WHAT IS INTERNATIONAL MARKETING?

 INTERNATIONAL MARKETING

ACC TO WARREN J. KEEGAN " INTERNATIONAL MARKETING IS THE PROCESS OF FOCUSING THE RESOURCES AND OBJECTIVES OF AN ORGANISATION ON GLOBAL MARKETING OPPORTUNITES AND NEEDS"

 INTERNATIONAL MARKETING WOULD INVOLVE:

• IDENTIFING NEEDD WANTS OF CUSTOMERS IN INTERNATIONAL MARKETS.
• TAKING MARKETING MIX DECISION RELATED TO PRODUCT,PRICING,DISTRIBUTION AND COMMUNICATION KEEEPING IN VIEW THE DIVERSE CONSUMER AND MARKET BEHAVIOURS ACROSS DIFFRENT COUNTRIES ON ONE HAND AND FIRMS' GOALS TOWARDS GLOBILASTION ON THE OTHER HAND.
• PENETRATING IN TO INTERNATIONAL MARKET USING VARRIOUS MODE OF ENTRY.

•  TAKING DECISIONS IN VIEW OF DYNAMIC INTERNATIONAL MARKETING        ENVIROMENTS  

 NATURE OF INTERNATIONAL MARKETING

1. LARGE SCALE OPERATIONS .
2. DOMINANCE OF MULTINATIONAL.
3. INTERNATIONAL RESTRICTIONS AND TRADING BLOCK.
4. SENSITIVES CHARACTER.
5. NEED OF MARKETING RESEARCH.
6. IMPORTANCE OR ADVANCE TECHNOLOGY.
7. KEEN AND ACUTE COMPETITION.
8. NEED FOR SPECIALISED INSITUTIONS.
9. NEED FOR LONG-TERM PLANINNING. 
10. DEVELOPS CULTURAL RELATIONS AND MAINTAINS WORLD PEACE.

SCOPE OF INTERNATIONAL MARKETING.

1. EXPORTING
2. IMPORTING
3. RE-EXPORTING
4. MANAGEMENT OF INTERNATIONAL OPERATIONS.

APPROCHES OF INTERNATIONAL MARKETING

1. ETHNOCENTRIC APPROCHES.
2. POLYCENTRIC APPROCHES.
3. REGIOCENTRIC APPROCHES.
4. GEOCENTRIC APPROCHES.

IMPORTANCE OF INTERNATIONAL MARKETING

1. DIVERSIFICATION OPPORTUNITIES.
2. EXPENSION OPPORTUNITIES.
3. INCREASED MARKET SHARE
4. CAREER OPPORTUNITIES.
5. GLOBAL RECOGNISTAION.
6. INVESTMENT OPPORTUNITIES.
7. INCREASING STANDARD OF LIVING .
8. MOBILITY OF FACTOR OF PRODUCTION.
9. COOPERATIVE AGREEMENTS.
10. MARKET SATURATION.
11. IMPROVING COMPETITIVE POSITIONS.
12. REACHING NEW CUSTOMER.

 KEY ISSUE WITH INTERNATIONAL MARKETING

• SELF-REFERENCE CRITERTION.
• MARKET DIFFRENCES
• POLITICAL & LEGAL DIFFRENCES.
• CULTURAL DIFF.
• ECONOMIC DIFF.
• LANGUAGE DIFF.
• INFRASTRUCTURE DIFF.
• HIGH COST OF DISTANCE DIFF.
• MANAGEMENT MYOPIA.
• NATIONAL CONTROL BARRIERS.

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