Topic 1 The International Marketing Concept

Marketing
Definition The essentials:

A genuine understanding of and attention to customers needs and wants Satisfaction of those needs and wants, while at the same time ensuring achievements of profits Orientation of the whole organization towards the customer satisfaction process

Marketing Management & The Marketing Mix

Marketing management and the marketing mix

Marketing management consists of planning, organization, implementation and control of marketing activities.

Marketing activities (marketing mix) are controllable. 4Ps

The planning and development of products or services that customers require PRODUCT The distribution of products through appropriate channels PLACE The establishments of prices that offer value to customers and to the supplier PRICE Promotion of the products or services PROMOTION

The Marketing Environment

Marketer must take into account environmental factors: STEEPLE

The challenge for marketing management is:

S: Social/cultural T: Technological E: Economic and market competition E: Education, training and employment P: Political L: Legal E: Environmental Protection

Planning marketing mix 4Ps that enable the organization to adapt its environment in a way that profit and other objectives are achieved

The International Marketing Environment

The uncontrollable environment factors: STEEPLE + Competitors

Task: to tailor the marketing mix 4Ps into the environment (within any nation and between nations) STEEPLE provides the base framework just as at home market. Aspects require in international marketing; for examples: licensing, joint ventures, agents, counter trade.

The Definition of International Marketing

The marketing of goods, services or ideas across national boundaries The marketing operations of an organizations that sells or produces within a country when: That organization is part of, associated with, an enterprise which also operates in other countries There is some degree of control, or influence on, from outside the country.

Multinational Company (MNC)

A company which has a direct investment base in several countries; which generally gain 20% to 50 % or more of net profits from foreign operations; and the management makes policy decisions based on alternatives available anywhere in the world.

The Major International Marketing Decisions

The The The The The international marketing decisions market selections decisions market entry decisions marketing mix decisions organization decision

INTL MKT DEC. MARKET SELECTION DEC. MARKET ENTRY DEC. MKT MIX DEC.

PRODUCT

PLACE
PRICE PROMOTION

MKT ORGANIZATION DEC.

INFORMATION BASE
MARKET RESEARCH

Thank you