Page 20 - International Marketing

22 International Marketing BRILLIANT'S

But in view of the liberal economic policies, the Indian firms are now required
to compete with international firms in the domestic market also. Therefore
in order to remain domestically competitive, a firm needs to be internationally
competitive. As a strategic response to globalization of markets, Indian
firms need to follow a proactive approach and learn to transform the
emerging marketing threats and challenges to their benefit. It makes
international market relevant even for firms operating solely in domestic
markets. Thus, International Marketing would involve:
(a) Identifying needs and wants of customers in international markets.
(b) Taking marketing mix decision related to product, pricing, distri-
bution and communication keeping in view the diverse consumer
and market behaviour across different countries on one hand
and firms goals towards globalization on the other hand.
(c) Penetrating into international markets using various modes of
entry.
(d) Taking decision in view of dynamic international marketing envi-
ronment. NPP
International Marketing even though it has certain distinct characteristics,
is essentially similar to domestic marketing in terms of certain technical
attributes. Marketing can be conceived as an integral part of two processes,
viz., technical and social. So far as the technical process is concerned,
domestic and international marketing are identical. The technical process
includes non-human factors such as product, price, cost, brand etc. The
basic principles regarding these variables are of universal applicability. But
the social aspect of marketing is unique in any given stratum, because it
involves human elements, namely the behaviour pattern of consumers and
the given characteristics of a society, such as customers, attitudes, values
etc. It is obvious that marketing to the extent it is visualized as a social
process will be different from domestic marketing.
Definition
1. International Marketing is the multinational process of planning
and executing the conception, pricing, promotion and distribution
of ideas, goods and services to create exchange that satisfy indi-
vidual and organizational objectives. Only the word multinational
has been added to the definition adopted by AMA . The word im-
plies that marketing activities are undertaken in several countries
and such activities should somehow be coordinated across na-
tions. - AMA (American Marketing Association)