International Marketing: The marketing of goods and services across national frontiers, with respect to the motives of Profit, Growth Opportunities, Domestic Marketing Constraints, Competition, Government Policies, Monopoly Power, Spin-off Benefits and Strategic Vision refers to the International Marketing. It involves the processes of Trade, Foreign Direct Investment, Capital Flows, Migration, and the advancement of technology in underdeveloped nations. Mainly the categories of marketing P’s including Product, Place, price, Promotion, Process, Partnerships, Paperwork, Prospectus etc are the initiatives to take International Marketing on another Level.
To achieve the business objectives at a Global arena, business techniques need to find ways of adapting to the culture and societies to operate the business there itself. This framework highlights the demand of goods by the emerging middle class nations with respect to the Product marketing. These development tools acts as a goodwill amongst the suppliers and consumer’s with the frame of legal, financial and cultural support.
As the globalization of economies, societies, and cultures continues, and nations become more integrated through networks of exchange, international business development and global strategic management continues to evolve. Global firms that employ business development professionals in multiple locations who share exactly the same body of knowledge, ethics, practices, and standards benefit from a shared body of knowledge and ethics. These companies are well positioned for growth, as are the societies in which they operate.
Author: Sudipta Kanwar Rathore