IM

Defination and Concept of International Marketing

Defination of International Marketing

International Marketing can be explained as exchange of goods as well as services between diverse nationwide marketplaces including buyers and sellers.International marketing is the performance of business activities designed to plan, price, promote, and direct the flow of company’s goods & services to consumers in more than one nation for profit.

Concept of International Marketing

I. Domestic Marketing: Domestic Marketing is involved having marketing methods within the marketer’s home country.

II. Foreign Marketing: It refers to domestic marketing inside overseas region.

III. Comparative Marketing: It involves an assessment of marketing methods practiced in different nations. When several marketing systems tend to be researched, the topic of examine is recognized as comparative advertising.

IV. International Marketing: It is concerned with the micro aspects of a market and takes the company as a unit of analysis. The purpose is to examine why and how an product succeeds or neglects in a overseas country and the way marketing initiatives impact the results associated with international marketing.

V. International Trade: International Trade is concerned with flow of goods and services between the countries. The purpose is to study how monetary and commercial conditions influence balance of payments and resource transfer of countries involved. It provides a macro view of the market, national and international.

VI. Global Marketing: Global Marketing consider the world as a whole as Marketplace. The purpose of global marketing is to figure out how to understand the actual degree to which marketing and advertising ideas and programmes may be extended world wide and the degree to which they need to become adopted.