Question

What are the key decisions involved in international marketing of services?

Answer 1

International marketing decisions are same as domestic marketing; only difference is that all marketing decisions are taken with reference to foreign or international markets (or customers). More clearly, product, price, promotion, and distribution decisions are made for international buyers.

Those firms planning to enter the global markets have to decide on following key decisions:

1. International Markets Decision:

ADVERTISEMENTS:

Whether to go for international market?

2. Market Selection Decision:

To whom of which country to sell?

3. Market Entry Decision:

ADVERTISEMENTS:

How to enter the international market?

4. Marketing Mix Decision:

Which type of marketing mix should a firm prepare?

5. Organisation Decision:

What type of organisation should a firm adopt to manage international business?

Let’s describe in brief these key decisions.

International Markets Decision:

The first few important questions a firm has to answer are should a company go for international market? Why should a company prefer to enter global market? Does company capable to transact in international markets? Obviously, answers come from company’s current domestic market position and types of opportunities available in the foreign markets. When international markets seem to more attractive and the company is capable to exploit these markets, the company decides to enter the international markets.