What are the three points that define a global approach to international marketing?
Major objective for MNC is the discipline imposed by the process. Once you've already planned, you have the framework for analyzing marketing problems and opportunities and a basis for coordinating info from different country markets. Process of planning as important as the plan itself because you must take all factors into account.
1. Define company's objectives and resources. May need to change objectives for foreign market, must reconcile differences.
2. Must decide if ready for level of commitment regarding money, amount of personnel, and determination to stay in market long enough to receive return on investments
3. Planning is essential to success.
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International Marketing Strategies
- What does the framework 4P stand for?
- What are some of the reasons for adaptation?
- What is International Marketing?
- What is the product life cycle?
- What is meant by relationship marketing and how is it different from traditional marketing?
- What is the importance of collaborative relationships to competition?
- How valuable is branding for a consumer products company?
- What is meant by positioning?
- Why is cost containment and technological improvement said to be the basis for competition?
- What is the concept of quality? How does it relate to TQM?
- What are the benefits to an MNC that accepts the global market concept?
- What is strategic planning and how does it differ for international marketing from domestic?
- What is a market-driving strategy?