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MBA Intl Mktg

MBA Intl Mktg

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Published by Subhash Soni

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Published by: Subhash Soni on Apr 27, 2011
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INTERNATIONAL MARKETING
MBA-IV SEMESTER Course Objectives:
The course objectives are to familiarize the students with the Internationalmarket and to understand the working of International Organizations andtheir changing role in the context of globalization of the world economy.
Course Contents:Unit I
Introduction, Meaning & Concepts of InternationalMarketing, Distinctions between Domestic & InternationalMarketing & International Trade, Barriers to InternationalMarketing.
Unit II
International Marketing Environment- Economic, Social,Cultural, Political & Legal Environment, Factors affectingInternational Marketing Environment.
Unit III
International Marketing Strategies-, Product Strategy, PricingStrategy, Promotion Strategy & Distribution Strategy.
Unit IV
Export Procedure & Documentation, International EconomicInstitutions-IMF, World Bank,
Unit V
General Agreement on Tariffs and Trade (GATT), World TradeOrganization (WTO), United Nations Conference on Trade andDevelopment (UNCTAD), European Union (EU).
Suggested Readings:
1.Mishra M. N. -International Marketing Management, Oxford &IBH Publishing, 19932.Varshney R.L. & Bhattacharya B., “International MarketingManagement”, Sultan Chand & Sons, 19993.Cherunilam Francis, “Global Economy and BusinessEnvironment”, Himalaya Publishing, 20014. Bennett Roger, "International Marketing", Kogan Page Ltd, 1995
 
International Marketing ManagementUNIT I
Introduction
International marketing consists of certain special features, which make it quitedistinctive to domestic marketing. Marketing denotes the concept of marketingmanagement whereby prices, product, promotion, physical distribution and packaging areto be managed keeping in view the international environment.
Meaning and Concepts
International marketing is the marketing carried on across national boundaries. PhilipKotler has defined marketing as "human activity directed at satisfying needs and wantsthrough exchange process".' It is potential exchange for the purposes of satisfyinghuman needs and. wants. It is a technique used to the conversion of potential exchangesinto realised exchanges. International marketing is the marketing techniques involved between countries. It is beyond the boundaries of the country. Marketing within the boundaries of a national can be termed as domestic marketing and marketing activities beyond the boundaries of the country are termed as international marketing.Cateora and Hess have defined international marketing as "the performance of  business activities that direct the flow of a company's goods and services to consumersor users in more than one nation".He pointed out that the difference between domestic marketing and internationalmarketing is that the activities take place in more than one country. It involves complexand diverse problems. The marketing principles are applicable to domestic as well asinternational marketing. There is need of marketing as a separate subject for internationalactivities because of the environment within which international marketing has tooperate. The markets and consumers living beyond the frontiers have different needs,wants and behavioral attitude and the international marketers may have to deal with themdifferently.Business activities are directly and primarily concerned with the recognition of thedemand and potential demand, stimulation of demand through promotion and selling andsatisfaction of the demand by the product. Warren J. Keegan has pointed out" foreignmarketing is marketing in an environment different from that of the home or baseenvironment". The activities performed by business enterprise to promote, support andcontrol the penetrations and development of international market from a production baseeither inside the country or outside the country. Product development, pricing, marketintelligence, distribution and promotion of marketing activities across the national boundaries are termed as international marketing. International marketing covers thoseactivities, which are performed at international level.
INTERNATIONAL Vs. DOMESTIC MARKETING
The international and domestic marketing are similar in many cases. In both themarkets, success of marketing depends upon satisfying the basic requirements of theconsumers. They have to find out the buyers' needs. It is necessary to win over theconsumers and develop goodwill in both the markets-domestic as well as international
 
markets. Research and development is essential in both the markets. Although the same principles of marketing apply to the domestic and international markets, the preparationof marketing strategy abroad is somewhat very different. There is severe competition ininternational marketing. The goods and services have to move across national boundariesin case of international marketing, which have to face a number of restrictions viz., tariffsor customs duties, quantitative restrictions, exchange control, and taxes. The differences between domestic marketing and international marketing are also due to different legalsystems, monetary systems, and lower mobility of factors, differences in procedures anddocumentation and differences in market characteristics.The differences between domestic and international marketing are entirely because of thedifferences in national environments, differences in the organisation and programme. Theinternational marketing is found in the diversity of problems and the variety of strategies.International trade agreements may cause further distortions. The international marketinginvolves different types of languages, culture and traditions. The domestic marketingworks within a few languages, culture and traditions. Patriotism does not help ininternational marketing but it is, very helpful to domestic marketing. The domesticmarket is much more homogeneous than that of international marketing. Domesticmarketing deals with one currency whereas international marketing deals with severalcurrencies. Domestic marketing has uniform economic climate while internationalmarketing has varied economic climates. Political factors and government interferencesare least in domestic markets but they count maximum in the international markets.Considerable financial and non-financial risks are present in international markets.Transport cost influences marketing decision to a great extent.International marketing generally has been divided into foreign marketing andmultinational marketing. Foreign marketing is marketing in environment different fromthat of the home or domestic environment. Multinational marketing is world oriented. Ithas two or more national markets across the national boundaries. It arises because acompany is simultaneously marketing its products in more than one nationalenvironment.
INTERNATIONAL MARKETING VS. INTERNATIONAL TRADE
International marketing and international trade are interchangeable. But they are notthe same in real sense. The international trade is primarily related to exports and imports.It takes place when buyers find foreign markets cheaper and sellers find them more profitable to dispose them of. The comparative cost and natural resources have been the basis of international trade.The international marketing is a wider connotation. It is confined not only to sale and purchase and depending on the international trade theories, but it is a new discipline andstrategy to export for survival and widening of the existing markets for growth. Whileinternational trade is primarily concerned with balance of trade and payment problems,The International marketing aims to expand the existing markets in foreign countries and penetrating new markets by applying various strategies of marketing management.International marketing is the means of achieving the profit by selling or persuading a potential customer to buy the product. The needs, wants and preferences of the customersare the determinants not only of product characteristics but also of pricing, distribution,advertising, promotion and services. The total set of marketing activities known, as themarketing mix is the components of international marketing. On the other hand, inter-national trade is least concerned with these individual activities.International trade has been developed as a result of government's efforts. The countryas a whole bothers about the international trade whereas individual marketers devote their efforts to achieve profits in the international market. The international trade views the profit as a function of sales and the international marketing view the profit as a function

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