http://www.youtube.com/watch?v=zLYECIjmnQs
Winners or losers?
A series of activities that creates an exchange
and satisfies the individual customer across
national borders
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Identify customer needs
Planning to meet those customer needs
More complicated than domestic marketing:
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Cultural differences
Political/legal differences
Geographic differences
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Competitive differences
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Import/export
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Simplest and least risky strategy
Contracting
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Contractual agreement to work with a foreign business partner
Licensing agreements
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An agreement giving foreign companies the right to sell a
company’s product for a fee
Joint ventures
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Two or more businesses combine to create a new business
Direct investment
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Purchasing business assets to run a business in a foreign
country
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Advanced technology
Improved transportation
New market opportunities
Advanced technology
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Internet connects customers and businesses worldwide
Same movies, television shows, and Internet content
are seen everywhere
Companies can use the same media to send messages
around the globe
Improved transportation systems
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Faster and cheaper than in the past
Sealed containers available for ocean shipping
Satellite technology to avoid bad weather
Numerous world-wide shipping companies (for
example, UPS, FedEx)
New market opportunities
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Fall of iron curtain in 1989 opened eastern Europe
Opening of trade in China—largest market on earth
Economic development in South America, Africa,
Southeast Asia
Increased personal income world-side
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Increased risk increases the need for an
international marketing plan
Must create and deliver value to differing
customers
Manage customer relationships
Create a profit
Understand how marketing activities differ in
different cultural and political/legal environments
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Careers are diverse--some require a college
degree, some only high school
Ability to communicate in a foreign language is
helpful
Should develop a cultural understanding of the
country where you will work
Global businesses require more technology
skills
Experiences traveling, studying, or living abroad
are helpful
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Involved in every transfer of goods and services to
the consumer
Distribution
Pricing
Promotion
Financing
Marketing-information management
Product-service management
Selling
Distribution
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Determining the best ways to allow customers to locate
and obtain the products & services of a business
Involves shipping, handling, and storing of products
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Marketing-information management
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Obtaining, managing, and using marketing information to
improve business decision-making
Marketing research
Developing databases of product, customer, and
competitive information
Pricing
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Establishing a price for goods and services
Should set prices low enough to encourage customer
purchase, and high enough to make a profit
Manage international currency exchange rates
Product/service management
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Designing, developing, maintaining, improving, and
acquiring products to meet consumer needs and wants
Producers and manufacturers develop products
Promotion
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Communicating to potential customers about products
and services
Advertising
Publicity/public relations
Sales promotion
Personal selling
Selling
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Communicating directly with prospective customers to
assess and satisfy needs
Two-way interaction with customer
May be face-to-face, via telephone, or Internet tools
Financing
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Budgeting for marketing activities
Obtaining funds for business operations
Developing payment and credit systems to help
customers purchase goods and services