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   International marketing (IM) or global marketing refers
    to marketing carried out by companies overseas or across national
    borderlines. This strategy uses an extension of the techniques used in the
    home country of a firm.

   It refers to the firm-level marketing practices across the border including
    market identification and targeting, entry mode selection, marketing mix,
    and strategic decisions to compete in international markets.

   According to the American Marketing Association (AMA) "international
    marketing is the multinational process of planning and executing the
    conception, pricing, promotion and distribution of ideas, goods, and
    services to create exchanges that satisfy individual and organizational
    objectives.”

   In contrast to the definition of marketing only the word multinational has
    been added.
   In simple words International Marketing is the application of marketing
    principles to across national boundaries.

   However, there is a crossover between what is commonly expressed as
    international marketing and global marketing, which is a similar term.
    The intersection is the result of the process of internationalization.

   Many American and European authors see international marketing as a
    simple extension of exporting, whereby the marketing mix 4P's is
    simply adapted in some way to take into account differences in
    consumers and segments.

   It then follows that global marketing takes a more standardized
    approach to world markets and focuses upon sameness, in other words
    the similarities in consumers and segments.
   Organizational buying behavior
   International negotiations
   Consumer behavior
   Country of origin
 Initial
        mode of entry
 Specific modes of entry
  Exporting
  Joint Ventures
   Global Standardisation vs. Local Responsiveness

Marketing Mix:
 Product policy;
 Advertising;
 Pricing;
 Distribution.
Competitive Strategy:
    Conceptual development;
    Competitive advantage vs. competitive positioning;
    Sources of competitive advantage and performance implications.
Strategic Alliances:
    Learning and trust;
    Recipes for alliance success;
    Performance of different types of alliance.
Global Sourcing:
    Global sourcing in a service context;
    Benefits of global sourcing;
    Country of origin issues in global sourcing.
Multinational Performance:
    Determinants of performance;
    A different interpretation of performance.
   Measurement Issues;

   Reliability and Validity Issues.
There are two main approaches to global segmentation:
Macro Approach
 Countries can be seen as segments. For example, there will only
  be a large market for expensive pharmaceuticals in countries
  with certain income levels, and entry opportunities into infant
  clothing will be significantly greater in countries with large and
  growing birthrates.
 There are, however, significant differences within countries. For
  example, although it was thought that the Italian market would
  demand "no frills" inexpensive washing machines while German
  consumers would insist on high quality, very reliable ones, it was
  found that more units of the inexpensive kind were sold in
  Germany than in Italy—although many German consumers fit
  the predicted profile, there were large segment differences within
  that country.
Micro Approach:             This approach caters to segments within countries.
    This can be approached in two ways :
Intra-market Segmentation:                      This involves segmenting each
    country’s markets. Here the company entering a new market segments that
    market to attain greater understanding of it.

   For example, an American firm going into the Indian market would
    research to segment Indian consumers without incorporating knowledge of
    U.S. buyers.
   Here the idea is that every country's market is different from the others and
    that it hence demands to be approached differently.
   This approach is a long term strategy and involves a lot of research and
    investment.
Inter-market Segmentation:                       This involves the detection of segments that exist
    across borders. It may be noted that that not all segments that exist in one country will exist in
    another and that the sizes of the segments may differ significantly.
   For example, there is a huge small car segment in India, while it is considerably smaller in the
    U.S. Inter-market segmentation entails several benefits.

   The fact that products and promotional campaigns may be used across markets; introduces
    economies of scale, and learning that has been acquired in one market may be used in
    another.

   e.g., a firm that caters to a segment of premium quality cell phone buyers in one country can
    put its experience to use in another country that features that same segment. (Even though
    segments may be similar across the cultures, it should be noted that it is still necessary to
    learn about the local market.

    For example, for a product, although a segment common across two countries may seek the
    same benefits, the cultures of each country may cause people to respond differently to it.
   International marketing strategies are developed by various multinational companies on
    a global level in order to set a common brand platform for their products and brands. It
    is then passed on to each local or domestic market which makes adjustments for their
    country and manages its implementation. Such a structure ensures a global brand
    consistency, pricing and messaging. It also can have significant cost savings as major
    advertising and marketing campaigns can be developed centrally
   Globalization has created new marketing behaviors, opportunities and challenges
    thereby making international marketing somewhat different from domestic marketing.
    Due to deregulation and technological advances in transportation and communication,
    companies can market in, and consumers can buy from almost any country in the world.
    In this situation of heightened competition, it is important for companies to offer
    products that would be of interest in the global marketplace and also adjust their product
    and service features to each country’s different cultures and values. They must choose
    what to produce, and how to price and communicate their products considering the
    different legal and political differences, language, and currency fluctuations.[5] To sum
    up, when multinational companies segment their target markets and position their
    products, cross-cultural literacy is necessary, which is a concept of glocalisation,
    requiring a company to “think globally and act locally”. Without an understanding of
    cultural and structural differences between countries, even leading global corporations
    can fail in specific markets.
After the decision to invest has been made, the exact mode of
 operation has to be determined. The risks concerning
 operating in foreign markets is often dependent on the level
 of control a firm has, coupled with the level of capital
 expenditure outlayed. The principal modes of engagement
 are listed below:

