Pointers,

• The definition of International Marketing is different from the general definition of Marketing only in that goods and services are marketed across political boundaries. (Albaum)

  International Marketing is the performance of business activities that direct the flow of a company's goods and services to consumers or users in more than one nation for profit.

  
  

  (Cateora)
• International Marketing

  • Global Web
  • Licensing & Franchising
  • Exports
  • Direct Investment
  • Joint Ventures
• Global Marketing


  -is the focus on marketing an organisation's products or services in the international marketplace – and in an increasingly global society, with people more connected than ever before, it's an increasingly important area of marketing management. -The whole process of planning, producing, placing, and promoting a company's products globally
• Domestic marketing encompasses a firm's efforts in its home country.

  International marketing involves marketing goods and services outside the home country.

  Global marketing is an advanced form of international marketing in which a firm addresses global customers, markets, and competition.
• Global Marketing 


  • Refers to marketing activities coordinated and integrated across multiple country markets
• International Marketing 


  • An older term encompassing all marketing efforts in foreign countries, whether coordinated or not, involving recognition of environmental differences and foreign trade analysis
• GLOBAL MARKETING STRATEGY (GMS)

  
• Market entry strategy


  is the planned method of delivering goods or services to a target market and distributing them there
• Multinational Corporation


  A company that has business operations in at least one country other than its home country.
• Advantages of standardisation

  Cost reduction -e.g. economies of scale Improved quality -resources can be focussed Enhanced customer preference - positive experiences lead to global brand loyalty Global customers - uniform quality and services Global segments -e.g. software, cameras.
• Standardized price


  The degree to which the firm uses the same price across country markets.
• Concentration of marketing activities 


  The extent to which a firm's marketing activities, including development of promotional campaign, pricing decision, distribution activities and after-sale services, are deliberately performed in a single or a few country market.
• Standardized channel structure:


  The extent to which a firm's marketing activities in different country locations, including development of promotional campaign, pricing decision, distribution activities and after-sale services, are planned Executed interdependently on a global scale.
• A global website


  is an online platform designed to cater to a worldwide audience.
• What is the most popular website globally?

  Top Three Websites (Monthly visits):

  Google: 92.5 billion. YouTube: 34.6 billion.

  Facebook: 25.5 billion.
• Licensing 


  An agreement that gives a company the right to use another's brand name, patent, or other intellectual property for a royalty or fee.
• Licensor


  the company or individual granting the license for a fee in this legally binding contract
• Licensee


  The company or individual paying for the rights to use the licensor's name or property.
• Franchising


  is an arrangement where franchisor (one party) grants or licenses some rights and authorities to franchisee (another party).

  -is basically a right which manufacturers or businesses give to others.
• Franchising

  • Sell the use of your business model to a third party
  • Greater regulatory compliance and oversight.
  • Stronger relationship between the parties.
• Licensing

  • A license to use the business' intellectual property.
  • Enter into an IP licensing agreement.
  • You won't control all aspects of the licensee's business.
• Joint Venture


  A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task.
• Foreign Direct Investment 


  means investment in a foreign country where the investor retains control over the investment in terms of actual power of management and effective decision-making.
• Foreign Investment 


  company or individual from one nation invests in assets or ownership stakes of a company based in another nation.
• Export

  Goods and services that are produced in one country and sold to buyers in another.
• Import

  The term import is derived from the conceptual meaning as to bring in the goods and services into the port of a country. The buyer of such goods and services is referred to an "importer".
• Economic trend

  is an indicator that shows how a region or country is doing financially.
• Exporting


  is a market entry strategy where a business sells its products or services to foreign customers.
• Licensing And Franchising

  Licensing allows businesses to grant foreign entities the right to use their intellectual property, such as trademarks or patents. Franchising involves replicating a successful business model in foreign markets.
• Wholly-Owned Subsidiaries 


  This represents a market entry strategy where a company establishes complete ownership and control of its operations in a foreign market.
• Cultural intelligence


  often referred to as cultural quotient (CQ), is the ability to understand and to be able to adapt to different cultural contexts effectively.
• Types of Intermediaries 1. Wholesalers: buy products from the manufacturer + resell them to retailers. 2. Retailers (brick-and-mortar & online): buy products from wholesalers + sell them to consumers. 3. Brokers: facilitate transactions between buyers and sellers without representing either party market makers. 4. Agents: represent the buyer/seller + facilitate transactions between buyers and sellers but do not take title to the goods. Manufacturer's agents represent the seller & purchasing agents represent the buyer.
• Examples of Joint ventures

  • Purchase and sale of goods.
  • Joint consignment of goods.
  • Speculation in shares.
  • Underwriting of shares and debentures.
  • Construction of a building, etc.
• Patent


  A legal document giving the holder exclusive intellectual property rights over a specific invention, patents are an important element in encouraging innovation.
• Mergers and Acquisitions (M&A)


  A general term that describes the consolidation of companies or assets through various types of financial transactions, including mergers, acquisitions, consolidations, tender offers, purchase of assets, and management acquisitions.
• M&A = Mergers & Acquisitions Consolidation of companies or assets through various types of financial transactions.
• CULTURAL DIVERSITY 


  refers to the variety of cultures existing together in a place or community
• Cultural diversity refers to the plurality and variety of identities and/or belongings in a social setting: "A group is diverse if it is composed of individuals who differ on a characteristic on which they base their own social identity"
• Product


  can be defined as a collection of physical, service and symbolic attributes which yield satisfaction or benefits to a user or buyer. A product is a combination of physical attributes say, size and shape, and subjective attributes say image or quality.
• A. Local products - seen as only suitable in one single market.

  B. International products -seen as having extension potential into other markets.

  
  

  C. Multinational products - products adapted to the perceived unique characteristics of national markets.

  
  

  D. Global products - products designed to meet global segments.