Protectionist approach of some countries g. Place Constraints Diverse Geography: By tracking these foreign customers through market research and cultural surveys, marketers can discover the best methods of reaching them. While dealing with international markets, international political and legal environment needs a special attention.
Though the world is advancing in terms of information technology, innovative and superior methods of organizing marketing efforts like horizontal organisation, network organisation, virtual organisationglobal efforts for smooth international trades, and so forth, yet international marketing is not that much easy to pursue, it has become a challenge to accept.
But how does a marketing team figure out how to tap into an international market? Promoting products in international markets is a formidable task. They are deeply reflected in formal laws and regulations.
The political and legal environment of foreign markets is different. Every nation has its currency that is to be exchanged with currencies of other nations. Drastic change in these policies creates endless difficulties to international traders. Long-term trend of global political environment is unpredictable and uncertain.
This may sometimes cause problems of currency convertibility, besides the problems of exchange rate fluctuations. Partners within a target market help new companies establish themselves in markets where they would otherwise have gone unnoticed.
Norms and Ethics Challenges: Hiring representives from the country will help ensure that all cultural differences are handled appropriately and with sensitivity.
The availability and nature of marketing facilities available in different countries may differ widely. Market segmentation, product design, pricing, and distribution need more information and efforts.
Governments in different nations have their priorities, philosophies, and approaches to the international trades. Compared to local and domestic markets, it is more difficult to understand behaviour of customers of other countries.
The complexity generally increases as the number of countries in which a company does business increases.
See also International Marketer Whether a company chooses to partner with another foreign agency or hire an inside international marketing representative, the most important facet of building a successful international marketing campaign is the research they conduct.
Frequent change in tariff rates and variable tariff rates for various categories of products create uncertainty for traders to trade internationally.
Natural and man-made calamities e. To trade internationally is not economically risky, but there is the threat to life. Even if a company sends representatives to travel to the foreign market, it is much more difficult to keep a finger on the pulse of an overseas marketing campaign.
Racism also restricts international trade activities.The PowerPoint PPT presentation: "International Marketing" is the property of its rightful owner. Do you have PowerPoint slides to share?
If so, share your PPT presentation slides online with mi-centre.com Ppt 1 intro international marketing 1. InternationalBusiness 2. GlobalizationGlobalization is the system of interactionamong the countries of the world in orderto develop the global mi-centre.comization refers to the integration ofeconomics and societies all over the world.
INTRODUCTION TO INTERNATIONAL MARKETING IMR – Lecture 1. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. international marketing chapter mi-centre.com - Download as Powerpoint Presentation .ppt), PDF File .pdf), Text File .txt) or view presentation slides online.5/5(2).
Special Problems in International Marketing (1) Political and Legal Differences: The political and legal environment of foreign markets is different. The. International marketing environment poses a number of uncertainties and problems. As against, national markets, international markets are more dynamics, uncertain, and challenging.
Especially, cultural diversities and political realities in several nations create a plenty of barriers that need special attention.Download