Know your product better than anyone, know your customer, and have a burning desire to succeed
International marketing is the export, franchising, joint venture or full direct entry of an organisation into another country.
This can be achieved by exporting a company’s product into another location, entry through a joint venture with another firm in the target country, or foreign direct investment into the target country.
The increasing intensity of competition in global markets is a challenge facing companies at all stages of involvement in international markets. As markets open up, and become more integrated, the pace of change accelerates, technology shrinks distances between markets and reduces the scale advantages of large firms, new sources of competition emerge, and competitive pressures mount at all levels of the organisation.
International marketing is not a revolutionary shift, it is an evolutionary process. International marketing has intensified and is evident for approximately nearly all aspects of consumer’s daily life. Local regions or national boundaries no longer restricted to the competitive forces.
To be successful in today’s globalised economy, it is a must for the companies to simultaneously be responsive to local as well as global market conditions and varying aspects related to the international marketing process. Hence, international marketing skills are an important ingredient for every company, whether or not it is currently involved in exporting the activities for the endorsement of the brand or the company.
Not only do standard marketing approaches, strategies, tactics and processes apply, global marketing requires an understanding of global finance, global operations and distribution, government relations, global human capital management and resource allocation, distributed technology development and management, global business logic, inter-firm and global competitiveness, exporting, joint ventures, foreign direct investments and global risk management.
“Global marketing focuses upon leveraging a company’s assets, experience and products globally and upon adapting to what is truly unique and different in each country“, Mark J. Hiltz.
A well-researched and implemented international marketing plan can help create a sustainable, long-term business relationship with an overseas market. Developing a plan for your overseas venture can be challenging and will require time, yet getting it right is critical to your offshore success.
Like your business plan, your marketing plan needs to be reviewed and modified regularly. Marketing in an overseas country is more complex than domestic marketing with more variables and tough competitors.
Food Trade Affairs can help you develop and implement the international marketing plan. If you would like to work closely with our team to see how we can benefit your firm, then contact us at Info@FoodTradeAffairs.eu