   Exporting (which is further divided into direct and indirect
    exporting)
   Joint ventures
   Direct investment (split into assembly and manufacturing)
   Direct exporting involves a firm shipping goods directly to
    a foreign market. A firm employing indirect exporting
    would utilize a channel/intermediary, who in turn would
    disseminate the product in the foreign market.
   From a company's standpoint, exporting consists of the
    least risk. This is so since no capital expenditure, or outlay
    of company finances on new non-current assets, has
    necessarily taken place.
   Thus, the likelihood of sunk costs, or general barriers to
    exit, is slim. Conversely, a company may possess less
    control when exporting into a foreign market, due to not
    control the supply of the good within the foreign market.
   A joint venture is a combined effort between two or
    more business entities, with the aim of mutual benefit
    from a given economic activity.
   Some countries often mandate that all foreign
    investment within it should be via joint ventures (such
    as India and the People's Republic of China).
   By comparison with exporting, more control is exerted,
    however the level of risk is also increased.
   In this mode of engagement, a company would directly construct a fixed/non-
    current asset within a foreign country, with the aim of manufacturing a product
    within the overseas market.
   Assembly denotes the literal assembly of completed parts, to build a completed
    product. An example of this is the Dell Corporation. Dell possesses plants in
    countries external to the United States of America, however it
    assembles personal computers and does not manufacture them from scratch.
   In other words, it obtains parts from other firms, and assembles a personal
    computer's constituent parts (such as a motherboard, monitor, CPU, RAM,
    wireless card, modem, sound card, etc.) within its factories.
   Manufacturing concerns the actual forging of a product from scratch. Car
    manufacturers often construct all parts within their plants.
   Direct investment has the most control and the most risk attached. As with any
    capital expenditure, the return on investment (defined by the payback
    period, Net Present Value, Internal Rate of Return, etc.) has to be ascertained,
    in addition to appreciating any related sunk costs with the capital expenditure.
THANK YOU

