Explain the stages that are typically taken by a firm moving from a domestic business to an international?
Domestic Marketing: involves the company manipulating a series of controllable variables such as price, advertising, distribution and the product in a largely uncontrollable external environment that is made up of different economic structures, competitors, cultural values and legal infrastructure within specific political or geographic country boundaries:
International Marketing: Involves operating across a number of foreign country markets in which not only do the uncontrollable variables differ significantly between one market and another, but the controllable factors in the form of cost and price structures, opportunities for advertising and distributive infrastructure are also likely to differ significantly. It is these sorts of differences that lead to the complexities of international marketing.
The key difference between domestic marketing and marketing on an international scale is the multi-dimensionality and complexity of the many foreign markets a company may operate in. The essential elements of effective international marketing are the ability to interpret the business environment, recognize foreign market opportunities and appreciate how the firm’s resources can best be used to match and develop patterns of market demand. The development of successful international marketing strategies is based on a sound understanding of the similarities and differences that exist in countries around the world.
Differences between International and Domestic marketing:
There are many factors within the International environment which substantially increases the challenge of Internationa...
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...e perceived as central to the company’s future and growth. The company becomes ‘global’ in outlook. The ‘well-established exporter’ knows that exporting is integral to the business and sees the domestic market as just another market. The majority of the turnover is generated through exports and amounts of time are spent on this activity, with senior and middle managers frequently visiting customers. Investment in training is substantial as skills are needed in-house and thinking on export markets is both short-term tactical and longer-term strategic with regular reviews of the overall mission and plan of action. Networks abroad provide excellent information and quality assured partners deliver on time, every time.
The firm’s movement from one stage to the next is not an automatic transition but requires a co-ordinated strategy to improve the performance of the firm.
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