketing carried out by companies overseas or across national borderlines. • The performance of the business activities that direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit.
  3. 3. Yes it is. You may have a very good product or service but unless people know about it, who cares? Marketing is about making more and more money.
  4. 4. General Marketing Strategies • This concept describes how marketing will achieve an objective Decision Area Strategies • Used to achieve general marketing strategies by considering the 4p’s and the 2c’s
  5. 5. o Used to grow overall sales • There are two approaches  Grow Sales with existing product  This is done by getting existing customers to buy more, getting potential customers to buy and selling current products in new markets  Grow Sales with New Product  Introduce updated versions of a existing product, introduce products that are extensions of a current product or just introduce products that were not previously marketed
  6. 6. • Used to increase market share of a company • Best way: Take sales away from competitors • This strategy focuses on getting a segment of the overall market • This focuses on getting the product introduced to the larger markets as a different and unique product.
  7. 7. • This strategy is getting rid of the product in the market • This can be done by removing the product from the company’s product mix or by selling it to another organization. • This is a strategy used to keep the current position of a marketer in the market. • Ex. Maintaining the same market share
  8. 8. Decision Area Strategies There areas that support decision area strategies are  Target Market Strategy  Product Strategy  Pricing Strategy  Distribution Strategy  Promotion Strategy
  9. 9. MARKETING PROCESS MARKETING PROCESS MARKETING PROCESS  Target Market Strategy Have segmenting techniques  Product Strategy Develop and introduce a new product  Pricing Strategy Lowering your prices compared to competitors  Distribution Strategy Gaining relationships with important distribution partners that serve the target market  Promotion Strategy Bring awareneess of the product to the target market
  10. 10. • Political Entities • Legal systems • Cultural differences • Different monetary systems • Marketing infrastructure • Trade Restrictions • Procedures and documentations • Highly unpredictable • Understanding buyers needs • Building Goodwill • Research Development
  11. 11. Connecting of products with particular events to get customer attention.
  12. 12. Low-cost, Unconventional Marketing
  13. 13. Marketing done to take away the market share of other companies producing similar goods.
  14. 14. Partnership with other companies to increase Brand Awareness.
  16. 16. Controlling product availability to increase sales.
  17. 17. Rolls Royce sells only 10 cars in a year, It does scarcity marketing and thereby increases demand of its product. This also gives the company to quote a high price. “Limited Stock” (or) “Limited Period Offers” are all examples of Scarcity Marketing EXAMPLES
  18. 18. Supporting a cause to build strong customer following.. TATA “Jaago Re” encouraged people to vote and select a good leader. It also encourages people to say NO to Corruption
  19. 19. Secret Marketing to attract customer’s attention.
  20. 20. Ethics is concerned with what is right and what is wrong in human behavior judged on the basis of socially determined standards of behaviors. Business ethics concerns itself with Relationship between objectives, practices and techniques and the good of society. Ethics is important for every business.
  21. 21. Top management commitment. Publication of a establishment of compliance mechanism. Involving employees at all levels. Measuring results. Kantian Theory Utilitrian Theory
  22. 22. http://www.knowthis.com/principles-of-marketing- tutorials/marketing-planning-and-strategy/decision-area- strategies/ 1. International Marketing by Cateora and Graham 2. International Marketing by Czinkota and Ronkainen