Page 52 - International Marketing

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54 International Marketing BRILLIANT'S

Arab. Discuss the environmental implications you would an-
ticipate for:
(a) Consumer fashion product (cosmetic goods)
(b) Consumers durable product (Electronic goods)
[MBA (FT) 2004]
Meaning and Definition
International marketing is the study of multidimensionality and com-
plexity on an international scale of the foreign markets which a company
may operate in. An international marketing manager needs the knowledge
and awareness of these complexities and the implications, they have for
international marketing management.
The term international marketing environment has not been defined
anywhere. However for the purpose of definition, we may define it as “inter-
national marketing environment" deals with the study of various factors -
social, legal, political, economic and technological which affects the inter-
national trade or influences the international marketing.
In other words, we can say that international environment is the study
of overall environment in foreign markets and various aspects and trends
in the international marketing through - the social, cultural, legal, eco-
nomic, political and technological dimensions that can affect the
organisation’s operations or its decision making.
The international marketing environment has been explained with the
help of SLEPT (Social, Legal, Economic, Political and Technological) ap-
proach and we can examine various aspects and trends in international
marketing.
The existence of more than one market necessarily complicates
the marketing process in international marketing. International market-
ing will have to consider the various barriers of free trade which is
imposed by the government - enacted legislation of the foreign coun-
tries. Similarly, the human needs and wants, the social and individual
value systems also differ in the foreign market. The other factors such
as culture, language, marketing infrastructure, currency restrictions, fi-
nancial system, technological advancement, transportation, political risks,
etc. are also of vital importance in the study of international marketing
environment. The five dimensions- social, cultural, legal, economic, political
and technological of international marketing environment are depicted in
the figure given below.