International Marketing

This research deals with the topic of international marketing. Americans have played an ever-increasing role in world trade and investment since the turn of the 20th Century. America has, however, encountered considerable competition from other nations in recent years and has had to reconsider many of the practices of the past. One phenomenon of recent years has been the growth of the multinational corporation, which produces and markets in many countries simultaneously. Many American firms--including McDonald's, Exxon, Pepsico and Cocoa-Cola--have participated in this trend and are now numbered among the world's leading multinational corporations. There are other problems related to international marketing: many business executives find themselves operating in unfamiliar business systems and catering to customers whose lifestyles and background are vastly different from their own. Operating in diverse environments places a premium on the development of the necessary marketing skills to analyze the needs of new foreign customers and preparation of marketing programs that will reach them effectively.

International marketing involves dealing with many nations that are different from the United States, nations that may be developing or that may be somewhat developed but that have different traditions as well as different lifestyles that affect what is marketed and to whom. Many of the differences are environmental, which means that marketers must deal with them but are

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m domestic marketing because of the differences in national environments within which global marketing is conducted. The differences in the organization and programs of a company operating simultaneously in different national markets are a result of these influences. Global marketing today can be divided into two basic activities--foreign marketing and international-multinational marketing. Foreign marketing is operating in an environment different from the home or base environment. The international-multinational marketing strategy crosses several national markets with products, prices and advertising strategies (Keegan, 1974). International marketing differs from domestic marketing in a variety of important respects, and especially in the fact that marketing activities, opportunities, practices and constraints differ among the countries. Countries, for instance, have disparate incomes, and they also have different monetary and legal systems and place varying restrictions on the level of their economic development and on the movement of people, goods and capital. There may also be different logistics involved in transportation, labor and other elements of marketing (Kahler and Kramer, 1977). Marketing as such has seven

Category: Economics - I