MCOM 2nd Year Nature Of The International Marketing Study Notes M.Com 2nd
NATURE OF THE INTERNATIONAL MARKETING
International marketing is similar to marketing to some extent and in some cases it is different from marketing. So we can understand the nature of international marketing on the basis of following points.
- International marketingis customer or Importer Nation Centerned. International Marketing is based on satisfaction and the happiness of importer. So, the activities of marketing must be directed the importer nation. Exporter nation can remain in their customer mind if they satisfied customer.
Today, customer wants better quality, reasonable price and benefits. Therefore importer nation’s satisfaction must be exporters main aim. For fulfilling consumers all need exporter should be contacted with consumers and try to know their needs and requirements.
- International Marketing is business. All performance of the exporter directed to the consumers, exporter has not to seek customers to search to his products in international market. Export and importer are the bases of international marketing Both are complementary of each other. When importer demand for a product or feel a need for anything they take it from market if the customer do not satisfied with domestic market, he turn to international market and exporter fulfill importer need and make them satisfied.
Importer demand for better product and exporter complete their needs and these transactions make business so, international marketing is a business.
- International Marketing is surrounded by importers needs. International Marketing starts with the indentification of importers needs and equirements. After the identification of needs exporter is not satisfied he and suggests changes and improvements in the basisc product when the exporter same to know that consumer is not satisfied and get suggestions, he make necessary changes and improvements in the portable product and the final product is brought before importer.
Thus, importers needs are the base of international marketing. In Other words, international marketing is surrounded by importer needs.
- International Marketing Creates Healthy and Benefincial Relationships. International marketing is directed to the importer needs. Importer is the center of all international marketing activities. But during the last 10 years, the consideration is shifted to the way of doing business. Exporters want to increase their export. On the basis of their knowledge and experience Importer wants better product. So the result is in the form of mutual beneficial relationship.
- Protective Nature. Basically, international marketing is of a protective nature. Every country wants to increase its export an decrease its import to the possible level.
So every country appreciate his export and discourage or apply restriction on imports.
- Competitive Nature. International marketing is tough competitive in nature. Every country wants to establish its presence in international marketing so every country makes efforts to become the best of all. There is three level competition.
- From the exporters of his own country.
- From the exporters of other countries.
- From the importers of other countries.
This condition makes international marketing more tough competitive.
- Nature of risk. There is a risk in every type of business. International marketing is also surrounded by many type of risks. In making of contract an to complete this, it requires more time. If in between making and completing of a contract the political ad financial conditions have changed of the importer of exporter nation or government rules changed than definitely it will affect the contracts. The changes in the fashion and interest of foreign customers increase the risk.