MCom 2nd Year Nature Of The International Marketing Study Material Notes
MCom 2nd Year Nature Of The International Marketing Study Material Notes: In this post, we will learn about MCom 2nd Year Nature Of The International Marketing Study Material Notes. In MCom 2nd Year there is one of the most important questions comes from Management. You will learn about MCom 2nd Year Nature Of The International Marketing Study Material Notes. MCom is a process of development.
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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 the following points.
1. International marketing is customer or Importer Nation Centered. International Marketing is based on satisfaction and the happiness of importers. So, the activities of marketing must be directed to the importer nation. Exporter nation can remain in their customer mind if they satisfied customer.
Today, the customer wants better quality, reasonable prices, and benefits. Therefore importer nation’s satisfaction must be the exporters’ main aim. For fulfilling consumers all needs exporters should be contacted consumers and try to know their needs and requirements. (MCom 2nd Year Nature Of The International Marketing Study Material Notes)
2. International Marketing is business. All performance of the exporter is directed to the consumers, the exporter has not to seek customers to search for his products in the international market. Export and importer are the bases of international marketing Both are complementary to each other. (MCom 2nd Year Nature Of The International Marketing Study Material Notes)
When an importer demands a product or feels a need for anything they take it from the market if the customer does not satisfied with the domestic market, he turns to the international market and the exporter fulfills the importer’s need and makes them satisfied.
Importers demand better products and exporter complete their needs and these transactions make business so, international marketing is a business. (MCom 2nd Year Nature Of The International Marketing Study Material Notes)
3. International Marketing is surrounded by importers’ needs. International Marketing starts with the identification of importers’ needs and requirements. After the identification of needs, the exporter is not satisfied and suggests changes and improvements in the basic product when the exporter same to knows that the consumer is not satisfied and gets suggestions, he makes 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. (MCom 2nd Year Nature Of The International Marketing Study Material Notes)
4. International Marketing Creates Healthy and Beneficial Relationships. International marketing is directed to the importer’s needs. The 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 a better product. So the result is in the form of a mutually beneficial relationship.
5. Protective Nature. Basically, international marketing is of a protective nature. Every country wants to increase its export and decrease its import to the possible level.
So every country appreciates its export and discourage or apply restriction on imports.
6. Competitive Nature. International marketing is tough competition 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 competitions.
- From the exporters of his own country.
- From the exporters of other countries.
- From the importers of other countries.
This condition makes international marketing tougher competition.
7. Nature of risk. There is a risk in every type of business. International marketing is also surrounded by many types of risks. In the making of the contract and completing this, it requires more time. If in between making and completing a contract the political ad financial conditions have changed of the importer or exporter nation or government rules changed then definitely it will affect the contracts. The changes in the fashion and interest of foreign customers increase the risk.