Marketing in International Markets


Definition of marketing

Marketing is learning for an organization to become accustomed to conditions such that it can display a better exchange of relations. In this context, it refers to a plan followed by organizations to draw end customers by upholding an organization’s value through its products or services. It also involves revival from satisfying discontented customers by bringing them to market products. Marketing would only be complete by making the most of the resources. It allows the companies to thehealthcentric have an idea of the restricted resources and generate opportunities from these resources. This would improve the promotion of sales and offer a competitive benefit. It works on the standard of utmost customer approval. It is most successful when it is made a much-discussed component of a company’s strategy. Some of the best examples of marketing can be seen as follows:

Super Bowl Marketing: This is one of the most widely used marketing and advertising platforms. As it shows the patriotism of the Americans, people who can afford to any extent millions of dollars the super bowl marketing. With the theme that this game carries, this is highly conducive to learning. (Marketing Articles – Real Life Examples, 2006)

Profitable Target Marketing From MLB: With the advent of online marketing these days, MLB or major league basketball uses the most adequate business models and strategies to ascertain that the right people visit the desired websites. (Marketing Articles – Real Life Examples, 2006) Itsupport-dubai

Outline of the Marketing process

There are four different steps to a marketing process. They have been given as follows:

Situation Analysis: Most of the dissatisfaction that is caused amongst the customers is by being unable to analyze the situations. So, situation analysis is about being able to analyze the external environment so that it could be used to formulate strategies before customer requirements. Hence, this step of the marketing process narrows the gap between what the customers want and what a certain organization can offer. There are major tools of situation analysis which include PEST: Political, Economical, Social, muzzmagazines and Technological factors for the environmental scanning. Other than this, one can also use the SWOT: Strengths, Weaknesses, Opportunities, and Threats analysis for determining the conditions of the external environment.

Marketing Strategy: The second step of the marketing process is the formulation of a  marketing strategy. Once the situation analysis is done, one can formulate the plans based on specific market research which would help in the selection of the market segments to determine the market target. The basic components of formulating this strategy are:

* Segmentation

* Targeting

* Positioning

* Value Proposition

Marketing Mix Decisions: This includes the details of the elements of the marketing mix which are in the form of product, price, place, and promotion. (The Marketing Process, 2007) elpais

Implementation and Control: Once the marketing strategies are formed and the product has been recognized, the final step of implementation can be started. Any changes that are effective in the environment can be evaluated as a result of this implementation. This requires close observation of the views on the products in the market.
Marketing philosophy

There are five different forms of marketing philosophy. They have been mentioned as follows:

Production Philosophy: When the companies have confidence in themselves about the reputation of a product in the market, this philosophy becomes productive. The reason for the same is that it comes with a belief that a product doesn’t require any sales team; it would speak for its sales. meloot

Sales Philosophy: In this philosophy, the inventory is generally more than what the demand for the product has been in the market. Under the situation, the company market department feels that there is a need for more customers to fulfill the sales desire of the company.

Marketing Department Philosophy: In this philosophy, the marketing department feels that there is a need to find new customers so that there is a balance between production and sales. This requires that no excessive inventory is produced and the pricing is adequate as well. (MARKETING PHILOSOPHY, 2009)

Marketing concept philosophy: In this philosophy, the company feels that they require to meet the customers’ demands as has been specified in the mission and vision statement of the company. This is done to fulfill the long-term goals of the company.

Societal marketing philosophy: This is an extension of the marketing concept philosophy where the marketer feels that the long-term objectives of the company need to be obeyed but this should also be in context with the well-being of the society.

Five reasons for the growth in international business

The five reasons for the growth in international business have been mentioned as follows:

Expansion of Technology:

* Development in communication technologies.

* Communication allows control from distant places.

* Transport and communications cost are more favorable for international businesses.

Liberalization of cross-border terrorism:

Lower Governmental obstructions to the flow of goods, services, and resources ensure a better advantage of international opportunities.

Increase in global competition:

More companies function internationally because:

* Fresh yield rapidly becomes global.

* Organizations can produce in diverse regions.

* Home companies, rivals, suppliers, and buyers become international.

Expand Sales:

An organization’s sales are based on two factors: the buyers’ interest in their products or services and the buyers’ readiness and ability to purchase them. The number of people and the degree of their purchasing power are higher in the international as a whole than for a single nation, so organizations may increase their sales by defining some markets in international terms.

Minimize competitive risk:

Many organizations go international for distrustful reasons. This refers to the fact that they seek to oppose advantages that rivals or potential competitors might achieve from foreign operations which instead could be used against them in the domestic market. (Reasons For Business Growth, 2009)

Two examples of successful international businesses:

Two of the best examples of international business can be seen in the technology sector. The first is the largest search engine provider in the world, Google, and the second is the largest desktop and other computer accessories manufacturing company in the world, Hewlett-Packard. Google has been providing services in the form of search engines and many others to be qualified as a one-stop choice for any web search. Despite the tremendous expansion of the company, Google is being managed under a single organizational body that is moving towards continuous improvement worldwide. Not leaving Hewlett-Packard alone, the company being a pioneer in the field of IT provides numerous products and services to the world.

History/background

Google

The world is aware of the fact that if it comes to searching for material on the Internet, Google is the first option for trial. The company’s USP is such that the search engine is defined by the name Google itself. It was in the year 2005, that the company CEO, Eric Schmidt realized that it was time for the company to start to re-build its strategy such that it could advance its services. Even though the company’s revenue for that year was $ 321 million, it was still behind, the nine-year-old entrant into the business, eBay. The advantage that Google was enjoying at that moment was that the company was providing numerous services on the Internet. There are services like Google Answers, Google Image Search, Google News, etc which have been unbeatable from the early days. The services are so diverse that whatever the device (even a mobile phone or a palm top), search options are available at the easiest and cheapest price. This is the advantage that Google carried with itself. (Wall., 2007)
Hewlett-Packard (HP)

 


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