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INTERNATIONAL MARKETING

  • 1.
  • 2. International marketing (IM) or global marketing refers to marketing carried out by companies overseas or across national borderlines. This strategy uses an extension of the techniques used in the home country of a firm.  It refers to the firm-level marketing practices across the border including market identification and targeting, entry mode selection, marketing mix, and strategic decisions to compete in international markets.  According to the American Marketing Association (AMA) "international marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.”  In contrast to the definition of marketing only the word multinational has been added.
  • 3. In simple words International Marketing is the application of marketing principles to across national boundaries.  However, there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term. The intersection is the result of the process of internationalization.  Many American and European authors see international marketing as a simple extension of exporting, whereby the marketing mix 4P's is simply adapted in some way to take into account differences in consumers and segments.  It then follows that global marketing takes a more standardized approach to world markets and focuses upon sameness, in other words the similarities in consumers and segments.
  • 4.
  • 5. Organizational buying behavior  International negotiations  Consumer behavior  Country of origin
  • 6.  Initial mode of entry  Specific modes of entry Exporting Joint Ventures
  • 7. Global Standardisation vs. Local Responsiveness Marketing Mix:  Product policy;  Advertising;  Pricing;  Distribution.
  • 8. Competitive Strategy:  Conceptual development;  Competitive advantage vs. competitive positioning;  Sources of competitive advantage and performance implications. Strategic Alliances:  Learning and trust;  Recipes for alliance success;  Performance of different types of alliance. Global Sourcing:  Global sourcing in a service context;  Benefits of global sourcing;  Country of origin issues in global sourcing. Multinational Performance:  Determinants of performance;  A different interpretation of performance.
  • 9. Measurement Issues;  Reliability and Validity Issues.
  • 10. There are two main approaches to global segmentation: Macro Approach  Countries can be seen as segments. For example, there will only be a large market for expensive pharmaceuticals in countries with certain income levels, and entry opportunities into infant clothing will be significantly greater in countries with large and growing birthrates.  There are, however, significant differences within countries. For example, although it was thought that the Italian market would demand "no frills" inexpensive washing machines while German consumers would insist on high quality, very reliable ones, it was found that more units of the inexpensive kind were sold in Germany than in Italy—although many German consumers fit the predicted profile, there were large segment differences within that country.
  • 11. Micro Approach: This approach caters to segments within countries. This can be approached in two ways : Intra-market Segmentation: This involves segmenting each country’s markets. Here the company entering a new market segments that market to attain greater understanding of it.  For example, an American firm going into the Indian market would research to segment Indian consumers without incorporating knowledge of U.S. buyers.  Here the idea is that every country's market is different from the others and that it hence demands to be approached differently.  This approach is a long term strategy and involves a lot of research and investment.
  • 12. Inter-market Segmentation: This involves the detection of segments that exist across borders. It may be noted that that not all segments that exist in one country will exist in another and that the sizes of the segments may differ significantly.  For example, there is a huge small car segment in India, while it is considerably smaller in the U.S. Inter-market segmentation entails several benefits.  The fact that products and promotional campaigns may be used across markets; introduces economies of scale, and learning that has been acquired in one market may be used in another.  e.g., a firm that caters to a segment of premium quality cell phone buyers in one country can put its experience to use in another country that features that same segment. (Even though segments may be similar across the cultures, it should be noted that it is still necessary to learn about the local market.  For example, for a product, although a segment common across two countries may seek the same benefits, the cultures of each country may cause people to respond differently to it.
  • 13. International marketing strategies are developed by various multinational companies on a global level in order to set a common brand platform for their products and brands. It is then passed on to each local or domestic market which makes adjustments for their country and manages its implementation. Such a structure ensures a global brand consistency, pricing and messaging. It also can have significant cost savings as major advertising and marketing campaigns can be developed centrally  Globalization has created new marketing behaviors, opportunities and challenges thereby making international marketing somewhat different from domestic marketing. Due to deregulation and technological advances in transportation and communication, companies can market in, and consumers can buy from almost any country in the world. In this situation of heightened competition, it is important for companies to offer products that would be of interest in the global marketplace and also adjust their product and service features to each country’s different cultures and values. They must choose what to produce, and how to price and communicate their products considering the different legal and political differences, language, and currency fluctuations.[5] To sum up, when multinational companies segment their target markets and position their products, cross-cultural literacy is necessary, which is a concept of glocalisation, requiring a company to “think globally and act locally”. Without an understanding of cultural and structural differences between countries, even leading global corporations can fail in specific markets.
  • 14. After the decision to invest has been made, the exact mode of operation has to be determined. The risks concerning operating in foreign markets is often dependent on the level of control a firm has, coupled with the level of capital expenditure outlayed. The principal modes of engagement are listed below:  Exporting (which is further divided into direct and indirect exporting)  Joint ventures  Direct investment (split into assembly and manufacturing)
  • 15. Direct exporting involves a firm shipping goods directly to a foreign market. A firm employing indirect exporting would utilize a channel/intermediary, who in turn would disseminate the product in the foreign market.  From a company's standpoint, exporting consists of the least risk. This is so since no capital expenditure, or outlay of company finances on new non-current assets, has necessarily taken place.  Thus, the likelihood of sunk costs, or general barriers to exit, is slim. Conversely, a company may possess less control when exporting into a foreign market, due to not control the supply of the good within the foreign market.
  • 16. A joint venture is a combined effort between two or more business entities, with the aim of mutual benefit from a given economic activity.  Some countries often mandate that all foreign investment within it should be via joint ventures (such as India and the People's Republic of China).  By comparison with exporting, more control is exerted, however the level of risk is also increased.
  • 17. In this mode of engagement, a company would directly construct a fixed/non- current asset within a foreign country, with the aim of manufacturing a product within the overseas market.  Assembly denotes the literal assembly of completed parts, to build a completed product. An example of this is the Dell Corporation. Dell possesses plants in countries external to the United States of America, however it assembles personal computers and does not manufacture them from scratch.  In other words, it obtains parts from other firms, and assembles a personal computer's constituent parts (such as a motherboard, monitor, CPU, RAM, wireless card, modem, sound card, etc.) within its factories.  Manufacturing concerns the actual forging of a product from scratch. Car manufacturers often construct all parts within their plants.  Direct investment has the most control and the most risk attached. As with any capital expenditure, the return on investment (defined by the payback period, Net Present Value, Internal Rate of Return, etc.) has to be ascertained, in addition to appreciating any related sunk costs with the capital expenditure.