International marketing mix strategy should take into account legal and socio-cultural circumstances in every country to which it is directed. A promotional strategy used in one country could be offensive when used in another.
Decisions may also be made at a regional level and submitted to the headquarters for their approval. Choosing an Agency Choosing an ad agency may prove more effective due to their understanding of the country and market they are doing business in.
International marketing is simply the application of marketing principles to more than one country. They have information available in abundance, thanks to the Internet.
Many organisation adapt promotion strategies to suit local markets as cultural backgrounds and practices affect what appeals to consumers. Control of the length and characteristics of the channels. At its most complex level, it involves the firm in establishing manufacturing facilities overseas and coordinating marketing strategies across the globe.
For example, McDonalds is a global player anyways, their burgers are accustomed to local needs. Doole and Lowe differentiate between international marketing simple mix changes and global marketing more complex and extensive. The financial and organizational commitments. Is commercial television well established in your host country?
The result is a global approach to international marketing. One is to find a way to decrease the export price, and the second is to position the product as an exclusive or premium brand.
Tax regimes, local conditions, imperfections, joint venture partners and the morale of managers affect transfer pricing. What is Global Marketing?
It makes the companies stateless and without walls. Assessing Global Media Decisions Global media decisions are a big concern for global firms.
In India where a cow is a sacred animal their burgers contain chicken or fish instead of beef. Product standardization - company introduces unchanged product on the foreign market. Channel structures have become more advanced with overall development. The level of media development and availability will also need to be taken into account.
Distribution Patterns To understand a foreign distribution system, marketers should never believe that it is the same as the domestic one.
Promotional Strategy When global marketers choose a standardized approach, the same global campaign is applied throughout all countries.
This includes packaging, size, symbols depending on the culture prevailing in the country concernedcolour. To make up for shipping, insurance and tariffs, and foreign retail prices, the export price may be much higher than domestic country.
The intersection is the result of the process of internationalisation. Transfer pricing include stakeholders, such as the company, local managers, host governments, domestic governments, and joint-venture partners.
Promotion policy as a marketing mix instrument abroad Promotion policy involves transferring information to new potential buyers about the company, its products in order to make them to buy these products.
The parties usually relegate the foreign-market distribution to others; including manufacturer or global retailers, export management companies, or trading companies.
Cateora and Ghauri consider international marketing in the absence of global marketing. Advertising messages in countries may have to be adapted because of language, political climate, cultural attitudes and religious practices. The scale of media improvement and availability should also be analyzed and considered.
Pricing Pricing on an international level is a very difficult task. Many distribution patterns exist in retailing and wholesaling. A global marketer must find the best media channels in a market.
What is the level of television penetration? All communication vehicles may be integrated so that they convey the single idea to all concerned in a unified voice. Selection and use of the instruments needed to achieve these objectives depends on factors such as:This study examines the international marketing mix done by the McDonald's in two different important markets.
The objective is to analyze and understand the similarities and differences of the international marketing mix strategy implementation by the company.
Oct 18, · Welcome to the Vodcasts of the IUBH correspondence courses (polonyauniversitem.com). International Marketing explained by Dr.
Caterine Fox. Find more. International Marketing Mix The Internet Effect: The increasing growth of Internet shopping has led to a drop in barriers to growth internationally.
Most companies can now reach much larger target markets by using the Internet. International marketing mix strategy involves use of different marketing instruments to achieve positive financial results by company operating on international or global markets.
These instruments include: product, price, distribution and promotion. In this lesson, we will discuss how to adjust the marketing mix when pursuing an international market. Additionally, the Internet's impact on the marketing mix will be discussed. International Marketing Mix: Place The Place element of the marketing mix is about distributing a product or service to the customer, at the right place and at the right time.Download