Global Marketing – International Marketing
Steve Carter defines the term of marketing as “the process of building lasting relationships through planning, executing and controlling the conception, pricing, promotion and distribution of ideas, goods and services to create mutual exchange that satisfy individual and organisational needs and objectives.” To start with a generally known fact, each firm uses its own type of marketing strategy. Therefore, companies in different countries must think about their marketing strategies relative to different cultural values, for instance the mentality of a foreign country’s population as well as their demands and needs. We can divide marketing into three dimensions – domestic, international and global. Domestic marketing deals with the country’s local market. The last two types are considered foreign marketing. Some authors characterize international marketing and global marketing as being the same thing. There are marketing textbooks that differentiate international marketing from global marketing because international marketing in its literal sense signifies marketing between nations. On the other hand, some authors outline differences between them when the take a deeper look into the theory of marketing. In the following paragraphs, we will discuss international and global marketing. Although both dimensions share similar things in common, such as marketing research, there are notable differences. For instance, international marketing faces more risk variables such as exchange rates, different incomes of consumers or legislations. 2. What is meant by International Marketing
International marketing is simply the application of marketing principles to more than one country by focusing on markets outside of a country’s local market. Of course, there are some similarities between nations including traditions, religion or behaviour. However, there are several differences among countries. The marketing...
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