Экономические науки / 6. Маркетинг и менеджмент
Student Boiko A. I.
Donetsk national university of economics and
trade named after Mykhailo Tugan-Baranovsky, Ukraine
Marketing strategies in
today’s international marketing
The topic of international marketing is widely
viewed as one of the most vital
marketing topics for the twenty-first century. In
the era of global markets, firms will have to compete with international
corporations from a wide range of markets that have the capacity to offer the
best products in the world [1].
The aim of this paper is to outline and analyze
different kinds of marketing strategies in modern international marketing.
A
successful person working in the sphere of international marketing must be
aware that his international audience will frequently have different tastes,
needs and customs. Good marketing strategies help understand and address these
potential differences [2].
International marketing is not the
same as domestic marketing.
International
marketing (IM) or global marketing refers to marketing carried
out by companies overseas or across national borderlines. This strategy uses an
extension of the techniques used in the home country of a firm [3].
The basic marketing formula – the
four “P’s” of product, price, promotion and place – is just the beginning when
it comes to international marketing. Your plan will need to address many other
factors, such as payment (international transactions and currency exchanges),
paperwork (increased documentation), practices (different cultural, social and
business styles), partnerships (strategic alliances to strengthen your market
presence) and protection (increased risks relating to payment, intellectual
property or travel) and many more [2].
There are several general ways to
develop markets on foreign soil. They include: exporting products and services
from the country of origin; entering into joint venture arrangements; licensing
patent rights, trademark rights, etc. to companies abroad; franchising;
contract manufacturing; and establishing subsidiaries in foreign countries.
International market efforts take many forms. Companies that conduct
international business in several nations often favor what is known as an "individualized"
marketing strategy [4].
Corporate strategy refers to the
overarching strategy of the diversified firm. Such a corporate strategy answers
the questions of "which businesses should we be in?" and "how
does being in these businesses create synergy and/or add to the competitive
advantage of the corporation as a whole?"
Business strategy refers to the
aggregated strategies of single business firm or a strategic business unit
(SBU) in a diversified corporation.
Functional
strategies include marketing
strategies, new product development strategies,
human resource strategies, financial strategies, legal strategies, supply-chain
strategies, and information technology management strategies.
A strategic business unit is a semi-autonomous unit that is usually
responsible for its own budgeting, new product decisions, hiring decisions, and
price setting.
Operational
strategy deals with day-to-day operational activities such as
scheduling criteria.
Dynamic
strategy is a firm strategy, both business and corporate, necessarily embracing ongoing strategic
change, and the seamless integration of strategy formulation and implementation
[5].
Global Marketing Strategy (GMS) is
based on the notion that consumers around the world are growing more and more
similar and that a standardized product and marketing mix can achieve enormous
economies, especially in advertising, packing, and distribution because they
would not be changed [4].
Thus, in the era of global markets a
good marketing strategy is very helpful.
There are different marketing
strategies: individualized, corporate
strategy, business strategy, functional strategies, operational strategy,
dynamic strategy.
Depending
on the purposes and the environment different strategies are chosen for
activity in international marketing.
References:
1. O. O. Grusa, Y.O. Polyakova, N.G. Doliniona The formation international marketing strategy of interprise : Master
graduate work / Kharkiv national university of economics. Kharkiv, 2007.
http://www.hdeu.edu.ua/assets/files/mgw3-grusa%28en%29.pdf
Part 2: Marketing Strategies for Successful International Marketing //
About.com
http://sbinfocanada.about.com/od/canadaexport/a/10exportsteps_2.htm
http://www.answers.com/topic/international-marketing
http://en.wikipedia.org/wiki/Business_strategy