International Marketing Is Really No Term Paper

Length: 12 pages Sources: 20 Subject: Business - Advertising Type: Term Paper Paper: #84141079 Related Topics: International, International Political Economy, International Trade, Shane
Excerpt from Term Paper :

Technology is helping in the globalization of world economy in more ways than one with the effect that consumers almost everywhere want global products regardless of whether they live in Los Angeles or remote Africa. The forces driving globalization are (i) flow of information (ii) flow of people (iii) Technology: helping economies of scale with cheaper transportation makes global sourcing possible (iv) Globalization is helping attain lower cost as huge investments are needed for new product development and strategic alliances need global markets to deliver enough demand. (International Marketing in the Internet Age, n. d.)

Companies exploiting the potential of the Internet in the process of internationalization are able to capture international transactions and operational efficiencies in communication. The Internet has given these companies the capability to have an international presence of its brand. Apart from that companies felt the need of a web presence as a central element in their operations and all companies were completely on the Internet medium for routine and strategic processes as downtime is never tolerable for businesses and customers in international markets. This implies, because of the enormous geographical separation between the company and the customer dependency is ubiquitous on the Internet to facilitate international trade, the Internet has come to occupy a central place in the process of internationalization of businesses. Besides, the Internet has lent small companies the capability to generate international market development which they would not have possibly done in the absence of it. These companies were keen on the development of virtual markets as opposed to generation of international markets. This is because the more profitable markets are international, for instance, the U.S. And UK. All the companies which used the power of the Internet for international market development discovered market reputation and confidence were central in cashing on the market development opportunities. (Matthews; Healy; Wickramasekera, 2005, p. 3)

This tend to bring into the limelight the significant importance gradual evolutionary segment of internationalization. The Internet has been playing and will continue to present a basically different environment for international marketing and new paradigms will have to be evolved in order to consider the internationalization processes in an electronic age. This will need the presentation of a significant new research endeavor to enhance our comprehension of Internet-enabled international marketing, particularly the degree to which the "Net" offers a low-level of "gateway" towards international markets in relation to Small and Medium Enterprises -- SMEs. (Hamill, 1997, p. 310)

Latest forms of developments with regard to the mass communication arena, global and regional media like the Cable & Satellite and DTH help build an environment in which some of the segments of the population across the world share a common arena of expectations, share a common field of symbols, display similar affinity with regard to services as well as products, and a general need to enhance their living standard. For example, quickly dispatched across global media in no time. The proliferation of organized retail has been a radical change in the last several years fueling changing customer expectations. With the expansion of retail chain, they include the 'best forms of practices' with regard to the new stores. They encompass modern practices relating to merchandising as also product mixes which react to local tastes and mirror the company's need for attaining economies of scale while purchasing from suppliers. (Douglas, 1999) major part of the impact on international marketing comes from four dominant trends. These are (i) growth of the World Trade Organization -- WTO and regional free trade zone like the NAFTA, EU etc. (ii) the emerging trend of developing nations like Asia, Latin America and Eastern Europe welcoming the free market system. (iii) the domineering impact of the Internet and other global media companies (iv) mandate for companies in order to properly manage resources. International marketing has assumed immense importance as (i) companies can no more ignore the effects of internationally marketing (ii) competition no more come just from the domestic companies (iii) to sustain profitability and growth margin of the past, companies have to look forward to other methods...

...

Here the main difference is the consideration between marketing in the domestic market and also in the international one. The concepts are the same with the ultimate goal is to make profit. The difference lies in that, in case of international marketing all environments are required to be considered at the time when the marketing plan is developed and executed. Besides, considerations have to make regarding the legal climate, governmental controls, climate & weather, cultural beliefs and behavior of buyers. (the Scope and Challenge of International Marketing, n. d.)

In international marketing from a marketing perspective, a lot of companies often sidestep the most governing principle of marketing which is that a company must begin by analyzing the market and thereafter only then take decision on its offer as regards marketing programs as also brands and for earning profits and not for operations is concurrently looking after patterns at the national level in the economy or that of the government, as also decisions relating to marketing like the availability of collection of products or the standard of pricing. However in case of marketing with the nation, on the other hand, it is these decisions that are taken care of by separate specialists. (Arnold, 2003, p. 17)

The various popular modes for international market entry adopted are 'piggybacking' under which they embark on their internationalization in an opportunist manner by means of a variety of arrangements as they entail taking advantage of a channel to an international market instead of selecting the country-market in a greater conventional manner. The most common type of piggybacking is the internationalization by serving a customer who is more international compared to the vendor company. Hence, a customer places an order, delivery, or service in more than a single country, and the supplier in turn starts selling internationally with a view to retain the customer and raises its penetration of the account. This is seen as a common occurrence in the case of business-to-business companies and technology oriented start-up companies. One more entry is the 'franchising' mode in international market. As the business format and often the operating models and guidelines are fixed, franchising is narrow in its potential to adapt which is an important consideration in applying this mode of entry at the time of entering new country markets. A good example is McDonald which operates in several countries. Nevertheless, the format and maybe the brand are internationally consistent, but some customer facing elements such as service personnel or individual menu choices can be customized according to local tastes. (Arnold, 2003, p. 21)

The various popular modes for international market entry adopted are 'piggybacking' under which they embark on their internationalization in an opportunist manner by means of a variety of arrangements as they entail cornering the benefits of a channel to a global market instead of type of piggybacking www.phptr.com/articles/article.asp?r=65.5638382043268&svr=3&lang=en_us&p=101588&seqNum=2&rl=1is (Arnold, 2003, p. 22)

However, franchising suffers from a disadvantage of taking over the franchised brand or asset as per the preference of the regional markets. Another method is the 'licensing' method of entry into international markets which is applicable in case of companies having

(Arnold, 2003, p. 22)

An important question raging in global marketing management is formation of a separate proficiency manufacturing the products to facilities in foreign shores. (Saykiewicz, 2006, p. 2)

In the process of outsourcing, the companies are delegating their valuable intellectual properties like design molds, specification, trade specialties to thousands of contractors across the world. Present international market challenges and configuration of resources and the management of business dealing throughout the borders of the nation. (Saykiewicz, 2006, p. 3)

The overall goal

(Saykiewicz, 2006, p. 3)

Of late, matters associated with international marketing strategy have raised increased concern. Till date, nevertheless, major portion of the discussion has concentrated on the particular decision instead of wider strategic matters. The innate complexity and dynamic characteristics of formulation of strategy in international markets have often been overlooked. Nevertheless, a company's strategic thrust and important decisions will undergo a change when it extends its operations in foreign shores. The procedure of internationalization therefore entails a company passing through consecutive stage, each featured by a novel strategic challenge and decision priorities. The past deliberations as regards international marketing strategy have, nevertheless, tended to concentrate on the primary stages of entry into international markets. Sometimes, the viewpoint of a newcomer in international market is adopted. (Aliber; Click, 1993, p. 221)

As a result, focus has concentrated on decisions as the choice of nations to enter, the mode of operation to adopt or the degree to which product or positioning can be benchmarked, or must be espoused for various country markets. Importance on initial international market entry and concerns of standardization were relevant during the 1960s and 1970s when a lot of companies, if the U.S. Or of other national origin, possessed only restricted experience…

Sources Used in Documents:

References

Aliber, Robert Z; Click, Reid W. (1993) Readings in International Business: A Decision.

MIT Press.

Arnold, David. 2003. The Mirage of Global Markets: How Globalizing Companies can Succeed and Markets Localize. Prentice Hall.

Aswathappa, a. (2006) International Business. Tata McGraw Hill.


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