Introduction to International Marketing

Topics: Marketing, Advertising, Economics Pages: 7 (2285 words) Published: July 20, 2013
BB0024– Introduction to International Marketing - 4 Credits (Book ID: BO103)

Q.1 Name and explain with suitable examples, three reasons why international marketing is more challenging than domestic marketing. Ans. International marketing is more challenging than domestic marketing because the scope is much wider - in essence, when a company or individual markets on an international scale, they are marketing to the entire world, rather than a specific country. Since the scope is global, the cost of reaching out to consumers is much higher. However, the Internet Age has made it possible for international marketers to run advertising campaigns without the usual costs of global marketing. Examples of typical international marketing initiatives (on t he • Television Commercials (often, these are dubbed into different languages; sometimes, different commercials will be filmed to suit different cultures. • Website-based marketing

• Search Engine Optimization Marketing (attracting more web traffic by getting strong Google rankings, etc.) • Billboard campaigns (these billboards will use strong images and brand logos to get attention in different countries.

National marketing has many of the same elements; however, its scope is narrower, and its identities, it may be easier to market to nations than to market globally. Often, when a global campaign is planned, a company or individual will hire an ad agency to create and manage an ad campaign. In the case of Internet companies who market to clients all over the world, this sort of ad agency may not be mandatory.

In fact, in the digital age, it can be quite easy to amalgamate national and international marketing campaigns on the World Wide Web. For example, SEO (search engine optimization) techniques can be used to attract Web traffic from all over the world, and this sort of marketing can be more inexpensive than traditional international marketing tactics. In a sense, the Internet has bridged the gap between international and national marketing.

Q.2. What are the relative advantages and disadvantages of standardization and adaptation? Explain with suitable examples. Ans. Standardization is the process by which a company makes it methods, especially its production processes, uniform/identical throughout its organization. Whereas for adaptation, a company would change their methods such as the price, promotion, packaging and/or the product itself in order to fit the needs and preferences of the market or a particular country. Adaptation occurs when any element of the marketing strategy is modified to achieve a competitive advantage when entering a foreign market. The advantages of standardization is the consistency of the product throughout the world and the cost savings from having identical the product. Standardization helps cut costs when the company produce the same products and reuse the established marketing and distribution systems where the company gets economies of scare benefits in production and buying. It also helps improve communication and performance. The advantages of standardization is that it helps cuts costs by lowering installation costs, reducing need to maintain large inventories, and lowering maintenance costs thus also allows a company to take advantage of economies of scale when purchasing supplies. It helps improve the management and design with less customization needed, enabling interchangeability of components, and provides practical application of expert knowledge enhancing operability and improves performance. The disadvantage of standardization is the loss of uniqueness. If a company builds up a customer base that serves a specialized market, standardizing its processes may mean it loses some of its former customers. Another disadvantage is the loss of responsiveness where when a company expands into a new market there may be cultural differences which leads to different taste and likings of the market....
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