Question

Significance of international marketing management

Answer 1

Marketing management employs tools from economics and competitive strategy to analyze the industry context in which the firm operates. These include Porter's five forces, analysis of strategic groups of competitors, value chain analysis and others.

Answer 2

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Marketing managers must also provide a global marketing strategy in order to ensure profit and product growth. Examination of domestic trends and international growth opportunities will allow companies to predict how and where they should market their products.