Question

Nature scope and challanges in international marketing

Answer 1

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Nature and scope of International Marketing

1. Broader market is available – Unlike domestic marketing the market is not restricted to national population. Population of other countries can also be targeted in international marketing.

2. Involves at least two set of uncontrollable variables – In domestic marketing the marketers have to interact with only one set of uncontrollable variables. In international marketing at least two set of uncontrollable variables are involved or more if the marketing organization deals in more countries.

3. Requires broader competence – Special management skills and broader competence is required in international marketing/business.

4. Competition is intense – An international marketing organization has to compete with both the domestic competitors and the international competitors. Hence, the competition is intense in international marketing.

5. Involve high risk and challenges – International marketing is prove to various kinds of risk and challenge like – political risk, cultural differences, changes in fashion and style of foreign customers, sudden war, changes in government rules and regulations, communication challenges due to language and cultural barriers, etc,.




6. Export – It is a function of international business whereby goods produced in one country are shipped to another country for further sale or trade.

7. Import – Goods or services brought into one country from another for use or sale.

8. Re-export – Import of semi-finished goods, further processing, and export of finished goods.


9. Management of international operations

Operating marketing and sales facilities abroad,
Establishing production or assembly facilities in foreign countries, and
Monitoring the operations and practices of other MNCs and agencies.