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Question - Define International Marketing. Also explain why international marketing is important?
Today, the world is shrinking through technology, and making it easier for marketers to reach global market. Marketing organisations now have to target not just domestic, but international markets.
Definition of International Marketing
According to Cateora and Graham, “international marketing is the performance of business activities designed to plan, price, promote and direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit.”
According to Terpstra and Sorathy, “international marketing consists of finding and satisfying global customer needs better than the competition, both domestic and international and of coordinating marketing activities with in the constraints of the global environment.”
Importance of International Marketing
1. Important to expand target market – Target market of a marketing organisation will be limited if it just concentrate on domestic market. When an organisation thinks globally, it looks for overseas opportunities to increase its market share and customer base.
2. Important to boost brand reputation – International marketing may give boost to a brand’s reputation. Brand that sold internationally is perceived to be better than the brand that sold locally. People like to purchase products that are widely available. Hence, international marketing is important to boost brand reputation.
3. Important to connect business with the world – Expanding business into an international market gives a business an advantage to connect with new customers and new business partners. Apple - the tech giant designs its iPhone in California; outsources its manufacturing jobs to different countries like - Mongolia, China, Korea, and Taiwan; and markets them across the world. Apple have not restricted its business to a nation, rather expanded it to throughout the world. The opportunities for networking internationally are limitless. The more "places" a business is, the more connections it can make with the world.
4. Important to open door for future opportunities – International marketing can also open door for future business opportunities. International marketing not only increases market share and customer base, it also helps the business to connect to new vendors, a larger workforce and new technologies and ways of doing business. For example – American organisations investing in Japan have found programs like – Six Sigma and Theory Z which are helpful in shaping their business strategies.
Product Mix refers to the number of product lines that an organisation offers to its customers. Product line is a group of related products manufactured or marketed by a single company. Such products function in similar manner, sold to the same customer group, sold through the same type of outlets, and fall within a same price range.
Product mix consists of various product lines that an organisation offers. An organisation may have just one product line in its product mix and it may also have multiple product lines. These product lines may be fairly similar or totally different, for example - Dish washing detergent liquid and Powder are two similar product lines, both are used for cleaning and based on same technology; whereas Deodorants and Laundry are totally different product lines.
Question: What do you mean by International Marketing Environment? Also describe various elements of International Marketing Environment.
Question : What do you mean by international marketing? Also define the terms - International Marketing, Global Marketing, Foreign Marketing, and Domestic Marketing.
International Marketing Management contains eight modules namely - International Marketing Environment; Understanding Customer Buying Behaviour; International Marketing Research; International Product Management; International Marketing Communication; Distribution and Logistics; Strategies of Pricing; and Evaluation and Control.
Curriculum Vitae (CV) or Resume is the professional document that you present to employer to describe your skills, experiences, qualities, and personality. Curriculum Vitae (CV) or Resume is your self-marketing tool. It demonstrates to the employer what you are, whether you fit as a potential employee or not.
Today, in this post we’ll let you know how to prepare effective Curriculum Vitae. What steps to be followed in preparing Curriculum Vitae? What are the ideal qualities of good Curriculum Vitae? Also, at the end of the post you’ll find some Sample Curriculum Vitae.