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International marketing management

Introduction

International marketing is a method applying marketing principles to more than one country.  These are commonly expressed as international marketing and global marketing and these terms are also interchangeable.

At its simplest level, international marketing involves the firm in making one or more marketing mix decisions across national boundaries.  At its most complex level, it involves the firm in establishing manufacturing facilities overseas and coordinating marketing strategies across the globe.  (Doole and Lowe ,2001)

International marketing requires a good amount of research about countries, corporate sector, import export regulations, tariffs and international business management and a complete analysis of consumer psychology about interests in products whether it is a cosmetic or a computer, before launching a product into international marketing, a complete study about a country is required to be made, in order to market the product and earn reputation for the brand.  For instance, Garnier, L’Oreal Paris and Ponds are all international branded cosmetics and almost in every country these company’s products are marketed viz., face wash, body wash, wrinkle lift, moisturizers, under eye cream and body lotions which are suitable to all skins of people in various countries.  These brands are successful that customers prefer buying these brands instead of

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domestic brands which reinstates a fact that customers look for a quality product which produces good results. There are many other products which have marked success in international market viz. Dell Computers, Compaq, Intel, Microsoft, Vodafone, Sony Ericsson and even Italian furniture,  French perfumes, chocolates of U.S., Kentucky Fried Chicken, McDonald’s, Dominos and there are many other international reputed companies which have reaped success through the international marketing of products. The main focus in international marketing is to identify opportunity of market or create a need for a particular product market.  For instance, purified water for drinking is a great problem in Asian countries and this opportunity can be identified by Europe and American companies which manufacture drinking water filters and initiate a proposal to Asian countries to market water filters and similarly, railway system equipment, aviation equipment, equipment of road transports can also be marketed to the countries where the public transport systems are poor in infrastructure.   For international marketing, geographic marketing strategies are required viz., ethnocentric approach, polycentric approach, regiocentric approach and geocentric approach and these strategies are not easy to deal with whereas it is required to convince people, governments and abide by the international business EXIM policies especially in automobiles BMW cars, Benz cars, Ford cars and Toyota cars which are in great demand in international markets and in fact the success of companies is in international marketing management.  With the rapid change in globalization, the companies began to change marketing strategies in order to keep the interest of consumer. In international marketing there are many barriers and problems in marketing of products until these products reach the end customer viz., multi-languages, foreign laws and regulations, cultural differences, distribution of credit control, sophisticated marketing planning and control systems and above all involvement of many currency which reflects in rise and fall of profits with the fluctuations in exchange rates. The important four Ps, in international marketing viz product, place, price and promotion which in turn are dependent on international advertising, campaign, market research and efficient staff in sales and marketing department.

Another good example of international marketing is coca-cola company which has offices in 200 countries and hitherto it is no less than  a monopoly   in soft drink industry. There is a no consumer who has not tasted coca-cola drink or has disliked, the emphasis and main focus here is the importance and significance that is attached with an international product and how it retains consumer market in international market. After the period of globalization, there is an emergence of many needs in the life style of consumer viz., mobile phones, digital cameras, computers, media players and great models of cars. Electronics have become daily necessity for people for the purpose of communication, business and for entertainment while on the move.   Mobiles market has increased by 200 percent or more in Asian countries and still there is a growing demand wherein each mobile company is upgrading its models viz., Motorola, Nokia, Apple ipod, HTC apart from domestic mobile companies which are catching up with local consumers who are in need of mobile phones.    This reiterates a fact that technology is changing every day with the changing needs.  Purchases on Internet have been growing in the recent years, as the access to Internet is easily available at homes and for the convenience of consumers, companies have launched web sites on Internet enabling purchases through online viz., eBay is a successful international marketing company which sells first line goods, second line goods and calls customers to auction and to quote bid for buying these auctioned goods. This further provides a fact that the mindset of modern customer has changed that customer never compromises with the quality and is even ready to pay a higher price.  There are many effective strategies for international marketing and there are also problems attached to it.  One of the major problems is the effect of revenues with the exchange rates in foreign currency which fluctuates viz., Euro v USD, Yen v USD, Euro v Yen or any other international currency.  The other major problem is EXIM policies which discourages the import of goods from other countries, especially in Asian Governments, domestic companies put forth that there should be adequate consumer market  for domestic companies and not for overseas companies and a common consumer always compares an international brand with domestic brand and chooses the best product as stated above in cosmetic products.   A market analysis gives a fact that all consumers are above middle class or luxury class and all kind of customers cannot afford to buy branded international products.  Lower middle class and middle class purchase only domestic brands and only on occasions purchase international brands and luxury class which is quite proportionate aims at purchase of only international brands. This again gives out a fact that rich countries have rich and luxury class whereas developing countries have large portion of middle class and for the purpose of international marketing, companies have to take the analysis of consumer market and the affordability of purchase by consumers before launching international brand products to prevent any poor marketing of products.  Changing of price strategy, marketing strategy, keeping a good track of business communication are all part of knowledge management in international marketing management and taking these steps international marketing management has to be managed efficiently.

Conclusion

HSBC Bank,  ABN Amro Bank, Barclays Bank and American Express are the best companies in international marketing management which have solidified the entire process of marketing in various countries and have established a reputed name around the world.

References

Erdener Kaynak Pervez N. Ghauri, Pervez N. Ghauri

Euromarketing: Effective Strategies for International Trade and Export
http://books.google.co.in/books?id=cx5XGZtetqYC&pg=PA98&lpg=PA98&dq=geocentric+strategy+in+international+marketing+&source=web&ots=U_y-YDtgnk&sig=vO2cI9VI2uyFT_ASOLooyULSjzw&hl=en&sa=X&oi=book_result&resnum=1&ct=result

Michael Z Brooke, International Management: A review of strategies and operations

Reviewed June 19, 2008

http://books.google.co.in/books?id=6R-HpbtK200C&pg=PA121&lpg=PA121&dq=problems+in+international+marketing+management&source=web&ots=Gn4Edj9eZh&sig=Ubav0CeDUC7ovgZ62FMW0MTQ-98&hl=en&sa=X&oi=book_result&resnum=7&ct=result#PPA122,M1

Roger Bennett, Jim Blythe
International Marketing: Strategy Planning, Market Entry & Implementation
http://books.google.co.in/books?hl=en&id=q58kPJgifT8C&dq=international+marketing+&printsec=frontcover&source=web&ots=_T_Nkbqd0Q&sig=OulldZvTTM2WprSeaQ2TO5A9shY&sa=X&oi=book_result&resnum=7&ct=result

What  is International Marketing

http://www.marketingteacher.com/Lessons/lesson_international_marketing.htm

 

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