Exploring Key Concepts and Strategies in International Marketing

This report delves into the multifaceted world of international marketing, elucidating key concepts and strategies essential for global business operations. The report begins by defining international marketing and its significance in today's interconnected world. It then explores various market entry strategies, including exporting, licensing, franchising, joint ventures, and direct investments, providing insights into their applications and advantages. The rationale behind embracing international marketing is also discussed, highlighting the expansion of customer base, brand reputation enhancement, and networking opportunities. Finally, the report concludes by emphasizing the role of international marketing in fostering productivity, revenue growth, and overall business sustainability in the global marketplace. The report draws upon relevant literature and academic sources to support its arguments and provide a comprehensive understanding of the subject.

Key Concepts in
International Marketing

Table of Contents
Introduction......................................................................................................................................1
Main Body.......................................................................................................................................1
Conclusion.......................................................................................................................................1
References........................................................................................................................................2

Introduction
The application of distinct marketing principles that involves satisfaction of various
needs as well as wants of distinct people who resides outside the national borders is referred to as
international marketing (Cateora and et. al, 2020). The essay will furnish overview of some
concepts of international marketing.
Main Body
International marketing implies applications of marketing principles that are being conducted
via industries within one or many countries. It is probable that firms can conduct their business
in almost all the nations. This enhances change within choices, demands, tastes and preferences
of customers that further leads to expand economies along with this renders a competitive
marketing. There are various reasons because of which businesses opts for delivering their
services in international market, they involves government policies & regulations, growth of
overseas markets, domestic market constraints, relative profitability, enhanced productivity,
counter competition, strategic vision and many more. There are different ways through which
organisations like Bentley Motors, Tesco or any other organisation render their services across
international borders. They are exports which comprises of entering within the market through
exports which can be either direct or indirect depending on the firm. In case of indirect exports,
buying and selling of services is carried out on behalf of firms. But in direct, organisation
manages all the aspects by themselves through setting up domestic export department, overseas
sales branch or any agents in abroad (Paul and Mas, 2020).
With rapid evolution of technology, firms conduct their international trade via electronic media
or global web strategy. Here, customers can have detailed information related with offerings of
firm and have ability to make order online. The other option for carrying out international
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marketing is licensing & franchising. In case of licensing firms issues license for foreign
companies for making use of their manufacturing process patent, trademark and their name for
facilitating sales. In franchising, domestic firms have high control as here franchise functions on
their behalf in accordance to terms & conditions of domestic firm. Joint venture is the other way
to enter within the international market where they join with other companies in other country
for monetization of existent relationship among their local customers. Direct investments
involves establishing business facilities in local company for facilitating sales of services and
goods. These are the ways through which an organisation can deliver their services across
international marketing depending upon the ways that goes well with them (Samiee, 2020). The
rationale behind going for this concept is that the target market of organisation will remain
restricted or concentrated in single market but by opting for international trade they have
opportunity to have enhanced customer base thereby market shares. This further leads to
enhancement of reputation of brand as people opt for having services globally. By usage of
international marketing, firms have an option for connecting with new business partners and
customers. Furthermore, opportunities for networking are limitless in international borders.
Conclusion
Based on the above discussion, it is inferred that international marketing is a broad
concept which aids firms within expanding their operations worldwide and reach potential
customers. This further enhances overall productivity, revenue and profitability of firm which
makes it easy for them sustain within the marketplace.
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References
Books & Journals
Cateora, P.R. and et. al, 2020. International marketing. McGraw-Hill Education.
Paul, J. and Mas, E., 2020. Toward a 7-P framework for international marketing. Journal of
Strategic Marketing, 28(8), pp.681-701.
Samiee, S., 2020. International marketing and the internet: a research overview and the path
forward. International Marketing Review.
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