SCOPE OF INTERNATIONAL MARKETING - Part 3

International Marketing constitutes a large areas of businesses, first of them are Exports and Imports (International Trade), Contractual Agreements and Joint Ventures as discussed in Part 1& Part 2 SCOPE OF INTERNATIONAL MARKETING-  so hereunder in part 3, we will identify another five items of international marketing.

Manufacturing-owned: A company with long-term interest in a foreign market can establish manufacturing facilities outright. Factors such as trade barriers, differences in costs, government policies, etc. encourage the establishment of production facilities in foreign markets. Foreign manufacturing provides the company with a total control over quality and production.

Contract manufacturing: When a company enters into a contract with another company in a foreign country for the production assembles the products and canned product marketing with itself, it is known as contract manufacturing. Contract manufacturing has important advantages such as low risk, low cost and output.

Management contracting: Under a management contract supplier brings a skill set that will offer integrated service to customer without the risk and benefits of ownership.

Third country location: When there is no commercial transaction between two countries for various reasons, a company that wants to enter the market of another country, will operate from a third base country. For example,Taiwan’s entry into china through bases in Hong Kong.

Mergers and acquisitions (M & A): provide access to markets, distribution network, new technologies and patent rights. It also reduces the level of competition for companies that merge or be acquired.

GOOD LUCK

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.

SCOPE OF INTERNATIONAL MARKETING- Part 1

International Marketing constitutes a large areas of businesses, first of them are Exports and Imports (International Trade).

International trade can be a good beginning to venture into international marketing. By developing international markets for domestically produced goods and services, a company can reduce the risk of operating internationally, gain sufficient experience and then go on to set up manufacturing and marketing facilities abroad.

How to Get Into International Marketing Career ?

“It’s a small world”, is a famous words that you must hear every day. Indeed the world is getting smaller by the day and boundaries are getting rubbed out as you speak. In such a manner everything is global and the term globalization has gained a new significance. Marketing jobs are such that they require integration of the entire company deals and doings. With most companies becoming international, it is most likely that your job in marketing is becoming international too.

Marketing is a field that is essential for the success of a company. It is the tool by which a product or service offered by a company is presented to the consumers. As the company grows up, it tends to branch out and expand to new places. Earlier the trend was to set up new branches all over one country. But now, one is rarely satisfied with so little. A company is considered to have truly become successful when it has achieved a global situation. This means that a company or organization has branches in various countries and places. Thus marketing jobs too are expanding too, to surround the whole world.

International marketing jobs are very profitable especially if you enjoy travelling. The jobs may be hectic, and you may have to fly at all hours but the real attraction of the job is in the new places and experiences that you get to enjoy. To get into an international marketing job, there are a few features that you require.

International marketing jobs are more required than regular marketing jobs and hence the top-notch employees are channeled into international marketing. It requires special skills to manipulate a lot of things and handle pressure in strange places. You need to keep exercising your creativity and come up with ideas that are sure to be a hit regardless of where you go. Think global only then can you be successful in an international marketing job.

International Marketing vs. Global marketing

International Marketing is concerned with the micro aspects of a market and takes the company as a unit of analysis. The purpose of international marketing is to find out as to why and how a product succeeds or fails in a foreign country and how marketing efforts influence the results of international marketing.

Global Marketing consider the world as a whole as the theatre of operation. The purpose of global marketing is to learn to recognize the scope to which marketing plans and programmes can be extended worldwide and the scope to which they must be adopted.

What is meant by International Marketing ?

Exchange of goods and services between different national markets involving buyers and sellers can be defined as "International Marketing".

Moreover, it is also defined according to the American Marketing Association as, “the multi-national process of planning and executing the conception, prices, promotion and distribution of ideal goods and services to create exchanges that satisfy the individual and organizational objectives.”