International marketing involves identifying consumer needs abroad and satisfying them better than competitors while considering the firm's internationalization stage and global environment. The key elements of the international marketing mix are product, price, place, and promotion. Compared to domestic marketing, international marketing differs in factors like dealing with multiple currencies and cultural differences, obtaining foreign market research, and defining market segments across countries. International marketing coordinates marketing activities worldwide while multinational marketing means marketing across national borders. Reasons for marketing abroad include economies of scale, saturated domestic markets, high R&D costs, and new trade opportunities.

1. International marketing

2. The nature of international marketing
International marketing consists in
identifying and satisfying consumer needs
abroad,better than the national and
international competitors, under the
constraints of the internationalization stage
of the firm and the global environment.

3. Key elements of the international
marketing mix
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Product
Price
Place , and
Promotion.

4. Differences between domestic and
international marketing
Domestic
International
Research data is available in a
single language and is usually
easily accessed
Research data is generally in foreign
languages and may be extremely
difficult to obtain and interpret
Business is transacted in a single
currency
Many currencies are involved, with
wide exchange rate fluctuations
Head office employees will
normally possess detailed
knowledge of the home market
Head office employees might only
possess and outline knowledge of the
characteristic foreign markets
Promotional messages need to
consider just a single national
culture
Numerous cultural differences must
be taken into account
Market segmentation occurs within Market segments might be defined
a single country
across the same type of consumer in
many different countries.

5. International and Multinational
Marketing
• International marketing means marketing
across national countries.
• Multinational marketing means the integrated
coordination of the firm’s marketing activities
throughout the world.

6. Reasons for marketing abroad
Economies of scale and scope
Saturated markets in the home country
High R&D costs
International opportunities
Less competition
New trade agreements

7. International marketing strategy
Stage 1: Decision to internationalize

Stage 2: Analysis of international marketing environment

Stage 3: Entering international markets

Stage 4: International marketing programme

Stage 5: Implementing the international marketing
programme

8. International marketing planning
Planning means looking into the future
and deciding today what to do in the
future given predicted or intended
circumstances.

9. Control and coordination
Control:
Establishing standards and targets
Monitoring activities and comparing actual
with target performance
Implementing measures to remedy differences

10. Coordination
Coordination means the unification of effort,
i.e. ensuring that everyone within the
enterprise is working towards a common goal.
Effective coordination requires efficient
control.

11. Cultural systems of control
Clear corporate vision and mission
Free-following communication between the
workforce and management
Good internal Public Relation and internal
marketing
Good induction procedures for new staff to
adopt the corporate culture at an early stage

12. What is TRADE?
• The voluntary exchange of goods and services
among people and countries.
• Trade and voluntary exchange occur when
buyers & sellers freely and willingly engage in
market transactions.

13. Free Trade vs. Trade Barriers
• Nations can trade freely with each other or
there are trade barriers.
– Free Trade: Nothing hinders or gets in the way
from two nations trading with each other.
Trade barriers
• Sometimes countries complain about trade.
They say that too much trade causes workers
to lose jobs. Therefore, countries sometimes
try to limit trade by creating.

14. Economic Trade Barriers
• The most common types of trade barriers are
tariffs and quotas.
– A tariff is a tax on imports (imports are goods
purchased from other countries and exports are
goods sold to other countries).
– A quota is a specific limit placed on the number of
imports that may enter a country.
• Another type of trade barrier is an embargo.
– a complete trade block for a political purpose

15. Tariffs
• A tariff is a tax put on goods imported from
abroad.
• The effect of a tariff is to raise the price of the
imported product.
– It makes imported goods more expensive so
that people are more likely to purchase
domestic products.

16. Quotas
• A quota is a limit on the amount of goods that
can be imported.
• Putting a quota on a good creates a shortage,
which causes the price of the good to rise and
makes the imported goods less attractive for
buyers. This encourages people to buy
domestic products, rather than foreign goods.

17. Embargos
• Embargos are government orders which
completely prohibit trade with another country.

18. Thank you