International marketing strategies and decisions - Marketing Management

As in domestic marketing, international marketing strategies must be systematically planned and implemented. The following represents the key steps and decisions in planning and implementing international marketing programmes.

  1. The extent of involvement and commitment to international markets, i.e. does the company wish to become involved in international markets, and if so, to what extent, e.g. does it intend to be simply at the one extreme a passive exporter, or at the other extreme, a global marketing company.
  2. Foreign market selection where the company must decide which markets it wishes to enter. The company must determine not only which specific markets offer the best opportunities, but how many markets it wishes and is able to enter.
  3. The method of market entry involves determining how the foreign market is to be developed.
  4. Marketing mix strategies: As in domestic markets, this involves decisions regarding the 4Ps and for service products, the 7Ps of the marketing mix.
  5. Marketing organization and implementation for developing international markets: Here the company must decide factors such as organizational systems and procedures including its orientation towards international markets.

These are the key decision areas which we now consider in more detail. In addition to these five key areas, as in purely domestic markets, these decisions need to be based on a careful appraisal of markets including: market size, customer needs and competitors. In short, they need to be based on accurate and up-to-date marketing research and information. We therefore also consider a sixth key area, namely the process of planning and collecting marketing information for international marketing decisions.

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