International Marketing Strategy: Factors and Considerations

This report provides a comprehensive overview of international marketing strategy, encompassing key factors essential for successful global expansion. It explores fundamental concepts, including market research, which is crucial for understanding foreign markets. The report delves into legal and regulatory considerations, pricing strategies, demographic analysis, and the impact of social and cultural differences. It further examines the influence of political stability, economic conditions, and technological advancements on international marketing endeavors. The nature of the product, exchange rate fluctuations, government regulations, and consumer preferences are also addressed. Additionally, the report highlights the importance of relevant class structures, per capita income, supply and demand dynamics, tariffs, currency risks, investment and operational restrictions, and discriminatory practices. The analysis includes the role of environmental factors and regional partnerships in international marketing. Finally, it identifies major participants in international marketing, such as multinational corporations, exporters, importers, and service companies, offering a holistic view of the complexities and opportunities within the global marketplace.

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INTERNATIONAL MARKETING STRATEGY POSTER REFLECTIVE STATEMENT.
Introduction.
Many people think of marketing only as selling and advertising. However, selling and
advertising are only the iceberg tips of what most people define as marketing. Marketing is a
social and managerial process by which individuals and groups obtain what they need and
want through creating and exchanging products and value with others. Needs, wants, and
demands are the most basic concept underlying marketing. Marketing means managing
markets to bring about exchanges for satisfying human needs and wants. International
marketing is the ability to market efficiently to both domestic and foreign markets.
International marketing strategies are methods and tactics used to market services and
products in multiple countries. It could be in the form of online sales, import, and export,
licensing, and franchising. In current global business, marketplaces and international
marketing have never been more accessible. With so many online tools and options, brands
can expand their operations into new nations and reach untapped markets.
Every country stands in for an exclusive challenge of marketers because of laws, language,
culture, and other factors. These encounters can also be present on regional and local levels,
which need more aimed methods. The choices to do business internationally and commence

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an international marketing campaign could be untapped or undeserved markets, expanding
brand awareness, new commerce laws, global partnership, and economic growth in a country.
Commencing a global operation can be simple or highly complicated. For example,
consider a US business expanding into Canada versus Romania. There are much broader
cultural and linguistic differences, distance considerations, time, and wider differences in
economic structures and regulations. Fundamentals of international marketing are a better
way to figure out and understand your global target market. Fundamentals to include and
consider are enlisted below.
Market research is essential to any marketing company, exclusively when expanding
internationally. Numerous factors should be taken into consideration when evaluating a
foreign market.
Legalities and regulations.
In illegal substances such as alcohol and the use of other drugs in different countries, laws
applied in this field tend to differ. Laws from country to country vary. For instance, specific
food preservatives are illegal in Europe and legal in the US.
Pricing.
The expense of doing business in the country is very high. Capital of starting a business,
translation of services, licenses, and shipping of sale products are high. Taxes and fees on
trade in some countries might be pitfalls, and some nations prohibit them. It is not simple to
determine the pricing strategy for an international market. What tends to differ with the
pricing strategy are company objectives, fixed costs, positioning strategies, competition,
variable costs, and willingness.

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Demographics.
This is where you rank or rate the age population in a country. In Japan, 26% of people are
over the age of 65. An important consideration to note is that of buying power. It is known
that a country's economy is mainly contributed and grows on the young adults since they are
active and energetic. Youth in a country is more than 50% of the population hence
contributing to a country's economy. In the UK, Brimi was not available in the market.
Therefore, basing the location on where to create demand is an essential strategy. This is
because the introduction of Brimi in the UK enables the need to grow. This is the
introduction of a new product in the market industry where it was not known to exist before.
Social and Cultural differences.
The brand representation must align with religious beliefs, traditions, and customs and
how they clash or fit. UK and Italy are both European countries though there is a slight
difference in other social elements and culture. For instance, there is a difference in the
language spoken in both countries. English is said in the UK, while the Italian language is
spoken in Italy. The contrast of languages spoken in both countries is that it results in the
launching of Brimi’s products in the UK since it implies that the company has to repack its
products in English to appeal to consumers in the UK.
Politics.
Political stability plays a huge role on investment. One weighs options on where you are
sitting the investment so that in cases where it is after an election or during the war, the area
is not significantly affected to a point where you will have to incur significant losses. In this,
a considerable role is played on whether it is worth your investment if stability is an issue.
The UK political environment allows a free trade economy (Tribe 2005). In this specific type

of market, minimal trade barriers in the state are willing to work with one another. A liberal
trade policy allows business transaction with the very least interference.
Economics.
It is an essential factor when deciding on international marketing projects. A country's
economy varies throughout the year, and one has to know when the economy is high, low,
and stable to consider on investment. For example, the World Bank considers the UK as a
high-income country (Tribe 2005). This is because it has a considerable consumer power
(Great Britain: Department for Environment, Food and Rural Affairs 2011, p.5),
infrastructure, and established service sector, and a broad industrial base.
Technology.
The UK is recognized to have a strong use of its technology in most operations (Havard
2002, p.4). Regarding distribution and contribution of Brimi’s products in the UK market,
technology will have substantial effects on that strategy as Brimi participates in the sale of
perishable goods and production. High-tech technology can be easily used in the distribution
and sale of the company’s products in the UK (Kensett 1990) because of the advancement of
technology and infrastructure.
Nature of Product or Industry.
It is the most certain and obvious factor that has an influence on both global and domestic
pricing decisions. In pricing decisions, the nature of the industry should be taken into
consideration. For instance, the Organisation of Petroleum Exporting Countries greatly
determines pricing in the worldwide oil industry.
Exchange Rate Fluctuations.

