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- Submitted by: Wilhemina
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- Date Submitted: 10/07/2012 04:26 PM
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CHAPTER FIFTEEN REVIEW MATERIALS
(“MARKETING INTERNATIONALLY”)
* “International Marketing” is an interesting activity, wherein managers develop marketing strategies by assessing the firm’s potential foreign markets and analyzing the many alternative marketing mixes. Managers must plan and control a variety of marketing strategies, rather than a single unified and standardized one. Then, they must coordinate and integrate those strategies into a single marketing program.
* Marketers EVERYWHERE (obviously) must 1. Know their markets, 2. Understand how to satisfy customer needs, and 3. Understand how to price goods and services so that they are acceptable to the market….and competitive in the market.
* NOTE: Sometimes there are very little differences between marketing domestically and marketing internationally. At other times these differences can be very large!
* Obviously, corporate management would prefer “GLOBAL” standardization of the marketing mix, but this is normally not possible!
* International markets that a company works in often differ widely because of great variations in the “uncontrollable “ environmental forces.
* The international marketer’s task is more complex than that of the domestic marketing manager because 1. Marketing strategies must be developed by assessing potential markets and analyzing alternated marketing mixes, 2. The international market is larger, and 3. The uncontrollable environment forces vary widely among international countries and markets.
* Important differences between the domestic and the international environments may simply make it impossible to transfer overseas all of the successful domestic marketing mix being used.
* However, the benefits from “standardization” of the marketing mix (between domestic and international), when possible, are lower costs, easier control by management, and reduction of time in preparing marketing plans.
* THE MARKETING MIX: A set of strategy...
(“MARKETING INTERNATIONALLY”)
* “International Marketing” is an interesting activity, wherein managers develop marketing strategies by assessing the firm’s potential foreign markets and analyzing the many alternative marketing mixes. Managers must plan and control a variety of marketing strategies, rather than a single unified and standardized one. Then, they must coordinate and integrate those strategies into a single marketing program.
* Marketers EVERYWHERE (obviously) must 1. Know their markets, 2. Understand how to satisfy customer needs, and 3. Understand how to price goods and services so that they are acceptable to the market….and competitive in the market.
* NOTE: Sometimes there are very little differences between marketing domestically and marketing internationally. At other times these differences can be very large!
* Obviously, corporate management would prefer “GLOBAL” standardization of the marketing mix, but this is normally not possible!
* International markets that a company works in often differ widely because of great variations in the “uncontrollable “ environmental forces.
* The international marketer’s task is more complex than that of the domestic marketing manager because 1. Marketing strategies must be developed by assessing potential markets and analyzing alternated marketing mixes, 2. The international market is larger, and 3. The uncontrollable environment forces vary widely among international countries and markets.
* Important differences between the domestic and the international environments may simply make it impossible to transfer overseas all of the successful domestic marketing mix being used.
* However, the benefits from “standardization” of the marketing mix (between domestic and international), when possible, are lower costs, easier control by management, and reduction of time in preparing marketing plans.
* THE MARKETING MIX: A set of strategy...