Introduction to International Marketing: Consequent to the global economic integration, a firm operating in the domestic market can no longer rely upon its home market because the home market is now an export market for everybody else. Earlier, it was believed that in order to compete in international markets, a firm needed to be competitive in the domestic market.
Marketing mix decisions must be made for influencing the trade channels as well as the final consumers. In maintaining the competitive advantage in the grobal market.
Product is one of the important element of four ps a Product that can be offered to a market to satisfy a want or demand, product is the important element of the marketing mix which coordinated decisions on product mines, product lines brand and packaging and labeling.
Through product invention is a costly strategy, the company maintaining competitive advantage by backward and forward invention of product. Forward invention is creating a new product to meet a need in another country.
There is enormous need in less developed countries for low cost high proteins foods. The development of a broader product has ranges increases the possibility that individual consumers will be motivated to purchase, Encouraging higher levels of consumption is not only beneficial on the part of NIVEA FOR MEN but also boosting its revenues and the national economy.
Price is the very important element of marketing mix. Price is very sensitive issue on the behalf of the company. Price are the easiest marketing mix element to adjust product features, channels and even promotion take more time.
How o respond to aggressive price cutters How to price the same product when it goes through different channels How to price the same product in different countries. How to price an improved product while still selling the previous version.
How to price different component of an offering When the customer wants to make his own choice of components. IT is a major reason why in the UK brand is still the market leader in the male facial skincare market.
Throughout most of history, price were set by negotiation between buyers and sellers traditionally price has operated as the major determinant of buyer choice. Appropriate pricing and promotional techniques is a good tool o maintain and achieve competitive advantage especially it competitors do not have the ability to offer a clear pricing hierarchy.
It will often of choosing from good better and best among the product range. Relation between alternative prices and the resulting current demand is captured.
Demand and price are inversely related. Price still remains one of the most important elements determining market there and profitability.
One of the most important element of the marketing mix is promotion. Promotional tools like advertising, sales promotion, public relations and direct marketing is an role in making marketing strategy for business operating globally.
This helped them set specific targets for increasing sales growing market share improving its brand image. It wanted not just a greater share of the existing market it wanted to expand that market, It wanted more men buying skincare products.
Global companies that use a large number of ad agencies located in different countries and serving different divisions have suffered from uncoordinated advertising and image diffusion. The result is integrated and more effective marketing communications and much lower total communication cost.
Beside these sales promotion include display center international trade fair country trade fair. This is the way to expanding product market.
They use media for their product well known and product quality TV Advertising made people aware and press provide more detail about the product. Another way of promotion is sales promotion is a key ingredient in marketing campaigns, consists of diverse collections of incentive tool, mostly short term designed to stimulate greater purchase of particulars products or services by consumers where as advertising offers a reason to buy.
Sale promotion offers an incentive to bye. NIVEA sought to build on and develop the approach it had used in the part Since there has been a greater emphasis on consumer needs and increasing use to experimental marketing is about engaging consumers through two way communications that bring brand personalities to life and add value to the target audience.
Another key marketing tools is place, where the company undertakes to make the product accessible and available to target market.
NIVEA has build a strong marketing channel through which it can meet customer needs economically and conveniently. NIVEA works internationally with the local distributors who lave local knowledge, invest in them and set up performance goals to which they can agree.
NIVEA has expanded its marketing channel for some views. These are as follows To gather information about potential and current customer Persuasive communications to stimulate purchasing To assume the risks corrected with carrying out channel work.- International And Business-to-Business Marketing Business markets are "markets for products and services, local to international, bought by businesses, government bodies, and institutions, for incorporation, for consumption, for use, or for resale." In business marketing, the customers are organisations, (businesses, governments, and institutions).
In markets where the product function and need satisfied remain the same, but the conditions of product use differ and also the consumers do not necessarily possess the ability to pay for the product, it requires product invention and developing new marketing communication. The product strategy relates to making decisions about the quality, features and the firm’s entire offerings.
There are three international product strategies; Straight extension, product adaption and product invention.
Straight product extension means marketing a product in a foreign market without any change. An example of straight product is . May 09, · International Marketing Essay. Task of the International Marketing Researcher why they buy, how much they buy, where they buy it, and with what they buy.
Internationally, this means understanding culture. How marketing efforts interact with culture determines the success or failure of a product. The new product development process can.
Ethical Challenges In International Marketing Marketing Essay. Print Reference this. the ethical challenge faced by the company’s in marketing new product in a different country is discussed. Marketing ethics are rules and the regulations with the principles to be followed in the international marketing.
Marketing Essay Writing. Since the paper deals with formation of the basis of the new business idea, we will discuss the marketing research for the idea in detail i.e. discussion regarding launch of an existing product in a completely new geographical area.