The word marketing is commonly used as a synonym for marketing. It consists of establishing strategies to promote and sell a product or service in a certain market. This idea can be extended to other realities, such as in the area of politics or corporate social responsibility . In other words, marketing is a discipline that seeks to understand and identify the needs of individuals and society in general. International Marketing
The international dimension of marketing
Traditional small businesses looking for new customers must put into practice marketing mechanisms adapted to their local reality . However, a multinational company operating in different areas of the planet must take into account the diversity of cultures and languages of the consumers it targets. In this sense, international marketing is directly related to international trade.
International marketing plans
In order for a product or service to be properly promoted abroad and with the local market, it is necessary to carry out a marketing plan with international projection. Some of the most important aspects of these plans are as follows:
Investigate the reality of the international market
It should be noted that consumers from a distant country may be interested in a product, but this does not mean that it is enough to be able to implement a plan, since it is necessary to know all kinds of aspects, such as the means of transport, the shipping system , tariffs, forms of payment, population distribution by age, consumption patterns, etc.
Companies’ international marketing departments perform several functions:
1) address how to market a product depending on the target market;
2) design a certain product depending on the target consumer;
3) analyze a product or service to have global characteristics and be able to be interested in a greater number of consumers; in this sense, it is important to choose between a strategy for standardizing a product or a strategy for adapting to a specific market;
4) evaluate a series of elements of the product or service that it intends to internationalize, such as brand, label, packaging, safety , guarantees, quality, service, etc.
University studies in international marketing
The academic courses in this discipline incorporate very broad knowledge and the most significant are the following:
1) marketing strategies;
2) internationalization processes;
3) forms of export;
4) international communication ;
5) research tools ;
6) distribution channels and logistics management ;
7) international competition.