Page 23 - International Marketing

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BRILLIANT'S Introduction to International Marketing 25

companies are motivated to internationalize because of the attractiveness
of the foreign market. Such attractiveness includes broadly, the relative
profitability and growth prospects.
The push factors refer to the compulsions of the domestic market,
like saturation of the market, which prompt companies to internationalize.
Most of the push factors are reactive reasons. The reasons for entering
international markets vary from firm to firm and country to country depending
upon the market characteristics. 
NEED OF INTERNATIONAL MARKETING
Q.2. What are the necessities of effective International Marketing?
OR
Explain the need of effective International Marketing.
Introduction
The successful global marketing plan is the essence of effective
international marketing which is based upon three foundations:
1. Knowledge of the market and the marketing environment-
Especially of customers, competitors and the government.
2. Knowledge of the product, its technology and its core benefits.
3. Knowledge of the marketing function and discipline- An international
marketer must decide how he will obtain these three types of
knowledge on the global basis. He must also decide how it will
assign responsibility for formulating a marketing plan.
Need of International Marketing
There are following six key concepts which contribute towards the
effective international marketing by providing better understanding of the
opportunity and challenge of global marketing.
1. Strategy: The strategic planning process requires an assessment
of the facts and assumptions concerning the firm’s external environment.
This assessment is organized around the macro dimensions of economic,
socio cultural, political and technological factors and micro factors of
markets, costs, competitions, customers and government. This
assessment should cover the entire world and not merely nation or region.
The global firm must recognize change whenever it occurs and be
prepared to respond to opportunity and to threat. It should also identify the
strengths and weaknesses of the organization which will be helpful in the
identification of the driving force of the business and determine the objectives
and goals of the organization.