International Marketing Questions
Intro to intern Marketing 1) Definition of international marketing
International marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives." In contrast to the definition of marketing only the word multinational has been added. In simple words international marketing is the application of marketing principles to across national boundaries. However, there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term. 2) Growth of business and international markets
1. INTERNAL GROWTH
This means that it grows without joining with another business. It could
•buildnew premises
•‘take on’ more employees
2. EXTERNAL GROWTH
In this case it has some involvement with another business
a) MERGER
Two firms join together and have equal ownership e.g. Lloyds and TSB merge to create Lloyds TSB bank.
b) TAKEOVER
One firm takes over another firm and has the ownership of that business. It is probably against the wishes of the other business. e.g. Lloyds could takeover TSB. It would probably still be called Lloyds but it would also own TSB.
BENEFITS OF GROWTH .Increased profits
. Increased marketshare . Gainnew ideas from the other business .Avoid having to compete with the other business
.Gain from economies of scale (page)
.The new business may not need all of the workers. They could remove some workers to become efficient and make more profit
3) International marketing Concepts
Domestic market expansion, A domestic market expansion is a financial market. Its trades are aimed toward a single market. A domestic market is also referred to as domestic trading. In domestic trading, a firm faces only one set of competitive, economic, and market issues and essentially must deal with only one set of customers, although
International marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives." In contrast to the definition of marketing only the word multinational has been added. In simple words international marketing is the application of marketing principles to across national boundaries. However, there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term. 2) Growth of business and international markets
1. INTERNAL GROWTH
This means that it grows without joining with another business. It could
•buildnew premises
•‘take on’ more employees
2. EXTERNAL GROWTH
In this case it has some involvement with another business
a) MERGER
Two firms join together and have equal ownership e.g. Lloyds and TSB merge to create Lloyds TSB bank.
b) TAKEOVER
One firm takes over another firm and has the ownership of that business. It is probably against the wishes of the other business. e.g. Lloyds could takeover TSB. It would probably still be called Lloyds but it would also own TSB.
BENEFITS OF GROWTH .Increased profits
. Increased marketshare . Gainnew ideas from the other business .Avoid having to compete with the other business
.Gain from economies of scale (page)
.The new business may not need all of the workers. They could remove some workers to become efficient and make more profit
3) International marketing Concepts
Domestic market expansion, A domestic market expansion is a financial market. Its trades are aimed toward a single market. A domestic market is also referred to as domestic trading. In domestic trading, a firm faces only one set of competitive, economic, and market issues and essentially must deal with only one set of customers, although