Global Marketing – International Marketing
Steve Carter defines the term of marketing as “the process of building lasting relationships through planning, executing and controlling the conception, pricing, promotion and distribution of ideas, goods and services to create mutual exchange that satisfy individual and organisational needs and objectives.”
To start with a generally known fact, each firm uses its own type of marketing strategy. Therefore, companies in different countries must think about their marketing strategies relative to different cultural values, for instance the mentality of a foreign country’s population as well as their demands and needs. We can divide marketing into three dimensions – domestic,
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For example, the provocative campaign of United Colors of Benetton made by Oliviero Toscani used a picture of a newborn child in their advertising. When this advertising strategy was first used, there were protests in Italy and the campaign subsequently became censured. This was a result of the cultural differences in Italy, such as their religion and ethical code. Therefore, companies usually customize their strategies or products by region. The main purpose of international marketing is to set up a successful campaign or promotion according to the varying country environments. It also includes the process of deciding which countries to enter, as well as which products to sell there. The company will then customize their marketing strategy and products to the needs and regulations of each country. By understanding and adapting to different cultural values in each country, a company will be able to stay competitive against other companies, whether that may be domestic or foreign competitors. Why is the international marketing so important? The reason is simple, it helps to diversify their business and avoid problems which could arise in some countries.
Furthermore, there are different approaches of international marketing based on the orientation of managers or companies towards the international environment. Firstly, an ethnocentric approach maintains a domestic marketing policy. Secondly, a manager who is polycentric-oriented distinguishes between domestic and