Considerations of International Marketing

Innovations in transportation and communications during the twentieth century have resulted in the ability of goods and services to move among nations with greater ease than at any other time in history. International business is no longer the exclusive realm of the large multinational corporation; small businesses are creating marketing niches for themselves in particular product or service areas. Because of this greater interest in the global economy, companies which are seeking to build long-term strategic plans must consider whether or not international marketing is a critical part of those long-term plans.

When considering international marketing, companies must take into account their own internal structure, the role of the governments of the countries considered, and the way in which the company would operate in the foreign nation (whether directly, as part of a joint venture, or through some licensing effort). Political situations must be considered, and the labor situation in the foreign country (as well as in the domestic country) must also be taken into account. The differences in the currencies between the various countries involved must also be considered, and barriers to trade (both tariff and nontariff) also need to be evaluated since the barriers which the company needs to overcome may determine whether a particular venture will be profitable or unprofitable.

Multinational corporations are those companies which offer pro

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tions need to consider all of their stakeholders: customers, employees, vendors and shareholders. Each of these constituents has a stake in the organization, and the corporation must be responsive to all of them, not merely to the shareholders. Because of the increased competition that globalization brings with it, failure to take all of these constituencies into account can result in an overall loss to the organization. The corporation must also recognize that they are less important than the individuals who compose them, and that the corporation needs to see itself as an integral part of the community, or communities, in which it operates (Freeman & Liedtka 96). The decision making and planning functions in an international company remains much as they are within a domestic company with the exception that national cultural differences are likely to be felt in the international venture. Longterm planning and identification of strategic opportunities assumes a greater importance in multinational organizations, as well (Massie 213). The organizing function can be an evolving issue in an international organization since a company may well begin international operations as a "department" within the larger domestic company. A

Category: Business - C