SCOPE OF INTERNATIONAL MARKETING - Part 2

International Marketing constitutes a large areas of businesses, first of them are Exports and Imports (International Trade) as discussed in part 1 SCOPE OF INTERNATIONAL MARKETING- Part 1, here we will identify another two items of international marketing.

Contractual Agreements: Patent licensing, turn key operations, co – production, technical and managerial know – how and licensing agreements are all a part of international marketing. Licensing includes a number of contractual agreements whereby intangible assets such as patents, trade secrets, know – how, trade marks and brand names are made available to foreign firms in return for a fee.

Joint Ventures: A form of collaborative association for a considerable period is known as joint venture. A joint venture comes into existence when a foreign investor acquires interest in a local company and vice versa or when overseas and local firms jointly form a new firm. In countries where fully owned firms are not allowed to operate, joint venture is the alternative.