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Economic facts such as interest rate, inflation, and price control affect pricing decisions.
Exchange rate fluctuation has an overwhelming result on finances, specifically in developing
countries where the is high volatility in enormous dependence and exchange rate on imports
for instance, in Nigeria, increased high volatility in exchange rate cost most foreign investors
in the first half of 2015 sold of the investments to avoid farther losses of the assets. In some
counties, the cost of borrowing is high. For example, Nigeria, the cost of borrowing from a
commercial bank is as high as 30%. This has led to stunted growth in Nigeria in the real
sector.
Government Regulation in the Foreign Market.
According to Tanner and Raymond (2012), regulations and laws are made to protect,
promote competition, promote customers, and encourage ethical and fair business contact.
For example, in some countries, Governments establish price regulations on the product price
that the Government has an interest in.
Taste.
Some countries eating habits can make it difficult for some companies to fit in the
international markets. Most international food chains such as Kentucky and Fried chicken
had to offer rice dishes so as to break in the Asian market.
Relevant Class Structure.
Most countries have the three selection of classes that is the upper, lower and the middle
class. The numbers of these people may be significantly different and vary from country to
country. For instance, in the Philippines, the country consists of a very small percentage of
the middle class, many poor people small percentage of upper-class individuals.
Per capita income.
A country's wealth is used to determine potential target market and how to sell your
product in those countries. For instance, Eritreans have $800 a year as per capita income; thus
it is not a great idea to sell a good market $1000 washers and dryers side by side.
Supply and Demand.

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In marketing the law of supply and demand plays a major role in marketing of products.
Currently a company has to do research and take a deeper look at potential markets because
in order to sell anything a product you have to market it in the right place and in the right
way. The world's most expensive cup of coffee, which is the Bali's Civet Cat Coffee (Kopi-
Luwak made from the animals poop) took their product internationally, and it soon became
popular.
Tariffs.
To balance trade between countries and to protect national companies from losing
business to foreign competitors the use of tariff is involved. For instance China’s tariff is
105.4% on shipped chicken from the USA.
Currency risks.
When doing business a business person engages himself as a risk-taker. For one to market
a product or a service you have to take a risk on whether it is going to be bought, competition
and also the demand rate in the market.
Investment restrictions.
Most countries have strict rules and requirements on basically who you can handle
business with their rules and terms of business also those to relate within business-related
investments in their country. For example, Malaysia, and agricultural business man wants to
buy land and produce fruits and vegetables to sell there. Any land purchase over $163,000 is
subject to approval by Government and will most certainly come with restrictions.
Operational restrictions.
A country has its laws in which everyone has to adhere and abide by. Doing business in a
foreign country has restrictions and is very limited in that one has to have requirements and
documents for conducting a business. This will alter operational control of your business into
any marketing choice that your company makes.

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Discriminatory restrictions.
This type of practice may prohibit or inhibit marketing your goods and services to that
country too. Most Middle East countries have a tendency of not allowing women to wear
makeup, so if you are thinking of capitalizing or investing in such a business, then one should
consider that as a big marketing factor.
Environmental.
If one wants to market or manufacture a product that does not hold up well when exposed
to certain weather conditions then you might want to carefully consider before marketing.
Areas that are regularly affected by natural disasters such as earthquakes and typhoons are to
be noted.
Regional partnerships.
Most companies choose to pair up with companies that are mostly based out of the country
whose market they are trying to get into. For instance, McDonalds left for the Indian market,
they did it with associates that knew the local business customs and practices.
Major participants in international marketing include; big companies, multinational
corporations, exporters, importers and service companies. Multinational corporations
corporate and control production of goods and services in other countries as compared to
their homes. The goods and services in which they offer are investing in foreign countries,
buy and sell licenses in foreign markets, import and export goods and services and engage
contract manufacturing. Exporters and importers mainly import or export goods and services
from their home country or from other countries. In other countries service companies
provide their services based on their own knowledge.
In conclusion, the above enlisted factors are what one should consider in international
market strategy. When an investor or a businessman decides to indulge themselves in the
market industry whether domestic or globally they are left with limited choices since one is
risking on the chances whether the commodity they are marketing will be able to sell itself
and incur profits or will not fit in the market and hence only bring loses to the investor. Aside
from basic factors that most common people look into some interior factors play a major role
illustrating the marketing industry. With the developing of countries and advancement in

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technology makes the world grow smaller each and every day. With the rapid growth that
is happening in the outside world most companies will take advantage of the situation and
invest when growth in the world and industry is happening. In marketing when an
opportunity presents itself then you have to seize it immediately.

References.
Doole, Isobel, and Robin Lowe. International marketing strategy. Cengage Learning,
2012.
Jain, S. C. (1989). Standardization of international marketing strategy: some research
hypotheses. Journal of marketing, 53(1), 70-79.
Onkvisit, S., & Shaw, J. (2009). International marketing: strategy and theory. Routledge.
Mansour, M. M. O. (2021). The moderating role of innovation
intensity between international marketing strategy and international
marketing performance: branding and commitment in international
marketing. International Journal of Business Innovation and
Research, 25(4), 431-452.