This is the exporting, licensing and franchising or the full direct entry of one country into another country for business objectives. This is achieved by one country exporting other countries’ products into its own business environment; it can also enter on franchising terms or through licensing in the country of interest, or direct investment in the foreign country. Market mix development involves product promotion, product pricing and the product development and needs international marketing (Ball et al, 2006). This can be very simple as it would mean only an extension of the current market strategies in the parent country into the target country’s entire customization of the marketing mix.
Marketing as it is in business can fail or succeed depending on very many factors that are always in play. Over the years, failure or success is always as a result of the strategies a business employs to carry out his/her activities in marketing (Czinkotta et al, 2007).
Successful international marketing strategies
a. Customer satisfaction
The top most requirement in successful marketing is achieving customer satisfaction. The business person should, most importantly, realize that customer satisfaction is the most important step into marketing success and so should always be the number one priority of the company (Ball et al, 2006). As the only people who know what customers want are customer themselves, the business should develop a kind of marketing mentality that provides a convenient environment for information gathering but still maintains good communication with both the company and the market. This has always been a key strategy to all companies’ existence (Czinkotta et al, 2007).
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...n possibility and if it does not consider the level of importance the consumer places on the product attributes of branding, then the whole exercise of marketing will be floored. In distribution, it would be a failure of the marketing strategy if proper channels are not followed. Product pricing strategy should consider several factors to be effective otherwise it will result in failure in marketing i.e. the competitive size and position in the market of the company, the pricing strategy of the opponent, behaviour of buying in the opponent’s market and so on (Ketler 2007).
International marketing has been around for as much as business has existed. A company’s success abroad solely depends on it. It therefore follows that its good planning, implementation and continuous evaluation will help keep a company afloat in the foreign market (Ball et al, 2006).
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